THE International Monetary Fund (IMF) says it cannot lend money to Zimbabwe unless Harare clears its arrears with other international lenders. At the same time, the IMF said Zimbabwe has been in good standing with it since it cleared its then longstanding arrears in 2016. IMF representative in Zimbabwe, Patrick Amir Imam, told The Financial…
DIVIDEND payments to foreign investors and capital remittances from disinvestments out of Zimbabwe increased 88 percent in 2020 to US$259 million as the central bank’s weekly currency auctions improved foreign exchange availability. Foreign investors have previously struggled to repatriate dividends and disinvestments due to foreign currency shortages and the Reserve Bank of Zimbabwe (RBZ)’s failure…
…as Coronavirus disrupts supply chains THE Confederation of Zimbabwe Industries (CZI) says nearly 86 percent of industry’s supply chains have been severely disrupted during the current national Covid-19 lockdown. Zimbabwean authorities imposed a tough lockdown at the beginning of January following a sharp rise in deaths and infections. In its State of the Industry Report,…
ZIMBABWE’S financial sector is primed for mergers and acquisitions in 2021 amid indications that a majority of institutions are struggling to raise capital, a research firm has said. High inflation in recent years has seen a number of institutions’ capital bases shrinking in real terms, raising solvency and liquidity risk. “Our research reveals that there…
OPINION among local equities analysts as to whether the Zimbabwe Stock Exchange (ZSE) will return to fundamentals valuation in 2021 is split, with one side forecasting a return to basics while others see a continuation of inflation hedging. In the face of a currency crisis which has seen the country’s inflation rising as high as…
ANALYSTS have tipped the economy to rebound from the current coronavirus chaos in the next quarter, on the back of strong tobacco and grain deliveries following improved rainfall. At the same time, the Reserve Bank of Zimbabwe (RBZ) has said the country will remain on course to achieve its target of reducing inflation and increasing…
TOBACCO farmers struggled to recapitalise after last year’s marketing season on account of the government’s requirement to convert 50 percent of their foreign currency earnings into the local currency. The Tobacco Farmers Union of Zimbabwe (ToFUZ), which represents small-holder producers is now demanding that the forex retention ratio be increased to 70 percent noting that…
THE Economist Intelligence Unit (EIU) recently published its 2020 Democracy Index Report titled, In sickness and in health?. The report has interesting insights given that it provides a snapshot of the state of democracy worldwide in 165 independent states. This covers almost the entire population of the world and most territories. The index is based…
THE hiring of equipment or intellectual property from non-resident persons is prevalent in developing countries such as Zimbabwe. The leasing option is often preferred due to technological changes and lack of the capital outlay required to make an outright purchase. Also, owners of intellectual properties usually hold out their properties for hire while retaining ownership…
THE deplorable state in which our prisons and police detention facilities are in is a cause for concern to anyone with respect for human dignity. Human rights groups led by the Zimbabwe Lawyers for Human Rights and the Law Society of Zimbabwe have in the past challenged the dehumanising conditions of police cells as being…
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