THE government says it will make provision in the 2027 national budget and subsequent budgets to fully activate Zimbabwe’s membership of the New Development Bank (NDB) of BRICS. This, the authorities say, is aimed at unlocking financing by meeting membership instalments as they fall due and aligning the payment schedule with the budget cycle. This…
RAINBOW Tourism Group (RTG) plans to add 209 rooms to its existing hotel portfolio over the next 12 months. This hotel expansion is anticipated to anchor its US$100 million revenue target by 2028. The hotelier has been improving efficiency across its seven Zimbabwean hotels, including its latest acquisition, Montclair Resort in Nyanga. The Financial Gazette’s…
THE Agricultural and Rural Development Advisory Services (ARDAS) has called for wider adoption of climate-smart farming practices, including scaling up conservation farming, to help farmers withstand forecast El Niño-induced dry spells. The call comes as the Meteorological Services Department and agricultural authorities have warned of an 88 percent to 94 percent probability of an El…
TIGERE Real Estate Investment Trust (REIT) says blue-chip hardware tenants are increasingly occupying retail space, driven largely by their role in the country’s construction boom. Major real estate funds are actively targeting top-tier retail brands such as Electrosales and TM Pick n Pay as stable, long-term blue-chip anchor tenants for commercial hardware and retail properties.…
THE Furniture Industry Development Initiative of Zimbabwe (FIDI Zim) will host the inaugural Zimbabwe Furniture Conference and Expo (ZFCX) in Harare next month as part of efforts to promote investment, innovation and collaboration within the country’s furniture manufacturing sector. The one-day conference and exhibition is set for the Harare International Conference Centre (HICC) on September…
ZIMBABWE has been ranked number three on a key African index for budget transparency and fiscal openness after South Africa (SA), and Benin, officials say. This comes as Finance minister…
ADOPTING green technology and sustainable practices is increasingly proving to be a cost-cutting measure while unlocking critical access to financing, industry players say. This emerged at the Annual Sustainability Breakfast Meeting held in Harare, hosted by the Institute of Sustainability in Africa in partnership with the Financial Gazette, under the theme “From Cost Centre to…
THE government plans to expand mineral exploration next year by leveraging technology to grow the country’s resource base and attract fresh investment. In his 2027 Budget Strategy, Finance minister Mthuli Ncube said the government would modernise geological data systems, undertake systematic geological mapping and surveys, and use technology to identify new mineral deposits. “Attention will…
THE Institute of Chartered Accountants of Zimbabwe (ICAZ) is aiming to raise US$50 000 for the creation of a welfare fund to provide financial support for members who fall on hard times. Speaking at the ICAZ Winter School in Victoria Falls last week, ICAZ chief executive William Mandisodza said the institute had adopted an innovative…
THE implementation of International Public Sector Accounting Standards (IPSAS) across local authorities is beginning to strengthen financial reporting, with councils submitting outstanding accounts and reducing the backlog of audits, a new audit report shows. The progress is a welcome relief for the country’s public sector, which has for years been weighed down by delayed financial…
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