Business Unit Manager x2 (Harare)

Vehicle Sales Consultant - JAC (Harare)

Vehicle Sales Consultant – DONG FENG (Harare)

Vehicle Sales Consultant – BAIC (Harare)

Spray Painter (Harare)

Motor Vehicle Panel Beater (Harare)

Team Leaders x7

Billing Supervisor (Harare)

Sales Representative (Harare)

Auto Electrician: Artisan (Chipinge)

Sales Representatives (Harare)

Boilermaker- Class 1 (Mutorashanga)

Director Human Resource (Mutare)

Content Developers And Content Reviewers Of Social Work Modules

Accounts Clerk (Marondera)

Lecturers: Faculty of Social and Gender Transformative Sciences x6

Secretary: Department of Social Work (Harare)

Senior Airport Attendant (Harare)

Human Resource Officer (Harare)

Secretary (Harare)

Business Analyst (Mutare)

Statistician (Harare)

Assistant Batch Plant Operator (Harare)

Solar Electrical Technician (Harare)

Nurse Training January 2025 Intake

Sales Representative x2 (Bulawayo)

TFCA Programme Officer (Grade D1)

Senior Internal Auditor (Harare)

Human Capital Consultant (Harare)

Property Portfolio Manager (Bulawayo)

Legal & Compliance Manager (Harare)

Processes Analyst (Harare)

Finance Manager Corporate (Harare)

Tyre Fitter (Chipinge)

Auto Electrician (Chipinge)

Class One Electrician (Harare)

Underwriting Administrator (Bulawayo)

Undertaker (Harare & Bulawayo)

Mortician (Harare & Bulawayo)

Funeral Consultant (Harare & Bulawayo)

Accounts Officer (Bulawayo)

Transport Clerk (Harare)

Senior Research Officer in Molecular Biology (Harare)

Genomics Technician (Harare)

Semi-Skilled DPF/Tractor Mechanic (Chipinge)

Department of Clothing and Textile Lectureship Position

Department of Environmental Science and Technology Lectureship Positions x4

Department of Biotechnology – Lectureship Positions x2

Department of Food Science and Technology Lectureship Position

Department of Material Science and Engineering Technology Lectureship Positions x2

Department of Information Technology Lectureship Position

Department of Biology Lectureship Position

Department of Mathematics and Statistics Lecturer Position

Department of Chemistry Lectureship Position

Management Accountant (Harare)

Canteen Cook (Harare)

Canteen Supervisor (Grade 5)

Driver (Mutare)

Strategic Information and Evaluation (SIE) Clerks

Field Officers: SUPPORT-TB

Provincial TB Focal Person (Mutare, Gweru)

Communication and Stakeholder Engagement Manager (Harare)

Workshop Foreman (Harare)

Business Unit Manager (Bulawayo)

Parts Manager (Harare)

Branch Managers (Harare)

Draughtsperson (Norton)

Graduate Trainee – Human Resources (Harare)

Procurement Manager (Harare)

Finance Administrator (Harare)

Artisan Electricians (Chipinge)

Electrician (Harare)

Assistant Motor Bike Mechanic (Harare)

Motor Bike Mechanic (Harare)

Transport Mechanic (Harare)

Registered General Nurse: Fixed Term (Bulawayo)

Front Desk Assistant -Glenview Wellness Clinic (Harare)

2025 Apprenticeship Intake: CFAO

2025 Apprenticeship Training Intake

Exhibitions Officer (Harare)

General Manager (Harare)

Optical Dispensing Assistant

Welder

Lecturer/Senior Lecturer/Associate Professor/Professor: Accountancy x5

Lecturer/Senior Lecturer/Associate Professor/Professor: Mathematics x2

Lecturer/Senior Lecturer/Associate Professor/Professor: Human Capital Management x2

Lecturer/Senior Lecturer/Associate Professor/Professor: Marketing

Lecturer/Senior Lecturer/Associate Professor/Professor: Analytical Chemistry

Sales Manager (Harare)

Personal Assistant (Harare)

General Hand (Bulawayo)

Internal Audit Assistant (Harare)

Sales Driver (Bindura)

Dog Handler (Marondera)

Personal Assistant To The Librarian (Marondera)

General Trade Business Development Manager (Harare)

