EXPERTS have commended the government’s exchange control reforms of last week, which give under pressure companies greater flexibility in pricing their goods and services.Speaking to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — the experts said this week that the repeal of exchange rate controls…
THE bearish sentiment on the Zimbabwe Stock Exchange (ZSE) is expected to continue throughout the course of 2025, driven by global geo-political influences on local companies’ performance, financial markets analysts FBC Securities has warned.The ongoing trade tiff between the US and major global trading partners, mainly China, is already impacting global economic activity and is…
FIDELITY Life Assurance (Fidelity) has reported a profit of US$6,4 million for the year ended December 31, 2024, up 178 percent from prior year levels of US$2,3 million largely driven by investment income and insurance contracts revenue.Net investment income grew 54 percent to US$9,1 million in 2024 from US$5,9 million recorded prior year, driving overall…
TRENTYRE, a tyre-service subsidiary of Victoria Falls Stock Exchange (VFEX)-listed engineering group Zimplow says the growing competition from cross-border informal traders has adversely affected its business operations.TrenTyre product range includes brand new tyres, tubes and tyre accessories as well as retreading and repair services.In its financial results for the year ended December 31, 2024, the…
THE IMF says the escalation of trade tensions and policy uncertainty are expected to have a significant impact on global economic activity this year.In its world economic outlook report for April released this week Tuesday, the Bretton Woods Institution projected a decline in global economic growth by 0,5 percentage points to 2,8 percent.The Washington D.C-based…
THE Confederation of Zimbabwe Industries (CZI) says the government and relevant stakeholders need to unite in implementing measures to improve the performance of the manufacturing sector. CZI chief executive officer Sekai Kuvarika made the call during the Zimbabwe International Trade Fair (ZITF) business conference yesterday. According to the 2024 manufacturing sector survey results, the sector’s…
ZIMRE Holdings Limited (ZHL) is strategically rebalancing its portfolio to capture emerging growth opportunities, banking on recently acquired assets in the insurance business.Group chief executive Stanley Kudenga told The Financial Gazette recently that the new acquisitions, while currently in transition, are being primed to become key value drivers for the group amid concerns of underperformance…
African Century’s total assets increased by 115 percent to ZiG616 million as at December 31, 2024 from ZiG287 million the previous year, mainly driven by growth in the loan book.The micro-lender has been steadily building its capital base to increase resilience in a tight liquidity market.“This growth was primarily driven by a 243 percent growth…
By Jackson T Mashinge IN a landscape where digital transactions proliferate and cyber threats loom large, the financial sector in Zimbabwe is undergoing a seismic shift. Enter Artificial Intelligence (AI), the cutting-edge technology that is redefining the paradigm of fraud detection. No longer merely a buzzword, AI has emerged as a formidable ally in the…
By Mahomed Jassat ZIMBABWE’S story is not just one of struggle. It is a story of resilience. It is a tale of a people who, despite decades of economic sanctions, political pressure, and persistent misinformation, have refused to surrender their dignity or destiny. Today, as the nation steadily reclaims its economic footing and asserts its…
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