THE government has formalised a new regulatory framework designed to attract private capital into national infrastructure after the Cabinet approved the Zimbabwe Public Private Partnership (PPP) Guidelines this week. The mandatory guidelines are designed to standardise how the state and private investors collaborate on large-scale projects. Minister of Finance Mthuli Ncube said the government, working…
THE Committee of SADC Stock Exchanges (CoSSE) is set to establish the SADC Capital Markets Association (SACMA), a new regional body aimed at strengthening capital markets integration and development across the region. CoSSE represents 14 registered stock exchanges across the SADC region. SACMA will serve as a broad and inclusive platform bringing together securities exchanges,…
THE Tobacco Industry and Marketing Board (TIMB) says the adoption of biometric systems at all auction floors has significantly reduced side marketing in the tobacco sector. Side marketing occurs when contracted farmers sell their crop to unauthorised buyers instead of the contractors who financed their production. For years, the practice has cost the industry millions…
VISITING horticulture buyers from different firms in the United Kingdom have lauded Zimbabwean produce, stating that it is organic, not exposed to much herbicides and pesticides, hence its high demand in the European market. The buyers were hosted at the British ambassador Peter Vowels’ residence in the capital on Monday night, with the diplomat telling…
EXPERTS have warned that the worsening Israel-Iran war will further sap Zimbabwe’s ailing economy, amid global oil price hikes. Speaking to The Financial Gazette this week, the experts said that the surge in oil and shipping insurance premiums would definitely have a feed-through effect on Zimbabwe, casting a fresh shadow on the economy. The Middle East…
TOBACCO Sales Floor (TSF) has upgraded its internal farmer payment system, enabling it to credit farmers’ accounts in under an hour after settling sales across all banking networks. TSF, a subsidiary of the Zimbabwe Stock Exchange-listed TSL, has been using TSL Pay for the past four years, paying farmers soon after they completed their sales…
SOUTH Africa’s payments systems firm PayInc has partnered with local blockchain-based fintech Kuva in a move set to strengthen Zimbabwe’s banking and financial services infrastructure. The two parties have since concluded a technical operator agreement following a visit to Harare by PayInc’s senior representatives. The agreement, which spans all 16 SADC countries, appoints Kuva as…
ZIMBABWE’s auction tobacco marketing season opened yesterday with prices reaching US$4,60 per kilogramme, a 1,08 percent decrease compared to last year’s opening price of US$4,65 per kilogramme. The upbeat start has raised optimism among growers and stakeholders, coming at a time when the sector remains one of the country’s leading foreign currency earners. The Tobacco…
PFUMA Fund Real Estate Investment Trust (Pfuma)’s net asset value (NAV) will rise from approximately US$46,73 million to US$53,93 million this year, driven by pipeline development completions, a new report shows. Pfuma was listed in February this year, becoming the second REIT on the Victoria Falls Stock Exchange (VFEX) after Eagle REIT, which was incorporated…
NATIONAL Handling Services Zimbabwe (NHS) expects to rake in US$900 000 in revenue from its airport lounge operations this year as business diversification continues to bear fruit. The company’s airport lounge operations encountered a major setback last year after a major airline that used its services pulled out. Nevertheless, NHS, which has recently witnessed a…
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