WEST Property (West Prop) says it is in the final stages of negotiations for the country’s first-ever regional mall, The Mall of Zimbabwe, which is expected to go to ground by mid-2024. The Victoria Falls Stock Exchange-listed firm has vowed to grow the local economy, promote the local brand, attract tourists and make Zimbabwe the…
RIOZIM says it anticipates a favourable outlook in the second half of 2023, underpinned by increased output at its Cam and Motor Mine and from its diamond operation. The diversified miner said after the successful completion and commissioning of the Biological Oxidation (BIOX) plant project at Cam & Motor Mine, the key focus in the…
THE World Health Organisation (WHO)’s local office says as much as US$163 million is lost annually in Zimbabwe due to mental health problems at the workplace. Debra Machando, WHO’s mental health specialist for Zimbabwe, said this figure came out of a study on mental health investment in Zimbabwe. “Only five percent of these costs go…
THE Nedbank Group (Nedbank) says it is optimistic about its Zimbabwe business’ prospects as it has been performing well despite the difficult economic environment. In an interview with The Financial Gazette, Nedbank chief executive Mike Brown, who was in the country this week to meet the institution’s stakeholders, said this year Zimbabwe has contributed well…
THE Insurance and Pensions Commission (Ipec) says it is optimistic that the compensation of pension fund scheme members and life insurance policyholders for losses suffered when the Zimdollar was demonetised in 2009 will help restore lost confidence in the sector. The compensation is set to begin next year, after the government laid down the framework…
THE Public Accountants and Auditors Board (PAAB) says Zimbabwe’s shortage of accountants is holding back its economic progress. The country’s reported number of accountants is about 5 000, a low per capita figure relative to developed economies. According to PAAB secretary Admire Ndurunduru, the situation is worsened by the fact that less than two percent…
THE National Social Security Authority (Nssa) says unreported occupational safety and health (OSH) incidents in the informal sector need to be brought to focus. This comes as the government’s long-standing push to regularise the sector, which provides the bulk of economic activity in the country, has so far failed to produce results. “Over the past…
BUSINESS is happy to transact using the country’s new digital currency, ZiG, although questions abound over the tokens’ ability to reduce the local demand for US dollars. This comes after the currency — backed by bars of physical gold held by the central bank, and whose full name is Zimbabwe Gold — became an approved…
HOTEL and leisure group African Sun (AfSun) has attributed a half year loss of close to US$2 million to the closure of Kingdom Hotel in Victoria Falls, coupled with challenges in the macroeconomic environment. The hotelier closed the 294-room Kingdom Hotel effective January 5, 2023, citing disagreements with the property owner, First Capital Bank (FCB),…
ZIMBABWE scored higher in this year’s Absa Africa Financial Markets Index survey, which showed continued progress across the continent despite prevailing global challenges.Advertisements The country was ranked 18th out of 28 countries after placing 19th in the 2022 edition of the survey. “Among the biggest improvements in the overall score were Zimbabwe and Rwanda, rising…
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