STATE-OWNED mobile network operator NetOne on Friday planted 101 indigenous trees at its Cleveland premises to mark World Environment Day (WED). The trees will have many environmental benefits including preserving the wetlands in that area and reduce erosion. This initiative was undertaken under the company’s Corporate Social Initiative pillar dubbed “One Environment”. This is premised…
APART from its “sentimental value” — given the resemblance with the notes discarded almost two decades ago — the new notes injected into the economy are bound to fail, as hyperination is ravaging the country again. While many are in agreement that there was little Reserve Bank of Zimbabwe (RBZ) governor John Mangudya could do…
ZB FINANCIAL Holdings (ZB) last week said it will soon finalise the merger of its bank and building society. The merger between ZB Bank and ZB Building Society, which is meant to “improve operational efficiencies,” and address capitalisation compliance, was initially announced in 2014. “The group faces a compliance burden going forward, following the review…
BULLS have been raging on the Zimbabwe Stock Exchange (ZSE) while smart investors and traders have been smiling all the way to the bank. Thanks to the $18 billion Covid-19 stimulus package, rumours of money printing and fears of local currency depreciation! On a year-to-date basis, the ZSE market capitalisation has gained 67,5 percent in…
CABS says its income and assets declined significantly in 2019 due to the hyperinflation in Zimbabwe throughout the year. The building society’s results show that it incurred an inflation adjusted net loss of $159 million during the year, as the country’s inflation increased by more than 400 percentage points. “Inflationary pressures over the past year…
If the question what is Zimbabwe’s current legal tender was to be asked, one would be faced with huge difficulty to provide a concise response. In the past year, there has been so much tinkering with the country’s financial legal instruments to the extent that one is left wondering where we really stand going forward,…
FIRST Mutual Properties (FMP) says it will align its products with the changing requirements of the market to survive current and future uncertainties. Zimbabwe’s economic outlook remains uncertain due to various factors and the further potential adverse effects of the C ovid-19 pandemic, all of which will affect demand for various real estate products. “In…
FOLLOWING the unbundling of the Econet Group into two separate entities (Econet Wireless Zimbabwe and Cassava Smartech Zimbabwe Limited), there has been misapprehension amongst most analysts that Econet Wireless Zimbabwe might have lost its lustre. This could have been triggered by the fact that the cash-generating mobile money business (Ecocash) is now housed in Cassava…
EMPLOYERS are required to ensure that all their employees are tested for the Covid-19 virus before resuming operations. Private entities are charging a minimum of US$25 for the tests. According to Statutory Instrument 99 of 2020, these are costs to be borne by the employer. Therefore, over and above monthly salaries and expenses to be…
INSTITUTIONAL investors, including the National Social Security Authority (NSSA) have taken an active role on the Zimbabwe Stock Exchange (ZSE), which has breached the $100 billion capitalisation mark — for the first time — as investors seek to hedge against inflationary pressures. The local bourse put on almost $50 billion in less than two weeks…
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