ACTIVITY on the Zimbabwe Stock Exchange (ZSE) dropped to a four-month low in February as the market cooled-off following a spectacular rally in January. Official data shows that turnover on the market dropped by 56 percent during the month to $1,53 billion, while the benchmark All Share Index closed at 4 294,45 points, after gaining…
ZIMBABWE is expecting record maize production of between 2,5 and 2,8 million metric tonnes and 360 000 metric tonnes of traditional grains, but the bumper harvest might put pressure on authorities pressed to keep government spending in check to maintain economic stability. Deliveries to the Grain Marketing Board (GMB) are expected to receive two million…
UNIFREIGHT Africa’s (Unifreight) shares have gained a market topping 4 000 percent on the Zimbabwe Stock Exchange (ZSE) this year, spurred by an ongoing equity deal with Zimplow Holdings (Zimplow). The deal, which will see the logistics company disposing of its shareholding in Tredcor Zimbabwe (Tredcor) and Birmingham Investments (Birmingham) in exchange for a 12,5…
A PROPOSED chrome ore export tax in South Africa (SA) would boost investment in Zimbabwe’s chrome ore industry if it passes, experts have said. The proposed tax would make it more expensive for South African chrome producers to ship their unprocessed product overseas, pushing them instead to transform the raw material into ferrochrome inside the…
THE Reserve Bank of Zimbabwe (RBZ) this week began taking applications for its financial technology (fintech) regulatory sandbox, which it says was established to “promote safe and responsible innovation” in the financial services sector. In a document published this week, the apex bank said it had noted a growing number of fintech start-ups which “require…
Porsche and parent company the Volkswagen Group are considering entering Formula 1. Any move depends on the direction of the sport’s next engine regulations, which are due to be introduced in 2025. Porsche Motorsport vice-president Fritz Enzinger told BBC Sport: “It would be of great interest if aspects of sustainability – for instance, the implementation…
THE Reserve Bank of Zimbabwe (RBZ) should keep a tight lid on broad money supply growth, to avoid fuelling high inflation and exchange rate volatility, FBC Securities has said. In its report titled 2021 Outlook and investment primer, FBC Securities said the pace at which money supply grows should be well linked to the economic…
THE agriculture sector largely influences the economic, social and political lives of the majority of people in Zimbabwe. It is also the source of sustenance for most rural Zimbabweans. At commercial level, the sector produces export crops such as tobacco, cotton and horticulture products which bring in foreign currency and improves the balance of payment.…
GOVERNMENT is eyeing a new bailout package for its distressed business sector after reports that the initial package was exhausted by the agriculture sector. Treasury secretary, George Guvamatanga, said in a recent webinar to unpack the Monetary Policy, organised by the Daily News, that the government had taken a deliberate decision to prioritise agriculture and…
ANALYSTS have predicted more activity in the economy following the vaccines’ roll-out programme which began in the country last month. Zimbabwe began the first phase of its Covid-19 vaccination programme in February after receiving 400 000 doses from China. The country has targeted 60 percent of the population under the vaccination programme, which comes following…
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