TOTAL merchandise trade declined by 13,9 percent from $1,1 billion in November last year to $947,4 million in December due to a decline in stocks of both exports and imports, latest data has shown. According to the Reserve Bank of Zimbabwe (RBZ) monthly economic review for December, released last week, merchandise exports declined by 20,6…
ZIMBABWE’s year-on-year inflation rate declined to 473 percent in January from 521 percent in December last year, according to the Confederation of Zimbabwe Industries (CZI). This comes as the Reserve Bank of Zimbabwe is forecasting year-on-year inflation to come down to around 50 percent by December 2020. The country’s January month-on-month inflation was 2,23 percent…
THE American dollar’s growing use in Zimbabwe — as manifested by the government’s expanding hard currency exemptions for many sectors — lays bare the daunting challenges that authorities face as they chase market de-dollarisation, experts say. This comes as senior government officials, including President Emmerson Mnangagwa and Finance minister Mthuli Ncube, have asserted implausibly in…
LISTED agro-industrial concern, Ariston Holdings (Ariston) says the invasion of its farms has continued to hamper its progress. The company, which runs five estates across Zimbabwe, has had to contend with multiple cases of intrusion on its farms since the beginning of the fast-track land reform programme in the early 2000s. “Occurrences of disturbances on…
BINDURA Nickel Corporation (BNC) says nickel prices are expected to remain volatile in the short-term as dynamics in the global market of the base metal continue to shift. Over the past five years, the price of nickel has fluctuated between US$7 500 to US$18 500 per tonne. “In the short-term outlook period, the London Metal…
THE Institute of Chartered Accountants of Zimbabwe (ICAZ) says a number of tax challenges have emerged as a result of Zimbabwe’s recent fiscal and monetary reforms. The reforms — headlined by a controversial return of the Zimbabwe dollar — have so far failed to bring the much-needed relief to an ailing economy. Speaking at The…
LACK of tax compliance by the country’s growing informal sector has hampered domestic revenue collection, the Zimbabwe Revenue Authority (Zimra) said. Speaking at The Financial Gazette’s Annual Tax Review Breakfast, last Thursday, Zimra commissioner-general Faith Mazani said there were challenges in tapping into the revenues from the informal sector with the main one being income…
STARAFRICA Corporation (Starafrica) says intermittent water supply from the local authority weighed down production at its Goldstar Sugars Harare plant (GSSH) during the quarter ended December 2019. The plant has also been facing power supply challenges, and had to be shut down in July and August last year. “The quarter October to December 2019 ……
INSURERS say government should localise all or at least some of the insurance on national projects to support the local industry. Even though the law states that all risks that originate in Zimbabwe should be insured locally, players in the industry complain that government and companies involved in big projects are prejudicing local insurers by…
. . . as ED govt is literally between a rock and a hard place ZIMBABWE’S anti-corruption fight will always stutter, as President Emmerson Mnangagwa’s government fears a robust attack on “racketeers” will also sink Zanu PF and its leaders since the alleged offenders’ activities are intricately linked to the party’s survival, analysts say. This…
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