THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), anticipates positive outcomes from recent telecom tariff hikes.Advertisements It believes the adjustments, reaching up to 100 percent in some cases, will improve operators’ revenue-to-cost ratios, leading to increased investment and better service delivery. This optimism stems from Potraz’s third-quarter sector performance report, which highlights the expected…
THE lack of a robust saving culture in Zimbabwe, according to the Treasury, is one of the major missing links in the country’s economic development.Advertisements The country’s turbulent economic history, marked by monetary policy missteps and high inflation, has eroded trust and fostered a predominantly consumerist culture. Finance minister Mthuli Ncube, acknowledging the recent decline…
ARISTON Holdings (Ariston) recorded a 34 percent decline in tea production volumes to 2 427 tonnes in the year ended September 30, 2023, owing to 20 percent of the lowest-yielding tea gardens being pruned down for the season.Advertisements The decline in tea production volume is from a prior year of 3 158 tonnes. The diversified…
FOREIGN investors’ activity on the Zimbabwe Stock Exchange (ZSE) remained heavily skewed towards selling in 2023, with a net disposal of $39 billion.Advertisements Analysts attribute this trend to unfavourable policies that have spooked foreign investors and prompted them to utilise the reserve bank’s currency auction system to move their money out of the country. Despite…
THE Zimbabwe Stock Exchange remained relatively quiet in 2023 as regulations enacted in 2022 to discourage speculation continued to bite. The All Share index closed Wednesday with year-to-date gains of about 800 percent compared to an upsurge of 4 500 percent in 2021. With the bourse having registered gains of about 100 percent in 2022,…
EDGARS Stores (Edgars)’s sales volumes have remained firm despite widespread concerns of falling demand within the economy. In a trading update for the nine months to October 8, the clothing retailer said it sold 649 788 units during the final third of the period under review — a 28,5 percent increase from the same period…
THE Institute of Chartered Accountants of Zimbabwe (Icaz) says its members are well-placed to assist non-profit organisations (NPOs) fulfil audit requirements. Icaz president Manyara Chigunduru made these remarks at the organisation’s recent inaugural NGO conference in Nyanga. “Non-profits are crucial for economies like ours due to their significant social and economic impacts. “They manage substantial…
STARAFRICA Corporation (Starafrica) says 70 percent of its revenue over the past five months was in US dollars. This comes as more companies have been reporting an increase in US dollar revenue amid persistent dollarisation pressures in the economy, which have been driven by a lack of confidence in the local unit. “So, with the…
ZIMBABWE’S economy grew by 1,3 percent during the third quarter of 2023, latest figures from ZimStat show. The national statistics agency said the main drivers of economic activity during the period were the energy sector, manufacturing and ICT. Electricity production, a key indicator of the electricity industry’s value-added, grew by 12,7 percent in the third…
THE country’s informal sector is set to expand even further as business struggles to survive the competition, a new report by the Zimbabwe National Chamber of Commerce (ZNCC) says.Advertisements The 2023 ZNCC annual state of industry and commerce report said it was therefore critical for policymakers to start viewing the informal economy as the normal…
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