THE Reserve Bank of Zimbabwe (RBZ) says it has sterilised an additional $1,99 billion of excess liquidity through open market operations (OMO). Last month, the apex bank’s governor, John Mangudya said $14,1 billion had been mopped-up through OMO between October and December 2020, which aided containment of money supply below set targets. In a recent…
AN important aspect in forecasting inflation trends is assessing the impact of temporary price shocks. The expectations-augmented Phillips curve shows that inflation depends on inflation expectations, the gap between output and its natural level (output gap) and temporary price shocks. While inflation expectations and the output gap may be key drivers of inflation, they do…
EXPERTS have implored authorities to keep a beady eye on parallel foreign currency activities so that they do not jeopardise the recovery of Zimbabwe’s economy. Speaking to The Financial Gazette this week, the experts said the last thing the country needed now was to see a disruption of its foreign currency auction system — which…
MONEY market investments are likely to deliver the least returns of all asset classes in Zimbabwe this year, as short-term rates are expected to continue to lag behind inflation, a local research firm has said. Rates for 30 to 180-day instruments have been ranging between 20 and 25 percent per annum, whereas year-on-year inflation was…
GRAIN Marketing Board (GMB) managing director Rockie Mutenha (RM), recently said the parastatal was carrying out maintenance works on silos and was ready to start receiving grain from farmers. This comes as 1,8 million metric tonnes of maize are expected to be delivered to GMB. This week, he spoke to The Financial Gazette’s Group Digital…
MOST firms listed on the Zimbabwe Stock Exchange have defied the national Covid-19 lockdown disruptions to post increased revenues. This comes after the country imposed various levels of lockdown since the first one in March last year, after the deadly virus broke out, disrupting business and social operations. Financial results and trading updates released recently…
ZIMBABWE is expected to finalise its platinum beneficiation framework this year, ahead of the introduction of penalties designed to encourage local processing of the mineral. Government policy at the moment allows platinum group metals (PGMs) producers to export PGMs in concentrates or mate. However, from January 1, 2022, a new penalty framework which will work…
THE GOVERNMENT says grain storage facilities will be ready in time for the harvest season, with the last of the country’s silos scheduled to be fully refurbished by the end of April. Zimbabwe is expecting a maize surplus of 1,2 million tonnes while the country has 12 silo facilities with a capacity of 750 000…
AFRICA is losing an estimated US$50 billion a year from illicit financial flows (IFFs) through a variety of methods, from tax evasion and deliberate mis-invoicing, the United Nations Commission for…
ZIMBABWE’S capital-starved firms present investment opportunities for private equity, a local wealth management firm has said. A highly-volatile economic environment headlined by high inflation and currency fluctuations, has kept both domestic and foreign lending to the private sector at a minimum. According to the Reserve Bank of Zimbabwe (RBZ), most local banks have adopted a…
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