News

A stronger Zimbabwe dollar following the introduction of foreign currency auctions by the central bank slowed down year-on-year inflation from 620 to 599 percent.

(62 VIEWS)

The Reserve Bank of Zimbabwe’s currency auction got off to a good start with the Zimbabwe dollar going for an average Z$4 200 to the greenback and the central bank only selling one-tenth of the US$5 million it had on offer.

(82 VIEWS)

Central bank governor Gideon Gono showed his new financial clout by announcing new measures for exporters which would only allow them to exchange only 25 percent of their earnings at the official rate, down from half, and announced that insolvent banks would be left to collapse.

(120 VIEWS)

The United States embassy said while the government was cracking down on parallel market trading, central bank governor Gideon Gono’s Commercial Bank of Zimbabwe continued “to be one of the most brazen parallel market players”.

(57 VIEWS)

The managing director of the Jewel Bank Gideon Gono has been appointed governor of the Reserve Bank of Zimbabwe which has been without a leader since April 2003 when Leonard Tsumba was eased out, three months before the end of his term.

(132 VIEWS)

Zimbabwe’s economy had plummeted by as much as 40 percent by mid-2003 but the economy was being sustained by remittances from Zimbabweans abroad as well as assistance from Libya and South Africa.

(78 VIEWS)

Jewel Bank chief executive Gideon Gono told United States ambassador to Zimbabwe Joseph Sullivan that contradictions in Zimbabwe’s economy could lead to a meltdown in six months.

(51 VIEWS)

Commercial Bank of Zimbabwe managing director Gideon Gono was rumoured to have taken over the Financial Gazette, one of the most respected papers in the country.

(126 VIEWS)

Gideon Gono, who at the time was the managing director of the Commercial Bank of Zimbabwe, said President Robert Mugabe sounded him out for a cabinet appointment but he turned it down.

(76 VIEWS)

The rumour mill had it way back in 2000 that Gideon Gono, then the managing director of the Commercial Bank of Zimbabwe, was top of the list to take over as Minister of Finance from Herbert Murerwa after the June 2000 elections which saw the emergence of the Movement for Democratic Change.

(72 VIEWS)