ABC Holdings (ABC)’s performance, across its subsidiaries in 2020 was negatively affected by the Covid-19 pandemic, resulting in a loss of US$27 million. ABC is parent company to a number of sub-Saharan Africa banks operating under the BancABC brand and according to its results, which were published last week, the contagion affected businesses across the…

BUSINESS is fully behind the measures being taken by the Reserve Bank of Zimbabwe (RBZ) as it fortifies its push to rein in the parallel foreign exchange market, to further stabilise the country’s recovering economy. Among the concrete steps that the central bank is taking to deal with unscrupulous traders who are undermining confidence in…

RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says the government will soon start setting aside part of the country’s export proceeds to build up foreign currency reserves. According to Treasury, Zimbabwe’s international reserve position has been averaging 0,7 months of import cover, far below the global benchmark of three months and its desired target…

ZIMBABWE spent $1,5 billion on irrigation development during the first half of the year, which was complemented by US$2 million from development partners, as part of efforts to make the country’s agriculture sector resilient to climate change effects and vulnerabilities. Frequent droughts have made rainfed agriculture production unsustainable in Zimbabwe, resulting in calls for upscaling…