October 24, 2024 - The Financial Gazette

Minerals commodity exchange launch imminent

Mishma Chakanyuka, Staff WriterOctober 24, 20240775 views

https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-309832.mp3?cb=1735913180.mp3THE Treasury has announced that the rules governing the operation of the Minerals Commodity Exchange have been finalised, and trading is expected to begin shortly. The exchange, which will be managed by the Victoria Falls Stock Exchange (VFEX), is set to be established in a special economic zone and will conduct its operations using the…

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Safety net plan for informal workers

Almot Maqolo, Staff WriterOctober 24, 20240809 views

THE National Social Security Authority (Nssa) is set to extend social security coverage to informal workers, with plans to launch a pilot scheme in 2025 before expanding it nationwide. This move aims to address a long-standing challenge faced by developing countries — how to provide social security for informal sector workers. The country’s informal sector…

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DGA struggles weigh on Axia’s FY25 prospects

Zebb ChakawaOctober 24, 20240763 views

Kudzanai Gerede Companies and Markets Editor AXIA Corporation’s logistics business, Distribution Group Africa (DGA) is expected to put a strain on the group revenue for the current financial year ending June 30, 2025 (FY25) on account of widespread informalisation of the sector in Zimbabwe and foreign currency shortages in regional markets. The business has operations…

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Tigere flags rising real estate costs

Zebb ChakawaOctober 24, 20240912 views

TIGERE Property Fund (Tigere) says the demand for value-preserving assets combined with exchange rate volatility has triggered an upward shift in pricing across the real estate value chain. Tigere is a real estate investment trust (REIT) owned by the asset management firm Terrace Africa. It became the country’s first ever publicly listed REIT on the…

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Women entrepreneurs urged to go global

Mishma Chakanyuka, Staff WriterOctober 24, 20240982 views

THE Comesa Federation of Women in Business (COMFWB) has urged female entrepreneurs to expand their market reach beyond local borders and explore export opportunities. COMFWB chairperson Edna Mukurazhizha encouraged women during the Regional Enterprise Competitiveness and Access to Markets Programme (Recamp) training, to consider regional and international markets. “The encouragement is for women to be…

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Gold reaches record high as geopolitics drive traders to safety

Zebb ChakawaOctober 24, 202401.1K views

Gold hit a record high, as it receives sustained haven demand with investors monitoring the approaching US election and conflict in the Middle East. Bullion edged up to $2 750.34 on Wednesday, beating Tuesday’s peak by about $1, with geopolitical risks taking center stage as traders focused on a tight US presidential race and concerns…

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SAA is debt-free

Zebb ChakawaOctober 24, 20240961 views

South African Airways (SAA) is currently debt-free and is not looking for additional funding from National Treasury. However, Parliament’s Standing Committee on Public Accounts (Scopa) heard on Tuesday the national carrier requires a capital injection to get back to its “former glory”. The capital is also needed to bring forward some of the plans it…

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Schweppes to reduce carbon emissions by 25 pct

Almot Maqolo, Staff WriterOctober 24, 20240628 views

SCHWEPPES Zimbabwe says it is working on reducing its waste and carbon footprint by 25 percent as part of efforts to mitigate its negative environmental impact during operations. As global concerns about climate change, social inequality, and corporate misconduct grow, investors and consumers are increasingly demanding transparency and accountability from businesses. Local companies have been…

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Arrears push CMED to the brink

Mishma Chakanyuka, Staff WriterOctober 24, 20240806 views

THE CMED says it is grappling with a financial crisis due to delayed payments from government ministries and departments. Speaking to The Financial Gazette, CMED managing director Davison Mhaka highlighted the urgent need for the government to settle its arrears to ensure smooth operations. “The major hurdle that we face is that we provide services…

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