Readers may have seen some alarming news articles on various media quoting Zanu PF’s acting spokesman Patrick Chinamasa that Old Mutual Limited “will be ejected from the financial system”. The news flow demonstrates that Zimbabwe still has real issues to solve given that it has attracted confusion since the statement lacks clarity on what an…
Businesses are facing significant and unprecedented challenges caused by the Covid-19 pandemic and economic backlash. One of the main challenges is that both businesses and clients have not only fallen into debt but have defaulted on payments and are currently unable to timeously settle their debts. Bad debts or irrecoverable debts are one of the…
ZIMBABWE is shedding jobs at an unprecedented rate due to the country’s long-standing economic crisis and the devastating effects of Covid-19, experts say. This comes as the International Labour Organisation (ILO) has also warned that nearly half of the world’s workforce is at risk of losing their jobs due to the global coronavirus pandemic. The…
LOCAL investors continue to shun government securities with low yields due to rising inflation, market experts have said. A fortnight ago, the Reserve Bank of Zimbabwe (RBZ)’s plans to raise $500 million to fund Covid-19 pandemic expenditure hit a snag after it got total bids amounting to $170 million, and only allotted $70 million for…
THE fuel sector is leading Zimbabwe’s re-dollarisation charge, with ever more retailers across the country now preferring to be paid in foreign currency for their goods and services. This comes as American dollar-priced fuel is increasingly readily available — with petrol and diesel charged in the ill-fated local currency as scarce as hens’ teeth —…
THE Insurance and Pensions Commission (Ipec) is engaging authorities on the recent suspension of trading on the Zimbabwe Stock Exchange (ZSE) to protect the industry’s $60 billion exposure on the market. This comes as a regional think-tank Renaissance Capital has warned that Zimbabwe’s decision to close its stock exchange risks upending plans to start a…
…as ‘attacks’ on business typify hostile government attitude towards private capital THE ruling Zanu PF party’s blame-game antics are compromising the rule of law in Zimbabwe and driving the economy further aground by bludgeoning country perception, experts have said. It comes as government’s “anti-business policies” have intensified, with Zanu PF this week demanding that Old…
THE Zimbabwe Stock Exchange (ZSE) should partner with regional bourses to reduce foreign investor flight, a leading securities firm has said. This comes as foreign investment has remained subdued on the local stock exchange owing to government’s failure to enforce mechanisms for repatriation of funds outside the country. During the first half of 2020, foreigners…
ARISTON Holdings (Ariston) is exploring the possibility of exporting its tea to the Indian market. A trading update issued following the firm’s AGM said the global tea market remains depressed but still presented opportunities for exports. “The division is experimenting with exporting to India as their own production is under pressure, providing an opportunity for…
ZIMBABWE’S business confidence fell in the first quarter as effects of the coronavirus pandemic started being felt in the crisis-ravaged country. The Confederation of Zimbabwe Industries (CZI) said confidence continues to decline in all sectors while general business expectations have also weakened for the short-term outlook. “Business confidence in the country over the first quarter…
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