ECONET Wireless Zimbabwe (Econet) posted an inflation-adjusted profit of ZiG2,35 billion for the year ended February 28, 2025 shrugging off a ZiG1,34 billion loss previous year on robust revenue from data and internet services. Data and Internet services income grew to ZiG9,3 billion from ZiG6,3 billion previous year and now contributes 42 percent of group…
THE Sadc is set to make significant strides in unlocking financing for infrastructure projects, following meetings of regional Finance ministers in Victoria Falls this week. The long-awaited Sadc Regional Development Fund is expected to be a key focus area, with the aim of spurring economic growth and integration across member states. According to the Sadc…
A HIGH-LEVEL third summit on microfinance technology is set to be held in Harare next week where key stakeholders will brainstorm on various issues, including improving customer service and growing cybersecurity threats. It would be a premier gathering of top microfinance professionals, financial innovators, technology leaders, and policymakers from across Africa and beyond under the…
IN A move to enhance financial convenience and expand international payments capabilities for Zimbabweans, CABS has expanded its outward foreign payment services. The bank now supports payments in 11 international currencies following the addition of five new currencies to its basket. The newly added currencies: Australian Dollar (AUD), Canadian Dollar (CAD), Japanese Yen (JPY), Swiss…
HWANGE Colliery Company Limited (HCCL) says it is on a revival path after injecting US$8 million to improve its coke oven battery operations. A coke oven battery is a vital industrial plant that transforms coal into coke, a key fuel used in blast furnaces for steel production and other metallurgical processes. The battery consists of…
ZIMBABWE’S tourism industry is experiencing a remarkable resurgence, recovering by 80 to 85 percent since the Covid-19 pandemic, according to industry leaders.The industry reports a significant surge in both domestic and international visitor numbers, signalling a strong return to pre-pandemic activity levels and highlighting evolving travel preferences and experiences.Head of sales and marketing at Victoria…
THERE is strong interest from local companies, mainly banks, to occupy the seven-storey Afreximbank Africa Trade Centre (AATC) Harare’s offices, its letting agent, Integrated Properties has said.The US$80 million facility will position Zimbabwe as a major African trade hub and financial services centre.The project site, bordered by Herbert Chitepo Avenue, Livingstone Avenue, Seventh Street, and…
THE sustained local currency stability on the official and parallel money markets for the greater part of this year has ‘calmed’ the previously frenzied speculative trading on the Zimbabwe Stock Exchange (ZSE) as investors place renewed focus on market fundamentals.Since the government embarked on currency reforms in 2018, activity on the ZSE has widely been…
THE Construction Industry Federation of Zimbabwe (CIFOZ) has partnered with the Export Credit Guarantee Corporation (ECGC) to boost financial security and accessibility for industry players seeking bonds and insurance cover for their projects.The construction industry has faced significant financial difficulties, largely due to outstanding government payments to infrastructure contractors, which they say, combined with limited…
DESPITE Zimbabwe making strides in re-engaging international creditors and implementing some needed reforms, experts say resolving its US$21 billion debt will not be easy.Speaking to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — the experts added this week that Harare would likely demand more political…
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