ZB Financial Holdings (ZB) recorded a 29,8 percent decline in total income to $2,9 billion during the half-year to June 30, 2021 from $4,1 billion for the corresponding period to June 30, 2020. The diversified financial services group’s chief executive, Sherpard Fungura, said the decline in revenue performance was mainly underpinned by a decrease in…
NATIONAL Building Society (NBS) says its three housing projects ― Dzivarasekwa, Newmara and Knockmalloch ― are progressing well and set to deliver a cumulative 704 housing units by year end. In a statement accompanying the institution’s results for the half-year ended June 30, 2021, board chairperson Shingirai Matumbwa said the housing projects were progressing well…
ANALYSTS are betting on activity to increase within Zimbabwe’s property market in the short-term due to a slowdown on the Zimbabwe Stock Exchange (ZSE) lately. The ZSE lost 2,83 percent in August, its worst performance in nine months, as demand for stocks continues to diminish amid sustained stability in the economy. Over the past few…
FIRST Mutual Holdings (FMH) has expressed confidence in the country’s medium-term economic prospects, despite posting an inflation adjusted half-year loss of $1 billion. In its consolidated group financial results for the six months ended June 30, 2021, FMH last week said the loss was mainly due to fair value loss on investment property and higher…
ZIMBABWE’S broad money supply increased by nine percent to $331 billion in July, latest statistics from the Reserve Bank of Zimbabwe show. Broad money, which is also known as M3, is a measure of the entire stock of money in an economy, including foreign currency deposits. In its monthly economic report for July published last…
FIRST Mutual Properties (FMP) says it is scouting for opportunities to improve the performance of its portfolio, and sustainably manage expenses to shield its businesses from future Covid-19 disruptions. In a statement accompanying results for the half-year ended June 30, 2021, the company’s board chairman, Elisha Moyo, said the period was characterised by challenges that…
STATE-owned mobile network operator, NetOne, anticipates its revenue to more than double from $5,9 billion in 2020 following a major upgrade to its network. NetOne is undertaking the US$71 million China Exim Bank-funded project to modernise its broadband infrastructure in partnership with Huawei. “We have …witnessed significant revenue growth and are targeting $16 billion for…
AFRICAN governments have been urged to strengthen their debt framework and increase transparency to avoid an unsustainable debt crisis in the wake of the Covid-19 pandemic, which has left many…
BUSINESS and monetary authorities agree on the urgent need to refine the foreign currency auction system, to stem the growing threat to the economy of the resurgent forex parallel market. This comes as the auction system has been widely credited with stabilising Zimbabwe’s economy and its once derided local currency since its introduction in June…
THE principles of the Electronic Transactions and Electronic Commerce Bill, which seeks to regulate electronic transactions and mitigate cybercrime in the face of increasing digitisation of the economy, was given Cabinet approval this week. The approval comes amid growing concern to attune the country’s legal framework to technological changes by addressing the current deficiencies in…
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