https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-310327.mp3?cb=1733932125.mp3BUSINESSES in Zimbabwe are expected to intensify their focus on the informal sector as a primary source of US dollar cash flow, according to a recent report from IH Securities. With the informal economy increasingly becoming a stronghold for US dollar transactions, corporates are strategically targeting this sector to secure consistent access to hard currency…

ZIMBABWE’s banking sector is heavily invested in foreign currency-denominated loans, which account for 88,88 percent of total loans and advances, reaching ZiG27,45 billion by mid-2024, according to recent data. The Reserve Bank of Zimbabwe (RBZ) Banking Sector Industry Report for the quarter ending June 30, 2024, states that banks have remained committed to funding productive…

ZIMBABWE’S diamond production surged by 22,2 percent in the second quarter of 2024, reaching 1,47 million carats, compared to 1,2 million carats in the same period last year, according to the latest data. This increase aligns with Zimbabwe’s recent upward trend in diamond output, bolstered by reserves estimated at over 800 million carats. Production during…

Zimbabwe’s currency, the Zimbabwe Gold (ZiG), may achieve stability only when demand for it reaches critical levels within the economy, says Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee member Persistence Gwanyanya. Since its introduction in April, the ZiG has faced turbulence, recently devaluing from around 14 to nearly 25 to the US dollar. This…

THE Central Mechanical and Equipment Department (CMED) says it plans to introduce interest rates for clients who delay payments starting next year. This comes as the state enterprise has faced financial difficulties due to delayed payments from government ministries and departments. “To mitigate against that, we will be asking for shareholder consent to reciprocate what…