QUARTERLY
ECONOMIC
REVIEW


SEPTEMBER 2024

CONTENTS

List of Figures


List of Tables

1.
OVERVIEW
Global economic growth is expected to remain
steady at 3.2% in both 2024 and 2025, consistent
with World Economic Outlook (WEO) forecasts
made in April and July 2024. Global headline
inflation is projected to decline, from an annual
average of 6.7 percent in 2023 to 5.8 percent in
2024.

In the third quarter of 2024, domestic activities
picked up as agricultural activities increased,
electricity generation improved, and the tourism
sector experienced a surge in growth. In contrast,
mining activities were subdued mainly due to
depressed international commodity prices.

In the third quarter of 2024, the economy
experienced emerging inflationary and exchange
rate pressures. The inflationary pressures were
driven in part by the pass-through effects of
exchange rate depreciation which emerged in the
second half of August 2024, resulting in the
widening of exchange rate premiums in August
and September 2024. Hence, monthly ZiG
inflation increased by 5.8 percentage points in
September 2024 from 0.0% in June 2024 and
USD month-on-month inflation rate accelerated
from -0.3% recorded in June 2024 to 0.7% in
September 2024.
As a result, the Reserve Bank through the
Monetary Policy Committee (MPC) announced
bold measures on the 27th of September to curb
the inflation and exchange rate pressures. The
MPC increased the statutory reserve requirements
for demand and call deposits for both local and
foreign currency from 15% to 30%. In addition,
the MPC increased the Bank policy rate from 20%
to 35% and also enhanced greater flexibility on
the exchange rate.


In the third quarter of 2024, the country’s
merchandise exports were US$1,797.3 million
while merchandise imports were US$2,479.1
million. The country’s trade deficit widened to
US$681.7 million in the third quarter of 2024,
compared to US$452.3 million in the third quarter
of 2023.

Broad money stock (M3) stood at ZiG75.01
billion in September 2024, compared to ZiG42.73
billion recorded in June 2024. The growth in
broad money reflected expansion of ZiG3.87
billion (42.08%) and ZiG28.41 billion (84.73%)
in
local
currency
and
foreign
currency
components of broad money, respectively.
Foreign currency deposits accounted for 82.59%
of broad money, followed by local currency
deposits, at 17.30%, while currency in circulation
constituted the balance of 0.11%.

The Zimbabwe Stock Exchange (ZSE) traded
positively during the third quarter of 2024. The
All-Share index gained 89.22%, to close at
243.42 points. Equally, the Victoria Falls Stock
Exchange (VFEX) also exhibited positive
sentiments, with the All-Share index adding
3.49%, to close at 107.35 points as at end of
September 2024.

The value of electronic transactions processed
through the National Payment Systems (NPS)
infrastructure during the third quarter increased
by 34.35% to ZiG327.82 billion, from ZiG244.01
billion recorded in the second quarter. Similarly,
NPS volume of transactions increased by 21.59%
to 176.64 million from 145.28 million during the
same period.

2.
INTERNATIONAL DEVELOPMENTS
The global economic growth is expected to
remain steady at 3.2% in both 2024 and 2025,
consistent with forecasts made in both April and
July 2024. However, significant changes which
may warrant revision to the estimated growths
have occurred since the projections were made.
Improvements in the outlook for the United States
have balanced downgrades for other advanced
economies, particularly the largest nations in
Europe.

Growth in advanced economies slowed to 1.7%
in 2023 and is estimated to remain steady,
oscillating between 1.7 percent and 1.8 percent
until 2029. In the United States, projected growth
for 2024 has been revised upward to 2.8 percent,
but expected to slow to 2.2 percent in 2025 as
fiscal policy tightens gradually and a cooling
labour market dampens consumption. Table 1
shows the global and regional economic growth
rates and outlook.

Table 1: Global Growth Projections (%)

World Output
3.3
3.2
3.3
Advanced Economies
1.7
1.7
1.8
USA
2.9
2.6
1.9
Euro Area
0.5
0.9
1.5
Emerging Markets and
Development
Economies (EMDEs)
4.4
4.3
4.3
China
5.2
5.0
4.5
Sub-Saharan
Africa
3.4
3.7
4.1
South Africa
0.7
0.9
1.2
Source: IMF, World Economic Outlook Update, July 2024
Global Inflation
Global headline inflation is projected to decline
further, from an annual average of 6.7 percent in
2023 to 5.8 percent in 2024 and 4.3 percent in
2025, with advanced nations likely to revert to
their inflation targets ahead of emerging and
developing economies.

Risks
The risks to the global outlook are predominantly
tilted to the downside as policy uncertainty rises.
Sudden eruptions in financial market volatility,
could tighten financial conditions, adversely
impacting on investment and growth, particularly
in emerging economies where heightened shortterm external funding needs may induce capital
outflows and debt distress. Further interruptions
to the disinflation process, presumably caused by
new commodity price rises amid prolonged
geopolitical tensions, could hinder central banks
from normalizing monetary policy, posing
considerable difficulties to fiscal policy and
financial stability.

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS
During the third quarter of 2024, gold prices
firmed, while platinum, palladium, copper, nickel,
lithium and crude oil prices generally declined.
Commodity prices were largely weighed down by
weak global demand and excess supply. Table 2
shows the evolution in selected commodity prices
during the third quarter of 2024.

Table 2: International Commodity Prices:
Q2 and Q3 2024
Commodity
Unit Price
2024 Q2
Average
2024 Q3
Average
Quarterly
Changes
(%)
Gold
US$/oz
2,336.21
2,476.77
6.0
Platinum
US$/oz
980.16
963.07
-1.7
Palladium
US$/oz
971.40
968.80
-0.3
Copper
US$/oz
9,869.91
9,333.12
-5.4
Nickel
US$/tonne
18,639.13
16,501.56
-11.5
Lithium
US$/tonne
13,829.07
11,064.56
-20.0
Crude Oil
US$/barrel
84.95
78.54
-7.6
Source: World Bank and Bloomberg, 2024
Precious Metals
During the third quarter of 2024, gold prices
increased
by
6%,
from
an
average
of
US$2,336.21 per ounce in the second quarter of
2024 to US$2,476.77 per ounce in the third
quarter of 2024. Gold prices were supported by a
significant rate cut by the Federal Reserve and
intensified geopolitical tensions in the Middle
East.

Platinum prices dropped by 1.7% from an average
of US$980.16 per ounce recorded in the previous
quarter to US$963.07 per ounce during the
quarter under review. The decline was primarily
driven by an uncertain demand outlook, as
China's manufacturing sector scaled down
operations.

Average palladium prices fell by 0.3% from
US$971.40 per ounce in the second quarter to
US$968.80 per ounce during the third quarter of
2024. Palladium prices were largely weighed
down by the ongoing substitution of the metal
with platinum in auto catalysts, coupled with
abundant stockpiles.

The developments in precious metal prices for the
period from September 2023 to September 2024
are shown in Figure 1.

Figure
1:
Precious
Minerals
Prices
(US$/ounce: Sept 2023 – Sept 2024

Source: Bloomberg, 2024
Base Metals
Copper prices slumped by 5.4%, from an average
price of US$9,869.91 per tonne in the second
quarter to US$9,333.12 per tonne in the third
quarter. Reduced demand from China, the largest
consumer, and a surge in copper inventories in
global warehouses impacted adversely on copper
prices.
Nickel prices experienced a significant decrease
of 11.5% from an average of US$18,639.13 per
tonne in the second quarter to US$16,501.56 per
tonne during the third quarter of 2024. The
decrease was driven by supressed demand from
China. Figure 2 depicts developments in base
metal prices from September 2023 to September
2024.

1,000
1,050
1,100


Sep-23
Nov-23
Jan-24
Mar-24
May-24
Jul-24
Sep-24
Gold
Palladium
Platinum (RHS)

Figure 2: Base Metal Prices (US$/tonne):
September 2023 – September 2024

Source: Bloomberg, 2024
Lithium
Lithium prices fell by 20%, from an average of
US$13,829.07 per ounce in the second quarter to
US$11,064.56 per ounce during third quarter of
2024. The decline was primarily due to
oversupply from China and a slowdown in electric
vehicle (EVs) adoption rates.
Figure 3 shows the trends in lithium prices from
September 2023 to September 2024.
Figure
3:
Lithium
Prices
(US$/tonne):
September 2023 – September 2024

Source: Bloomberg, 2024
Brent Crude Oil
During the third quarter of 2024, brent crude oil
prices declined by 7.6%, to US$78.54 per barrel
from US$84.95 per barrel in the second quarter.
The decline was mainly fuelled by concerns over
weakening global demand, and expectations that
Libya and broader OPEC+ group would increase
supply.

Figure
4:
Brent
Crude
Oil
Prices
(US$/barrel): September 2023 – September

Source: Bloomberg, 2024
MERCHANDISE TRADE DEVELOPMENTS
During the third quarter of 2024, the country’s
total merchandise trade rose by 11.6% to
US$4,276.4 million, from US$3,831.8 million
recorded in the second quarter of 2024. The
improvement in total merchandise trade was
driven by a notable rise in both merchandise
exports and imports during the period under
analysis.

Figure

shows
merchandise
total
trade
developments for the second and third quarter of
2024.


Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
US$/tonne
Copper
Nickel

Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
US$/tonne

Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24

Figure 5: Quarterly Merchandise Total Trade
(US$ m)
Source: Zimstat, 2024

Merchandise Export Developments
The country’s cumulative exports increased by
10.9% to US$1,797.3 million in the third quarter
of 2024 from US$1,620.5 million registered in the
second quarter of 2024. Compared to the same
quarter in 2023, exports were, however, 6.9%
lower than the US$1,931.1 million realized
during the same period.

Figure 6 shows merchandise export developments
for the third quarter of 2023, second and third
quarters of 2024.


Figure 6: Quarterly Merchandise Exports in
US$ million

Source: Zimstat 2024

The increase in the country’s export earnings
during the third quarter of 2024 was underpinned
by significant improvements in gold and tobacco
exports, which rose by 31.1% and 139.9%,
respectively. Export earnings from PGMs were,
however, subdued during the period under
analysis, amid concerns about a potential global
economic slowdown
and recession
which
negatively impacted investor sentiment and
demand for PGMs.
Table 3 shows developments in the country’s
exports for the second and third quarters of 2024.


2023Q3
2024Q2
2024Q3
1,931.1
1,620.5
1,797.3
2023Q3
2024Q2
2024Q3

Table 3: Quarterly Merchandise Exports (US$
million)

2024Q2
(USm)
2024Q3
(USm)
Changes
(%)
Share of
Exports
(%)
Total

Of Which


Gold

PGMs

Tobacco
(Including
cigarettes)

Ferrochromium

Other ores and
concentrates

Other mineral
substances

Coal

Chromium ores
and
concentrates

Industrial
diamonds

Cane sugar

Others

*PGMs Include Nickel mattes, nickel ores & concentrates and
platinum
Source: Zimstat & RBZ Calculations 2024

Major Merchandise Export Destinations
During the quarter under review, the country’s
exports were mainly destined to United Arab
Emirates, which accounted for approximately
39% of total exports. This was followed by South
Africa and China, which absorbed 25.9% and
10.1% of exports, respectively.
Figure 7 depicts the country’s top export
destinations for the reporting quarter.

