Advertisements MARKETS are anxiously awaiting the release of the Reserve Bank of Zimbabwe’s (RBZ) impending monetary policy statement (MPS), amid the escalating currency and inflation crisis. This comes as the Zim dollar continues to slump on both the official and parallel markets — raising serious concerns about the country’s economic growth prospects this year, while…
AdvertisementsTHE Zimbabwe Construction Industry Association has expressed optimism that the sector’s growth in 2024 will surpass that of the previous year. In an interview with The Financial Gazette, the association’s president, Tsitsi Dzvukamanja, expressed hope that the government will address several issues that the industry has raised over the past few years.Advertisements “The construction industry…
AdvertisementsFITCH Solutions warns that Zimbabwe’s persistent currency volatility poses a significant threat to banks’ asset quality in 2024. The risk stems from the inflationary impact on borrowers’ ability to service their debts, potentially leading to an increase in non-performing loans (NPLs). “Currency weakness directly impacts a large portion of the loan book, as foreign currency…
AdvertisementsTHE Zimbabwe National Statistics Agency (ZimStat) says 86,8 percent of employed individuals worked in the informal economy during the fourth quarter of 2023. This underscores the growing role of the sector amidst ongoing economic pressures, as highlighted in the Zimbabwe National Chamber of Commerce (ZNCC) 2023 State of the Industry and Commerce report, which projects…
AdvertisementsTANGANDA Tea Company (Tanganda) says packed tea exports into the region grew by 100 percent during the quarter ended December 31, 2023 attributed to the company’s successful penetration of the Democratic Republic of Congo market. The diversified group said the implementation of diversification of regional markets for packed teas as a growth strategy has begun…
AdvertisementsBRICK manufacturer Willdale the brick has expressed concern over the immediate impact of the imposition of value-added tax (VAT) on clay bricks. Advertisements This comes in the wake of a slew of new government taxes, fees, and levies that took effect at the beginning of the year, causing a surge in prices for a wide…
AdvertisementsEDGARS Stores’ (Edgars) share price was up by 14,7 percent last Friday following the retailer’s announcement of its intention to delist from the Zimbabwe Stock Exchange (ZSE) and relist on the US dollar-denominated Victoria Falls Stock Exchange (VFEX). The surge represents the most significant single-day gain for Edgars in over six months. The company’s proposed…
AdvertisementsSTARAFRICA Corporation (StarAfrica) says its going concern was momentarily hampered by the spike in pricing by the company’s sole supplier of raw sugar but rectified the situation by securing a new supplier. In February 2023, Gold Star, a StarAfrica affiliate, placed staff on indefinite leave and temporarily shuttered its refinery in Harare in protest of…
AdvertisementsTHE CEO Africa Roundtable has highlighted the need for rectification of the complex monetary system in Zimbabwe to facilitate the opening of the credit market and provision of long-term funding. Chairman of the roundtable, Oswell Binha, urged authorities to provide leadership in shaping the desired economic future. “We believe that efficient and sustainable economic growth…
AdvertisementsFASTJET Zimbabwe this week launched its “Amazing Zimbabwe” marketing campaign, which focuses on promoting the lesser-known attractions of the country.Advertisements According to the airline, the “Amazing Zimbabwe” tagline aligns with four core themes intended to represent the nation comprehensively: Rich Traditions, Splendid Heritage, Iconic Sites, and Great People. Fastjet spokesperson Nunurai Ndawana emphasised the campaign’s…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More