THE National Building Society (NBS)’s total assets grew 25 percent to reach ZiG3,9 billion during the year ended December 31, 2024 from ZiG3,1 billion a year earlier thanks to growth in the loan book.NBS ― a financial subsidiary of the National Social Security Authority (NSSA) ― saw its loans to customers grow 27 percent to…
ZIMBABWE’S Finance ministry has started issuing American dollar-denominated bonds to ex-commercial farmers, as part of its Global Compensation Deed (GCD), broader debt reduction and arrears programme.This comes as the country has been creaking under a US$21 billion debt and the Harare administration has been engaged in talks with various creditors, which has resulted in short-term…
By Ephias Ruhode MY interest in researching the technology sector in Africa is driven by my passion to spotlight the continent’s rising capacity, innovation, and digital leadership. Governments and private sectors across the global south are boldly investing in digital infrastructure, artificial intelligence, and education, shifting the region from passive consumers to active creators and…
The persistent liquidity constraints in the domestic market could hinder credit expansion and jeopardise broader economic growth, one of the country’s largest mortgage lenders, CABS has warned.The authorities’ stance to tighten ZiG supply in the economy in an attempt to contain inflation and exchange rate fluctuations has resulted in the market shifting towards US-dollars, inadvertently…
ECOBANK Zimbabwe (Ecobank) says it is focusing on cost optimisation to protect under-pressure margins from headwinds in the economy, characterised by high inflation and currency price distortions.To achieve this, the bank says it will leverage technology to grow its digital banking ecosystem to drive financial inclusion and cut costs.In its financial results for the year…
FBC Holdings (FBC) says it is optimistic about the prospects of its latest acquisition ― FBC Crown Bank (Crown Bank) ― after it posted a ZiG107,4 million profit after tax in its maiden six months to December 31, 2024 as a group subsidiary, bolstering the balance sheet.FBC concluded the US$23,9 million acquisition of Standard Chartered…
HOTELS in Victoria Falls will see a strong Easter holiday season, with average occupancy levels reaching 70 percent ahead of the festive period. This marks a significant jump from 52 percent in 2024, according to the Hospitality Association of Zimbabwe (HAZ). HAZ Mat North chapter chairperson, Patience Musonza told, The Financial Gazette that the 18-percentage-point…
NMB Bank Zimbabwe Limited (NMB) says it is closing in on deals cumulatively worth US$100 million in credit lines offshore, for on-lending to productive sectors of the economy this year.In the 2024 fiscal year, NMB raised over US$65 million in funding from offshore developmental finance institutions (DFIs), reflecting its ability to secure substantial financial resources…
THE local equities market has largely been subdued during the first quarter of the year due to persistent liquidity challenges in the market affecting trading activity and investor sentiment. The country’s primary bourse, the Zimbabwe Stock Exchange (ZSE) All share index- a crucial indicator reflecting average value of the share prices of all listed companies-…
THE Infrastructure and Development Bank of Zimbabwe (IDBZ) is seeking to enhance its capital position by drawing support from shareholders and engaging with external investors to effectively carry out its projects.The state-owned development bank last year received a significant capital boost, including a ZiG6 billion injection from the government and US$10 million in Treasury Bills.…
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