Finance and Economic Development Minister Mthuli Ncube has threatened to hike Zimbabwe’s policy rate beyond 200% if companies continue engaging in parallel market activities.
Ncube was speaking during the Zimbabwe International Trade Fair (ZITF) business conference in Bulawayo this week. He said:
<blockquote>
We have responded to inflation domestically by raising interest rates.
The interest rates have been quite high. Of late, we have started bringing down the interest rate.
But I’m now wondering about the recent hike in the exchange rates in other (black) markets. Should I increase the interest rates?
Please stop pushing that parallel market (rate), because what we will do is increase the interest rates to 200% and beyond.
Because that is what we know; so desist from operating in that market and pushing up the parallel rate. It is because this is very costly to everyone.
</blockquote>
Last year, the Reserve Bank of Zimbabwe (RBZ) hiked the policy rate to 200%.
It was later reduced to 150%, and further to the current 140% but this is still considered punitive by firms.
The policy rate (benchmark or key interest rate) is the interest rate at which a central bank lends money to commercial banks in its country.
The policy rate is set by the central bank’s monetary policy committee and is used as a tool to control inflation and stabilise the economy.
Hiking the policy rate makes borrowing becomes more expensive for commercial banks and this can lead to a decrease in lending and economic activity, which can help to control inflation by reducing demand for goods and services.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Pindula News

Mthuli Ncube Threatens Fresh Interest Rate Hike

The Minister of Finance and Economic Development Mthuli Ncube said that the government will maintain interest rates at par with inflation to promote the use of the Zimbabwe dollar in local transactions.
Ncube told the <a href="https://www.sundaynews.co.zw/fresh-moves-to-promote-use-of-local-currency/">Sunday News</a> that despite the rise in the use of US dollars in local transactions, nothing has changed in terms of the government’s focus on promoting the Zimbabwe dollar. Said Ncube:
<blockquote>
We are now maintaining interest rates that are at least at par with inflation. Our preference is for positive interest rates, that is what gives currency value. 
Maintaining positive interest rates is one way to maintain the value of the Zimbabwe dollar.
When individuals transact on a day-to-day basis using their mobile platforms, the mobile platform is basically the Zimbabwe dollar, which continues to be used widely. 
Some of the taxes that are collected are paid in Zimbabwe dollars. Then there is demand for those Zimbabwe dollars.
This is a policy that we have in place and it will continue. Nothing has changed in terms of focus on promoting our currency.
</blockquote>
The Zimbabwe National Statistics Agency (ZimStat) recently revealed that percent of local transactions are now in US dollars, with the remainder in local currency.
Furthermore, allocations from the Reserve Bank of Zimbabwe (RBZ) foreign currency auction system have also declined, showing reduced demand for USD.
Ncube said partial dollarisation has helped the country circumvent sanctions which are making it difficult for the country to access affordable loans from international financial institutions (IFIs). He said:
<blockquote>
But because of the sanctions on Zimbabwe, we cannot access credit lines abroad easily.
This then compels us to find ways to ensure that US dollars are available for companies to harness and invest locally.
That is the reason why we are allowing US dollars to circulate. We are circumventing a constraint that we have.
We also subject our domestic currency to the full monetary policy framework.
That is why we have the Monetary Policy Committee, which makes sure that we do not allow money supply, the Zimbabwe dollar, to get out of control.
</blockquote>

Mthuli Says Govt To Maintain Interest Rates At Par With Inflation

The Reserve Bank of Zimbabwe (RBZ) has cut its policy rate to 150 per cent from 200 per cent following a gradual decline in the rate of inflation since late last year.
Monthly inflation fell to 1.1 percent in January 2023 from 2.4 percent in December 2022, while yearly inflation fell to 229.8 percent from 243.8 percent.
In his 2023 Monetary Policy Statement issued on Thursday, 02 February, RBZ Governor John Mangudya said:
<blockquote>
The moderation in interest rates is important and necessitated by the downward trend in month-on-month inflation since the last quarter of 2022. The Bank will continue its tight monetary policy stance.
</blockquote>
Mangudya also increased export retentions to 75 percent across all sectors, including firms listed on the Victoria Falls Stock Exchange (VFEX).
He also announced the upward review of the export of foreign currency cash and gold coins from US$5 000 to US$10 000.
The maximum amount of local currency notes and coins that may be taken out of the country has been capped at an equivalent of US$1 000 at the prevailing interbank exchange rate.