Figure
7:
Major
Merchandise
Export
Destinations (% Share)
Source: ZIMSTAT & RBZ Computation 2024
Merchandise Import Developments
Merchandise imports surged by 12.1% from
US$2,211.3 million in the second quarter of 2024
to US$2,479.1 million in the third quarter, largely
driven by increased maize and fuel imports.
Figure 8 shows the merchandise import
developments for the third quarter of 2023,
second and third quarters of 2024.


United Arab Emirates
South Africa
China
Mozambique
Belgium
Zambia
Viet Nam
Netherlands
United States
Indonesia

Figure 8: Quarterly Merchandise Imports
(US$ million)
Source: ZIMSTAT, 2024
The country’s imports were predominantly
composed of diesel (9.4%), maize (6.5%), and
petrol (4.2%), as shown in Table 4.

Table 4: Quarterly Merchandise Imports (US$
million)

2024Q2
(US$M)
2024Q3
(US$M)
Changes
(%)
Share of
Imports
(%)
Total

of which
Diesel

Maize

Petrol

Electricity

Fertilizers

Wheat

Crude soya
bean oil

Others
1,484.5 1,656.7
11.6
66.8
Source: ZIMSTAT & RBZ Computations 2024

Major Import Sources
The country’s imports for the third quarter of
2024 were mainly sourced from South Africa
(40.4%), China (16.0%), and the Bahamas
(5.7%), along with other markets, as shown in
Figure 9.

Figure 9: Major Merchandise Import Sources
(% Share)

Source: ZIMSTAT & RBZ Computations 2024
TRADE BALANCE
The country’s trade balance widened from a
deficit of US$590.8 million in the second
quarter of 2024 to US$681.7 million during the
period under review. Similarly, compared to the
corresponding quarter in 2023, the trade balance
expanded from a deficit of US$452.3 million to
a deficit of US$681.7 million. Figure 10 reflects
the country’s trade balances for the third quarter
of 2023, second and third quarter in 2024.


2,383.5
2,211.3
2,479.1
2023Q3
2024Q2
2024Q3

South Africa
China
Bahamas
Mozambique
Singapore
United Arab Emirates
Zambia
Mauritius
Bahrain
Hong Kong

Figure 10: Merchandise Trade Balance
(US$ million)
Source: Zimstat & RBZ Computations-2024

3.
DOMESTIC
ECONOMIC
DEVELOPMENTS

REAL SECTOR DEVELOPMENTS
In the third quarter of 2024, domestic economic
activity picked up as agricultural activities
increased, electricity generation improved, and
the tourism sector experienced a surge in growth.
In contrast, however, the mining activities were
subdued mainly due to depressed international
commodity prices.

Inflationary pressures reemerged and were driven
in part by the pass-through effects of exchange
rate depreciation which emerged in the second
half of August 2024, resulting in the widening of
exchange
rate
premiums
in
August
and
September 2024.


AGRICULTURE
During the third quarter of 2024, activities in the
agriculture sector mainly involved the conclusion
of marketing of major cash crops such as tobacco,
and cotton, the ramping up of wheat production,
livestock production and land preparations for the
upcoming 2024/25 summer cropping season.
Crops
Tobacco
Cumulative tobacco sales stood at stood at 231.74
million kilograms, as at end of third quarter of
2024, which is significantly lower than the 296.14
million kilograms sold during the comparable
period in 2023. The reduced sales are attributed to
the lower output realised in 2024 on account of
the El-Nino induced drought conditions.
Table 5 summarises the tobacco sales statistics as
at end of September 2023 compared to end
September 2024.

Table 5: Cumulative Tobacco Sales in 2023
and 2024

Variance
(%)
Total sold (million kg)
231.74
296.14
-21.75
Total value (US$ million)
793.87
896.98
-11.50
Average price (US$)/kg
3.43
3.03
13.10
Source: Tobacco Industry and Marketing Board, 2024.
The 13.1% increase in the average price to
US$3.43 per kilogram in 2024, from US$3.03 per
kilogram in 2023 reduced the impact of yield
losses to total value accruing to farmers in 2024.


2023Q3
2024Q2
2024Q3
Exports
Imports
Trade Balance

Cotton
Seed cotton production contacted drastically in
2024, reflected by the decline in crop deliveries,
which are estimated at around 14 million
kilograms, down from 90.02 million kilograms in
the previous season. Despite continuing support
under Government’s Free Cotton Inputs Scheme,
the sector grappled with challenges which include
drought, reduced viability, and low producer
prices amid delayed payments by merchants.
Further, competition from other crops, which are
perceived to be more profitable.
Wheat
Wheat output is expected to surpass 600 000
tonnes, up from 437 000 tonnes realised in 2023.
The expected rise in production is attributed to a
higher hectarage planted, ring-fenced electricity
supply
arrangements
and
adequate
water
availability. Further, about 56% of the crop was
planted during the opportune planting window
which helped to maximise potential yields.
Livestock
Cattle
Cattle slaughters at formal abattoirs in the second
quarter of 2024 stood at 98 658 head, up from
94 062 in the previous quarter. The slaughters
were also 7.59% higher than slaughters in the
same period in 2023.

The higher cattle slaughter is partially attributable
to some destocking by farmers, ahead of
anticipated grazing and water challenges as the
year progresses. Table 6 shows the total number
of cattle slaughters at formal abattoirs in the first,
second and third quarters of 2023 and 2024.
Table 6: Cattle Slaughters

Variance %
Q1
94 062
87 352
7.68
Q2
98 658
91 698
7.59
Q3
101 097
93 086
8.61
Total
293 817
272 136
8.0
Source: Ministry of Lands, Agriculture, Fisheries, Water, and
Rural Development, 2024

Pigs
Pig slaughters stood at 59 046 head in the third
quarter of 2024, down from 59 615 head in the
same period in 2023. Figure 11 shows the
quarterly pig slaughters from third quarter of 2023
to third quarter of 2024.

Figure 11: Quarterly Pig Slaughters
Source: Ministry of Lands, Agriculture, Water, Climate and
Rural Development, 2024
Dairy
Fresh milk output increased to 29.94 million litres
in the third quarter of 2024, up from 26.01 million
litres produced during the same period in 2023.

Q3:2023
Q4:2023
Q1:2024
Q2:2024
Q3: 2024
Thousands

This performance was also 7.64% higher than
output in the previous quarter.
Figure 12 shows the trend in quarterly fresh milk
production since September 2023.
Figure 12: Quarterly Fresh Milk Output

Source: Ministry of Lands, Agriculture, Fisheries, Water, and
Rural Development, 2024
The dairy sector benefitted from investments in
herd size and cow productivity growth, under the
private sector and government programs.
MINING
The mining sector output performance was
largely subdued during the third quarter 2024 due
to depressed international commodity prices and
inadequate power supply.

Gold
Gold deliveries to Fidelity Gold and Refineries
(FGR) amounted to 10,309.62 kilograms about
33% more than the 7,739.42 kilograms which was
delivered in the second quarter of 2024.
Deliveries to FGR in the third quarter of 2024
were also 24% up when compared to deliveries of
8,284.87 kilograms in the comparable quarter in
2023. Deliveries to FGR by quarters in 2023 and
2024 are shown in Table 7.

Table 7: Quarterly Gold Deliveries to FPR for
2023 and 2024 (kgs)


Q1

Q2 2024
Q3 2024
Primary
producers/kg
3,143.07
3,224.26
3,188.27
Small Scale
producers/kg
2,901.80
4,515.17
7,121.34

Total
6,044.87
7,739.42
10,309.62
Source: FPR, 2024

ELECTRICITY
Total electricity generated by major power
stations and independent power producers (IPPs)
during the third quarter of 2024 amounted to
2 956.80 GWh, up 15.31% on second quarter
output of 2 564.20Wh. This was also 7.67%
higher than the 2 746.1 GWh produced during the
third quarter of 2023.
Hwange, inclusive of units 7 and 8 contributed
70.20% of total production during the third
quarter of 2024, compensating for the low output
from Kariba.
Kariba
Hydro
Power
Station
produced
774.73GWh, up from 515GWh produced in the
previous quarter. Kariba contributed about
26.20% of total electricity generation in the third
quarter of 2024, up from the 20.09% in the second
quarter of 2024. This was, however, 29.13%
lower than 1 093.17 GWh produced during the
same period in 2023.

Q3:2023
Q4:2023
Q1:2024
Q2:2024
Q3:2024
Millions

Table 8 shows power output statistics from the
major power stations and independent power
producers in 2023 and 2024.
Table 8: Quarterly Power Output.

Q3:2023
Q2:2024
Q3:2024
Kariba
1 093.17
515.1
774.73
Hwange
567.68
610.17
775.47
Hesco
(Hwange
7&8)
973.22
1 330.93
1 300.23

Bulawayo
3.79


Munyati
6.52


Harare
11.63


IPPs
90.10
107.95
106.36
Total
(GWh)
2 746.1
2 565.20
2 956.80
Source: ZERA ZPC, 2024
Power output by IPPs at around 106.4GWh,
marginally declined from the second quarter
output of 108GWh, albeit higher than the
90.10GWh produced in the third quarter of 2023.

Figure 13 shows the trend of quarterly electricity
production by IPP’s since the third quarter of
2023.

Figure 13 : Quarterly Electricity Production
by IPPs
Source: ZERA, 2024
TOURISM
The tourism sector experienced a surge in growth,
driven by increased investments in transport
infrastructure,
including
road
rehabilitation
airport modernization and growing corporate
travel.

Tourist Arrivals
Tourist arrivals increased by 18% from 381 293
in the second quarter of 2024, to 450 922 in the
third quarter of 2024. The growth in tourist
arrivals was largely attributed to the “ZimBho”
coupled by marketing campaigns.
Table 9 shows the trend in quarterly tourist
arrivals by region in 2024.
Table 9: Quarterly Tourist Arrivals
Tourist Arrivals
Q1

Q2 2024
Q3

Africa
270,014
254,869
292,210
America
23,310
36,107
41,191
Asia
16,668
24,582
29,151
Europe
47,064
54,872
67,538
Middle east

1,131
3,607
Oceania
12,453
9,732
17,225
TOTAL
370,190
381,293
450,922
Source: ZTA 2024

Tourism Receipts
Tourism revenue grew by 37% from US$252
million in the previous quarter to US$345 million
in the third quarter of 2024, driven by a
combination of international and domestic
demand. Table 10 shows the monthly tourism

2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
GWhs

revenue trend for the second and third quarters of
2023 and 2024.

Table 10: Quarterly Receipts 2024 and 2023
(US$ M)

% Change
Q2

15%
Q3

3%
Total

15%
Source: ZTA 2024

INFLATION DEVELOPMENTS
During the third quarter of 2024, inflationary
pressures re-emerged in the economy driven by
widening parallel market exchange rate premiums
which had a pass-through effect to general price.
This prompted the Bank to institute measures to
curb
inflationary
pressures
and
anchor
expectations on the 27th of September 2024. The
full impact of the policy measures is expected to
positively affect inflation developments in the last
quarter of 2024.
Month on Month Inflation
Monthly
ZiG
inflation
increased
by
5.8
percentage points in September 2024 from 0.0%
in June 2024.
Table 11: Monthly Inflation Profile (%)

ZWG
USD
Weighted
Jul - 2024
-0.1
-0.1
-0.1
Aug - 2024
1.4
0.2
0.4
Sep- 2024
5.8
0.7
1.9
Source: ZIMSTAT, 2024
The
USD
month-on-month
inflation
rate
accelerated from -0.3% recorded in June 2024 to
0.7% in September 2024. The rise in inflation,
reflected in both the food and non-food
component.
Month on month food inflation surged from
-0.29% to 0.73% during the third quarter, while
non-food inflation also increased from -0.10% to
0.42% in the same quarter under review. The chart
below shows the monthly inflation developments
from September 2023 to September 2024.

