THE United States Agency for International Development (USAID)’s food security arm, the Famine Early Warning Systems Network (Fewsnet) has projected the number of people in need of food assistance in Zimbabwe to be lower in January next year. The 2022-2023 harvest saw the country achieving a bumper harvest leading to improved household food access and…
FOLLOWING a taxing first half of 2023, marked by high currency volatility and brutal power cuts, business is cautiously optimistic that the second half of the year will be much better. In this regard, captains of commerce and industry who spoke to The Financial Gazette this week implored authorities to fortify their current policies, to…
EXPERTS say there is a need for the Reserve Bank of Zimbabwe to start buying US dollars off the market to restore equilibrium in the economy. It comes as the country is currently experiencing a Zimdollar liquidity squeeze, which is expected to continue for a while as the authorities strive to further stabilise the local…
Mining and agricultural equipment manufacturer, Zimplow Holdings Limited, says it has invested US$1,5 million in the expansion and revitalisation of its Bulawayo factory plant. The diversified group’s chief executive, Vimbayi Nyakudya, told The Financial Gazette that the group has been investing in first-class equipment to produce competitive products in the country and the region. “Since…
THE Export Credit Guarantee Corporation (ECGC) says it can assist all exporters, regardless of scale, to access new markets under the African Continental Free Trade Area (AfCFTA). ECGC is a wholly-owned subsidiary of the Reserve Bank of Zimbabwe and a registered short-term insurer. According to ECGC, its export credit insurance is designed to protect Zimbabwe’s…
ZIMBABWE has so far transferred US$119,4 million in token payments to international financial institutions and its Paris Club creditors, as the country seeks to rekindle relations with lenders that had deteriorated due to defaults. The government resumed making quarterly token payments to creditors in March 2021 as a sign of its commitment to the engagement…
IN last week’s piece, I dealt with key considerations that parties must be aware of when contemplating multi-party dispute resolution mechanisms. I looked at multi-party arbitration clauses and the factors that parties must address to be protected at law. This week, I will deal with contractual mechanisms for dealing with multi-party situations and how to…
Oftentimes, when parties enter into commercial agreements, they are fixated on what they stand to gain from the contract and never what happens in the event of a dispute. For this reason, lawyers always emphasise the need for solid dispute resolution clauses in any agreement. This is particularly so when multiple parties are involved in…
ECOCASH Holdings (Ecocash) says its US dollar wallet service recorded an eight-fold increase in transaction values during the quarter ended May 31, 2023 buoyed by the growth in users. The fintech group introduced the US dollar wallet last year. “Adoption and use of our US dollar wallet on the EcoCash platform has grown steadily during…
RAINBOW Tourism Group (RTG) says it will continue to focus on building a sustainable balance sheet with manageable debt levels. The hospitality group said it managed to extinguish its debt and maintained a robust plan to sustain the existing solid working capital base last year. “Cost containment will continue to be a focus area. This…
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