TREASURY says it has reached a concession with the International Monetary Fund (IMF) on a Staff Monitored Programme (SMP), a crucial step toward restructuring Zimbabwe’s US$21 billion debt.The nine-month SMP will see the lender provide technical assistance as part of economic reforms in the southern African country’s arrears clearance and debt resolution process.“Currently, Zimbabwe is…
THE property market has raised environmental and safety concerns about the mass exodus of businesses to residential areas, coupled with the new trend of cluster houses in low-density suburbs.Harare is experiencing a significant shift, with businesses migrating from the Central Business District (CBD) to residential areas and suburbs.This trend is primarily driven by factors like…
A sharp growth in the average selling price for crocodile skins at international markets rescued Padenga’s agribusiness earnings after the company experienced a eight percent drop in skin harvests during the year ended December 31, 2024.The Victoria Falls Stock Exchange (VFEX)-listed crocodile breeder, in its financials for the year under review, said low volumes were…
THE United Kingdom (UK) envoy says his country is working extra hard to increase Zimbabwe’s ability to export to the UK, Europe, and around the world. UK Ambassador to Zimbabwe Pete Vowles made the remarks during a ZITF reception cocktail on Tuesday, adding efforts were in overdrive to boost trade and investment opportunities between the…
CALEDONIA Mining Corporation (Caledonia) says it wants to capitalise on the current gold price rally to invest in cost reduction efforts which could lead to more efficiency in the long-term.The Victoria Falls Stock Exchange (VFEX)-listed gold miner recently embarked on a sweeping cost reduction exercise, which consisted of a costly retirement of staff at its…
THE Zimbabwe International Trade Fair (ZITF) Company has secured a partner to invest US$12 million in the construction of a modern trade exhibition and shopping centre in Bulawayo. The project aims to transform the trade exhibition hub and is part of the ZITF’s initiative to modernise its premier trade showcase grounds and exhibition centre. On…
THE government is calling on accountants in the country to complement efforts in curbing illicit financial flows (IFFs), as the country looks to retain more capital for investment in productive sectors, job creation, and infrastructure development.According to multiple reports, the country experiences a substantial financial drain, exceeding US$200 million monthly, due to IFFs, hampering economic…
THE Zimbabwe Investment Development Agency (Zida) approved 207 new licences in the first quarter (Q1) 2025, up 44,8 percent from the same period last year thanks to improved investor confidence and efficiency in the new electronic licensing system. Zida launched the electronic Do-ItYourself (DIY) investment licensing system in the first quarter of last year, which…
ZIMBABWE must “prioritise the adoption of homegrown solutions to address the country’s pressing economic challenges” amid evolving global geopolitical dynamics, Vice President Constantino Chiwenga has said. This comes as calls for a domestic capital-led economy have been boosted by institutions such as the Public Sector Pension Fund, which has invested millions into infrastructure and the…
KAVANGO Resources, a London Stock Exchange-listed company with gold projects in Zimbabwe, has secured a US$5 million convertible loan note (CLN) facility from Zimbabwean pension funds. The CLN is interest-free and will be drawn down in three tranches, supporting mine development and the construction of Kavango’s first gold processing plant. Kavango intends to convert the…
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