Figure 14 : Monthly Inflation Profile

Source: ZIMSTAT, 2024
Annual US$ Inflation
Annual USD inflation accelerated from 3.8% in
June 2024 to end the third quarter of 2024 at
4.23%. Though overall inflation was stable, nonfood inflation largely shaped developments
during the second quarter of 2024.
Annual food inflation rose from 3.65% in the
second quarter of 2024, to 5.38% in the third
quarter of 2024. The increase in food prices was
attributed to the indexing of prices to the widening
parallel market premiums.
-1.50
0.50
2.50
Sep-23
Nov-23
Jan-24
Mar-24
May-24
Jul-24
Sep-24
Food
Non food
All Items

Figure

shows
annual
USD
inflation
developments from September 2023 to September
2024.
Figure 15: Annual US$ Inflation Profile (%)
Source ZIMSTAT, 2024

4.
MONETARY DEVELOPMENTS

Broad money stock (M3) stood at ZiG75.01
billion in September 2024, compared to
ZiG42.73 billion recorded in June 2024. The
growth in broad money reflected expansion of
ZiG3.87 billion (42.08%) and ZiG28.41 billion
(84.73%) in local currency and foreign currency
components of broad money, respectively.

The growth in foreign currency deposits was
largely driven by exchange rate depreciation.
The local currency depreciated from ZiG13.788
per US$1at the end of June 2024 to ZiG24.88
per US$1 at the end of September 2024.


Foreign currency deposits accounted for 82.59%
of broad money, followed by local currency
deposits, at 17.30%, while currency in
circulation constituted the balance of 0.11%.

Figure 16 shows the components of broad
money from March 2024 to September 2024.

Figure 16: Broad Money Developments

Source: Reserve Bank of Zimbabwe, 2024
Domestic Credit
Domestic credit registered a growth of 85.68%,
from ZiG38.04 billion in June 2024 to ZiG70.63
billion in September 2024. The growth was
largely driven by an exchange rate valuationinduced increase of ZiG23.74 billion in credit to
the economy's private sector, from ZiG26.71
billion in June 2024 to ZiG50.45 billion in
September 2024. Net Claims on Government
increased from ZiG9.91 billion in June 2024 to
ZiG17.99 billion recorded in September 2024.
-10

Sep-23
Nov-23
Jan-24
Mar-24
May-24
Jul-24
Sep-24
Food
Non food
All Items

Billion
Local Currency Deposits
Foreign Currency Deposits
Currency in Circulation

Outstanding credit to the private sector was
mainly channeled to households, agriculture,
manufacturing, and distribution which received
27.92%, 15.67%, 15.01%, and 11.80% of the total
credit, respectively. The mining sector received
10.18% of the total outstanding credit. Private
sector credit shares by economic sectors are
shown in Figure 17.

Figure 17: Distribution of Private Sector
Credit
Source: Reserve Bank of Zimbabwe. 2024

Credit to the private sector was largely utilized for
recurrent expenditures, 34.73%; inventory buildup, 25.94%; and fixed capital investments,
14.81%.

Interest Rates
During September 2024, nominal lending rates
quoted by banks on local currency-denominated
loans ranged between 10% and 50%. Time
deposit rates for 90-days, 360-days, and over a
year tenure ranged between 5% and 10%. The
savings rates were quoted between 2% and 9%
during the period under review. Developments in
the interest rates are shown in Figure 18.

Figure 18: Interest Rates Developments (%)

Source: Reserve Bank of Zimbabwe, 2024

Lending rates for foreign currency-denominated
loans advanced to individuals ranged between
6.50% and 20.00% per annum, as of the end of
September 2024. Foreign currency lending
interest rates for corporate clients ranged from a
minimum of 5.00% to a maximum of 20.00%.

5.
STOCK MARKET DEVELOPMENTS

ZIMBABWE STOCK EXCHANGE (ZSE)

During the third quarter of 2024, the ZSE traded
in a positive trajectory, resulting in all the indices
registering gains. The All Share, Top 10, Top 15,
Medium Cap and Small Cap indices added
89.22%, 91.26%, 92.16%, 66.31% and 0.02% to
close at 243.41 points, 259.95 points, 256.93
points, 192.59 points and 100.11 points,
respectively.

Households
27.92%
Agricultur
e
15.67%
Mining
10.18%
Manufactu
ring
15.01%
Distributio
n
11.80%
Transport and
Communicatio
n
2.36%
Services
8.03%
Financial
Organisations and
Investiments
5.47%
Constructi
on
2.91%
Other
0.65%

Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
Policy rate
Max Weighted Lending Rates Individuals
Max Weighted Lending Rates Corporates

Similarly, the resource index added 120.46% to
close at 251.68 points during the quarter under
analysis.

Figure 19 shows the developments of the ZSE All
Share, Top 10 and Mining indices for the period
from May 2024 to June 2024.

Figure 19: ZSE All Share, Top 10 and Mining
Indices


Source: Zimbabwe Stock Exchange, 2024

Market Turnover
During the third quarter of 2024, cumulative
turnover volumes and values increased by 78.08%
and 252.97% to 468.85 million shares and
ZiG698.98 million, respectively. This compares
to 263.29 million shares and ZiG198.03 million
recorded in the second quarter of 2024,
respectively, as shown in Figure 20.
Figure 20: ZSE Market Turnover
Source: Zimbabwe Stock Exchange, 2024
Foreign investor participation, as measured by its
contribution to the value of shares traded declined
to 2.30%, compared to 23% recorded in the
second quarter of 2024. Net foreign position,
however, improved to negative ZiG89.75 million,
from negative ZiG165.49 million registered
during the quarter ending June 2024.

Market Capitalisation
Owing to improved sentiments on the ZSE during
the period under review, the ZiG-denominated
market added 92.43%, or ZiG35.78 billion worth
of capitalization to close at ZiG74.49 billion,
compared to ZiG38.71 billion recorded in the
second quarter of 2024.

Figure 21 shows developments of market
capitalization for the period from 30 September
2023 to 30 September 2024.


Top 10 Index
Mining Index (Points)
ZSE ALL SHARE INDEX

Volumes Traded (millions)
Values Traded (millions)

Figure 21: ZSE Market Capitalisation (ZiG
Million)

Source: Zimbabwe Stock Exchange, 2024

VICTORIA FALLS STOCK EXCHANGE
(VFEX)
The VFEX traded in a positive trajectory in the
third quarter of 2024. As a result, the VFEX All
Share index gained 3.49% to close at 107.35
points, from 103.73 points recorded in June 2024.
On an annual basis, the VFEX All Share index
added 44.09%, from 74.50 points recorded in
September 2023.


Figure 22: Victoria Falls Stock Exchange All
Share Index

Source: Victoria Falls Stock Exchange, 2024

VFEX Capitalization
During the third quarter of 2024, VFEX market
capitalization added 3.49%, or US$43.78 million
to US$1.30 billion, compared to US$1.25 billion
recorded in the second quarter of 2024. On an
annual basis, VFEX market capitalization rose by
2%, from US$1.27 billion recorded in the
comparable period in 2023.


30-Sep-23
31-Oct-23
30-Nov-23
31-Dec-23
31-Jan-24
29-Feb-24
31-Mar-24
30-Apr-24
31-May-24
30-Jun-24
31-Jul-24
31-Aug-24
30-Sep-24

Figure 23: VFEX Market Capitalization in
billions of US$


Source: Victoria Falls Stock Exchange, 2024

6.
PAYMENT,
CLEARING
AND
SETTLEMENT ACTIVITIES

The value of electronic transactions processed
through the National Payment Systems (NPS)
infrastructure during the third quarter increased
by 34.35% to ZiG327.82 billion, from ZiG244.01
billion recorded in the previous quarter.
Similarly, NPS volume of transactions increased
by 21.59% to 176.64 million from 145.28 million
during the same period.

Table 12 provides the statistical information on
various payment streams for the second and third
quarters of 2024.


Table
12:
Consolidated
Transactional
Activities
Values in ZiG Billions
Payment
Stream
Q2

Q3

Change
from
last
quarter
Proportion
RTGS

POS

ATMS

Mobile

Internet

TOTAL

Volumes in millions
RTGS

POS

ATMs

Mobile

Internet

TOTAL

Source: Reserve Bank of Zimbabwe, 2024

LARGE VALUE PAYMENTS
Zimbabwe Electronic Transfer and Settlement
System
The value of transactions processed through the
RTGS system increased by 25.63% from
ZiG146.11 billion in the second quarter to
ZiG183.55 billion in the third quarter of 2024.
Similarly, the volume of RTGS transactions
increased by 10.03% to 3.04 million during the
third quarter of 2024, as shown in Figure 24.


30-Sep-23
31-Oct-23
30-Nov-23
31-Dec-23
31-Jan-24
29-Feb-24
31-Mar-24
30-Apr-24
31-May-24
30-Jun-24
31-Jul-24
31-Aug-24
30-Sep-24

Figure 24: Values and Volumes of RTGS
Transactions
Source: Reserve Bank of Zimbabwe, 2024
Retail Payments
The aggregate values of retail transactions
increased by 48.83% from ZiG96.94 billion in
June 2024 to ZiG144.28 billion in September
2024. Retail volumes, similarly, increased by
21.82% from 142.51 million to 173.60 million
recorded during the same period.

Figures 25 and 26 show the trend in the values
and volumes of retail transactions.


Figure 25: Retail Transaction Values

Source: Reserve Bank of Zimbabwe, 2024

Figure 26: Retail Transaction Volumes

Source: Reserve Bank of Zimbabwe, 2024

Vaules in Billions
Volumes in Millions
Values
Volumes

2024 Q1
2024Q2
2024Q3
Mobile in Billions
Other Retail Values in Billions
POS
ATMS
INTERNET
MOBILE


2024 Q1
2024 Q2
2024 Q3
Mobile Volumes in Millions
Other Retai Volumes in Millions
POS
ATMs
INTERNET
MOBILE

Collateral1
The value of collateral for Zimswitch, Central
Securities Depository (CSD) and Zimbabwe
Stock Exchange (ZSE) settlement systems
increased to ZiG384.37 million in the third
quarter from ZiG291.24 million recorded in the
second quarter of 2024. The increase was due to a
76% rise in Zimswitch Collateral balances.

Figure 27 shows the balances for the individual
collateral accounts.

Figure 27: Collateral Amounts (ZiG) from
March 2024 to September 2024
Source: Reserve Bank of Zimbabwe, 2024
The Victoria Falls Stock Exchange Limited
(VFEX) foreign currency collateral for the quarter
ended 30 September 2024 was USD 49 246.28. It
adequately covered the risk levels associated with
the platform’s transactional activities.

1 The local collateral figure comprises of Cheque,
Zimswitch, Chengetedzai Deposit Corporation settlement
system.

ACCESS POINTS AND DEVICES

Table 13 shows the access points and devices, for
the third quarter of 2023, the second and third
quarters of 2024.

