ANY moves by the governmentvto abandon fiscal prudence and appease its employees and voters ahead of this year’s national elections will spell doom for the Zimbabwe dollar and the economy. So warns business after it was claimed last week that the government was mulling awarding hefty salary increases of upvto 400 percent to some of…
REGIONAL cement manufacturer, PPC, says its Zimbabwean unit has engaged authorities on mitigating the impact of insufficient power supply on critical industrial sectors. The company is one of the major producers of cement products in Zimbabwe with operations in Gwanda, Bulawayo and Harare. The country has been experiencing erratic power supplies since last year, with…
FINANCIAL services group, Old Mutual, says it expects macroeconomic conditions in its markets in the southern African region to remain challenging in the foreseeable future. In the region the group has operations in South Africa, Botswana, Zimbabwe, Malawi, Namibia and Swaziland. In its short-term announcement for the reviewed annual results and dividend declaration for the…
CBZ Holdings (CBZ) says it is working on the possibility of extending credit through its money transfer platform to promote financial inclusion. Players in the financial sector have for the past decade pushed for the country’s unbanked population to participate in the formal economy by encouraging innovation in the financial technology sector. Speaking to The…
AMALGAMATED Regional Trading (Art) says its sales mix is now evenly split between US dollars and Zimbabwe dollars, but expects it to be more skewed towards the greenback going into the future. The economy has been witnessing an increased use of US dollars for both formal and informal transactions, with experts saying the country is…
CALEDONIA says it has filed a new NI 43-101 technical report on SEDAR in support of Blanket Mine’s mineral resources and reserves estimates announced last month. The company, the biggest gold mining outfit in Zimbabwe, recently said that at least 1,1 million ounces of gold could be contained in claims at the Gwanda-based unit, Blanket…
THE Zimbabwe Builders Contractors Association (ZBCA) says women’s participation in the country’s construction sector has grown significantly following some interventions by various groups to improve gender equity within the male-dominated industry. ZBCA president, Petros Kagwere, recently told The Financial Gazette that the organisation has established a women’s desk that looks after women’s welfare within the…
ENERGY ministry permanent secretary, Gloria Magombo, says Zimbabwe’s electricity access rate has risen to 62 percent, from 53 percent in 2020.
THE Zimbabwe Energy Regulatory Authority (Zera) says the country’s liquified petroleum gas (LPG) consumption increased by 500 percent to 60 million kilograms between 2012 and 2022. This comes as the country has experienced severe power shortages in recent years, as a result of the loss of generation capacity at the flagship Kariba hydropower plant. Zimbabwe…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More