ZIMBABWEAN listed companies’ 2020 earnings were among the best in the region after improvements driven by the ZWL$’s stabilisation, a recent report has shown. An African Financials survey ranking southern Africa’s 30 largest listed companies ― outside of South Africa ― showed that Zimbabwean businesses registered the biggest improvements in inflation adjusted US$ earnings during…
LAFARGE Cement Zimbabwe (Lafarge)’s diversity and ongoing expansion projects have positioned it for local market dominance, a research firm has said. The company recently commissioned a new US$2,8 million dry mortar (DMO) plant, which is expected to increase its manufacturing capacity to 100 000 tonnes from 7 000 tonnes. It has also begun investing in…
ZIMBABWE’S industrial hemp production space is wide open for investment as authorities are looking to licence more producers to grow the budding industry’s output to US$100 million in five years. The country legalised production of industrial hemp — a variety of the cannabis sativa plant species — in 2019 and promulgated a statutory instrument guiding…
ZIMBABWE’S miners are confident of recovering from the setbacks caused by Covid-19 disruptions early this year and benefit from the continuing positive economic environment prevailing in the country. The miners were hit hard by the toughened lockdowns imposed by authorities to curb the spread of Covid-19 early this year, but have renewed expectations of…
FBC Holdings (FBC) this week said its income grew by 14 percent to $8,1 billion during the year ended December 31, 2020, driven by currency revaluations and a growth in lending. Despite what the financial services group’s chairman, Herbert Nkala, described as a challenging year, it managed to post a profit of $1,5 billion, compared…
One of the foundational principles in the theory of international trade has to do with comparative advantage. The law is popularly attributed to English political economist David Ricardo and his 1817 book, On the Principles of Political Economy and Taxation. It refers to an economy’s ability to produce a particular good or service at a…
FINANCE and investment advisory services group, Imara Holdings (Imara), says fresh concerns have arisen in the local market over potential US$ inflation at a time the ZWL$ has been stabilising. In a recent note, Imara said inflation fears for global economies using greenbacks comes as the US has announced rapid money growth together with massive…
THE Tourism Business Council of Zimbabwe (TBCZ) says domestic tourism remains low on account of depressed disposable incomes and high operating costs at a time the industry is trying to look within to counter the impact of the Covid-19 pandemic. TBCZ chief executive, Paul Matamisa, told The Financial Gazette that with restrictions and embargoes still…
TOBACCO farmers say they are losing out on their earnings due to the disparity between official foreign currency exchange rate and parallel market rate. The farmers surrender 40 percent of their foreign currency earnings to the Reserve Bank at the auction rate currently hovering around US$1 to $84. On the parallel market the greenback is…
THE Confederation of Zimbabwe Industries (CZI) has urged government to revise exporters’ foreign currency retention downwards, warning that current levels threaten business viability. In January, the Reserve Bank of Zimbabwe (RBZ) increased the portion paid out in local currency at the official exchange rate to 40 percent from 30 percent. “The plea to the Finance…
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