ZIMBABWE’S trade with other nations was subdued in January and February, as both imports and exports slumped to their lowest levels since 2021, the latest ZimStat data shows. The country’s total exports were flat in January and February at US$428 million, compared to US$633 million in December and US$543 million last January. Imports were also…
FIRST Capital Bank (FCB) says it seeks to diversify its loan portfolio, which saw significant growth in agriculture lending last year, to ward off risk. The bank is also targeting new credit lines worth US$90 million. FCB managing director Ciaran McSharry told The Financial Gazette after an analyst briefing that there were other areas with…
NEDBANK Zimbabwe (Nedbank) says its inflation-adjusted profit for the year ended December 31, 2022 rose 311 percent to $12,77 billion from $3,1 billion in the comparative period on the back of increased funded and non-funded income. Unrealised foreign exchange gains contributed 70 percent of the increase in non-funded income, which rose by 205 percent. In…
WE live in a society in which adoption is not talked about enough. Adoption can improve the lives of children who otherwise would not have the chance to be exposed to opportunities for self-development, however insignificant they may seem in the beginning. Some of the most famous and influential people in the world were adopted.…
BUSINESS optimism has been dented by a challenging first quarter, marked by brutal power cuts and continuing exchange rate volatility. In addition, commerce and industry anxiety around possible policy changes and political turbulence before, during and after the upcoming national elections is quelling business confidence. This comes after the country’s relentless power cuts intensified during…
SEED Co Limited says it is preparing for the coming winter and summer planting seasons and has vowed to help farmers grappling with a number of challenges such as credit access. The seed producer said it would, in that vein, continue assisting seed growers with inputs. “We have conducted various trainings, put in place exchange…
EXPERTS say rising money supply and high demand for the US dollar (US$), as well as a confidence deficit in Zimbabwe, have piled pressure on the domestic unit resulting in the current spikes in both official black market exchange rates. The Zimbabwe dollar’s slide has intensified in 2023, losing about 23 percent against the greenback…
AGRICULTURE permanent secretary John Basera says Zimbabwe should replicate maize seed sector self-sufficiency across the entire agriculture space to save jobs and foreign currency. He said Zimbabwe had the potential to produce enough seed for itself for different crops and even export to other countries on the continent. “We now need 100 percent import substitution…
FARMERS say they hope not to experience the same payment challenges that they have been facing in past seasons, particularly with delays, as they deliver this year’s summer crop. This comes as the government is expecting over 3,2 million tonnes of cereals against a requirement of 2,2 million tonnes. It also follows a record 375…
THE National Social Security Authority (Nssa) says its social security scheme targeted for the informal sector will be operational next year. The administrator of Zimbabwe’s mandatory state pension scheme says more than five million citizens are threatened with old age poverty due to a social security coverage gap in the country. An International Labour Organisation…
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