THE country’s ongoing power outages have severely hampered the growth of the information and communication technology (ICT) sector, driving up costs as consumers look for alternate energy sources, a senior government official has said. Speaking at the CEO Africa Roundtable breakfast meeting recently, ICT deputy minister, Dingumuzi Phuthi said as a result players in the…
ECONENT Wireless Zimbabwe this week confirmed Eddie Chibi was still the Chief Executive Officer (CEO) of its financial technology (fintech) businesses, following the successful demerger of these units from EcoCash…
THE Confederation of Zimbabwe Industries (CZI) has said that the lack of incentives for cotton production is a significant barrier to the industry’s growth.In an interview with The Financial Gazette, CZI’s chief economist, Cornelius Dube, stated that increasing cotton output will provide greater opportunities for value addition.“The current challenge is that there are no incentives…
HARARE is set to witness a revolutionary fusion of art and journalism with the launch of ‘Nhoroondo Dzematambidzanwa’ (Shared Histories) — a virtual photography exhibition celebrating Zimbabwean photojournalism.Spearheaded by Shepherds Foundation, this showcase aims to highlight the evolution of visual storytelling, acknowledging both past and present photographers who have documented the nation’s triumphs and struggles.The…
THE newly-introduced 70 percent foreign currency retention policy has sparked frustration among exporters, who warn it will erode earnings at a time when supply chain services and products are priced in foreign currency.Designed to boost the country’s foreign currency reserves, the regulation has inadvertently created challenges for exporters who depend on immediate access to foreign…
Zimbabwe Stock Exchange (ZSE) listed sugar processor Hippo Valley Estates (Hippo) is feeling the pinch from the escalating operating costs that are significantly squeezing profit margins further compromising its financial performance.The group, just like its peers in the agro-manufacturing industry is grappling with inflationary pressures and currency mix dilemmas, amid calls by industry captains for…
ECOCASH Holdings Zimbabwe is set to change its name as it refocuses solely on banking through Steward Bank.The rebrand follows Econet’s consolidation of its fintech businesses, including EcoCash, VAYA Technologies, and Econet Life, which were transferred under its direct control in April 2024. TN now holds a 53,3 percent stake in the bank holding company,…
NAMPAK Zimbabwe (Nampak) says overall volumes withdrew 23 percent during the first quarter to December 31, 2024 following supply disruptions from social unrests in Mozambique as well as waning demand due to increased competition.The skirmishes in Mozambique following contested Presidential election results in October last year resulted in significant disruption to trading activity at its…
THE Reserve Bank of Zimbabwe (RBZ) says the collateral registry system recorded 2 481 active registrations with a total principal value of ZiG42,19 billion as of December 31, 2024.The central bank said microfinance institutions emerged as the dominant users of the registry, accounting for 1 185 registrations, followed closely by banks with 1 135 entries.“In…
FOSSIL Mines, a major shareholder in Khayah Cement, has been pushed out of the cement manufacturing industry following a creditors’ meeting in Harare this today, with the company set to…
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