NATIONAL Building Society (NBS) has completed its US$6,4 million Tynwald Cluster Homes project in partnership with Naldline Trading. For the Tynwald project, NBS contributed funding for the construction of units while the partner contributed the serviced land. The project will deliver 120 cluster units comprising two and three-bedroomed models to shell structures, which are to…
NEDBANK Group (Nedbank) says it regrets the pressure consumers have had to bear from rising interest rates, but its financial position is better for it. The Reserve Bank of Zimbabwe capped key interest rates at 200 percent last year before cutting them to 150 percent, adding that it will maintain a tight liquidity stance despite…
TANGANDA Tea Company (Tanganda) says it is targeting increased production at its estates to grow earnings. In a recent interview with The Financial Gazette, Timothy Fennell, Tanganda’s chief executive, said the increased productivity will keep up with the growing worldwide demand for its crops. “Currently we are exporting in the region of 4 000 tonnes…
INVESTMENT expert, Lionel Marumahoko will feature at the country’s leading business publication, The Financial Gazette, executive dialogue breakfast meeting to be held at the end of this month in Harare.
AMALGAMATED Regional Trading Holdings (Art) says it is currently working with several partners to establish off-grid power support in light of ongoing power challenges. Zimbabwe is currently experiencing acute power shortages, with daily outages of up to 18 hours. The crisis has seen companies turning to costly diesel generators, sharply pushing up operational costs. “On…
ZIMBABWE In recent years, Zimbabwe has witnessed a notable surge in young entrepreneurs making significant strides across various sectors of the economy. This emerging generation of business leaders is challenging…
THE United States Agency for International Development (USAID)’s food security arm, the Famine Early Warning Systems Network (Fewsnet) says the country’s macroeconomic environment will likely remain volatile despite some relative stability witnessed at the end of 2022. In its latest food security outlook covering the February to September 2023 period, Fewsnet said the local currency…
AT LEAST 28 000 workers in the clothing industry have lost their jobs since 2013 due to the imports of second-hand clothes into the country, a sector expert has said. The National Union of the Clothing Industry’s general secretary, Joseph Tanyanyiwa, told The Financial Gazette this week that the government must put measures in place…
NEDBANK Zimbabwe (Nedbank) says its cost-to-income ratio fell within its target during the 12 months to December 2022, spurred by improved efficiency. Cost-income is the ratio between the costs involved in running a business and the income the business produces. The ratio is important for determining a bank’s profitability because it shows how efficiently the…
POWERSPEED Electrical (Powerspeed) says controls limiting pricing ratios between the local currency and the US dollar continue to make it expensive for customers with the greenback to purchase from formal retailers. This comes as there is an evident increase in customers opting to buy on the informal markets using the US dollar, as it is…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More