THE threat of the raging Israel-Hamas war sucking in the entire Middle East region poses significant risks for Zimbabwe’s economy, analysts have warned.Advertisements Speaking to The Financial Gazette this week, the analysts said the escalating conflict had the potential to further drive up oil prices, among other things, dealing a fresh blow to both the…
FIDELITY Life Assurance (Fidelity) recorded a 163 percent surge in insurance contract revenue to $4,4 billion for the half year ended June 30, 2023, buoyed by the significant growth in new policies written and an increase in US dollar-denominated business. The revenue improvement is from last year’s comparative of $1,7 billion. This comes as the…
PLAYERS in the property sector have called for the continued use of the US dollar post-2025, saying ditching the greenback so soon could destabilise the economy. This comes as President Emmerson Mnangagwa has said he aims for a return to a Zimdollar mono-currency system by the end of his current term, while legislation provides for…
CALEDONIA Mining Corporation (Caledonia) says the new positive drill findings suggest that there is more mineralisation and point to a longer life span for its flagship bullion asset, Blanket Mine.Advertisements There has been an ongoing underground drilling programme at the Blanket gold mine, which is currently targeting depth extensions to the Eroica orebody. Due to…
GENERAL Beltings (GB) says it will keep strengthening its market position in the productive sectors of the economy through expedited order conversion and prompt client delivery.Advertisements Established in 1960, the firm manufactures and distributes conveyor belts, rubber hoses, and accessories. The company also offers services such as installation, splicing, and maintenance of conveyor belts. For…
THE Zimbabwe sugar industry is facing stiff competition from cheap imports following authorities’ measures to allow duty-free imports under Statutory 80 of 2023. As a result, companies have been exporting excess stocks. Our Staff Writer, Almot Maqolo, caught up with Hippo Valley chief executive Aiden Mhere to get insights into the company’s operations. Below are…
BORDER Timbers says it has secured funding for a biomass partnership project with two unnamed tobacco companies. In a statement accompanying the company’s financials for the year ended June 30, 2023, Border Timbers’ chairman, Elias Hwenga, said 1 327 hectares (FY2022: 713 hectares) were planted, a significant improvement compared to prior year. “A total of…
A NEW dawn beacons at the tax office of the country, Zimra. The Tax and Revenue Management System (TaRMS) goes live today. TaRMS is a business re-engineering process committed to simplifying corporate operations for taxpayers’ benefit. Tax revenues are central to Zimbabwe’s national development and the attainment of the country’s vision of being a middle-income…
LAST week the financial intelligence unit (FIU) hosted an anti-money laundering and financial crime – public and private sector dialogue conference. The conference underscored the importance of public and private sector partnerships…
FBC Securities is expecting the stock market’s performance to continue to be impacted by local liquidity conditions and value preservation concerns, given existing currency dynamics. This comes as experts have warned that a lack of clarity around the government’s de-dollarisation roadmap risks damaging confidence in the Zimdollar, when the local unit is adopted as the…
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