RBZ auctions benefit 2 000-plus firms

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About 2 000 firms have benefitted from the RBZ auctions.

ABOUT 2 800 companies have benefitted from the Reserve Bank of Zimbabwe’s foreign currency auctions in the January to February period this year, governor John Mangudya has said.

This comes as figures from the main bank show that raw materials and capital goods continue to chew up a significant amount of cash allocated at the weekly sales, with a whopping US$2,8 billion having been given to various sectors of the economy since mid-2020.
“The bulk of the funds allotted… (in) February (64 percent) went towards… raw materials
“(US$54 million) and machinery, and equipment (US$40 million), with the remaining 36 percent… going towards consumables (US$17 million),” Mangudya said in a recent update.

 

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