BUSINESS says the volatility of the Zimbabwe dollar, unrelenting power cuts and the disruptive threat of the forthcoming elections could scupper the country’s 2023 prospects for significant economic growth. Interviewed captains of commerce and industry said yesterday that while it was likely not all doom and gloom on the economic front this year, the government…
THE Zimbabwe National Chamber of Commerce (ZNCC) has renewed calls for the government to speed up the Arrears Clearance, Debt Relief and Restructuring strategy (ACDRR) to enable the country to access new lines of credit. The ACDRR strategy outlines and explores possible debt resolution options under the Heavily Indebted Poor Countries (HIPC) Initiative and non-HIPC…
THE recently launched long-haul fibre optic network project in Victoria Falls is set to make Zimbabwe a focal point of the Internet on the African continent, an official has said. The 1,180-kilometre project stretching from Beitbridge to Victoria Falls is a multi-million-dollar venture between international group, Bandwidth and Cloud Services (BCS) and fibre infrastructure and…
THE Economic Intelligence Unit (EIU), a global team of economists, projects the Zimbabwean dollar to be among the weakest currencies in the world this year, as the International Monetary Fund warns that a third of the globe will face recession. In its recent yearly report titled: “Africa Outlook 2023: The Challenges Ahead”, EIU said most…
DELTA Corporation (Delta), the country’s biggest brewer and beverages manufacturer, says it is targeting a yearly capital expenditure of US$60 million to improve operational efficiencies. This comes as the firm embarked on capacity growth across all its sectors, with four new production lines expected to come on board in the next few months. “In total,…
THE Zimbabwe Anti-Corruption Commission (Zacc) says it will direct more effort towards working with the private sector in the fight against graft this year. This comes as a Zimbabwe National Chamber of Commerce 2022 State of Industry and Commerce survey report said 77 percent of respondents had cited corruption as the second major factor contributing…
ANALYSTS have warned that the ZWL-denominated Zimbabwe Stock Exchange (ZSE) continues to effectively lose its relevance and usefulness as migrations to the US-denominated Victoria Falls Stock Exchange (VFEX) increase. Speaking to The Financial Gazette this week, experts said with the upcoming elections and the continued tight monetary stance by authorities, investors should brace for another…
ZB FINANCIAL Holdings (ZBFH) will this year conduct a national customer service survey cutting across all industries in a bid to improve on service delivery. In a recent note, ZBFH group chief executive Shepherd Fungura said the group’s operating model had shifted, to put customers at the centre of its business. “In the coming year,…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says mobile network operators (MNOs) and Internet Service Providers (ISPs) are struggling to maintain connectivity, resulting in a high rate of connection loss across all consumer segments. The revelations were made during the launch of Potraz’s Consumer Satisfaction Survey 2022 for the postal, telecommunications and courier…
ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, slightly eased to $1,88 trillion in October last year, from $1,91 trillion registered in September, latest data from the Reserve Bank of Zimbabwe (RBZ) shows. In its monthly economic review for October, the RBZ said the money stock was composed of foreign currency…
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