THE property market registered a “steady growth” during the second quarter of the year as risk-hedging investors sought options against erratic currency travails, a financial service firm has said. In an economic and market review for Q2 released this week, First Mutual Wealth (FMW) said the sector registered growth after the economy opened up following…
FOREIGN currency denominated business by short-term insurers increased by 33 percent during the first quarter, an Insurance and Pensions Commission (Ipec) report shows. According to the report, total gross premium written (GPW) by short-term insurers increased by 88 percent from $4 billion in March 2021 to over $7 billion during the comparative period in 2022.…
ZIMBABWE is next month set to host a massive engineering forum in Victoria Falls to explore ways to grow the field globally and define the role of innovative infrastructure development…
ECOCASH Holdings (EcoCash) says a cocktail of regulations around its core activities has inhibited business growth, despite revenue hitting the $30 billion mark in inflation-adjusted terms. In a statement accompanying the company’s financial statements for the year ended February 28, 2022, board chairperson Sherree Shereni said product innovation remained a key priority and had allowed…
BUSINESS continues to contend with major accounting and reporting challenges, amid the high inflation and exchange rate volatility, the Institute of Chartered Accountants of Zimbabwe (ICAZ) has said. This comes as reporting companies are still receiving adverse audit opinions on their results, an annual trend that began in February 2019, when the government controversially effected…
THE World Bank (WB) says Zimbabwe owes US$1,5 billion to the global financial institution and is currently the only African country which is in debt arrears to the Bretton Woods institution. WB Zimbabwe country manager Marjorie Mpundu told editors yesterday during a media engagement meeting that the country will only access new lines of credit…
MONDAY’S introduction of the Mosi-Oa-Tunya gold coins is likely to “cool-off Zimbabwe’s raging parallel market” – in the short to medium term – as they will provide investors with “access to an American dollar-priced asset at a good local currency rate”, Platinum Investment Managers (PIM) says. This comes as another wealth manager Zimnat Asset Management…
THE total value of shares traded on the Zimbabwe Stock Exchange (ZSE) during the second quarter of the year (Q2) was $34,55 billion, a 201,7 percent increase compared to prior year, a financial service firm has said. In its second quarter report released on Monday, Old Mutual Securities (Omsec) said foreign investors were net sellers…
FARMERS are increasingly growing anxious ahead of the fast-approaching summer cropping season as preparations have been sent off the rails by inflation and currency volatility. Both the Commercial Farmers Union (CFU) and the Zimbabwe Farmers Union (ZFU) say some farmers may even fail to participate in production totally, as costs escalate amid the negative effects…
COTTCO Holdings (Cottco) says it sold 50 187 tonnes of lint during the year to March 31, 2022, with 38 524 tonnes sold through the export market, while the remainder —11 663 tonnes — was sold domestically. In a trading update for the first quarter to June 30 2022, the organisation’s acting secretary, Jacqueline…
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