MASHONALAND Holdings (Masholds) says the property sector was subdued during the quarter to March 31, 2022, with low demand for space, particularly in the Central Business District. In a trading update, the company said the passive property market was mainly attributable to low economic activity and inflation-induced erosion of purchasing power and disposable incomes. “The…
AGRICULTURE minister Anxious Masuka says a US$25 million project funded by the Swiss Agency for Development and Cooperation (SDC) in Zimbabwe will change the agriculture seed and commodity markets. The venture has been dubbed the Markets and Seeds Access Project (MASAP). According to the SDC, it will increase adoption and utilisation of improved varieties of…
THE Zimbabwe Stock Exchange’s (ZSE) market capitalisation grew by $1,8 trillion to $3,79 trillion in April, as demand for stocks escalated amid renewed inflationary pressures in the southern African economy. The local bourse has over the past few years rallied on high inflation, which was 96,4 percent in April, up from 72,7 percent in March,…
THE Reserve Bank of Zimbabwe (RBZ) says money supply has remained largely under control, with reserve money supply remaining stable at levels of around $28 billion for the past six months, while annual growth in broad money fell from 384 percent in March 2021 to 151 percent in March 2022. In a statement after a…
GOVERNMENT plans to start publishing quarterly growth figures for provinces and the entire economy, Finance minister Mthuli Ncube has said. Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in an economy during a certain period. It is largely accepted as the single most…
LAFARGE Cement Zimbabwe (Lafarge) says it is finalising the installation of a Vertical Cement Mill (VMC) at its Mabvuku plant in Harare, which is expected to double cement milling capacity, with production set to commence this month. The cement maker has a presence in most provinces of the country, with installed capacity to produce 450…
FINANCE minister Mthuli Ncube says treasury will not go back to relying on the overdraft facility with the Reserve Bank of Zimbabwe. Starting in 2013, the government had leaned on the facility to finance budget deficits, which peaked at around 12 percent of GDP in 2017. This had created massive money supply imbalances in the…
FIRST Mutual Holdings Limited (FML) says it will release audited financials for the year to December 31, 2022 after the Insurance and Pensions Commission (Ipec) completes a forensic investigation on the group’s life assurance subsidiary. This is due to a potential material impact the outcome of the audit might have on the financial statements for…
LEADING plastic pipes and fittings manufacturer, Proplastics, says it will this year focus on strengthening its working capital position following the completion of a new factory and the full operationalisation of its mixing plant. The group expects that demand for its products will continue to be buoyed by the various sectors of the local economy…
AIRPORTS Company of Zimbabwe (ACZ) says it is targeting an increase in domestic flight operators to widen options for local travellers and ultimately offer competitive fares. Following the launch of Kuva Air, a new airline operated by Zimbabwean aircraft charter firm Executive Air this week, the country now has three local flight operators, including Air…
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