Table 13: Payment Systems Access Points and
Devices
Payment System Access Points

Q3 2023
Q2 2024
Q3 2024
Mobile
Banking
Merchants
54,320
55,139
55,415
ATMs

POS
137,380
133,961
135,614
Payment Systems Access Devices
Debit Cards
5,400,225
5,766,583
5,872,074
Credit Cards
17,150
18,927
19,540
Prepaid Cards
213,983
140,228
143,598
Mobile
Banking
Subscribers
8,146,645
9,530,064
9,955,399
Internet
Banking
Subscribers
453,998
538,113
554,563
Source: Reserve Bank of Zimbabwe, 2024
Ordinary POS population increased to 135,614 in
the third quarter from 133,961 recorded during the
second quarter of 2024.

There were 9.96 million active mobile financial
services subscribers registered in the period under
review, an increase of 4% from 9.53 million
recorded in the quarter ending June 2024.

7.
FISCAL DEVELOPMENTS
Cumulative revenue inflows for the third quarter
of 2024 were ZiG25.86 billion whilst the

Quarter Ending
31 March 2024
Quarter Ending
30 June 2024
Quarter Ending
30 September

MILLIONS
ZSE
Zimswitch
CDC

corresponding expenditures for the same period
amounted to ZiG25.89 billion. This resulted in a
fiscal deficit of ZiG30.52 million.

Table 14 summarise fiscal developments during
the third quarter of 2024.

Table 14: Summary of Third Quarter Fiscal
Position

ZWG Millions
Revenue
25 860.40
Tax revenue
24 449.60
Non-Tax Revenue
1 410.80
Expenditure
25 890.93
Current expenditure
19 634.47
o/w employment costs
8 585.92
Capital Expenditure
6 256.46
Overall, Balance
(30.52)
Source: Ministry of Finance, Economic Development, and
Investment Promotion, 2024
Government Revenue

In the third quarter of 2024, total revenue of
ZiG25.86 billion was collected, with tax revenues
accounting for 94.55%. Non-tax revenues
collected amounted to ZiG1.41 billion, as shown
in Figure 28.


Figure 28: Government Revenue Structure
Source: Ministry of Finance and Economic Development, 2024
Government Expenditure
Total Government expenditures of ZiG25.89
billion were recorded in the quarter under
review. Of this, recurrent expenditures were
ZiG19.63 billion and capital expenditures
totalled ZiG6.26 billion.
Table 15 shows the summarised Government
expenditure in the third quarter of 2024.


Tax on
Income and
Profits,
31.19%
Customs
duties,
6.67%
Excise
duties,
10.05%
Taxes on
Specific
Services,
6.63%
Value
Added Tax
(VAT),
27.89%
Tax on
gross
Revenue,
5.82%
Taxes on
financial
and capital
transactions
, 6.14%
Other
Indirect
taxes ,
0.16%
Non-tax
Revenue,
5.5%

Table 15: Summarised Government Spending
(ZiG$ billions)

Q2 2024
Q3 2024
Total Expenditure
21 062.41
25 890.93
Current Expenditure
15 759.02
19 634.47
Employment Costs
8 649.75
8 585.92
Operations
and
Maintenance
7 013.24

10 239.36
Interest On debt
56.97
504.46
Transfers
to
Provincial and Local
Authorities
39.06
304.73
Capital Expenditure
5 303.39
6 256.46
Source: Ministry of Finance Economic Development, and
Investment Promotion 2024.
Current Expenditure
Expenditure on Government operations and
maintenance increased from ZiG7.01 billion in
the second quarter of 2024 to ZWG10.24 billion
in the third quarter of 2024, largely driven by
use of goods and services, grants, social
benefits, and subsidies.
Employment costs during the third quarter of
2024 amounted to ZiG8.59 billion, representing
a 0.74% decrease from ZiG8.65 billion realised
in the previous quarter.
Capital Expenditure
Government’s capital expenditure stood at
ZiG6.26 billion, accounting for 24.2% of total
spending during the third quarter of 2024. An
increase of 18% when compared to ZiG5.30
billion which was spent in the previous quarter.
Capital expenditure was largely driven by a
significant increase in road projects that were
undertaken
during
the
third
quarter
in
preparation of the hosting of the SADC Summit
2024.
Figure

shows
the
composition
of
Government expenditure during the third
quarter of 2024.
Figure 29: Government Expenditure, third
quarter 2024.
Source: Ministry of Finance, Economic Development,
and Investment Promotion 2024
Financing
The fiscal developments in the third quarter of
2024 culminated in a budget deficit of ZiG30.52
million. Figure 30 shows the overall budget
balance in the second and third quarters of 2024.
Operations and
Maintenance
39.5%
Transfers to Provincial
Councils and Local
Authorities
1.2%
Employment
Costs
33.2%
Interest on
debt
1.9%
Capital Expenditure
24.2%

Figure 30: Budget Balance (ZWG$ Billions)

Source: Ministry of Finance, Economic Development and
Investment Promotion, 2024


RESERVE BANK OF ZIMBABWE
NOVEMBER 2024


Revenue
Expenditure
Overall Balance
ZWG BILLIONS
Q2 2024
Q3 2024
STATISTICAL TABLES
1. Depository Corporation Survey 34
2. Central Bank Survey 35
3. Other Depository Corporation Survey 36

4. Liabilities and Assets of the Central Bank
4.1.Reserve Bank: Assets

4.2.Reserve Bank: liabilities 38


5. Other Depository Corporation
5.1.Other Depository Asset 39
5.2.Other Depository Liabilities 40

6. Commercial Banks
6.1.Commercial Banks: Assets

6.2.Commercial Banks: Liabilities

7. Building Societies


7.1.Building Societies: Assets

7.2.Building Societies: Liabilities 44


8. Sectoral Analysis of Commercial Banks
8.1.Sectoral Analysis of Commercial Banks’ Loans and Advances 45
8.2.Sectoral Analysis of Commercial Bank’s Deposits

9. National Payment Systems


9.1.Values of Transactions

9.2.Volumes of Transactions

10. Interest Rates, Security Yields and Prices
10.1. Lending Rates

10.2. Deposit Rates 48


11. Stock Exchange Indices

12. Inflation


12.1. Monthly Inflation

12.2. Quarterly Inflation

12.3. Annual Inflation

13. Balance of Payments
13.1. Cross Border Payments

13.2. Cross Border Receipts

Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
*Apr-24
*May-24
*Jun-24
*Jul-24
*Aug-24
*Sep-24
Net Foreign Assets

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Central Bank

ODCs

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base Money

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad Money

Broad Money-M2

Other Deposits

of which Foreign Currency Accounts

Narrow Money-M1

Transferable Deposits

Of which Foreign Currency Accounts

Currency Outside Depository Corporations

Memorandum Items
Reserve Money

FCAs as a Percentage of Deposits in M3

End Period Exchange Rate

Source: Reserve Bank of Zimbabwe, 2024
Notes:
(i) Depository corporations survey - formerly Monetary Survey.
(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.
(iii) Transferable deposits made up of demand and savings deposits.
(iv) NCDs are also referred to as securities included in broad money.
(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.
(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)
(vii) Depository corporations made up of the Central Bank and other depository corporations
(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Bank
(xi) In December 2018, statistics were revised from November 2017 due to reclassification of lines of credit (foreign liabilities) that were initially classified as deposits included in broad money
(xii) All monetary and financial statistics are valued in $ since the introduction of the interbank foreign exchange market in February 2019
(xii) All monetary and financial statistics are valued in ZWL$ since the introduction of the interbank foreign exchange market in February 2019
*Statistics are denominated in ZiG
TABLE 1: DEPOSITORY CORPORATIONS SURVEY (ZWG '000)

Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
*Apr-24
*May-24
*Jun-24
Jul-24
Aug-24
Sep-24
Net Foreign Assets

Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities*

of which blocked funds

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Loans

Loans and Advances

Legacy Debt

Export Incentives

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)

Shares and Other Equity

Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base Money

Monetary Base

Bond Coins

Bond Notes

Zig Notes

ZiG Coins

Liabilities to ODCs

Local Currency Reserve Deposits

Foreign Currency Reserve Deposits

Exess reserves

Private Deposits

Source: Reserve Bank of Zimbabwe 2024
NB: * Other Foreign Liabilities include blocked funds amounting to USD2.2 billion assumed by the Central Bank on behalf of Government.
*Statistics are denominated in ZiG
TABLE 2: CENTRAL BANK SURVEY (ZWG'000)

Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
*Apr-24
*May-24
*Jun-24
Jul-24
Aug-24
Sep-24
Net Foreign Assets

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Securities

Loans

Other

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on the Central Bank

Currency

Reserves

Securities

Other Claims

Liabilities to the Central Bank

Other Items(Net)

Shares and Other Equity

Liabilities to other ressident sectors

Other Items(Net)

Deposits and Securities Included in Broad Money

Deposits Included in Broad Money

Transferable Deposits

of which FCAs

Other Deposits

of which FCAs

Money Market Instruments

Source: Reserve Bankof Zimbabwe, 2024
*Statistics are denominated in ZiG
TABLE 3: OTHER DEPOSITORY CORPORATIONS SURVEY (ZWG'000)

ZWG Thousands
End of
Gold
Other
Total
Treasury Bills
Central
Banks
Other
Govt.
Other
Other Assets
TOTAL
Government
Stock

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Apr

*May

*Jun

*Jul

*Aug

*Sep

Source: Reserve Bank of Zimbabwe, 2024
*Statistics are denominated in ZiG
TABLE 4.1: RESERVE BANK - ASSETS
Foreign Assets
Loans and advances
Investments

TABLE 4.2 RESERVE BANK: LIABILITIES
Capital
and
Foreign
general
Bond Notes in
Circulation
Bond Coins in
Circulation
Bond Notes and
Bankers Deposits
Other Deposits
Govt. Deposits
Total Deposits
Liabilities
reserve
Other Liabilities
TOTAL
coins* issued

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Apr

*May

*Jun

*Jul

*Aug

*Sep

Source: Reserve Bank of Zimbabwe, 2024
*Bond coins first issued in December 2014
* Bond Notes issued on 28 November 2016
*Statistics are denominated in ZiG
ZWG Thousands
Deposits

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Local
Other
Notes &
Coin
with
Other Depository
with
on
Government1
Governemt
Other2
Government
Local
Public
Institutional
Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Units
Assets

