ZIMBABWE’s sickly economy is experiencing severe fresh headwinds, triggered by spiralling production costs, soaring parallel foreign currency rates and a subdued aggregate demand as disposable incomes continue to plummet. As a result, experts warn, the country is grappling with the threat of stagflation for the second time in a decade — a situation in which…
FOREIGN investors continue to flee the Zimbabwe Stock Exchange (ZSE) by transferring their stocks to South Africa through dual-listed counters. Information gathered by this publication shows that 4 973 478 shares in Old Mutual , worth almost US$8 million, have been transferred from the ZSE to the Johannesburg Stock Exchange since the announcement of the…
BINDURA Nickel Corporation (BNC)’s shares slumped on the Zimbabwe Stock Exchange (ZSE) during the first quarter, despite a surge in the price of nickel, its primary resource. BNC, which is engaged in the mining and extraction of nickel as well as the production of nickel by-products, was one of the biggest losers on the ZSE…
ZIMBABWE is one step closer to achieving its one-stop-shop investment centre (OSIC) initiative after a Bill to expedite the process was gazetted. This comes as the southern African country, which is desperate for investment, has received numerous complaints from potential investors exasperated with the tedious process of setting up business in Zimbabwe. Parliamentary and constitutional…
THE recently-launched interbank market is not operating on a free market concept resulting in subdued trading and companies failing to access desperately-needed foreign currency, the Confederation of Zimbabwe Industries (CZI) Economists Round Table has said. This comes as the official forex market — which debuted at 1:2,5 against the United States dollar — has been…
THE National Social Security Authority (NSSA) says as many as five million Zimbabweans are threatened with old age poverty due to a social security coverage gap in the country. An International Labour Organisation (ILO) convention in 1952 set minimum standards for social security covering such areas as unemployment benefit, medical care, maternity, sickness and family…
THE Zimbabwe Revenue Authority (ZIMRA) should carry-out post clearance exercises, including inspecting goods on the market for permits and licenses, the Confederation of Zimbabwe Industries (CZI)’s Border Management Committee has recommended. This comes as the country’s fiscus is losing over RTGS$2,5 billion to smuggling of goods annually, according the latest report by the Zimbabwe National…
INNSCOR Africa Limited (Innscor) is poised to generate more revenue in the near future due to its competitive cost structure, which is based on increased production and export competitiveness, a local equities research firm has said. The listed diversified concern had recorded a 61 percent increase in revenue to $490 million in the six months…
ZIMBABWE’S foreign currency shortages are inhibiting reinsurance firms from underwriting more business in regional countries, The Financial Gazette has learnt. This comes as the country’s acute foreign currency shortages, caused by a persistent trade deficit, are threatened the viability of businesses from various sectors in the ailing economy. Stanley Kudenga, the ZimRe Holdings (ZimRe) chief…
THE Infrastructure Development Bank of Zimbabwe (IDBZ) says it is pursuing a long term capitalisation target of $1 billion to escalate investment. The state-owned financial institution, which has cumulatively raised a total of $127,3 million through the issuance of infrastructure development bonds for the past seven years, had a net asset position of $204 million…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More