INDUSTRY says the weakening of the US$ against the South African rand has raised costs of imported raw materials, which has affected the pricing of certain goods in Zimbabwe. South Africa is the country’s largest trade partner and the rand has gained about 26 percent on the greenback over the past 12 months, while Zimbabwe’s…
COOKING oil production is expected to double due to an increase in soya bean production this year, Oil Expressers Association of Zimbabwe (OEAZ) president, Busisa Moyo, has said. Soya bean hectarage doubled from 2020 levels but oil producers say local production of the crop is still not enough to meet all the country’s oil demand,…
THE number of mobile money transactions in Zimbabwe declined by 10 percent during the third quarter of 2020 as the government tightened controls in the sector which it blamed for fuelling the parallel market for currency, a Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) report has shown. During the quarter, the Harare administration placed…
WHEN litigants go to court seeking orders sounding in money, it is with the intention of securing maximum value. So, when the question of whether to claim for foreign currency as opposed to local currency arises, it goes without saying in which direction clients tend to lean. As legal practitioners, it has grown ever more…
THE lockdowns, which many governments have put in place since the emergence of the Covid-19 pandemic, have placed involuntary trade embargoes within or without their national borders and this has had a severe economic impact especially on establishments relying on actual customer contact. These are also threatening the livelihood of the low-income earners. There is…
FOR many years now, investing was driven by ticker symbols and traditional asset classes such as properties and commodities. However, this is fast-changing as there is now room for passion-aligned investing that extends from digital art to sports clips and cat cartoons. A new trend that is baffling many is that of the investment in…
THE government expects the recently established Land and Agricultural Development Bank of Zimbabwe (LADBZ) to be self-sustaining by the end of 2023, a Cabinet minister has said. The LADBZ was set up following a restructuring of the state-owned Agribank. It will this year receive $700 million from the national budget. The government has also said…
THE Airports Company of Zimbabwe (ACZ) is waiting for the government to gazette a statutory instrument that will spell out the separation of assets and liabilities, as the firm completes its unbundling from the Civil Aviation Authority of Zimbabwe (Caaz). The process, which started in 2018 seeks to avoid a conflict of interest and comply…
THERE appears to be consensus that global and regional growth prospects in 2021 are hinged on the pace of vaccine deployment. The World Bank estimates that in a downside scenario, global growth will be much more subdued at -1.6 percent in 2021 and 2.5 percent in 2022 if vaccine deployment is delayed and the pandemic…
THE construction sector’s offshore borrowing increased a hundredfold to US$293,8 million in 2020, from US$2,9 million in 2019, data released by the Reserve Bank of Zimbabwe (RBZ) shows. It comes as the country’s deteriorating economic environment, headlined by high inflation and currency volatility, has kept domestic lending at a minimum. The official data, which was…
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