ZIMBABWE’S only exchange-traded Real Estate Investment Trust (REIT), Tigere Property Fund, reached 100 percent occupancy for the half year ended June 30, 2023, buoyed by an upsurge in demand for space at its assets. The Terrace Africa Asset Management (Terrace) fund, which started trading on the Zimbabwe Stock Exchange at the beginning of December last…
TREASURY says the economic stability witnessed in recent weeks will continue, insisting that it now has a strong grasp on the causes behind the country’s currency instability.
THE Reserve Bank of Zimbabwe has urged banks to put in place concrete measures to mitigate against cyber-risk. As Zimbabwe moves more towards being a cashless society, cybercrime targeting the financial services sector is on the rise, with a marked increase in reports of phishing and bank card cloning. The reserve bank’s director of bank…
BUSINESS says it is now able to plan its work better and more efficiently in the wake of the country’s improved power supply. This follows the recent commissioning of Hwange Thermal Power Station’s new units 7 and 8, which resulted in the key US$1,5bn expansion project availing an additional 600 megawatts to the national grid.…
ECONOMIC experts say it is about time the Reserve Bank of Zimbabwe eliminates its currency auction system, which they insist continues to be an encumbrance to the economy’s foreign exchange complex. The auction was set up to stabilise exchange rates and increase local businesses’ access to hard currency at a time the greenback was scarce.…
ZIMRE Holdings (Zimre) says it will unveil two property developments worth US$80 million from its real estate investment trust to unlock some value from its property portfolio. The diversified group’s new investment focus is directed toward infrastructure and landmark development, with an emphasis on sustainability. Zimre has already registered its Eagle Real Estate Investment Trust…
THE Reserve Bank of Zimbabwe says it will amend the exchange control laws to allow tobacco merchants to mobilise local funds for the production of the golden leaf. In terms of Section 4 of the Exchange Control (Tobacco Finance) Order, Statutory Instrument 61 of 2004, tobacco merchants are required to source offshore financing to produce…
OUT of the five exchange-traded funds (ETFs) on the Zimbabwe Stock Exchange (ZSE), Morgan & Co’s multi-sector fund is the only one still in positive real returns this year after the market’s recent bear-run. The country’s main bourse has lost about 35 percent since mid-June, amid tight Zim-dollar liquidity in the economy due to currency…
POLICY think-tank Sivio Institute last week released a report on the execution of the governing Zanu PF party’s 2018 election manifesto showing contrasting performances in two of the most important sectors, agriculture development and fighting corruption. The report, titled Five Years of Progress or Stagnation, represents a scorecard of the governing party’s past five years…
THE Zimbabwe Anti-Corruption Commission (Zacc) says it has so far this year impounded US$200 million worth of assets believed to be proceeds of corruption and expects this to reach US$1 billion by year-end. Zacc commissioner, Ndakaripa Hungwe, told The Financial Gazette that the asset seizures are part of the government’s commitment to fighting graft and…
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