ECONOMISTS and financial experts have cautioned the Reserve Bank of Zimbabwe (RBZ) over its recent decision to hike the main lending rate which they say frustrates access to loans and funding for businesses. However, the RBZ does not expect to see a rise in inflation and says its decision was informed by the need to…
THE government plans to mobilise an additional 93 combine harvesters and to import US$17 million worth of grain dryers in response to the harvesting demands of the current farming season. Information minister, Monica Mutsvangwa told a post cabinet press briefing this week that while the country was awaiting the results of the first round of…
ZIMBABWE National Chamber of Commerce (ZNCC) vice-president and businessman Mike Kamungeremu has been named in a 14-member Zimbabwe School Examinations Council (Zimsec) board. Kamungeremu is the managing director of Tendo Electronics and Power Engineering and current board chairman of Ramola Security Pvt Ltd. The youthful businessman is the past ZNCC Harare Branch chairperson and ZNCC…
CONTROVERSIAL investor Eurasian Resources Group (ERG) has lost its platinum mining claims in Zimbabwe, after failing to develop them for the past 11 years, The Financial Gazette can reveal.
WHILE some market watchers have raised the alarm over possible investor prejudice in recent deals on the Zimbabwe Stock Exchange (ZSE), chief executive Justin Bgoni says existing laws and market rules guarantee fairness. The market has lately seen a number of mergers, acquisitions and de-listings amid indications that some companies are angling for migration to…
ZIMBABWE has plans to diversify and beneficiate its product range to get maximum value from its exports. Last year the country’s exports grew to US$4,4 billion from US$4,28 billion recorded in 2019. However, worryingly for the country, primary commodities dominated the export list with minerals making up 73 percent of all exports, according to the…
With the advent of the new normal, where systems and the way of working are constantly changing, most individuals are opting for self-employment so as to service a larger number of clientele as well as pay lesser tax. This is particularly for services such as graphic designing, Information and Technology (IT), bookkeeping and accounting, only…
THE economics discipline involves studying economic or business cycles. An economic cycle is defined as the fluctuation of the economy between periods of expansion (growth) and contraction (recessions). It is usually measured with the Gross Domestic Product (GDP) of a country. Generally, an economic cycle goes through four stages namely expansion, peak, contraction and trough.…
THE government has called for market discipline and self-restraint by traders following the recent surge in prices of some goods in the country. Speaking on Tuesday during a Daily News webinar that unpacked the Reserve Bank of Zimbabwe (RBZ)’s recent Monetary Policy Statement, the ministry of Finance’s permanent secretary, George Guvamatanga, said the creeping indiscipline…
THE Reserve Bank of Zimbabwe (RBZ) mopped up $14,1 billion of excess liquidity through open market operations (OMO) between October and December last year, which it says aided containment of money supply below set targets. Reserve money — the fundamental component of money supply — closed 2020 at $18,76 billion, compared to a target of…
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