Breaking NewsBreakingNewsCurrent NewsNewsTech-Business

RBZ Governor Promises To Meet President Mnangagwa’s Directive Clearing Auction Backlog By July-end


Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya has said he will meet, President Mnangagwa’s Directive for the apex bank to clear the foreign currency auction backlog by month-end after missing the June deadline that had been set by Government.

The RBZ Governor Dr John Mangudya revealed to TechnoMag that he was confident “there would be no more backlog on the auction by the end of July”.

“We are working tirelessly to make sure we quickly settle the backlog at the auction. We should be able to accomplish that by the end of this month; I am confident there would be no more backlog on the auction by the end of July,” he said.

Industry says the backlog could be around US$300 million.

Since inception of the auction on June 23, 2020, more than US$3,3 billion has been extended to support key imports for raw materials and machinery.

ross moyo

Mangudya Ensures Approved Bids That Match Available Forex

Previous article

Econet Zimbabwe Announces SMS, Voice, Data Price Bundle Review

Next article

You may also like


Leave a reply

Your email address will not be published.