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Reserve Bank of Zimbabwe
Headquarters Reserve Bank of Zimbabwe Building, Harare, Zimbabwe
Central bank of Zimbabwe
Currency Zimbabwean Bond Coins
Website www.rbz.co.zw

The Reserve Bank of Zimbabwe is the central bank of Zimbabwe.


The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board. The Reserve Bank has continued to function, and has grown in operations and staff, through a variety of changes in sovereignty and governmental structure in Rhodesia and Zimbabwe. For over 4 decades the RBZ operated from the Reserve Bank Building along Samora Machel Aveneu adjacent to First street. In the late 80s a competition was conducted to design the new building and the winning design was by Clinton & Evans and Architects,they went on to design the Reserve Bank of Malawi Building as well. Construction of the new RBZ building began in 1993 and was fully completed in 1997 but was officially opened by President Robert Mugabe on May 31, 1996. The building is the tallest in Zimbabwe standing at a height of 394 feet with 28 floors above ground.


The Reserve Bank of Zimbabwe Act provides for a Board of Directors and a Governor. The Governor, assisted by three deputy governors, is responsible for the day-to-day administration and operations of the bank. The current Governor is John Panonetsa Mangudya.[1] The Governor and his three deputies are appointed by the president for five-year terms that may be renewed. The Governor also serves as chairman of the board. The board's membership includes the three deputies and a maximum of seven other non-executive directors, intended to represent key sectors of the economy.


The Reserve Bank's most important role is to create and enact monetary policies. According to the bank's website, as the only producer of Zimbabwe's bank notes and coins, it regulates the amount of money in circulation. However, since a range of foreign currencies is currently in use for domestic transactions, the bank's ability to control money supply is limited. The Reserve Bank also looks after the country's gold and other assets, and serves as an advisor to the government, providing the government with daily banking services. It is also active in promoting financial inclusion policy and is a member of the Alliance for Financial Inclusion.[2]


Due to the unstable economic conditions and failure to control inflation (2008), economists have suggested that the Reserve Bank be abolished. Some economists have suggested that the Reserve Bank of Zimbabwe be reformed. Legislation in 2008 was debated in the lower house of the Zimbabwean parliament with a view to limiting the so-called quasi-fiscal activities of the Reserve Bank.[3]

List of Governors of the Reserve Bank of Zimbabwe[edit]

See also[edit]

External links[edit]


  1. ^ http://www.newzimbabwe.com/business-15010-CBZ+boss+named+new+RBZ+governor/business.aspx
  2. ^ "AFI members". AFI Global. 2011-10-10. Retrieved 2012-02-23. 
  3. ^ http://www.voanews.com/english/archive/2008-06/2008-06-27-voa2.cfm

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Reserve_Bank_of_Zimbabwe — Please support Wikipedia.
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2166 news items


Sun, 22 Nov 2015 19:17:02 -0800

RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has backed businesses rejecting the South African rand saying doing so is acceptable in managing risks associated with weakening currencies. Responding to concerns that some traders were ...

The Herald

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Mon, 23 Nov 2015 14:58:04 -0800

There have been far too many banking scandals in Zimbabwe starting with the Reserve Bank of Zimbabwe (RBZ), all the way down to those formed by seemingly pre-pubescent school boys around 2000. At the heart of all this was greed. Things might have ...

VOA Zimbabwe

VOA Zimbabwe
Tue, 17 Nov 2015 13:11:15 -0800

According to The Source which quoted the Reserve Bank of Zimbabwe's monthly economic review for September released last Friday, bank deposits were mainly from the services sector that contributed $1,003 billion followed by financial organisations and ...


Sun, 29 Nov 2015 19:00:00 -0800

According to the Reserve Bank of Zimbabwe (RBZ) Economic review report for the week ending November 6, mobile-based transaction volumes were 5 233 156 which accounted for 85,57% of total transactions made through national payment systems (NPS).
Seeking Alpha
Mon, 23 Nov 2015 15:37:30 -0800

In April 2008, the Reserve Bank of Zimbabwe was miffed. The country's central bank governor, Dr. Gideon Gono, produced its first quarter monetary policy statement by reminding anyone who might read it that his actions were being duplicated the world over.

The Zimbabwe Mail

The Herald
Sun, 29 Nov 2015 14:52:30 -0800

Aurex Diamonds (Pvt) Limited, a subsidiary of the Reserve Bank of Zimbabwe, is now cutting and polishing diamonds mined in the country, after their compulsory cleaning to improve their quality. “I am happy to say that Aurex Diamonds has already ...
Sun, 29 Nov 2015 03:48:45 -0800

The panel members were Ritesh Anand, executive chairman of Invictus Capital and a board member of Zamco, a wholly-owned subsidiary of the Reserve Bank of Zimbabwe; Peter Lloyd and Mordecai Mahlangu, both partners at Harare-based law firm Gill, ...

Independent Online

Independent Online
Sat, 07 Nov 2015 23:18:45 -0800

The rand is acceptable in the country and you can use it; it's the coins that are a problem,” Robertson said. Zimbabwe this year introduced bond coins, local coins hedged by a bond held with the Reserve Bank of Zimbabwe to ease problems associated with ...

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