NON-performing loans in Zimbabwe are set to rise as the economy contracts due to the effects of Covid-19 lockdown restrictions on business activity, a securities trading firm IH Securities says. In a note, IH said financial services would be among the sectors hardest hit by the lockdown, imposed at the beginning of January and later…
THE Old Mutual (OM) Top 10 Index Exchange Traded Fund (ETF) is now available on the Zimbabwe Stock Exchange (ZSE)’s direct access service, which allows investors to participate without manual intervention by brokers. The direct now service which was launched last September, now accounts for more than 20 percent of all trades on the local…
GOVERNMENT is putting in place elaborate plans for efficient management of the 2020/2021 crops, with a view to stem post-harvest losses amid high expectations of a good yield. In a post-Cabinet meeting press briefing, Information minister Monica Mutsvangwa revealed that the full first and second rounds of crop and livestock assessments results would be released…
IMARA Asset Management (Zimbabwe) Limited (Imara), says the dual currency system will help the economy recoup faster compared to when the Zimbabwean dollar was adopted as a sole currency of trade. A number of entities have recently adopted a dual pricing model nearly a year after President Emmerson Mnangagwa gazetted Statutory Instrument 85/20, which allows…
SEEDCO Zimbabwe (SeedCo) says it is engaging players in the sugar bean value chain to increase local production to $2,7 billion from $1,25 billion currently. Farayi Zvavamwe, the seed company’s production manager, told The Financial Gazette that support for growers through the programme, in which SeedCo is partnering a number of non-governmental organisations, will include…
THE National Social Security Authority (Nssa) says it has received 20 bids for its shares in three entities on offer as part of an investment refocus strategy. Nssa is looking for suitors to take up its 32,55 percent stake in Turnall as well as its 31,22 percent shareholding in FML. The state pension fund is…
THE International Maize and Wheat Improvement Center (CIMMYT) has announced that it has successfully developed three fall armyworm-tolerant elite maize hybrids for eastern and southern Africa. The fall armyworm, which originated in the Americas, emerged as a serious threat to maize production in Africa in 2016 before spreading to Asia in 2018. “Host plant resistance…
FINANCE minister Mthuli Ncube has missed the deadline set by the court to publish details of all loans and guarantees incurred by the government with the African Export–Import Bank (Afreximbank) and other international financiers between 2017 and 2020. This comes as High Court Judge Happias Zhou in a December 2020 judgment, gave Ncube up to…
THE government has injected $75 million as seed capital towards a civil servants mutual savings fund, Government employees Mutual savings Fund (Gems), aimed at providing loans and a retirement package. According to the Public Service Commission (PSC), the voluntary fund is with effect from this month. “Treasury has already provided an initial $75 million as…
THE Zimbabwe Stock Exchange (ZSE) recovered from early losses in January to gain 35 percent, closing the month ZWL$117 billion (US$1,43 billion) firmer with a capitalisation of ZWL$435 billion. On the surface, the gains seem odd coming against a backdrop of a stable currency, with recent bull runs having been fuelled by inflation. Analysts, however,…
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