GIVEN the extent of the challenges being experienced in the country, more needs to be done to revitalise Zimbabwe’s foreign exchange system, business says. At the same time, eyebrows were raised last week after Treasury made definitive pronouncements on the exchange rate and the country’s foreign currency auction system, instead of monetary authorities. This comes…
Minister of Finance, Mthuli Ncube, has invited the financial sector to discuss incentives for private equity funds, which he believes can deepen the country’s capital markets and push industrialisation. This comes as Ncube is also pleading with international development finance institutions to extend more lines of credit to local banks, as he seeks to open…
AN EXPECTED interest rate adjustment on short-term tenors in Zimbabwe is unlikely to have the desired effect of curbing speculative borrowing because of the country’s high inflation, an analyst has said. As part of a slew of measures meant to stabilise the Zimbabwe dollar, minister of Finance, Mthuli Ncube, last week announced that interest rates…
DELTA Corporation (Delta) does not expect to join a number of companies that are migrating from the Zimbabwe Stock Exchange (ZSE) to the foreign currency-denominated Victoria Falls Stock Exchange (VFEX), saying the new bourse does not suit its needs. The chief executive of the ZSE’s largest company by market capitalisation, Matlhogonolo Valela, told a media…
THERE has been a low default rate on repayment of loans under Zimbabwe’s Belarus-sponsored farm mechanisation programme, a government official has said. The programme has so far seen the deployment of equipment worth more US$60 million. The director of agricultural engineering, mechanisation and soil conservation in the ministry of Agriculture, Edwin Zimunga, recently told The…
BUSINESS leaders and economic experts say Zimbabwe’s economic woes could worsen as the South African rand weakens, reducing local industry’s competitiveness and draining foreign exchange from the economy, while widening the country’s trade deficit with its neighbour and major trading partner. The rand last week tumbled to a record low against the dollar — past…
ZIMBABWE’S gross domestic product (GDP) growth rates were inconsistent over the period 2019-2022, the latest data from ZimStat shows. In its recent dissemination of the quarterly GDP estimates for the period, the country’s national statistics office noted that quarterly growth rates showed fluctuations in economic activity. “In 2022, the first quarter recorded a slowdown of…
FINANCIAL services firm IH Securities says it expects to see a continuous correlation between money supply and stock prices on the Zimbabwe Stock Exchange (ZSE). Over the years, the market has been sensitive to inflation developments in the broader economy, as demand for value-preserving assets has persistently risen. “We are of the view we will…
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