IT IS crucial that Zimbabwe builds up its gold and foreign exchange reserves markedly before the country ditches the US dollar, economists say.Speaking to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — the economists stressed this week that doing so would engender more confidence in…
TRADING on the Zimbabwe Stock Exchange (ZSE) remains concentrated among a few blue-chip counters, exposing the market to structural risks as investors tread cautiously amid market uncertainties.This comes as the country’s primary bourse faces an unpredictable outlook marked by the recent spate of de-listings, the inability to attract new listings, and erosion of stocks’ price…
BY GODFREY NYONI IN today’s hyperconnected world, information travels faster than light. A single WhatsApp message can reach thousands of Zimbabweans in just a few minutes, crossing towns, provinces, and even borders before anyone stops to check if it’s true. But speed has a dark side and not everything that spreads is accurate or honest.Zimbabwe,…
THE People’s Own Savings Bank (POSB) has set aside US$8,7 million over the next three years to support schools, educators, SMEs and households, in installing solar energy systems and Starlink internet services.The bank is targeting to power at least 400 schools, 2,700 households, and 400 small and medium enterprises across the country by 2027.The facility…
WESTPROP Holdings (WestProp) is aiming at growing its portfolio of higher-margin developments to enhance profitability in the medium to long term, amid mounting operational costs.The Victoria Falls Stock Exchange-listed property firm has several luxury developments at various stages of completion, which include The Mall of Zimbabwe and the Radisson Millennium Heights Aparthotel.“High demand has been…
NATIONAL Foods (NatFoods) recorded an aggregate volume growth of 18 percent during the year ended June 30, 2025, thanks to improved availability of key raw materials.A subsidiary of Innscor Africa, NatFoods relies on locally-sourced agricultural raw materials like maize, wheat, and soybeans which it processes into flour, maize meal, pasta, biscuits, and cereals, as well…
ZIMBABWE is expected to conclude the 2024 fiscal year with an overall trade surplus of approximately US$100 million, underscoring a positive outlook for the country’s balance of trade, latest projections show.According to the Reserve Bank of Zimbabwe (RBZ), this follows a US$7 million trade surplus in August 2025, after a prolonged period marked by persistent…
THE Comesa Competition Commission has endorsed a move by the Zimbabwe Revenue Authority (Zimra) to ensure foreign e-commerce platforms comply with the country’s tax laws.Zimbabwe has witnessed a surge in digital services, particularly in the transport, accommodation, and retail sectors, many of which are operated by companies headquartered outside the country.This comes as Zimra is…
THE Cabinet has approved the Inter-Governmental Memorandum of Understanding (MoU) on Cooperation on the development of the Inga 3 Transmission Lines Project, positioning the country as a crucial transit corridor for one of Africa’s ambitious energy initiatives.The approval integrates Zimbabwe into a multi-national scheme designed to harness the immense hydropower potential of the Congo River…
OLD Mutual (OM) says it is ready for a currency switch in 2030 when Zimbabwe transitions to a ZiG-anchored mono-currency system, despite market anxiety surrounding the reform.The government has outlined plans to eventually phase out the US$ from transacting locally, despite businesses currently registering over 80 percent of earnings in the greenback.“We believe that we…
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