ZIMBABWE National Chamber of Commerce (ZNCC) president Mike Kamungeremu says the Reserve Bank of Zimbabwe (RBZ) should lower interest rates, after a recent hike, which he fears will kill business. The central bank raised interest rates to 200 percent from 80 percent to discourage speculative borrowing and contain high inflation, which has been feeding into…
FARMERS across the country have begun to make land preparations for the coming planting season, amid a mixture of hope and anxiety about high costs of inputs, erratic power supplies, funding challenges and adverse weather forecasts. This comes as there are concerted efforts by both the government and the farming community to raise Zimbabwe’s agricultural…
PUBLIC Service minister Paul Mavima says work-related deaths and injuries are costing the country’s economy and urged companies to combine efforts with the government in investing in resilient occupational…
TREASURY has released $14,4 billion and US$16,3 million as payment to farmers for crops delivered for the 2021/22 season, while $1,8 billion and US$2 million remain outstanding. In a statement released after this week’s Cabinet meeting, Information minister Monica Mutsvangwa said harvesting of the 2022 winter wheat crop was gathering pace in many parts of…
RAINBOW Tourism Group (RTG) says business volumes increased significantly in the half year ended June 30, 2022 driven by a strong performance from conferencing activities. The recovery in the conferencing business comes as the slowdown in Covid-19 cases over the first half of the year has resulted in heightened economic activity across all sectors including…
THE total gross premium written (GPW) by Zimbabwe’s micro-insurers increased by 198 percent to $619 million over the half-year to June 30, 2022, an industry report shows. Micro-insurance is typically served through models that include low-income groups, which constitute a considerable portion of the ailing southern African economy’s population. In its latest report on the…
ZIMBABWE is actively seeking to attract Turkish investors into various sectors of the economy as relations between the two countries grow. Zimbabwe opened its embassy in Ankara in 2019 and currently, the country’s main export items to Türkiye, formerly known as Turkey, are platinum, cotton, tobacco, gold, iron and textiles. Türkiye on the other hand…
BRIDGEFORT Capital (BFC), formerly MedTech Holdings, has warned that a review of Zimbabwe’s capital gains tax (CGT) to 40 percent, as recently proposed by the Treasury, would “undermine” the country’s capital markets. On May 7, the government announced a raft of measures including an increase in CGT on Zimbabwe Stock Exchange shares to 40 percent.…
INFRASTRUCTURE development plays a critical role in promoting economic growth towards the country’s Vision 2030 of becoming a middle-income economy, a Reserve Bank of Zimbabwe (RBZ) official has said. RBZ principal bank examiner Jerry Borerwe told a Construction Industry Federation of Zimbabwe annual congress, recently held in Victoria Falls, that infrastructure development created massive business…
MOST of Zimbabwe’s formally employed individuals do not have a pension arrangement other than the compulsory “inadequate” state plan, an industry report shows. In a report for the quarter to June 30, 2022, the Insurance and Pensions Commission (IPEC), said there was a general increase in membership of pension funds during the year to 976…
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