A CLEAR and scientific method was needed to quantify, and come up with Zimbabwe’s $18 billion stimulus package, which also lacks a criteria for identifying potential beneficiaries, the Zimbabwe Coalition on Debt and Development (Zimcodd) says. This comes as several other commentators have said Harare “must do a bit of quantitative easing to directly…
TRUWORTHS says it is refocusing its business towards cash sales amid signs that the inflationary environment in Zimbabwe will remain for the foreseeable future. The country’s annual inflation rate hit a 10-year high of 647 percent in March — a situation which has been driven by its monetary imbalances headlined by foreign currency shortages. “The…
LISTED crocodile skin producer, Padenga Holdings (Padenga), says it has completed a feasibility study into diversifying its operations to include Avocado and Macadamia farming, as it seeks to widen income streams. In a commentary to financial results for the year ended December 31, 2019, the firm said production was likely to commence next year. “The…
STANDARD Chartered Bank Zimbabwe (StanChart) says it recorded a $134 million loss in the financial year to December 2019 due to the country’s hyperinflationary environment. This was after the southern African country’s inflation had surged from 57 percent in January to 521 percent in December. Lovemore Manatsa, StanChart’s board chairman, said the bank achieved a…
MEASURES to combat the spread of Covid- 19 have had far-reaching consequences, particularly in developing countries such as Zimbabwe. Social distancing has meant that most households and individuals are economically inactive and cannot generate any income. While an estimated 88,7 percent of working-age people in Zimbabwe are economically active, the vast majority earn a living…
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PRESIDENT Emmerson Mnangagwa’s $18 billion stimulus package is “far short of national requirements to shore up a flagging economy” amid concerns about how it will be financed and whether it would not be inflationary, analysts say. This comes as Finance minister Mthuli Ncube has revealed in a startling letter to the International Monetary Fund (IMF)…
THE “new” interbank market introduced by the Reserve Bank of Zimbabwe (RBZ) has been inefficient as the productive sector cannot access the foreign currency, the Confederation of Zimbabwe (CZI) says. In a recent update CZI, the country’s largest business member organisation said companies were failing to access foreign currency on the “new” interbank market which…
BANKS in Zimbabwe are relying on non-funded income due to the heightened risk posed by the current inflationary economy, a new report has shown. In an investment market review report for the first quarter of the year, Akribos Research Service (Akribos) said non- performing loans were declining as bank’s lending appetite was weakening. “Looking at…
INVESTING in other markets with stable currencies will increase Simbisa Brands (Simbisa)’s profit and revenue, a research service firm has said. In an analysis of the company’s financial results for the six months to December 31, 2019, Akribos Research Service said Simbisa, Zimbabwe’s largest fastfood restaurant operator, would experience growth and record more profit by…
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