RETAIL giant OK Zimbabwe Limited (OK Zimbabwe) managed to save up to US$40 000 in overall monthly distribution costs during the fiscal year ended March 31, 2024 following a major investment into its delivery fleet. The investment is part of the group’s long-term strategy to assume control of its stock delivery value-chain and minimise hiring…
FIRST Capital Bank (First Capital) loans to customers grew 11,2 percent in the six months ended June 3, 2024 to ZWG1,3 billion (US$94,7 million) from ZWG1,2 billion (US$86,1 million) recorded on December 31, 2023 as the financial institution capitalised on credit demand in the economy. Early this year, First Capital Bank secured an additional US$20…
ZB FINANCIAL Holdings (ZB) reported total assets of ZWG9,143 billion for the half year period to June 30, 2024 which was a marginal four percent increase from prior year’s ZWG8,772 billion as the group withstood macro-economic headwinds. Using official data from Reserve Bank of Zimbabwe’s mid-term monetary policy statement, which reported total banking sector assets…
THE Infrastructure and Development Bank of Zimbabwe (IDBZ) says it is exploring alternative funding sources to boost capital and enhance mandate delivery. In the first half of 2024, the Government of Zimbabwe injected ZWL6 billion (approximately ZWG2,4 million) into IDBZ as capital support. IDBZ’s chief executive, Zondo Sakala, noted that although the institution received a…
ZIMBABWE saw a 30 percent growth in foreign currency reserves, including gold, to US$375 million as of June 30, 2024, from US$285 million as of April 5, 2024, the central bank has revealed. This increase follows the Reserve Bank of Zimbabwe’s introduction of a new currency in April, the Zimbabwe Gold (ZiG), which at the…
THE Tourism Business Council of Zimbabwe (TBCZ) says the arrival of low-cost internet service providers would help reduce operating costs in the tourism sector, as high data costs remain a major challenge. Addressing a media briefing, TBCZ president Clive Chinwada said, “So as a sector, our plea has always been around the cost of doing…
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