Jan
1,483.3

42,733.9

77,994.4

13,109.2

40,071.8


Feb
1,735.4

41,180.7

76,140.3

17,748.1

39,141.4


Mar
1,457.1

40,953.3

83,032.1

6,945.5

42,516.8


Apr
1,699.7

40,964.4

85,330.2

6,844.8

49,733.4


May
1,906.1

30,579.1

94,330.9

7,907.2

63,644.8


Jun
1,702.8

30,255.6

75,795.2

25,605.9

72,780.6


Jul
2,139.9

30,509.1

104,983.5

17,817.9

82,032.9


Aug
2,551.1

33,323.4

93,806.9

11,919.2

72,753.9


Sep
2,853.7

38,500.1

100,996.0

8,626.8

68,707.9


Oct
2,611.1

50,074.7

108,009.2

9,575.8

89,822.4


Nov
2,721.5

53,424.3

107,781.7

15,560.6

74,072.3


Dec
2,838.3

50,031.0

118,451.3

13,654.0

91,352.6


Jan
2,891.2

53,378.3

116,654.8

13,232.3

69,668.2


Feb
2,577.7

62,064.5

122,479.8

17,480.5

76,802.2


Mar
2,111.5

76,544.2

142,962.5

19,239.6

87,884.5


Apr
2,624.9

74,716.9

160,466.5

28,352.1

123,190.3


May
3,155.9

142,118.9

236,166.0

35,928.9

207,812.8


Jun
2,801.2

138,347.1

266,691.8

45,952.0

241,920.1


Jul
2,427.6

159,024.6

315,832.5

39,388.2

230,432.5


Aug
2,640.6

263,637.4

411,439.9

69,203.5

311,107.0


Sep
3,030.7

289,230.8

504,071.1

75,446.7

417,007.1


Oct
3,022.6

300,240.3

525,870.3

104,483.2

389,979.7


Nov
3,251.4

286,365.2

575,885.7

111,716.1

342,790.1


Dec
3,361.7

295,435.1

652,284.4

119,932.8

351,906.8


Jan
4,923.3

379,841.7

704,168.6

151,980.1

389,342.8


Feb
1,880.1

436,062.8

743,888.5

81,067.5

518,081.0


Mar
2,031.6

425,326.5

817,631.1

112,374.3

531,935.4


Apr
1,844.7

462,081.4

972,122.7

161,740.7

620,095.0


May
1,107.2

1,048,116.4

2,049,066.1

309,234.1

1,554,969.0


Jun
1,984.5

2,249,201.6

4,424,350.0

471,360.3

3,050,984.1


Jul
1,489.0

1,584,403.3

4,137,377.2

380,493.0

3,132,849.9


Aug
2,292.1

1,505,916.2

4,651,358.8

448,025.8

3,179,274.3


Sep
2,465.6

2,015,621.6

5,263,338.5

560,033.8

3,210,332.7


Oct
2,425.4

2,312,575.1

5,910,277.9

751,077.6

2,663,186.5


Nov
2,705.3

2,558,589.3

6,324,144.1

730,377.0

2,788,783.6


Dec
3,398.4

2,868,505.6

5,973,706.9

918,524.5

2,631,445.7


Jan
2,947.9

5,196,670.6

9,096,074.6

1,414,527.9

3,957,664.6


Feb
3,143.6

7,309,077.0

12,595,037.9

2,395,225.7

5,340,576.7


Mar
2,831.0

9,785,505.6

16,734,744.0

3,185,636.7

7,548,560.1


*Apr
7.5

4,794.8

11,004.0

2,108.7

5,798.1


*May
15.0

4,337.6

12,420.7

2,281.4

6,437.2


*Jun
9.2

4,753.1

12,746.0

2,349.5

6,493.3


*Jul
7.5

5,739.9

11,453.3

1,987.0

6,135.6


*Aug
6.4

6,444.9

13,516.2

2,310.5

4,922.1


*Sep
7.9

10,895.9

22,399.7

3,870.6

8,728.6


Source:Reserve Bank of Zimbabwe, 2024
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations.
*Statistics are denominated in ZiG
Debt Securities
Loans and Advances
Public
Enterprises
TABLE 5.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
ZWG millions

Foreign Liabilities
Capital
Contigent
Other
TOTAL
and
Liablities
Liablities
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Apr

*May

*Jun

*Jul

*Aug

*Sep

Source:Reserve Bank of Zimbabwe,2024
*Statistics are denominated in ZiG
TABLE 5.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
ZWG millions
Deposits
Amounts Owing to
Debt Securities

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1 Local GovernemtPublic Enterprises
Other2
Government
Government
Enterprises
Institutional Units3 Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks Non-residents
Securities
securities

Jan
1,237.43

39,565.64

71,463.64

12,288.89

39,092.85

10,921.99

8,281.80

-

-

1.18

16.67

18.01

1,264.28

71,090.96

718.83

25,036.22

12,333.21

32,123.11

325,454.7

Feb
1,320.27

38,100.03

69,341.48

16,867.76

38,108.83

6,341.39

12,518.15

-

-

1.26

24.15

22.69

1,493.66

77,324.34

774.89

28,339.17

15,953.14

33,612.14

340,143.4

Mar
1,244.16

38,369.53

76,479.44

5,317.61

41,401.24

8,733.65

15,889.61

-

19.21

34.56

15.17

21.67

1,309.75

80,607.03

878.97

32,908.13

19,302.34

30,861.86

353,393.9

Apr
1,430.83

38,008.89

79,592.64

5,639.40

48,564.03

7,679.05

18,267.01

-

19.23

62.89

19.86

12.71

1,336.70

91,062.16

956.75

34,537.88

21,214.88

32,383.77

380,788.7

May
1,648.09

28,677.21

87,611.51

6,479.66

59,745.10

11,582.44

18,846.75

-

152.75

93.37

21.77

16.58

1,263.75

94,790.46

990.41

35,592.28

21,398.95

31,307.45

400,218.5

Jun
1,419.27

28,452.53

69,413.26

24,215.35

70,835.98

17,601.31

17,152.75

-

19.46

92.91

17.91

77.79

1,511.86

106,954.15

1,247.08

26,856.45

26,444.57

33,288.94

425,601.6

Jul
1,794.72

29,100.73

97,429.50

15,901.02

79,937.02

25,314.30

21,665.10

-

290.76

47.39

17.32

67.80

1,351.13

117,348.16

1,301.18

26,869.18

29,079.64

33,587.68

481,102.6

Aug
2,137.72

31,734.84

85,441.98

9,099.10

70,391.64

25,194.95

31,434.20

-

339.72

51.28

22.49

63.94

1,583.28

132,522.63

1,337.19

32,281.12

30,022.43

37,697.05

491,355.6

Sep
2,417.81

36,259.54

93,032.71

6,164.78

66,640.78

25,023.38

31,460.81

-

366.88

57.60

21.07

62.45

1,531.08

134,780.92

1,342.62

31,980.97

30,439.34

34,630.85

496,213.6

Oct
1,993.06

47,379.62

99,470.02

7,339.71

86,302.62

26,924.18

37,639.16

-

188.07

121.59

21.20

75.41

1,683.89

149,477.36

1,523.34

49,580.96

40,853.06

36,664.31

587,237.6

Nov
2,168.80

49,327.15

100,125.90

12,723.73

71,667.33

29,748.47

41,015.56

-

187.03

999.12

21.24

74.76

1,882.53

168,661.25

1,484.24

52,327.68

40,073.22

43,878.52

616,366.5

Dec
2,315.32

46,412.99

109,803.84

10,942.92

87,347.07

33,690.93

38,610.29

-

185.99

4,146.13

21.09

167.53

2,798.61

184,836.87

3,368.75

60,916.98

41,811.67

59,011.63

686,388.6

Jan
2,359.27

49,206.02

108,119.97

10,419.90

66,808.45

30,774.31

38,636.84

-

186.80

801.50

20.33

163.02

3,628.73

199,495.34

2,997.94

53,627.76

47,405.91

69,989.80

684,641.89

Feb
1,971.78

57,553.54

112,522.99

14,300.66

70,750.63

28,703.53

44,705.21

-

-

976.55

20.34

158.06

5,367.16

215,520.37

3,055.50

55,099.61

53,459.12

70,832.47

734,997.53

Mar
1,541.49

70,856.33

130,423.48

15,503.46

82,662.70

43,284.13

44,874.23

-

-

1,380.20

19.40

253.42

6,240.94

258,715.05

3,092.69

65,660.61

58,874.69

76,938.87

860,321.67

Apr
1,939.64

70,204.43

144,168.02

23,452.88

117,033.42

26,628.79

57,772.47

-

-

722.54

37.54

252.44

6,858.06

305,476.79

4,348.46

53,372.28

62,788.55

71,414.75

946,471.05

May
2,397.94

131,996.38

211,837.59

31,586.61

190,366.81

61,757.62

64,373.91

-

154.99

1,559.14

41.28

289.00

16,193.81

398,048.90

4,712.74

134,993.54

94,851.60

111,543.84

1,456,705.70

Jun
2,263.18

127,839.16

234,109.43

40,937.28

219,607.39

63,631.76

83,690.44

-

653.97

2,159.12

61.20

226.29

13,888.60

478,163.38

8,954.46

169,511.81

110,528.09

168,440.54

1,724,666.09

Jul
1,578.47

147,217.74

284,912.89

34,334.13

202,815.28

41,246.78

86,971.63

-

394.34

1,852.14

100.65

349.68

22,516.21

556,692.12

9,737.92

144,090.18

129,869.55

192,524.32

1,857,204.02

Aug
1,630.70

247,190.46

377,078.80

64,650.96

273,181.97

29,186.59

95,346.12

-

330.12

3,556.96

113.50

287.14

26,564.57

681,253.30

11,493.92

167,029.36

238,442.98

194,745.11

2,412,082.57

Sep
1,791.71

270,594.59

465,301.31

68,020.95

370,323.69

18,184.96

134,414.53

-

267.40

4,916.56

115.11

306.33

21,773.50

806,774.24

12,680.89

146,133.14

215,417.68

219,933.24

2,756,949.83

Oct
1,704.79

281,204.64

480,106.49

94,573.08

343,440.15

22,895.35

136,939.74

-
204.69

2,201.55

116.48

341.96

22,935.50

852,069.39

15,525.65

165,306.91

232,188.99

245,924.22

2,897,679.60

Nov
1,644.95

259,109.18

533,438.97

101,870.32

299,715.01

17,089.04

180,534.44

-
141.97

2,292.28

119.53

303.55

22,178.73

960,814.77

15,450.39

170,944.78

196,338.19

250,551.19

3,012,537.30

Dec
1,778.71

263,863.65

603,136.26

110,935.77

299,087.30

7,965.37

266,725.41

-
79.26

3,887.78

114.42

282.61

30,272.25

1,066,654.12

16,130.63

159,126.16

189,560.01

344,235.10

3,363,834.80

Jan
2,391.61

340,953.56

654,740.29

143,455.70

335,380.17

(1,443.59)

