ZIMBABWE must further improve its macro-economic environment if the country is to attract much-needed foreign direct investment, experts say. This comes after Treasury revealed last week that foreign investment in Zimbabwe had contracted by 31 percent, to US$30,6 million during the first 10 months of 2020 — from US$44,5 million last year. For a sense…
A QUIET takeover and shareholder change is looming at Masimba Holdings (Masimba), as a deep-pocketed and acquisitive investor has snapped up a 20 percent stake. This comes as the Zimbabwe Stock Exchange (ZSE) has been hit by a number of deals, including ZB Financial Holdings Limited’s alleged takeover by another bank, Powerspeed and Starafrica corporation’s…
THE government says it has begun reforming Zimbabwe’s pension system, with $70,4 million having been allotted as seed money for a fund to allow the migration of the public service scheme from a pay-as-you-go to a defined benefit. Public service pensions are currently being financed by the fiscus as opposed to an established fund, which…
ON September 20 this year, the High Court handed down a judgment touching on a crucial aspect of labour law and it is only expedient that this judgment be brought to the attention of the reading public. It is a well-written and well-reasoned judgment and applause must be given to Justice Dube for doing justice…
RESIDENT Emmerson Mnangagwa’s government continues to insist that the economy will grow by 7,4 percent in 2021 basing its hopes on firm mineral prices and a good rainy season, which is expected to boost agriculture and electricity production. Authorities also contend that the economy is on a sound footing after completing the Transitional Stabilisation Programme…
BUSINESS leaders have voiced concern over Finance minister Mthuli Ncube’s 2021 National Budget’s “lack of solutions to the funding challenges” faced by industry and corporates. Zimbabwe’s hostile economic environment, with hyperinflation reported at 471 percent for October, has kept both domestic and foreign lending to the private sector at a minimum. Ralph Watungwa, the president…
FINANCE minister Mthuli Ncube says the launch of Zimbabwe’s first Exchange Traded Fund (ETF) this week, was a good launchpad for derivatives in the country’s shallow capital market. The Old Mutual Zimbabwe Stock Exchange (ZSE) Top 10 Index ETF was launched on Tuesday and will start trading on the local bourse in January. “This is…
FINANCE minister Mthuli Ncube has given US$38 million to the controversial war veterans fund, as the ex-combatants seek to establish their own bank, mines and other business ventures. Ncube said at least eight farms had been identified to cater for the agricultural side of the fund. “The 2021 budget appreciates and recognises the significant effort…
DURING my many years of private practice, I have encountered several individuals who have been left destitute and penniless after rushing to sign deeds of suretyship with little understanding of the implications of their action. Only when the messenger of court or sheriff of the High Court would have pounced on them and attached their…
PROCHOICE Logistics and Agritec (ProChoice) has introduced new machinery aimed at increasing agriculture productivity and enhancing farmers’ earnings. The local engineering company showcased some of its state-of-the-art machinery at this year’s Zimbabwe Agriculture Show in Harare. Prosper Muchenje, ProChoice’s managing director, said the company’s new generation cultivation rippers were equipped with technology that allows the…
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