ZIMBABWE’S broad money increased by 12,62 percent to $3,59 trillion in April 2023, compared to $3,19 trillion recorded in March, the latest figures from the Reserve Bank of Zimbabwe (RBZ) show. This comes as a number of analysts have blamed money supply growth for the Zimdollar’s spectacular depreciation against major currencies, which has been witnessed…
THE Zimbabwe Investment Development Agency (Zida) says it expects mineral beneficiation to headline new ventures in the medium term, as the government and private sector redouble their efforts towards value addition within the sector. It comes as the ministry of Mines has reported receiving a number of proposals for lithium processing plants following the…
THE National Competitiveness Commission (NCC) is pushing for Zimbabwe to adopt regulatory impact assessments (RIA) to improve its business environment and competitiveness. RIA is a key instrument used worldwide to improve the quality of regulatory decision-making and reduce administrative costs. In a recent bulletin, the NCC said the government should incorporate RIA in national…
THE Reserve Bank of Zimbabwe (RBZ) has come to the defence of the country’s recently adopted blended consumer price index (CPI) — which has faced considerable opposition — saying figures derived from the measure send better signals to investors. The country’s statistics agency, ZimStat, switched to a blended CPI earlier this year, abandoning a ZWL…
WHILE the government has lauded what it sees as the revival of the Industrial Development Corporation of Zimbabwe (IDCZ), business feels the institution remains undercapitalised and constrained by sanctions on Zimbabwe. IDCZ is the industrialisation arm of the government and, according to the Industry and Commerce ministry, plays a strategic role as a development finance…
FREDA Rebecca Gold Mine’s (Freda) managing director, Patrick Maseva-Shayawabaya, says Kuvimba Mining House (KMH) has expended US$25 million towards re-capitalisation of the mine since it took over operation in 2020. The government owns 65 percent of KMH, which has three bullion-producing assets under its wings – Freda Rebecca, Shamva Gold Mine, and Jena Mines. Shayawabaya…
HWANGE National Park is set to undergo a major facelift which will see the construction of a visible informative park entry gate, road network rehabilitation, and new staff accommodation for rangers. This comes as the International Fund for Animal Welfare (IFAW) and Parks and Wildlife Management Authority of Zimbabwe (Zimparks) recently signed a 25-year memorandum…
STATE-owned telecoms operator TelOne says delays in approval of US dollar-indexed tariffs are threatening the viability of the industry. In a trading update released after the company’s annual general meeting last week, TelOne said the delay comes amid acute operational challenges owing to exchange rate volatility and the consequent impact on the debtors’ book. “The…
BUSINESS has pledged to lobby against economic sanctions imposed on Zimbabwe by some Western countries, which it says have dented the country’s investment appeal and its debt profile. This was one of the resolutions at Zimbabwe National Chamber of Commerce’s (ZNCC) congress in Victoria Falls last week. Speaking to The Financial Gazette on the sidelines…
CONSULTATIONS for new regulatory standards for the construction of new green buildings in the country have commenced and are being spearheaded by the government in partnership with the Green Building Council of Zimbabwe. The United Nations Climate Technology Centre and Network (CTCN) is also providing technical support for the programme. The existing model building by-laws…
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