THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says while it has benefited from the Reserve Bank of Zimbabwe-controlled foreign currency auction, the allocation is still not enough for infrastructure development. Potraz director general Gift Machengete said the sector requires a lot of foreign currency to function well. “… I am happy to say…
THE government says starting this year, payments to “correctly-priced” contractors will be done within 30 days. This comes as delayed payments for work done on government projects created serious challenges for contractors, some of whom had to resort to overcharging to beat inflation. Finance ministry permanent secretary George Guvamatanga said the government operates on a…
THE Zimbabwe Farmers Union (ZFU) has raised concerns about lack of insurance for small-holder farmers who risk incurring losses due to weather hazards such as flash floods. This comes amid high optimism about the prospects of the ongoing season. “Flash floods are a risk associated with every rainy season so farmers are encouraged to insure…
THE World Bank (WB) has maintained that Zimbabwe’s economy will grow by 3,6 percent this year against the government’s 3,8 percent. The government is banking on mining, construction, agriculture and tourism after projecting a four percent growth in 2022, down from 4,6 percent, amid inflationary pressures and incessant power outages. “We have already factored the…
ZIMBABWEAN farmers are set to ramp up exports into Dubai and the entire United Arab Emirates (UAE) following strengthened support from the Dubai International Chamber (DIC). DIC was established to strengthen partnerships with global corporations, investors and entrepreneurs and boost Dubai’s status as a major trading hub, as well as represent and support the interests…
THE Reserve Bank of Zimbabwe (RBZ) says it will keep track of progress on the resolution of corporate governance and risk management weaknesses identified at the Zimbabwe Women’s Microfinance Bank Limited (ZWMB). ZWMB, which was licensed in 2018, is mandated to provide financial inclusion and economic empowerment to women. “The public is advised that the…
THE central bank is expecting increased economic activity on the back of a slowdown in inflation, local currency stability, along with a slew of monetary and fiscal policies being implemented to provide a stable environment for the banking sector. In a quarterly report ending September 30, 2022, Reserve Bank of Zimbabwe (RBZ) said significant gains…
LISTED sugar refiner Starafrica Corporation (Starafrica) recorded a 40 percent increase in turnover to $20,90 billion from $14,92 billion, due to strong demand for all the group’s products. In a statement accompanying the group’s financial results for the six months ended September 30, 2022, chairman Rungamo Mbire applauded the government for making efforts to improve…
CEMENT maker Lafarge accounted for the bulk of stocks sold on the Zimbabwe Stock Exchange (ZSE), leading net sellers with shares worth $19,1 billion in 2022. According to the local bourse, foreign purchases accounted for $9,6 billion worth of shares during the year under review, while sales amounted to $41,4 million. Foreign trades accounted for…
BINDURA Nickel Corporation (BNC) says it will focus on recovering the nickel concentrate production deficit and managing costs for the remainder of its fiscal year ending March 31, 2023. This comes as the nickel miner recorded a 25 percent decrease in nickel concentrate production to 1,918 tonnes, for the first half of the 2023 fiscal…
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