OLD Mutual Investment Group Zimbabwe (OM) says the country’s economic growth prospects are “positive”, despite fears that the forthcoming 2023 elections might result in policy reversals and political violence. In a recent note, the wealth management firm warned that political tensions could increase again as campaigning for the 2023 general election ramps up. “Frozen political…
THE Safari Operators Association of Zimbabwe (Soaz) says the country’s tourism industry requires funding to reach its full potential. The sector, which currently contributes between 12 and 13 percent of the country’s GDP, aims to increase its contribution to 20 percent in the next seven years. “Funding is one critical issue where, as a sector,…
THE Airports Company of Zimbabwe (ACZ) expects a surge in demand in the air travel market, as a host of airlines eye new routes into Zimbabwe. A number of airlines including Zambia Airways, Eswatini Air and South African low-cost carrier, FlySafair were recently licensed to fly into Zimbabwe and are set to begin services soon.…
A LOCAL research firm says banks in Zimbabwe continue to be impacted by the country’s “volatile” policy environment while business leaders and other experts have long characterised the country’s policy landscape as “inconsistent”. “Income mix for local banks has been largely reflective of conservative lending practices, with non-interest income being the major contributor within the…
ANGLO American Platinum (Amplats)’s Zimbabwean unit, Unki Mine, was the only key platinum group metals (PGM) production division to register meaningful growth in primary mined volumes in 2022. In its annual report for the year ended December 31, 2022, Amplats said the mined supply of platinum, palladium and rhodium declined in 2022, while platinum and…
ZIMBABWE can ramp up its tobacco production significantly and achieve the country’s aim of building a US$5 billion industry by 2025, key stakeholders say. However, and to realise this goal, farmers want a number of challenges that they are facing to be dealt with urgently — including financing, as well as better prices and payment…
Open Forum with Takemore Mazuruse
AFTER over a decade of regrettable economic melt-down and a widely condemned political environment coupled with violence, intimidation and harassment of opposition political and other human rights activists, the Government of National Unity (GNU), born out of the Global Political Agreement (GPA), has brought some sense of relief.
CBZ Holdings (CBZ) says it is developing products to encourage investment in renewable energy to mitigate the effects of climate change. Losses from weather-related incidents and natural disasters have increased globally, which influences the insurance industry, the economy, and inflation dynamics. Speaking to The Financial Gazette recently, CBZ group chief executive Blessing Mudavanhu said it…
A LOCAL research firm, Akribos, says high lending costs continue to inhibit growth, with most businesses now avoiding borrowing. The Reserve Bank of Zimbabwe set interest rates at 200 percent last year, before lowering them to 150 percent this year, to manage money supply and curb speculative borrowing. “Despite a reduction in the bank policy…
THE Zimbabwe Revenue Authority (Zimra) has urged taxpayers to continue lobbying for a preferred tax environment to improve the country’s business environment.
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