301,026.07

-

105.97

4,873.87

228.45

251.24

44,113.17

1,307,512.98

17,767.70

227,545.42

204,830.78

374,080.77

3,957,814.16

Feb
1,470.56

366,544.71

691,937.49

71,097.36

452,795.43

21,074.53

306,913.92

-

50.02

1,524.98

318.96

197.44

44,691.50

1,481,851.05

18,037.18

226,932.96

224,983.29

411,002.80

4,321,424.21

Mar
1,771.98

344,570.46

755,463.34

103,284.07

478,333.21

41,928.66

330,669.68

-

-

3,884.11

432.22

149.78

48,725.38

1,679,284.89

28,439.56

554,840.85

254,605.57

438,790.17

5,065,173.94

Apr
1,631.24

388,822.83

903,029.49

144,252.31

555,886.92

32,206.95

361,846.09

-

-

8,716.45

559.82

99.28

54,058.39

1,722,384.40

28,899.91

214,270.92

321,765.39

476,263.19

5,214,693.59

May
1,010.26

907,818.70

1,932,225.57

281,052.93

1,351,116.97

84,147.32

570,367.60

-

-

8,974.78

4,599.15

80.34

112,188.06

3,844,133.80

65,696.39

607,438.10

669,908.72

758,154.17

11,198,912.85

Jun
1,762.11

1,979,000.71

4,218,755.04

444,538.09

2,584,596.63

350,042.51

865,465.55

-

-

221.09

10,133.46

8,052.34

260,946.26

8,487,837.63

92,224.26

1,390,786.24

1,304,228.92

2,222,499.38

24,221,090.21

Jul
1,305.13

1,428,604.02

3,898,282.53

359,151.15

2,646,743.26

337,541.82

1,133,463.14

-

-

153.30

7,368.09

68.07

208,253.70

6,917,007.30

129,308.58

829,382.28

1,155,945.57

2,438,538.20

21,491,116.14

Aug
1,664.09

1,370,651.81

4,309,693.74

391,792.23

2,693,989.06

208,098.88

1,084,784.90

-

-

138.30

7,469.95

75.80

205,341.47

6,863,348.14

127,816.16

701,626.16

1,081,800.09

2,446,465.02

21,494,755.81

Sep
1,503.56

1,763,364.33

4,914,305.55

517,813.92

2,760,807.78

247,094.60

1,204,684.14

-

-

9.75

9,935.82

92.05

219,878.94

8,245,053.80

151,685.43

776,997.57

1,312,147.78

2,668,520.81

24,793,895.84

Oct
1,977.18

2,059,471.85

5,625,069.70

562,790.91

2,202,475.21

175,235.94

1,172,130.22

-

-

0.03

10,816.83

98.06

237,525.73

8,864,363.09

153,534.70

958,746.42

1,351,846.54

2,767,099.33

26,143,181.72

Nov
2,295.18

2,278,921.91

5,913,094.15

568,556.41

2,451,981.00

180,229.25

1,337,040.40

-

-

0.03

10,921.42

59.77

238,702.30

9,040,518.08

158,702.11

1,046,256.98

1,702,370.26

2,868,031.98

27,797,681.23

Dec
2,947.49

2,536,437.97

5,489,443.24

657,432.63

2,268,702.96

155,742.88

2,420,663.39

-

-

0.03

12,324.59

73.45

248,699.79

9,507,281.46

255,007.08

1,184,706.91

1,748,495.98

3,349,062.31

29,837,022.16

Jan
2,536.36

4,749,173.95

8,535,153.83

940,210.80

3,564,879.01

285,807.60

3,972,600.87

-

-

0.03

17,912.41

198.80

374,088.29

14,957,169.30

312,516.30

1,949,662.45

2,737,500.88

4,289,981.53

46,689,392.37

Feb
2,519.25

6,564,463.71

11,709,703.62

1,772,649.65

4,708,270.62

153,450.01

5,911,393.45

-

-

0.03

26,073.06

232.00

488,602.76

22,234,523.09

378,975.16

2,608,075.14

3,125,793.33

5,812,047.28

65,496,772.18

Mar
2,435.72

8,601,285.46

15,501,059.95

2,213,233.27

6,701,169.42

775,336.87

8,098,495.31

-

-

0.03

47,609.35

143.35

729,484.92

34,077,197.02

597,886.20

2,860,196.61

4,317,386.46

8,974,860.63

93,497,780.56

*Apr
5.89

4,141.51

9,980.68

1,414.28

5,461.70

287.09

5,206.08

-

-

0.00

31.18

88.00

440.49

20,170.86

246.21

2,510.15

5,472.97

4,360.99

59,818.08

*May
10.60

3,583.02

11,575.45

1,506.01

6,092.37

382.87

5,420.56

-

-

0.00

29.63

1.37

433.36

21,315.87

348.50

2,114.73

6,339.55

4,613.87

63,767.76

*Jun
8.01

4,111.49

11,498.97

1,627.32

5,775.34

298.05

6,080.69

-

-

7.23

24.70

1.49

446.45

22,801.09

345.72

2,541.32

6,558.03

5,419.46

67,545.34

*Jul
5.05

4,943.82

10,426.18

1,342.47

5,743.94

351.44

6,988.99

-

0.00

5.21

25.13

0.16

432.35

24,895.03

348.09

2,342.85

6,539.59

6,244.23

70,634.52

*Aug
5.26

5,703.86

12,540.81

1,453.04

4,411.38

205.93

6,149.38

-

-

2.43

126.05

0.19

378.05

25,591.15

542.15

2,767.89

7,004.36

6,832.60

73,714.52

*Sep
6.82

9,465.31

20,161.22

2,742.22

7,903.81

340.45

10,295.58

-

-

0.00

244.94

0.33

600.93

43,094.11

979.13

4,853.44

11,326.85

9,785.35

121,800.51

Source:Reserve Bank of Zimbabwe,2024
Statistics are denominated in ZiG
TABLE 6.1: COMMERCIAL BANKS -ASSETS
ZWG millions
Debt Securities
Loans and Advances

ZWG millions
End of
Demand
Savings
Time Deposits Total Deposits Other Depository Government
Total
Debt Securities Foreign Liabilities
RBZ
Other Depository Other Finacial
Capital
Contigent
Other
from the public
Corporations
Corporations
Corporations
and
Liablities
Liablities
TOTAL
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Apr

*May

*Jun

*Jul

*Aug

*Sep


Source: Reserve Bank of Zimbabwe, 2024
*Statistics are denominated in ZiG
TABLE 6.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Foreign
Other Assets
Non Financial
TOTAL
End of
Notes
Assets
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government1 Local Governemt Public Enterprises
Other2
Mortgages
Government
Other
Coins
RBZ
Corporations
Foreign Banks Non-residents
Securities
securities

