THE government and Australian gas and oil exploration company, Invictus Energy (Invictus), have concluded the long-awaited consolidated Petroleum Production Sharing Agreement (PPSA) for the Cabora Bassa Basin project.This comes as Cabora Bassa has been granted National Project Status (NPS), with Invictus and Qatari investment firm Al Mansour Holdings signing a US$525 million deal to bring…
NMB Bank’s loan book grew by 18 percent to ZWG3,4 billion during the half year to June 30, 2025 from ZWG2,9 billion in the comparable period, attributed to the drive to mobilise lines of credit.The financial institution said the increase saw a significant growth in interest income compared to prior year.“Loans and advances stood at…
ZIMBABWE is set to benefit from the United Nations International Telecommunication Union (ITU)’s proposed high-capacity fibre backbone project across Africa’s 16 landlocked developing countries (LLDCs).Landlocked countries require terrestrial connections through neighbouring nations to reach submarine cables, increasing costs and complexity, while coastal countries have direct access.In its September 2025 report, released this week, ITU said…
Tariro Tumbukayi THE Infrastructure and Development Bank of Zimbabwe (IDBZ) plans to explore trade-finance based bond issuances in the second half of 2025, as part of efforts to address funding constraints in ongoing projects. The development financial institution said it will align the instruments with investor risk-return preferences. IDZB chief executive Zondo Sakala said this…
THE Reserve Bank of Zimbabwe’s recent articulation of a long-term transition to a mono-currency system by 2030 offers a commendable and much-needed vision.The strategy, which is described as ‘market-driven’ and supported by ‘targeted policy interventions,’ correctly recognises that the ZiG’s success hinges on public confidence and widespread acceptance. This is a welcome, albeit overdue, shift…
POSB recorded a net profit of ZiG187,4 million during the six months to June 30, 2025 driven by fees and commissions as well as lending income.Fees and commissions reached ZiG525,2 million from ZiG168,7 million comparable period prior year. Net interest income also grew to ZiG191 million from ZiG60 million previous year, reflecting the group’s commitment…
BY PROF NORMAN NYAZEMA ON AUGUST 25, 2025, Zimbabwe’s leading weekly business newspaper, the Financial Gazette, Fingaz, carried an article stating that PPC, the cement company, had an untapped potential in the construction industry.The company had reported in its 2025 annual report that consumption of cement per capita stood at 99 kilograms, significantly lower than…
ZB Financial Holdings has expanded its insurance services into Tanzania, marking a major milestone to its regional expansion plans.This comes after the group recently concluded investment in P&C Reinsurance (Botswana).ZB’s regional focus in insurance aims to grow its footprint and diversify revenue streams outside banking.“The group continues to scout for investment opportunities in the region…
THE government says the revitalisation of the engineering, iron and steel industry will drive industrialisation and pave the way for Zimbabwe to attain its desired middle-income society status by 2030.This follows the recent commissioning of the Dinson Iron and Steel Company, which has been hailed as a significant milestone in the country’s industrial revival.“The industry…
ZIMBABWE’S government has opened the country’s first rebranded Digital Centre in Tshelanyemba, Matabeleland South, describing it as a milestone in connecting rural communities to the digital economy.Information Communication Technology, Postal and Courier Services Minister Tatenda Mavetera said the launch signaled a shift from community information hubs to fully-fledged digital empowerment centres that would anchor growth…
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