THE Ministry of Finance says the Mukuru Wallet will bridge the gap in financial inclusion in the country for underserved rural populations, including women, youth, and people with disabilities.Speaking at the launch in Harare, Deputy Minister of Finance Kudakwashe Mnangagwa said the rollout of the Mukuru Wallet is an opportunity due to the significant impact…
ZIMBABWE should focus on enhancing competitiveness and implementing robust domestic policy reforms to capitalise on BRICS membership, analysts have said.Last week, the country officially submitted its application to join BRICS. Zimbabwe National Chamber of Commerce (ZNCC) chief executive Chris Mugaga said a conducive policy environment is the key to attracting capital inflows and fostering economic…
. . . criticises exchange rate enforcementTHE Confederation of Zimbabwe Industries (CZI) has raised concerns over the rising annual US dollar inflation, emphasising the urgent need for stabilisation measures.The industry body pointed out the enforcement of the exchange rate regime by the Financial Intelligence Unit (FIU), citing it as a key driver of inflationary pressures.The…
ZIMBABWE’s platinum output reached an all-time high of 512 000 ounces in 2024, a one percent increase from 507 000 ounces recorded in the previous year, data from the World Platinum Investment Council (WPIC) indicates.In its quarterly global production report, the WPIC said the record production was achieved despite a temporary reduction in output from…
THE country’s quest to de-dollarise faces many hurdles due to continuing policy inconsistencies and the absence of fundamental economic reforms, experts warn.Speaking to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — the experts said this week that an effective de-dollarisation roadmap required a carefully planned…
THE government says it plans to expand Zimbabwe’s irrigated land by approximately 128 percent, aiming to strengthen agricultural output and combat the escalating challenges of climate change.The First Round Crop, Livestock and Fisheries Assessment Report reveals a target to more than double the existing capacity of irrigation from the current 217 000 hectares to 496…
THE African Development Bank (AfDB) forecasts economic growth of 5,3 percent for Zimbabwe this year, marking a significant recovery from the adverse effects of a severe drought in 2024.The pan-African lender’s projections are slightly lower than the government and the International Monetary Fund’s forecasts of a six percent growth.Economic growth in the southern African nation…
THE Ministry of Environment says Zimbabwe requires approximately US$10,31 billion to implement its climate adaptation actions between 2023 and 2030.The funding gap underscores the urgency of securing substantial funding to mitigate the impacts of climate change and transition to a more sustainable economy.According to Zimbabwe’s Nationally Determined Contribution (NDC3.0) Country Statement, US$4,77 billion is required…
THE Reserve Bank of Zimbabwe (RBZ) says the collateral registry system recorded 2 481 active registrations with a total principal value of ZiG42,19 billion as of December 31, 2024.The central bank said microfinance institutions emerged as the dominant users of the registry, accounting for 1 185 registrations, followed closely by banks with 1 135 entries.“In…
THE Reserve Bank of Zimbabwe (RBZ) says it injected about US$35 million into the interbank foreign exchange market last month to meet the growing demand for hard currency.The central bank has previously said its participation in the interbank market has helped to complement the supply of foreign currency by authorised dealers to meet demand by…
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