RBZ Cuts Policy Rate To 150 Percent After Inflation Falls

Captains of industry and commerce have urged the Reserve Bank of Zimbabwe (RBZ) to lower its bank policy interest rates downwards to between 80 and 100 per cent from 200 per cent.
They say this will enable businesses to have access to affordable financing.
Zimbabwe National Chamber of Commerce (ZNCC) chief executive officer Christopher Mugaga said companies are now being forced to borrow in United States dollars due to high-interest rates, which he said threatens their viability. Said Mugaga:
<blockquote>
In the upcoming monetary policy statement, we expect interest rates to be reviewed downwards to margins between 80 and 100 percent this is because as private sector we understand that the rate of inflation is still a threat to the overall macro-economic stability, but having it come down to those levels will at least give us a breathing space.
Right now, most of the companies are borrowing in US dollars and it’s not sustainable at all.
</blockquote>
RBZ governor John Mangudya is expected to present this year’s monetary policy statement next month.
In its third quarter of 2022 business and economic intelligence report, the Confederation of Zimbabwe Industries (CZI) said:
<blockquote>
… an interest rate of 200 percent compounded monthly effectively eliminated ZWL$ borrowing, as businesses could not afford such high borrowing costs.
While speculative borrowing was reduced (which also helped contain the growth of money supply), the policy virtually eliminated borrowing in local currency as a way of finance and reduced industry expansion prospects.
</blockquote>
Persistence Gwanyanya, a member of the RBZ Monetary Policy Committee said:
<blockquote>
Certainly, the forthcoming monetary policy will be presented before the end of next month but a date has not been set as yet.
One of the expectations from industry and commerce is the downward review of interest rates from the current levels.
In December, as the MPC we postponed the review of the interest rates on account that there should be sustained currency and inflation stability, if sustained stability is there by the time the monetary policy statement is presented, the interest rates will be reviewed downwards.
</blockquote>
| <a href="https://www.herald.co.zw/industry-wants-interest-rates-reduced/">The Herald</a>

Captains Of Industry Expect RBZ To Reduce Interest Rates

The government has said it cannot order banks to reduce their charges which have been described by the banking public as astronomical.
Speaking in the National Assembly on Wednesday during a question and answer session, Finance and Economic Development Deputy Minister, Clemence Chiduwa, said more than 84 percent of bank profits come from bank charges.
Chiduwa was responding to Mabvuku-Tafara legislator, James Chidhakwa, who wanted to know the government’s position on high bank charges and fees charged by money transfer agencies. Said Chiduwa:
<blockquote>
The bank charges that are being levied by our financial institutions are very high.
Even if we look at the performance of our banks, above 84% of their profits come from bank charges.
We have engaged the banks and BAZ (Bankers Association of Zimbabwe), and the major reason that they have given us is that most of their solutions are imported.
We have implored BAZ to say, “Let us try to ensure that the solutions that we use in Zimbabwe are local solutions.
At the moment we cannot direct them to reduce the bank charges but what we are saying collectively as BAZ, they need to re-look at their charges so that they are in line with the market.
They need to make sure that they are competitive and seek local solutions, especially for the software they are importing.
</blockquote>
However, Harare East MP, Tendai Biti, contended that the government should put a cap on bank charges and also lower the interest rate, which is currently at 200%, “to allow business to have oxygen.” Said the former Finance Minister:
<blockquote>
Surely, the Ministry of Finance must regulate or cap bank charges. Equally, the interest rate of 200% is too high.
Most people in this august House are farmers and business people. You cannot borrow money at 200%. The interest rate of 200% is choking business.
The interest rate of 200% is unprecedented in the history of economics.
The government must lower the rates of interest to allow business to have oxygen.
High-interest rates of 200% are driving this economy into a recession because business is borrowing.
</blockquote>
| <a href="https://cite.org.zw/we-cannot-direct-banks-to-reduce-charges-govt/">CITE</a>

Govt Says It Cannot Order Banks To Reduce Charges

Finance and Economic Development Minister Mthuli Ncube has said the country will maintain the benchmark interest rate of 200% into next year to achieve economic stability.
Zimbabwe hiked interest rates to 200% in June this year to combat economic headwinds, among them runaway inflation and currency volatility.
The tight monetary stance has inadvertently resulted in a liquidity crunch but has also enabled the convergence of the official and parallel exchange rates. Said Ncube:
<blockquote>
I think once we see that downtrend in month-on-month inflation being sustainable, maybe over a three- to four-month period, then we can begin to think about lowering interest rates.
But for now, the tough monetary-regime stance and the tough fiscal stance also stands. 
That’s what it takes to bring stability and bring things under control.
</blockquote>
Addressing reporters on Saturday at a virtual press briefing in Washington, Ncube said Zimbabwe is targeting a monthly inflation rate of 3% although the desirable target is 1% and may be hard to achieve.
Ncube also said the government now had to “sacrifice” growth that he had earlier forecast at 4.6% for this year, compared with a 5.5% forecast in November.
Meanwhile, the International Monetary Fund revised Zimbabwe’s growth outlook to 3% this week from 3.5%. | <a href="https://www.bnnbloomberg.ca/zimbabwe-will-keep-world-s-highest-interest-rates-into-2023-1.1832882">Bloomberg</a>

