Agriculture minister Anxious Masuka recently outlined a new mandate for the Agriculture Marketing Authority (AMA) as the government holds high expectations for the agricultural sector to anchor the country’s economic revival. The Financial Gazette’s Staff Writer Farai Mabeza (FM) spoke to AMA’s chief executive officer, Clever Isaya, (CI), on the organisation’s plans. M: In a…
ZIMBABWE’S trade deficit increased by US$75 million to US$590 million in 2020, data released by the Zimbabwe National Statistics Agency (Zimstats) shows. Total imports during the year were US$4,98 billion, up from US$4,79 billion in 2019, while exports increased to US$4,39 billion from US$4,28 billion. The southern African country has persistently recorded trade deficits since…
BANKS say they are not snubbing credit guarantees being offered by the government to lend to the private sector to mitigate the effects of Covid-19 and to back major national projects. This comes after the private sector claimed banks were rejecting the guarantees, leaving them battling to secure both infrastructural and working capital. Of late,…
ZIMBABWE’S pension funds are primed to offload much of their equity holdings this year in response to liquidity issues confronting them, a wealth management firm has said. Due to inflation and a lack of “value preserving” investment options in the country, pension funds’ portfolios have become increasingly skewed towards “illiquid” assets such as property. Imara…
NON-performing loans in Zimbabwe are set to rise as the economy contracts due to the effects of Covid-19 lockdown restrictions on business activity, a securities trading firm IH Securities says. In a note, IH said financial services would be among the sectors hardest hit by the lockdown, imposed at the beginning of January and later…
THE Old Mutual (OM) Top 10 Index Exchange Traded Fund (ETF) is now available on the Zimbabwe Stock Exchange (ZSE)’s direct access service, which allows investors to participate without manual intervention by brokers. The direct now service which was launched last September, now accounts for more than 20 percent of all trades on the local…
GOVERNMENT is putting in place elaborate plans for efficient management of the 2020/2021 crops, with a view to stem post-harvest losses amid high expectations of a good yield. In a post-Cabinet meeting press briefing, Information minister Monica Mutsvangwa revealed that the full first and second rounds of crop and livestock assessments results would be released…
IMARA Asset Management (Zimbabwe) Limited (Imara), says the dual currency system will help the economy recoup faster compared to when the Zimbabwean dollar was adopted as a sole currency of trade. A number of entities have recently adopted a dual pricing model nearly a year after President Emmerson Mnangagwa gazetted Statutory Instrument 85/20, which allows…
SEEDCO Zimbabwe (SeedCo) says it is engaging players in the sugar bean value chain to increase local production to $2,7 billion from $1,25 billion currently. Farayi Zvavamwe, the seed company’s production manager, told The Financial Gazette that support for growers through the programme, in which SeedCo is partnering a number of non-governmental organisations, will include…
THE National Social Security Authority (Nssa) says it has received 20 bids for its shares in three entities on offer as part of an investment refocus strategy. Nssa is looking for suitors to take up its 32,55 percent stake in Turnall as well as its 31,22 percent shareholding in FML. The state pension fund is…
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