LIQUIDITY on the Victoria Falls Stock (VFEX) has been strained by investors’ reluctance to sell amid high inflation in the country, the US$-denominated exchange’s chief executive has said. Zimbabwe’s annual inflation rose to 191,6 percent in June, from 131,7 percent in May, when it hit three digits for the first time since June last year.…
THE Insurance and Pensions Commission (IPEC) says it is set to come up with an Environmental, Social and Governance (ESG) guideline for the industry. This comes as the country’s financial services sector has started integrating sustainability and climate change principles, while regulators around the world are shifting ESG principles from a moral responsibility to a…
Reputation is an important issue for business in the 21st century. Reputation is considered much more important nowadays, compared to any given point in time in human business history. In today’s highly-competitive environment, corporate success depends more on intangible assets of a company than on the conventional physical and financial indicators. Among the intangible assets,…
REAL Estate Investment Trusts (REITs) will be the major driver of the Zimbabwe Stock Exchange’s (ZSE) growth going forward, the local bourse’s chief executive Justin Bgoni has said. This is because most Zimbabweans consider property to be the safest form of investment which hedges against inflation and offers better returns, he says. Speaking at the…
THE Zimbabwe National Statistics Agency (Zimstat) says the value of the country’s exports amounted to US$513,1 million in May, a 12,6 percent decline from US$587,3 million achieved prior month. In a statement last week, the agency said imports increased by 12,1 percent to US$714,5 million during the same period. This comes as the country’s trade…
TRADE development and promotion body ZimTrade says Zimbabwe can use Ghana as a springboard to access trade markets in the West African region. This comes after the organisation conducted a market survey in Ghana and the United Kingdom (UK) in May this year. “As ZimTrade, we always aim to provide up-to-date trade information and market…
FINANCIAL services group Old Mutual Zimbabwe (OM) has saluted “resilient and innovative” local companies in a challenging environment characterised by volatility, uncertainty, complexity, and ambiguity (VUCA).”
LOGISTICS Company Unifreight Africa (Unifreight) says it is expecting increased revenue and net profit following its investment in Zimplow, which has a wider distribution network. In a statement accompanying the group’s financial results for the year to December 31, 2021, Unifreight chairman Peter Annesley said the group will continue to look for opportunities to remain…
STEWARD Bank says it will continue to leverage its business strategy on the use of digital services to capture customers who have been excluded from the financial system as it credits cost containment measures for bringing back profitability. In a statement accompanying the bank’s results for the full year ended February 28, 2022, bank chairman…
ZIMRE Holdings (Zimre) says it will continue to focus on consolidation to capitalise on economies of scale while eliminating duplication of costs. In the company’s 2021 annual report published last week, chairman Benjamin Kumalo said the group would continue to pursue its “new DNA” of being a financial services group with core competencies in insurance,…
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