DIVERSIFIED regional financial services group ABC Holdings (ABC) has expressed concern at the slow rollout of Covid-19 vaccines in the region, but said economic recovery prospects have been boosted by International Monetary Fund (IMF) special drawing rights allocations. The group, which is the holding company of the African Banking Corporation group of companies trading under…
FIRST Capital Bank (FCB) is optimistic about the second half of the year, which it expects to be productive and characterised by further growth in loans and deposits in both local and foreign currency. This comes after the company reported in its financials for the half year period ended June 30, 2021, that foreign currency…
THE Zimbabwe Parks and Wildlife Management Authority (Zimparks) in partnership with conservation non-profit organisation, African Parks has successfully translocated 223 zebras to Matusadonha National Park on the shores of Lake Kariba. According to a joint press statement issued this week by the two entities, the large game translocation is part of a long-term plan by…
THE directors of National Tyre Services (NTS) are asking shareholders to remove limits on their borrowing authority to avoid prejudicing the company. At the company’s upcoming 59th annual general meeting scheduled for September 30, shareholders will decide on an amendment of section 87 of the company’s articles of association, which limits unsanctioned borrowings to the…
ONE important discussion topic during the 43rd Organisation of Eastern and Southern Africa Insurers Conference was titled, “Micro-insurance and financial inclusion: Adoption of Innovation, Technology and Digitisation of Insurance Business Operations beyond Covid”. The paper was presented by Sibongile Siwela, director for Insurance & Micro Insurance at the Insurance and Pensions Commission of Zimbabwe (Ipec).…
A LOCAL equities firm is betting on stocks in sectors positioned to benefit most from Zimbabwe’s US$1 billion International Monetary Fund (IMF) stimulus package to continue to rise despite a general slowdown on the local bourse. With demand for stocks diminishing amid sustained stability in the economy, the Zimbabwe Stock Exchange (ZSE) lost 2,83 percent…
BUSINESS has warned that the country’s worsening power cuts, which are blamed on inadequate generation capacity and ageing infrastructure, threaten Zimbabwe’s economic recovery and rising industrial capacity utilisation. Speaking to The Financial Gazette this week, concerned captains of industry and commerce said the debilitating power disruptions were seriously affecting production at a time that the…
THE 15th edition of the Sanganai/Hlanganani-World Tourism Expo will be held virtually from October 27-29, 2021. Zimbabwe Tourism Authority acting chief executive, Givemore Chidzidzi, told a press conference yesterday that recruitment of exhibitors for this year’s edition had commenced, with new participants anticipated at this year’s event. “We switched to virtual expos last year due…
A GLOBAL think-tank has forecast that the Reserve Bank of Zimbabwe (RBZ) will make a series of rate cuts from next year, as inflation is seen moderating further. The central bank has over the past 12 months kept the accommodation rate — the interest at which depository institutions lend or borrow funds among themselves —…
ZIMBABWEAN banks say the government must speed up plans to pay its debts to creditors and normalise relations with the international community, to reduce the country’s high-risk perception. The southern African nation, which remains shut out by financiers because of its failure to pay previous debts, is on a re-engagement drive, albeit at a slow…
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