THE African Development Bank (AfDB) says it has mobilised over US$40 million to catalyse growth in Zimbabwe’s private sector through lines of credit and trade finance facilities.The lender said the funding has been instrumental in unlocking growth opportunities for small and medium-sized enterprises (SMEs).The AfDB said its commitments to Zimbabwe have now reached US$177 million,…
OVER 40 emerging entrepreneurs have successfully completed a transformative three-month programme hosted by Stanbic Bank Zimbabwe, equipping them with practical skills to grow and run their businesses efficiently.The Level Up Business Clinic, launched in March and concluded in May, was spearheaded by Stanbic Bank’s Enterprise Banking Unit, which supports the growth and sustainability of SMEs…
NICOZDIAMOND Insurance marked its 60th anniversary with a diamond jubilee event at Siyekhaya Estate in Borrowdale, Harare, underscoring its evolution from a local insurer to a regional force in the financial services sector.Founded in 1965 — coinciding with Zimbabwe’s Unilateral Declaration of Independence, NicozDiamond has survived political, economic, and technological shifts to become one of…
MASAWARA PLC has urged the government to establish a more sustainable environment that supports businesses’ longevity and growth.This comes as several business leaders in the country have also stressed the need for an in-depth review of regulations to streamline processes and lower the cost of doing business, thereby enhancing competitiveness.In an interview with The Financial…
By Godfrey Nyoni OVER the past few years, Zimbabwe’s education system has changed. From COVID-19 lockdowns to online classes on WhatsApp, Facebook, and Zoom, we saw how technology became a new classroom.Now, something even bigger is coming Artificial Intelligence, also known as AI. AI is not just for movies or Silicon Valley. It is slowly…
THE Zimbabwe Investment and Development Agency (ZIDA) has introduced a formal investor grievance mechanism aimed at boosting confidence and retaining foreign capital, as the country continues efforts to improve its business climate. The Investor Grievance Response Mechanism (IGRM) is designed to handle disputes arising from government regulatory decisions or policy shifts that affect investment projects.…
EXPERTS are fretting over the country’s economic outlook and the Reserve Bank of Zimbabwe’s (RBZ) recent inflation projections.Many economists and analysts who spoke to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — said this week that current inflationary pressures would likely remain an issue in…
I HAVE worked with many organisations over the years to help them evaluate jobs and build pay structures. Done well, this work creates fairness, motivates employees, and allows companies to compete for talent. But despite its importance, I have seen far too many of these projects go wrong. The sad part is that most of…
TANGANDA Tea Company (Tanganda) recorded a significant decline in sales volumes during the six months to March 31, 2024 as the government’s route-to-market policies inadvertently disrupted product uptake.Last year, authorities introduced new route-to-market measures in an attempt to rescue formal businesses from unfair competition by informal traders.Under the new regulations, only value added tax (VAT)-compliant…
THE African Export-Import Bank (Afreximbank) says the decision by credit rating agency Fitch to downgrade and give it a negative outlook was based on a wrong interpretation of its founding treaty signed by its member states.The Cairo-based multinational trade financier argues that Fitch’s definition of non-performing loans (NPLs) differs from its approach.Fitch, in its latest…
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