BUSINESS is behind the government’s quest to encourage the wider use of the Zimbabwe dollar in the country, and wants authorities to put in place all the necessary measures which will make this possible. Speaking to The Financial Gazette this week, captains of commerce and industry said a critical move towards achieving this key goal…
NATIONAL Building Society (NBS) says unprecedented steps taken to respond to challenges in the operating environment had a positive impact on profitability and growth. In a statement accompanying the building society’s financial statements for the year ended December 31, 2022, NBS chairman Shingai Mutumbwa noted the impact of events in the macro environment on operations.…
TRADE development and promotion body ZimTrade has expressed confidence that the horticulture sector can get back to the 1999 export record level of US$143 million driven by the emergence of new products. ZimTrade operations director Similo Nkala said horticulture had been identified as a key sector in the drive to grow exports under the national…
CBZ Bank says it is investing a total of US$60 million into agriculture this year. The bank’s managing director Lawrence Nyazema said with CBZ as one of the country’s largest financial institutions, it was important for it to provide funds for one of the critical economic sectors. “If we don’t support agriculture when we have…
EMPOWER Bank says it will increase its foreign currency income generation going forward, despite recording the first six months of 2023 as the most difficult operating period in its five-year operating history. The state-owned lender was launched in July 2018 with the primary mandate of funding marginalised youths who fail to get capital from commercial…
THE Zimbabwe Investment and Development Agency (Zida) says it witnessed an improvement in investment this year, as compared to last year, despite 2023 being an election year. In an interview with The Financial Gazette, Zida’s acting chief executive, Theresa Muchinguri said the agency has registered almost 800 foreign investors with an estimated total investment value…
Bindura Nickel Corporation (BNC) says it will be embarking on a solar power plant project as it seeks to transition to clean energy sources to reduce its carbon footprint. The nickel miner consumed 1,04 million litres of diesel in the year ended March 31, 2023, down 12,08 percent from 1,18 million litres in the comparable…
KUVIMBA Mining House (Kuvimba, a state-owned company, says it is not acquiring a new asset this year, but is considering listing some of its existing units on the Victoria Falls Stock Exchange (VFEX). Established in 2020, Kuvimba is 65 percent owned by the government, with the balance held by management through a Mauritius-based company, Quorus.…
STARAFRICA Corporation (Starafrica) says it is looking forward to the government reinstating duty on imported sugar, a development that will positively impact the local sugar industry. The listed sugar refiner’s chairman, Rungamo Mbire, said sales volumes of granulated sugar produced by the group’s Goldstar Sugars (GSS) were stagnant, amounting to 82,321 tonnes during the…
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