HARARE Zimbabwe (Xinhua) --
The Reserve Bank of Zimbabwe (RBZ) on Thursday
warned the public against the use of virtual currencies such as
Bitcoin because of the risks involved.
In a statement, RBZ
governor John Mangudya noted that the use of virtual currencies
or cryptocurrencies was on the increase both locally and
globally, with Bitcoin being the most popular.
He warned that the
use of and trading in such currencies was not regulated by the
country’s laws and presented risks such as money laundering,
terrorism financing, tax evasion and fraud.
“Under the existing
legal and regulatory dispensation, any person who invests in
virtual currencies or participates in any transaction involving
virtual currencies, does so at own risk and will not have legal
protection from, or recourse against, any regulatory authority,”
virtual currency was defined as a digital representation of
value that could be digitally traded and functioned as a medium
of exchange or a unit of account or a store of value but did not
have legal tender status.
“Virtual currency is
different from fiat currency (also known as real currency, real
money or national currency) which is the coin or paper money of
a country that is designated as its legal tender. Virtual
currency is also not the same as e-money, which is used to
electronically represent and transfer value denominated in fiat
currency,” he said.
He said virtual
currencies were attractive to money launderers and other
criminals because of the supposed anonymity and ease with which
transactions could be conducted—on the internet and across
Zimbabwe president urges
Zimbabweans in diaspora to return home
CAPE TOWN Zimbabwe (Xinhua) --
Visiting Zimbabwe’s President Emmerson
Mnangagwa on Thursday urged his countrymen residing abroad to
return home following the resignation of former President Robert
It’s time for
Zimbabwean nationals in the diaspora to return home, Mnangagwa
told a crowd of Zimbabweans in Pretoria during a visit to South
Zimbabweans fled to foreign countries, most of them to South
Africa, during Mugabe’s 37-year rule.
Zimbabwean nationals living in South Africa should return home
and put the skills that they have acquired in the neighboring
country to great use in the rebuilding of the Zimbabwean economy
and development of their motherland.
“I appeal to you to
come to Zimbabwe ... Zimbabwe is your home,” he said, adding
that from now on Zimbabwe is now open for business.
He urged his
countryment to let bygones be bygones and look in the future
his South African counterpart Jacob Zuma for the warmth and
hospitality provided to Zimbabweans living in South Africa.
Earlier on Thursday,
Mnangagwa met with Zuma and both leaders pledged to strengthen
economic trade and cooperation between the two countries.
Mnangagwa was on his
first working visit to South Africa, which was also his first
official visit outside of Zimbabwe since his assumption of
office on November 24, 2017
The two presidents
emphasized the warm historical relations between the two
countries and the need to ensure the further deepening of these
relations, South African presidential spokesperson Bongani
The two heads of
state agreed on the need to strengthen economic cooperation and
expand economic and trade relations between the two countries,
and to make this a key feature of the cooperation agenda, in
support of Mnangagwa’s mission to revive the Zimbabwean economy,
economy has been hard hit by sanctions imposed by Western
countries and other challenges over many years.
According to the
Zimbabwe’s embassy in South Africa, the main purpose of
Mnangagwa’s visit was to attract investments from South Africa.
South Africa and
Zimbabwe enjoy cordial bilateral relations underpinned by strong
historical and political bonds that date back to the era of the
The two countries
have convened their Bi-National Commission (BNC) meeting every
year since 2015. The BNC is co-chaired by the two heads of
The previous session
of the BNC was held on October 3,2017, with the participation of
Mugabe, who was deposed not long after he returned home.
South Africa and
Zimbabwe have signed over 40 memoranda of understanding and
agreements, covering wide aspects including security, energy,
agriculture, mining, infrastructure development, trade,
transport and arts and culture.
Trade between the
two countries has seen exponential growth over the years with
Zimbabwe being one of South Africa’ s top five trading partners
in the region and the continent.
exports to Zimbabwe in 2016 were worth 29.3 billion rand (about
231 million U.S. dollars), official statistics show.
Zimbabwean minister appointed
as Mnangagwa visits South Africa
HARARE Zimbabwe (Xinhua) --
A cabinet minister was named acting
president as Zimbabwe’s Emmerson Mnangagwa left for South Africa
on a working visit.
Yet to appoint his
two deputies, Mnangagwa on Thursday left Minister of
Environment, Water and Climate Oppah Muchinguri-Kashiri as
is currently the most senior member of the ruling Zanu-PF’s
Politburo where she was recently appointed national chairperson.
This is Mnangagwa’s
first visit outside the country as head of state following his
inauguration in November when he took over from former President
He is expected to
hold talks with President Jacob Zuma and attend a business
conference to be hosted by the Zimbabwean embassy in South
The South African
government said the two presidents would discuss various
“During the courtesy
call, the two heads of state will share perspectives on various
issues of mutual importance, such as regional, continental and
international developments,” the South African Presidency said.
South Africa is
Zimbabwe’s biggest trading partner and the two countries have
signed over 40 cooperation agreements under their Bi-National
Commission early this year.
First white Zimbabwean farmer to return
praises change in government attitude