AdvertisementsTHE Livestock and Meat Advisory Council (LMAC) is urgently advocating for a structured export facility to revitalise Zimbabwe’s beef exports.Advertisements It points to significant untapped potential in international markets and a critical opportunity to rejuvenate the nation’s agricultural sector. While Zimbabwe’s once-flourishing beef export industry may be a memory, the potential to restore and restructure…
AdvertisementsIH SECURITIES (IH) predicts Caledonia Mining Corporation’s (Caledonia) revenue will reach US$176 million by the end of the fiscal year, driven by favourable gold prices. Advertisements This forecast comes as gold prices are expected to hit US$2 500 per ounce in the fourth quarter of 2024. IH notes, “Rising gold prices did not only help…
AdvertisementsRETAIL giant OK Zimbabwe Limited (OK Zimbabwe) managed to save up to US$40 000 in overall monthly distribution costs during the fiscal year ended March 31, 2024 following a major investment into its delivery fleet. Advertisements The investment is part of the group’s long-term strategy to assume control of its stock delivery value-chain and minimise…
AdvertisementsFIRST Capital Bank (First Capital) loans to customers grew 11,2 percent in the six months ended June 3, 2024 to ZWG1,3 billion (US$94,7 million) from ZWG1,2 billion (US$86,1 million) recorded on December 31, 2023 as the financial institution capitalised on credit demand in the economy. Advertisements Early this year, First Capital Bank secured an additional…
AdvertisementsZB FINANCIAL Holdings (ZB) reported total assets of ZWG9,143 billion for the half year period to June 30, 2024 which was a marginal four percent increase from prior year’s ZWG8,772 billion as the group withstood macro-economic headwinds. Advertisements Using official data from Reserve Bank of Zimbabwe’s mid-term monetary policy statement, which reported total banking sector…
AdvertisementsTHE Infrastructure and Development Bank of Zimbabwe (IDBZ) says it is exploring alternative funding sources to boost capital and enhance mandate delivery.Advertisements In the first half of 2024, the Government of Zimbabwe injected ZWL6 billion (approximately ZWG2,4 million) into IDBZ as capital support. IDBZ’s chief executive, Zondo Sakala, noted that although the institution received a…
AdvertisementsZIMBABWE saw a 30 percent growth in foreign currency reserves, including gold, to US$375 million as of June 30, 2024, from US$285 million as of April 5, 2024, the central bank has revealed.Advertisements This increase follows the Reserve Bank of Zimbabwe’s introduction of a new currency in April, the Zimbabwe Gold (ZiG), which at the…
AdvertisementsTHE Tourism Business Council of Zimbabwe (TBCZ) says the arrival of low-cost internet service providers would help reduce operating costs in the tourism sector, as high data costs remain a major challenge.Advertisements Addressing a media briefing, TBCZ president Clive Chinwada said, “So as a sector, our plea has always been around the cost of doing…
AdvertisementsShelter Afrique Development Bank (ShafDB) says it is committed to reducing risk and increasing impact through strategic collaborations with multiple banks in Zimbabwe. With the country facing a substantial housing backlog, ShafDB’s focus on affordable housing finance is crucial. In a recent interview with The Financial Gazette’s Almot Maqolo (AM), group chief business officer, Gibson…
AdvertisementsHOTEL occupancy in Victoria Falls rose by 3 percent during the recent Heroes’ and Defence Forces’ holidays, signalling a positive trend in the post-Covid-19 recovery.Advertisements This growth is particularly encouraging given the ongoing efforts to establish Victoria Falls as a world-class destination. President of the Hospitality Association of Zimbabwe (HAZ), Brian Nyakutombwa, commented on the…
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