Zimbabwe To Keep Interest Rates Of 200% Into 2023, Says Mthuli Ncube

The <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> has directed all banks and financial institutions to review<a href="https://news.pindula.co.zw/2022/06/27/full-text-rbz-increases-bank-policy-rate-from-80-to-200-per-annum/"> interest rates to 200 per cent per annum</a> on loans from the 1st of July 2022. In a statement seen by Pindula News, the central bank said existing loans can be extended on that condition. Pindula News presents the letter addressed to Chief Executive Officers/ Managing Directors of All Banking Institutions, Development Finance Institutions, Deposit-Taking Microfinance Institutions and Credit-Only Microfinance Institutions:
<blockquote>
<h2>RE: RESOLUTIONS OF THE MONETARY POLICY COMMITTEE MEETING HELD ON 24 JUNE 2022 &amp; PRESS STATEMENT OF 17 JUNE 2022</h2>
1. We refer to the Press Statement of 17 June 2022 issued by the Governor, on Outcome of Investigation of Abuse of Commercial Bank Loan Facilities by Certain Business Entities and the Monetary Policy Committee Statement of 27 June 2022.
2. Effective 1 July 2022, all banking institutions, development finance institutions, deposit-taking microfinance institutions and credit-only microfinance institutions are required to ensure that all existing and new loans are extended at an interest rate not below the new Bank policy rate of 200% per annum except for loans drawn under the Medium Term Bank Accommodation Facility, the Micro, Small to Medium Enterprises Facility (MSMEs) and individuals, which shall be extended at a rate not below the Medium Term Accommodation interest rate of 100% per annum. Please note that this new interest rate does not apply to loans covered under employment contracts.
<h2>3. Banking institutions are further advised that, effective 1 July 2022:</h2>
a) the minimum deposit rate for ZW$ savings has been reviewed upwards from the current 12.5% to 40% per annum;
b) the minimum deposit rate for ZW$ time deposits has been increased from 25% to 80% per annum; and
c) statutory reserve requirements have been maintained at the current levels of 10% for demand and call deposits and 2.5% for savings and time deposits.
<h2>4. In addition, banking institutions are required to:</h2>
a) Implement appropriate due diligence measures to ensure that borrowing by holding companies for purposes of funding their subsidiaries are properly justified, in line with the Banking Act [Chapter 24:20] and Banking Regulations S. I. 205 of 2000 and that the loans are used strictly for the intended purposes;
b) Ensure that, in line with the sanctity of contracts, no other person may borrow on behalf of another;
c) Put in place effective credit risk management, including loan monitoring and enforcement of loan covenants, client visits and other measures to ensure that borrowings are used for the intended purposes;
d) Comply with the prescribed prudential lending limits provided under the Banking Regulations SI 205 of 2000;
e) Ensure that boards of directors enhance their oversight on the management, reporting and performance of large exposures and group exposures; and
f) Ensure that all lending activities are conducted in line with banking institutions’ credit policies, the Banking Act [Chapter 24:20] and Banking Regulations Statutory Instrument 205 of 2000.
5. The Reserve Bank will continue to monitor conduct of banking business through existing supervisory tools, to ensure compliance and adherence to regulatory requirements.
6. Please note that all banking institutions and deposit-taking microfinance institutions are required to include the compliance status with the minimum lending rates and minimum deposit rates through the Quarterly Compliance Self-Assessment Report due as at 30 June 2022 and on a quarterly basis.
7. We advise accordingly.
P. T. Madamombe 
Registrar of Banking Institutions
</blockquote>
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed <a href="https://zero.pindula.co.zw/download/?utm_source=PindulaArticles&amp;utm_campaign=DownloadLink">via the App. Download it here</a></h2>

RBZ Directs Banks To Effect New Interest Rates On Loans From 1 July

Mthuli Ncube Latest News

Latest Jobs