Page 507 – The Financial Gazette

Zimbabwe pushes for global index inclusion

Caledonia revenue up 16pct

Meikles plans supermarket expansion

‘Infrastructure development vital for economic growth’

Tendai KamhungiraJuly 21, 20220953 views

LEADING multi-asset alternative investment firm Global Renaissance Investments (GRI) says the country’s ongoing infrastructure development has the potential to create long-term prosperity and economic growth for future generations. Zimbabwe’s infrastructure development has witnessed remarkable growth in the past few months as several government projects in transport, agriculture, energy, and mining sectors have moved a gear…

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Seed Co banks on US$13 million seed-dryer

Farai Mabeza, Senior Staff WriterJuly 21, 20220710 views

SEED Co Zimbabwe says good opening stocks and early processing owing to the recently installed US$12,5 million artificial dryer will help the company attain value preservation. The seed dryer was commissioned last year and will quicken access to the market, while it is expected to improve seed quality. The company’s group chief executive, Morgan Nzwere,…

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Agriculture sector struggles to attract long-term funding

Farai Mabeza, Senior Staff WriterJuly 21, 20220909 views

AGRICULTURE ministry chief director, strategic planning and business development, Clemence Taderera Bwenje, says the growth of the sector remains constrained by lack of access to long-term finance. This comes as the government has put in place a number of sector specific growth and development plans aimed at improving production and the flow of finance in…

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Money supply up to $971,5 billion

Paul Nyakazeya, Group Digital EditorJuly 18, 20220819 views

ZIMBABWE’S broad money supply, which consists of domestic and foreign currency deposits, rose to $971,5 billion in May from $671,4 billion in April, latest data from the Reserve Bank of Zimbabwe (RBZ) shows. The RBZ said the money stock was largely composed of foreign currency deposits at 57,55 percent and local currency deposits at 42,13…

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VFEX debt listing requirements ‘onerous’

Omega UkamaJuly 18, 20220842 views

THE Bankers Association of Zimbabwe (BAZ) has called on authorities to review debt listing requirements on the Victoria Falls Stock Exchange (VFEX), saying current rules are burdensome. The US dollar-denominated market was launched in 2020 in a bid to promote foreign investment, which has been waning. Apart from securities such as stocks, the market also…

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Mines Bill excites CoMZ

Farai Mabeza, Senior Staff WriterJuly 16, 20220898 views

THE Chamber of Mines of Zimbabwe (CoMZ) has welcomed the approval of the Mines and Minerals Act Amendment Bill by Cabinet, saying it will enhance security of mining titles. The long-standing Bill is also expected to address areas of dispute between farmers and miners. “We look forward to the gazetting of the Bill to enable…

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Investors hold on to VFEX shares

Paul Nyakazeya, Group Digital EditorJuly 16, 20220805 views

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.…

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IPEC schemes ESG framework

Omega UkamaJuly 16, 20220988 views

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…

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Is reputation important for business in the 21st century?

Paul Nyakazeya, Group Digital EditorJuly 16, 20220702 views

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,…

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REITs set to anchor ZSE growth: Bgoni

Paul Nyakazeya, Group Digital EditorJuly 14, 20220828 views

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…

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