FINANCIAL services group CBZ Holdings (CBZ) is seeking yuan-denominated credit lines from Chinese lenders as it moves to deepen the use of the currency (CNY) in growing trade with China. CBZ Bank, the group’s banking unit, began settling transactions directly in CYN in June this year, offering customers an alternative to the US dollar. As…
WEAK insurance penetration could worsen the economic impact of the expected El Niño-induced drought by increasing pressure on government’s limited fiscal space, Old Mutual Zimbabwe group chief executive Samuel Matsekete has said. Matsekete said expanding insurance coverage and strengthening climate resilience could help households and businesses absorb losses from the expected climate shocks. Forecasts point…
NEDBANK Zimbabwe’s profit after tax rose 19 percent to ZiG113,2 million in the six months ended June 30, 2026 from ZiG95,2 million a year earlier underpinned by balance sheet growth, diversified revenue and tighter cost management. Managing director Betty Murambadoro, in a statement accompanying the results, said the performance demonstrated the resilience of the bank…
ZIMBABWE’S fuel consumption rose 14,5 percent in the first half of 2026 led by diesel demand. The sustained increase in diesel consumption could point to greater utilisation of trucks, machinery and equipment in sectors such as mining, agriculture, construction and manufacturing. Combined sales of diesel and petrol reached 1,15 billion litres between January and June…
ZIMBABWE can emulate China’s land tenure system of giving value to rural land and use it to improve its own model, Finance minister Mthuli Ncube has said. The development comes…
AMALGAMATED Regional Trading Corporation (ART Corp) says it is evaluating mineral opportunities at its Mutare Estates property as it seeks to diversify revenue streams and unlock value from its assets. The diversified industrial and manufacturing firm said mineral prospects were encouraging. “The opportunities for the group to participate in mineral activities on the Estates are…
SEED Co Limited says it allocated 88 percent of its procurement spending equivalent to US$13,53 million to local suppliers in the year ended March 31, 2026. Spending on local suppliers helps support domestic businesses, retain money within the economy and strengthen local supply chains. The company said foreign suppliers accounted for the remaining 12 percent…
THE Reserve Bank of Zimbabwe (RBZ) is urging commercial banks to deploy idle funds — some of which have remained locked away for extended periods — into the lending market. The apex bank uses Non-Negotiable Certificates of Deposit (NNCDs) as a monetary policy tool to mop up excess liquidity from commercial banks, curb speculative borrowing,…
A TAX meant to widen the formal economy is instead fuelling concerns that businesses and consumers are being pushed back towards cash, as the cost of digital transactions comes under renewed scrutiny. In the 2026 national budget, Finance minister Mthuli Ncube cut the intermediated money transfer tax (IMTT) on ZiG transactions to 1,5 percent from…
PASSENGER traffic at Zimbabwe’s airports rose by 7,1 percent in the first half of 2026, driven by increased demand for domestic air travel, according to the Civil Aviation Authority of Zimbabwe (CAAZ). Airports handled 1,19 million passengers between January and June up from 1,11 million in the same period last year. Accordingly, international passengers increased…
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