President Emmerson Mnangagwa recently gave an amnesty to illegal holders of firearms to surrender them to their nearest police station without any repercussions. This amnesty runs until the September 30, 2022. This was in response to the growing trend of violent crimes around the country involving unregistered firearms. This week’s article will address how to…
STANBIC Bank Zimbabwe (Stanbic) says net interest income for the half year ended June 30, 2022 grew by 66 percent, anchoring the bank’s revenue growth. The financial institution’s chief executive, Solomon Nyanhongo, said the growth in net interest income was largely spurred by the strong growth in interest earning assets as new lending assets were…
HIPPO Valley Estates (Hippo Valley) recorded an inflation adjusted profit of $4,09 billion for the year to March 31, 2022, a 38 percent increase from $2,96 billion in the prior year driven by a “positive market and product mix”. The sugar producer’s adjusted EBITDA declined by 49 percent to $3,1 billion from $6,1 billion, owing…
FIRST Capital Bank (First Capital) suffered a US$30,4 million hit on its core capital books in the first half year as a result of the rapid devaluation of the domestic currency. In a statement accompanying the bank’s reviewed financial results for the half year ended June 30, 2022, First Capital board chairman Patrick Devenish said…
FIDELITY Life Assurance of Zimbabwe (Fidelity) says it will focus on preserving value for its policyholders and stakeholders as it diversifies its portfolio investments. Commenting on the company’s outlook after announcing the group’s financial results for the year to December 31, 2021, chairman Livingstone Gwata said the group will spread its products, aligning them to…
IN business and in life we all seek to stand out from the crowd. Having stood out from the crowd, we want to protect our competitive edge, be it be our services, our work product (goods), or our ideas. That is exactly the purpose of a trademark. A trademark provides protection to the owner of…
BUSINESS is cranking up its push for another stimulus package to help commerce and industry recover from the residual effects of Covid-19 and economic strife. Speaking to The Financial Gazette this week, business leaders said the issue of a fresh stimulus package had become more urgent in light of the dire economic challenges experienced over…
DIVERSIFIED financial services group Old Mutual Zimbabwe (Old Mutual) is targeting to open up more credit facilities to the productive sectors of the economy in the second half of the year. Addressing shareholders at the group’s analysts briefing this week, Old Mutual chief executive Samuel Matsekete said the group’s appetite for lending remains firm. “As…
ZIMBABWE’S broad money increased by 15,25 percent to $1,1 trillion in June 2022, compared to $973,5 billion recorded in May 2022, the Reserve Bank of Zimbabwe (RBZ) has said According to the RBZ’s monthly economic review for June, the increase reflects an expansion of $98,75 billion and $49,40 billion in foreign currency deposits and local…
AGRICULTURE minister Anxious Masuka says the government will maintain various agriculture support programmes, saying this remains critical for Zimbabwe’s economic development. This comes after criticism of government support programmes, which some economic analysts say are unsustainable and are bleeding the fiscus. This has seen calls coming from various sectors for the government to create an…
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