Jan
188.7

2943.3
5,986.5

793.8
843.5

-

1,783.8

10.2
-

211.3

1,091.3

0.0

9,329.1

2980.3
7,685.1

33,846.9

Feb
345.7

2762.9
6,004.8

811.1
984.2

-

2,731.0

9.2
-

236.8

2,089.3

-

8,950.2

2949.2
7,790.6

35,665.0

Mar
168.3

2278.9
6,313.1

1594.4
1,028.2

-

1,341.7

8.4
-

415.1

1,242.4

-

10,867.7

3027.5
7,841.0

36,126.8

Apr
206.9

2702.1
5,302.6

1156.7
1,085.4

-

871.7

7.7
-

508.9

1,581.5

-

14,233.6

3431.1
7,237.9

38,326.2

May
210.3

1687.6
5,962.2

1250.9
3,847.1

-

116.9

7.0
-

517.7

1,568.8

-

17,154.9

2927.9
7,532.9

42,784.2

Jun
249.6

1649.7
6,202.6

1163.8
1,866.7

-

204.6

6.5
-

588.0

1,851.9

-

18,795.4

2580.9
7,701.1

42,860.7

Jul
283.7

1212.2
7,193.4

1892.7
1,875.4

-

1,143.4

6.0
-

447.3

1,963.2

-

18,280.3

3923.5
7,695.6

45,916.5

Aug
352.8

1408.8
7,869.3

2537.6
2,316.2

-

3,535.6

5.4
-

399.5

2,101.3

-

19,422.2

3837.6
7,666.6

51,453.0

Sep
349.8

1926.6
7,608.5

2430.2
1,941.4

-

4,314.6

5.1
-

205.2

2,231.7

-

20,461.1

4013.2
9,460.7

54,948.1

Oct
411.5

2396.2
8,221.0

2162.4
3,421.5

-

5,627.7

4.3
-

271.1

2,539.5

-

22,881.3

5432.3
9,501.3

62,870.1

Nov
339.8

3578.4
7,561.6

2568.8
2,299.5

-

5,882.7

3.7
-

566.4

2,788.5

-

27,326.1

4400.3
9,614.3

66,930.0

Dec
351.1

3217.3
8,557.8

2619.2
3,620.2

-

2,353.6

3.0
-

1,189.0

2,786.9

-

33,115.3

5610.8
11,334.1

74,758.3

Jan
324.6

3504.3
8,506.5

2680.3
2,631.0

-

1,110.8

2.4
-

1,487.3

2,967.6

-

35,913.5

6693.8
14,008.7

79,830.9

Feb
411.5

4021.5
9,763.6

3069.7
5,678.0

-

4,048.9

1.6
-

1,465.4

3,241.1

-

39,977.5

4511.5
13,964.4

90,154.6

Mar
354.3

4413.6
11,882.6

3691.3
4,932.3

-

5,235.0

0.9
-

1,590.0

3,888.3

-

42,741.3

9086.6
15,421.2

103,237.4

Apr
546.4

3054.1
15,585.8

4857.7
5,768.6

-

5,714.4

0.2
-

1,861.4

4,143.7

-

48,582.4

9654.2
16,999.2

116,768.1

May
639.5

8326.7
23,817.6

4251.9
16,001.6

-

6,150.9

0.0
-

1,486.3

8,474.8

-

74,864.0

14793.9
17,091.2

175,898.5

Jun
418.5

8464.3
32,497.6

3807.5
21,184.8

-

2,639.3

0.0
-

1,340.0

10,851.1

-

85,145.9

18155.8
35,128.1

219,633.0

Jul
700.4

9914.6
30,660.3

4983.4
24,902.9

-

4,077.6

0.0
-

1,411.5

13,722.1

-

98,066.0

9998.6
45,127.9

243,565.1

Aug
863.8

14422.1
33,703.2

4483.0
34,971.8

-

4,379.8

0.0
-

2,106.6

16,515.4

-

115,491.9

8745.3
45,694.0

281,377.1

Sep
1,086.8

14998.2
37,911.3

7470.1
45,094.8

-

8,440.8

0.0
-

1,302.8

17,996.8

-

129,242.7

11630.7
60,830.4

336,005.2

Oct
1,158.3

14768.7
44,296.5

10013.7
44,664.1

-

14,109.9

0.0
-

1,142.4

16,817.7

-

123,793.8

30036.4
47,678.2

348,479.7

Nov
1,449.3

22456.9
41,398.0

9771.8
41,317.6

-

17,572.6

0.0
-

2,085.3

16,785.8

-

136,029.9

30694.0
46,275.8

365,836.9

Dec
1,470.7

23012.7
48,533.8

8913.7
50,229.0

-

21,411.1

0.0
19993.4
2,176.2

17,693.7

-

119,322.3

39279.1
69,102.5

421,138.1

Jan
2,402.7

32405.1
47,062.6

8410.8
50,364.6

-

17,976.2

0.0
23,668.5

2,406.3

18,311.0

-

132,757.4

41367.4
69,570.1

446,702.8

Feb
234.9

59685.4
50,103.0

9568.6
62,701.4

889.9

24,809.7

0.0
26,667.1

4,451.9

21,629.1

-

146,798.4

50093.6
70,987.9

528,620.9

Mar
214.6

72311.9
57,399.6

9196.8
51,300.9

-

28,841.5

0.0
24,689.0

5,503.9

19,118.6

-

170,376.6

54524.7
84,489.1

577,967.3

Apr
184.1

61341.6
63,129.5

16343.2
61,444.0

-

28,727.0

0.0
28,119.0

5,989.2

27,619.9

-

205,412.2

81442.9
86,571.2

666,323.9

May
78.1

125685.1
100,808.7

22707.0
195,646.6

-

81,344.3

0.0
69,908.9

6,246.8

53,180.7

-

440,462.4

103176.1
116,103.7

1,315,348.2

Jun
176.6

227001.8
172,666.5

25998.2
452,772.6

40,326.7

115,193.3

0.0
196,310.3

4,209.5

121,677.5

-

870,075.1

230604.4
544,587.8

3,001,600.3

Jul
162.7

132017.2
220,995.0

20797.2
459,668.2

32,010.8

105,308.6

0.0
154,472.7

13,777.8

153,638.5

-

697,177.8

209734.6
612,937.8

2,812,698.9

Aug
611.0

105296.6
309,821.7

55744.7
475,838.3

37,447.1

102,495.2

0.0
153,578.2

6,767.5

135,193.3

-

758,439.2

223114.4
564,622.1

2,928,969.2

Sep
949.3

193065.6
339,269.2

41680.1
437,996.0

58,554.5

110,351.3

0.0
161,346.6

4,522.1

153,113.7

-

880,148.8

290026.7
565,616.4

3,236,640.3

Oct
403.8

204713.4
254,684.1

187632.1
440,150.3

65,022.1

97,046.1

0.0
176,111.9

13,771.8

173,523.5

-

829,479.5

345029.3
586,015.6

3,373,583.5

Nov
370.5

222344.7
387,213.2

160896.0
326,510.1

50,688.3

159,225.4

0.0
173,990.9

28,127.2

187,363.3

-

926,663.7

395549.5
595,811.6

3,614,754.5

Dec
403.7

251968.8
457,034.9

261067.9
345,348.0

56,551.7

185,131.1

0.0
166902.0
27,875.9

222,503.1

0.7

973,788.6

507890.9
658,045.7

4,114,512.9

Jan
367.9

368046.7
524,020.9

471915.0
363,325.6

40,412.9

280,803.2

0.0
280441.0
45,935.9

339,610.7

-

1,563,405.5

649087.4
742,734.0

5,670,106.8

Feb
578.8

637645.2
797,581.2

618074.6
613,309.7

24,680.4

425,783.2

0.0
399313.5
67,900.2

519,513.4

-

2,188,186.8

904519.6
937,957.6

8,135,044.1

Mar
356.6

1026840.5
1,171,941.4

888362.3
829,470.4

-

440,943.8

0.0
528820.5
103,276.3

787,872.2

-

3,761,909.8

1403556.4
1,697,667.5

12,641,017.5

*Apr
1.0

564.4
864.1

693.0
326.5

67.2

337.2

0.0
313.5
-

593.2

212.7

2,856.8

420.1
824.2

8,074.0

*May
4.0

639.2
783.2

772.6
296.2

109.6

407.6

0.0
303.7
-

309.2

19.8

2,946.5

712.1
903.7

8,207.5

*Jun
1.1

520.3
1,122.4

718.7
678.1

110.9

188.6

0.0
282.9
-

424.7

20.4

2,998.6

858.8
1,229.8

9,155.3

*Jul
2.4

681.0
918.2

640.3
336.2

99.8

676.7

0.0
276.2
5.0

333.9

20.5

3,022.2

1332.3
1,250.3

9,595.1

*Aug
1.1

642.2
853.3

852.1
428.1

-

764.6

0.0
246.2
5.1

373.1

20.6

3,042.5

1811.8
1,318.9

10,359.6

*Sep
1.0

1230.9
1,985.1

1121.2
705.4

-

555.5

0.0
431.0
34.5

1,130.0

37.0

4,878.1

2054.8
2,298.6

16,463.3

Source:Reserve Bank of Zimbabwe,2024
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
* Statistics are denominated in ZiG
TABLE 7.1: BUILDING SOCIETIES -ASSETS
ZWG millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Other
TOTAL
and
Liablities
End of
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Apr

*May

*Jun

*Jul

*Aug

*Sep

Source:Reserve Bank of Zimbabwe, 2024
* Statistics are denominated in ZiG
Amounts Owing to
TABLE 7.2: BUILDING SOCIETIES -LIABILITIES
ZWG millions

TABLE 8.1: SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
ZWG ('000)

AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

June

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Apr

*May

*Jun

*Jul

*Aug

*Sep

Source:Reserve Bank of Zimbabwe,2024
*Statistics are denominated in ZiG

END OF
AGRICULTURE
CONSTRUCTION
COMMUNICATIONS
DISTRIBUTION
FINANCIAL&INV
ESTMENT
FINANCIAL ORG
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Apr

*May

*Jun

*Jul

*Aug

*Sept

Source:Reserve Bank of Zimbabwe, 2024
*Statistics are denominated in ZiG
TABLE 8.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
ZWG('000)

End of
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET
End of
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan
255,551.32
-
21,042.23 2,300.31 35,349.13 66,624.38
Jan
720.03
-
9,849.33 228.95 94,691.39 872.24
Feb
226,335.83
-
22,882.64 2,288.90 36,434.44 63,598.24
Feb
805.99
-
12,309.28 527.83 90,078.04 754.86
Mar
320,422.14
-
28,569.92 3,316.59 44,523.99 86,463.87
Mar
1,112.80
-
15,178.81 751.04 105,271.97 1,003.73
Apr
288,958.76
-
30,071.50 2,807.02 44,131.56 90,580.45
Apr
951.67
-
15,184.98 605.53 97,253.26 1,040.08
May
361,427.10
-
36,765.06 3,193.67 49,745.80 89,471.34
May
1,029.79
-
16,511.28 664.43 103,708.73 994.81
Jun
388,757.52
-
38,540.10 3,200.04 51,437.41 115,145.66
Jun
1,076.92
-
14,797.88 581.86 99,349.63 982.07
Jul
379,659.93
-
45,808.07 2,489.07 57,565.84 145,026.95
Jul
1,028.17
-
15,217.56 550.97 102,587.60 980.77
Aug
397,539.02
-
52,853.87 4,086.04 60,908.40 159,206.60
Aug
1,045.02
-
14,624.45 475.41 105,269.73 955.77
Sep
477,933.57
-
52,262.68 4,179.52 64,139.24 181,194.82
Sep
1,193.13
-
15,397.64 492.21 104,141.94 2,092.60
Oct
481,180.88
-
53,165.93 3,839.95 65,329.02 197,972.49
Oct
1,114.18
-
18,207.42 434.49 107,294.58 2,342.61
Nov
621,896.69
-
56,025.31 4,877.03 63,017.52 252,407.92
Nov
1,144.91
-
17,435.88 477.03 98,386.51 2,322.92
Dec
747,035.61
-
67,903.92 4,705.45 76,511.57 264,749.24
Dec
1,220.28
-
20,029.57 519.50 106,428.62 2,580.64

Jan
802,677.72
-
55,961.62 5,074.74 53,456.29 218,545.32
Jan
957.90
-
15,480.23 439.87 83,661.76 1,902.89
Feb
672,722.97
-
59,581.58 5,607.02 66,811.97 238,910.83
Feb
981.01
-
15,190.39 433.68 78,916.08 1,895.33
Mar
961,452.00
-
75,050.75 7,882.23 82,886.94 342,168.72
Mar
1,242.33
-
16,967.63 519.12 87,501.09 2,128.58
Apr
976,617.19
-
89,192.57 8,391.54 89,671.98 293,204.61
Apr
1,073.00
-
15,906.24 457.99 82,673.39 1,937.64
May
1,205,990.00
-
110,807.30 13,712.78 106,881.76 469,185.15
May
1,213.50
-
16,069.94 477.80 78,385.20 2,001.20
Jun
1,601,225.31
134,550.97 18,810.59 123,721.28 618,347.53
Jun
1,190.30
-
15,304.67 474.16 75,631.66 1,705.09
Jul
1,754,111.97
-
170,480.64 20,413.15 172,562.48 713,401.10
Jul
1,115.80
-
16,063.84 517.03 88,030.56 1,866.70
Aug
2,334,295.00
-
152,343.37 31,418.59 178,188.87 826,377.12
Aug
1,028.04
-
13,686.77 489.08 76,957.81 1,623.75
Sep
2,793,056.56
-
177,701.71 35,144.35 202,368.06 872,807.43
Sep
1,084.61
-
13,818.44 455.52 71,362.13 2,225.19
Oct
2,728,731.30
-
186,478.90 50,202.30 209,758.00 622,412.80
Oct
969.30
-
12,986.80 510.90 67,641.70 1,825.40
Nov
3,370,779.90
-
202,876.20 61,086.70 213,295.30 734,610.60
Nov
1,001.40
-
12,324.10 499.90 59,151.50 2,430.20
Dec
3,310,814.90
-
246,783.60 76,872.00 249,516.40 1,106,346.50
Dec
1,013.60
-
14,316.90 616.70 60,584.50 2,469.80

Jan
3,289,379.32
-
240,010.34 68,386.68 238,455.31 1,107,756.41
Jan
918.88
-
11,733.99 444.00 48,617.07 1,692.96
Feb
3,050,933.28
-
219,437.84 73,672.28 245,282.55 1,202,998.52
Feb
886.75
-
10,301.47 479.91 43,326.51 1,895.81
Mar
5,068,223.68
-
308,609.08 85,343.38 328,822.35 1,517,972.57
Mar
1,092.60
-
13,216.99 593.97 50,037.43 1,927.14
Apr
5,294,044.55
-
341,571.29 79,754.60 355,007.31 1,517,972.57
Apr
907.55
-
14,375.14 526.73 47,171.67 1,982.93
May
6,275,310.72
-
518,333.86 173,170.74 532,078.61 3,274,968.53
May
1,119.24
-
12,808.69 576.68 49,143.18 2,233.62
Jun
17,059,664.04
-
882,362.57 615,190.92 1,210,486.16 6,640,627.10
Jun
1,050.21
-
10,190.63 606.04 45,488.80 1,212.97
Jul
17,859,586.39
-
1,033,836.89 541,445.55 1,620,242.78 6,077,538.29
Jul
942.67
-
8,226.82 1,777.10 42,648.82 993.68
Aug
17,955,865.49
-
1,017,990.47 649,827.89 1,440,537.41 6,244,772.44
Aug
888.00
-
8,434.65 653.58 42,648.82 977.54
Sep
18,690,087.00
-
1,221,725.29 773,363.92 1,672,654.21 7,746,084.35
Sep
964.06
-
9,658.95 703.55 45,148.73 1,061.36
Oct
19,808,639.10
-
1,264,577.16 826,681.17 5,116,902.86 8,661,662.90
Oct
949.14
-
9,449.30 618.97 50,640.61 904.41
Nov
23,685,304.81
-
1,429,269.50 901,515.57 1,999,069.40 9,557,300.70
Nov
924.50
-
9,525.69 623.29 52,332.44 1,048.50
Dec
26,396,219.43
-
1,805,050.47 1,092,682.60 2,604,059.19 10,150,615.33
Dec
924.47
-
11,845.97 776.49 56,450.97 1,026.21

