THE Insurance and Pensions Commission (IPEC) plans to develop actuarial mortality tables to replace those in current use, which were made in the 1990s. The local insurance and pensions industry currently relies on tables from the United Kingdom and South Africa, along with the outdated local tables. Speaking at the opening session of the fourth…
CONTRIBUTION arrears to pension funds have reached $600 million, the Insurance and Pensions Commission (IPEC) disclosed on Tuesday. IPEC head of pensions Josphat Kakwere said the arrears had reached $600 million as at December, 2017. “Contribution arrears amounted to $600,31 million as at 31 December 2017, accounting for 14,89 percent of total assets as at…
THE Insurance and Pensions Commission (IPEC) says the average pensioner in Zimbabwe receives a pension well below the poverty line. Speaking at a seminar held by the Institute of Chartered Accountants of Zimbabwe in collaboration with IPEC on Tuesday, the commission’s pension department head, Josphat Kakwere said in 2017 pensioners received payouts that fell well…
THE performance of SeedCo’s Zambian unit during the year ended March 2018 was held back by inefficiencies in the administration of agriculture in that territory, the seed company’s chief executive officer Morgan Nzwere has revealed. Nzwere recently told analysts that the Zambian unit, which is the company’s second biggest operation after the Zimbabwean business, had…
THE Zimbabwe Stock Exchange (ZSE) has continued its rally that has been spurred by the monetary crisis in the country, with the market capitalisation pushing over $11 billon this week. The market capitalisation which closed yesterday at $11,3 billion, has now gained more than $1 billion since a little over three weeks ago when it…
THE Zimbabwe Special Economic Zones Authority (ZIMSEZA) says it is ready to roll after a year of putting in place systems and procedures. The authority now has a secretariat and a chief executive officer (CEO) and will start approving projects as soon as government gazettes regulations and incentives, which are expected next week. The authority,…
MOBILE trading in securities on the country’s major exchanges, the Zimbabwe Stock Exchange (ZSE) and Financial Securities Exchange (FINSEC), is set to commence by month end. Eliah Sarayi, spokesperson of Escrow Group, which is the technology provider of C-TRADE, the platform that enables the online and mobile trading of securities listed on the two exchanges,…
ART Corporation says it will venture into the region to grow its revenue and generate foreign currency after posting a profit after tax of $3,6 million for the half year to March 31, 2018 from $1,2 million on prior year. The group’s revenue at $22 million was 45 percent higher than the prior year as…
THE People’s Own Savings Bank (POSB) says the introduction of the Central Credit Registry and the Movable Security Registry has simplified its lending processes. Speaking at the bank’s fourth annual general meeting last week, chief executive officer Admore Kandlela said the bank viewed the introduction of the registries as an opportunity to promote lending. He…
OVER one million hectares and property worth over $300 000 was lost to veldt fires during the 2017 “fire season”. Veldt fires have become a persistent environmental challenge in Zimbabwe destroying natural resources, property and life. The Livestock Report Update of May 25 from the Environmental Management Agency shows that 3,29 percent of total land…
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