AUTHORITIES want to establish a Victoria Falls International Financial Services Centre to attract international companies to invest in various sectors of the economy. According to the latest Government Gazette, the centre would be headed by President Emmerson Mnangagwa together with Finance and Justice ministers, Mthuli Ncube and Ziyambi Ziyambi. “There is hereby established pursuant to…
OLD Mutual Zimbabwe (Old Mutual) will focus on boosting uptake of pension and long-term savings products as it seeks to strengthen its capital base, a top company executive has said. By encouraging individuals to prioritise their financial futures, the company seeks to enhance its own financial stability and play a pivotal role in fostering national…
ZIMBABWE’S mining sector remains the primary driver of investment approvals, accounting for the bulk of the US$542,92 million in licences processed by the Zimbabwe Investment Development Agency (ZIDA) in the fourth quarter of 2024. Speaking at the Swedish-Zimbabwean Sustainability in Mining Expo, ZIDA’s chief executive, Tafadzwa Chinamo, confirmed that mining continues to outpace other sectors,…
ZIMBABWE’S diamond production rose by 16 percent in the fourth quarter of 2024, reaching 1,42 million carats compared to 1,22 million carats in the same period last year, according to latest figures.The quarterly output also marked a 26 percent increase from the 1,12 million carats recorded in the third quarter of 2024.The Reserve Bank of…
ZIMBABWE’S lithium production remained subdued in the fourth quarter of 2024, reaching 338 038 tonnes, as prices continued to decline, the Reserve Bank of Zimbabwe (RBZ) has reported.During the quarter, lithium prices fell by 15,1 percent, dropping from an average of US$11 064,56 per ounce in the previous quarter to US$9 393,30 per ounce. The…
THE Institute of Architecture Zimbabwe (IAZ) is set to host a major conference on the development of climate-resilient architecture and infrastructure. The event, scheduled for next week, aims to raise…
SOARING crime, including rampant corruption and brazen armed robberies, is costing business and the national economy hundreds of millions of American dollars a year, experts warn.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 in addition to the…
AXIA Corporation (Axia) is planning a robust e-commerce sales strategy to grow market share by enhancing accessibility of its products to customers amid stiff competition from the informal sector.The Victoria Falls Stock Exchange (VFEX)-listed manufacturer and retailer of home furniture and appliances, heavily relies on formal retail channels to sell its products, which until recently…
A COMMON question among banking customers is why they do not earn interest on their accounts. The answer is not as straightforward as it may seem, as several factors influence the interest rates on deposits. This article aims to educate the public on the types of accounts and deposit tenures that can earn interest, which…
RAINBOW Tourism Group (RTG) bolstered its balance sheet during the year ended December 31, 2024 after its right-of-use assets increased more than 400 percent to US$968 765 from US$185 984 in 2023.Coupled with recently acquired equipment and developments on properties, the group’s total assets gained 19,6 percent to settle at US$64,515 million from US$53,954 million…
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