Jan
28,285,124.94
-
1,907,120.03 1,843,871.04 4,295,911.58 22,017,137.88
Jan
914.90
10,017.90 708.10 52,445.00 882.80
Feb
38,298,901.05
-
2,856,866.96 2,676,718.17 5,734,025.51 29,563,851.53
Feb
889.70
-
7,868.70 737.50 51,545.90 904.20
Mar
60,432,584.71
-
3,937,099.72 4,464,712.77 8,691,084.21 37,343,406.06
Mar
941.14
-
7,569.28 728.43 58,151.43 921.38
*Apr
41,317.54
-
2,063.05 2,797.06 4,754.91 15,996.48
*Apr
791.83
-
5,729.47 744.79 30,450.44 938.01
*May
53,741.28
-
3,335.65 3,355.39 7,058.05 22,545.40
*May
1,046.65
-
7,950.08 899.38 42,290.80 1,690.28
*Jun
51,046.38
-
3,281.73 3,230.95 6,470.44 22,040.12
*Jun
927.30
-
7,224.24 849.61 41,224.15 1,155.79
*Jul
63,526.12
-
3,956.03 3,646.28 7,361.68 27,328.40
*Jul
1,059.13
-
8,228.22 920.88 44,159.41 1,318.93
*Aug
54,975.89
-
3,973.70 3,937.26 7,555.92 25,760.62
*Aug
974.38
-
8,669.34 965.97 47,536.92 1,233.10
*Sep
6,504.55
-
4,685.21 5,331.36 1,194.06 38,798.22
*Sep
1,009.71 - 8,369.30 860.54 49,927.24 1,408.88
Source:Reserve Bank of Zimbabwe, 2024
*Statistics are denominated in ZiG
TABLE 9.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Values of Transactions (ZWG in millions)
TABLE 9.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Volumes of Transactions (in thousands)

End of
Nominal Lending
Rates2
Individuals
Corporate
Savings
3 Months2

Jan
6.00-65.00
32.65
24.77
Jan
0.22-12.00
2.00-21.50
Feb
6.00-85.00
36.67
21.36
Feb
0.22-12.00
2.00-21.50
Mar
6.00-85.00
35.83
22.61
Mar
0.22-12.00
2.00-21.50
Apr
6.00-85.00
35.22
22.59
Apr
0.22-12.00
2.00-21.50
May
6.00-85.00
34.84
21.76
May
0.22-12.00
2.00-21.50
Jun
6.00-85.00
36.25
22.46
Jun
0.25-12.00
2.00-26.00
Jul
6.00-85.00
36.56
21.66
Jul
0.50-12.00
2.00-26.00
Aug
6.00-85.00
41.06
39.65
Aug
0.50-12.00
2.00-26.00
Sep
6.00-85.00
40.61
39.50
Sep
0.50-12.00
2.00-26.00
Oct
6.00-85.00
41.86
45.81
Oct
0.50-12.00
2.00-26.00
Nov
6.00-8500
39.13
38.10
Nov
0.50-12.00
2.00-26.00
Dec
6.00-8500
39.34
37.94
Dec
0.50-12.00
2.00-26.00

Jan
15.00-8500
39.32
39.62
Jan
0.50-12.00
2.00-26.00
Feb
15.00-8500
40.55
64.02
Feb
0.50-12.00
2.00-26.00
Mar
15.00-8500
40.74
43.88
Mar
0.50-12.00
2.00-26.00
Apr
15.00-8500
38.15
45.56
Apr
0.50-12.50
2.00-30.00
May
15.00-8500
38.01
47.25
May
0.50-12.50
2.00-32.00
Jun
15.00-8500
38.45
48.25
Jun
0.50-12.50
2.00-32.00
Jul
80.00-240.00
82.75
165.45
Jul
40.00
80.00-92.00
Aug
80.00-230.00
88.46
155.96
Aug
40.00
80.00-92.00
Sep
100.00-230.00
98.07
158.46
Sep
40.00
80.00-92.00
Oct
100.00-290.00
99.37
115.26
Oct
40.00
80.00-92.00
Nov
100.00-290.00
99.03
110.97
Nov
40.00
80.00-92.00
Dec
100.00-290.00
99.02
110.83
Dec
40.00
80.00-95.00

Jan
100.00-240.00
90.05
116.03
Jan
40.00
80.00-110.00
Feb
65.00-230.00
60.12
80.88
Feb
30.00
50.00-110.00
Mar
65.00-230.00
74.35
81.46
Mar
30.00
50.00-110.00
Apr
70.00-230.00
74.48
86.96
Apr
30.00
50.00-110.00
May
70.00-230.00
77.86
83.61
May
30.00
50.00-110.00
Jun
70.00-155.00
76.33
92.64
Jun
30.00
50.00-110.00
Jul
64.00-155.00
77.82
94.80
Jul
30.00
50.00-110.00
Aug
64.00-155.00
77.63
93.18
Aug
30.00
50.00-110.00
Sep
64.00-160.00
76.49
92.69
Sep
30.00
50.00-110.00
Oct
64.00-160.00
71.72
92.43
Oct
30.00
50.00-110.00
Nov
64.00-160.00
70.15
93.15
Nov
30.00
50.00-110.00
Dec
64.00-155.00
69.02
93.77
Dec
30.00
50.00-110.00

Jan
70.00-230.00
70.18
95.24
Jan
33.75
50.00-110.00
Feb
70.00-230.00
76.05
93.76
Feb
33.75
50.00-110.00
Mar
70.00-230.00
73.43
91.40
Mar
33.75
50.00-110.00
*Apr
20.00-60.00
25.91
24.29
*Apr
5.22
5.00-10.00
*May
10.00-60.00
25.17
24.52
*May
3.75
5.00-10.00
*Jun
10.00-40.00
24.89
24.46
*Jun
3.75
5.00-10.00
*Jul
20.00-40.00
24.69
24.44
*Jul
3.75
5.00-10.00
*Aug
20.00-40.00
24.42
24.15
*Aug
3.75
5.00-10.00
*Sep
20.00-40.00
24.27
23.92
*Sep
3.75
5.00-10.00
Source:Reserve Bank of Zimbabwe, 2024
Notes
*Statistics are denominated in ZiG
3. Lending rates exclude rates on staff loans.
TABLE 10.2 : BANKS DEPOSIT RATES (percent per annum)1
1. The range of rates qouted by banks during the period.
2. Three (3) months deposit rates revised to exclude rates on
inactive or dormant accounts.
TABLE 10.1: LENDING RATES (percent per annum)1
1. Table revised, to separate weighted lending rates for individuals and
corporate bodies.
2. Nominal Lending Rates depict the range of rates quoted by banks.
Weighted Average Lending Rates3
Commercial Banks
Commercial Banks
End of

End of
All Share
Mining
Market Turnover ZWG
million
Volume of Shares
Market Capitalisation

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar


*Apr

*May

*Jun

*Jul

*Aug

*Sep

Source:Zimbabwe Stock Exchange, 2024
*Statistics are denominated in ZiG
**As at 30 September 2020
ZWG
TABLE 11: ZIMBABWE STOCK MARKET STATISTICS
Indices
*All Share index was

FOOD
INFLATION
ALL
ALCOHOLIC
BEVERAGES
CLOTHING
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNICATION
RECREATION &
EDUCATION
RESTAURANTS
&
MISC.
TOTAL
NON
FOOD &
ITEMS
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
FOOD
NON
ALCOHOLIC
BEVERAGES
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

*May

*Jun

*Jul

*Aug

*Sep

Source:Zimstat, 2024
*Statistics are in ZiG
NON-FOOD INFLATION
TABLE 12.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX
( April 2024 = 100)

FOOD
INFLATION
ALL
ALCOHOLIC
BEVERAGES
CLOTHING
HOUSING, WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNICATION
RECREATION &
EDUCATION
RESTAURANT
S &
MISC.
TOTAL NON
FOOD &
ITEMS
& TOBACCO
FOOTWEAR
ELECTRICTY, GAS
AND
CULTURE
HOTELS
GOODS &
FOOD
NON
ALCOHOLIC
BEVERAGES
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

*Jul

*Aug

*Sep

Source: ZIMSTAT, 2024
* Statistics are for ZiG Inflation
TABLE 12.2 : QUARTERLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX
(April 2024 = 100)
NON-FOOD INFLATION

FOOD
INFLATION
ALCO HO LIC
CLO T HING
HO US ING ,
W AT E R,
FURNIT URE
MIS C.
FO O D &
B E VE RAG E S
&
E LE CT RICT Y,
G AS
AND
RE CRE AT IO N &
RE S T AURANT S
&
G O O DS &
T O T AL NO N
NO N
ALCO HO LIC
ALL
& T O B ACCO
FO O T W E AR
& O T HE R
E Q UIP ME NT
CULT URE
HO T E LS
S E RVICE S
FO O D
B E VE RAG E S
IT E MS
FUE LS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

Source: ZIMSTAT, 2024
TABLE 12.3 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
CO MMUNICAT IO N
T RANS P O RT
HE ALT H
E DUCAT IO N
NON-FOOD INFLATION

End of
Sep-23 Oct-23
Nov-23 Dec-23 Jan-24
Feb-24
Mar-24 Apr-24 May-24 Jun-24
Jul-24 Aug-24 Sep-24
Merchandise Imports (excl. energy)
462.1

411.0

367.3

344.4

397.2

378.8

346.3

353.8

447.0

373.4

492.8

408.6

461.0

- Consumption Goods
138.9

121.0

101.0

90.7

119.1

104.6

100.6

144.2

163.2

143.2

154.3

118.1

166.3

- Capital Goods
169.3

153.3

146.0

145.0

148.8

140.0

135.2

126.5

165.2

123.4

174.3

139.7

144.1

- Intermediate Goods
153.9

136.7

120.3

108.7

129.4

134.3

110.4

83.1

118.6

106.8

154.3

118.1

166.3

Energy (Fuel & Electricity)
141.5

188.8

161.4

160.0

142.5

133.9

131.4

142.0

155.1

127.1

159.2

149.1

143.7

Service Payments
85.7

84.2

70.0

90.1

72.3

88.4

77.5

71.7

81.1

79.6

845.1

102.1

915.1

- Technical, Professional & consult
42.7

39.9

30.4

51.0

32.8

40.0

34.1

26.9

32.9

25.2

378.2

512.8

379.9

- Software
13.6

11.5

12.2

8.8

98.0

11.3

12.9

8.9

13.0

12.7

145.6

134.5

110.8

- Other (tourism, edu, freight etc)
29.5

32.7

27.4

30.3

29.7

37.0

30.5

35.9

35.2

41.7

321.3

373.4

424.5

Income Payments (Profits, Dividends)
22.9

26.5

30.9

23.9

22.4

21.1

30.6

28.3

13.1

23.7

38.1

858.6

417.1

Capital Remittances (outward)
58.0

106.1

112.6

50.2

77.5

76.5

55.4

49.0

83.3

48.8

111.1

735.7

763.5

- External Loan Repayments
51.2

97.0

97.7

39.4

61.5

66.4

40.3

31.6

59.0

41.8

95.1

60.3

64.0

- Disinvestments
2.1

2.3

7.4

7.7

67.7

45.4

75.8

6.4

17.2

2.6

80.4

10.8

38.5

- Cross Border Investment
4.7

6.8

7.6

3.1

92.9

54.8

74.9

11.0

7.1

4.4

79.6

24.9

84.8

Other Payments
18.7

27.2

28.1

16.9

17.7

22.7

23.6

7.9

31.0

22.3

28.9

20.3

21.7

TOTAL
788.8

843.8

770.2

685.4

729.7

721.4

664.8

652.8

810.7

675.0

914.7

839.5

836.0

Table 13.1: Monthly Cross Border Payments (US$ Millions)

Agriculture
Horticulture
Manufacturing
Mining
Tobacco
Tourism
Transport &
Other Services
Total
End of
Telecom

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source:Reserve Bank of Zimbabwe, 2024
Table 13.2: Monthly Cross Border Receipts (US$Millions)