THE lack of clarity around the government’s de-dollarisation roadmap risks damaging confidence in the Zimbabwe dollar when the local unit is adopted as the country’s sole trading currency, experts have warned.Advertisements Speaking to The Financial Gazette this week, the experts also said a return to the exclusive local use of the under pressure Zim dollar…
DAIRIBORD Holdings (Dairibord) says volumes sold in foreign currency peaked at 92 percent in July 2023, a trend that is expected to persist into the future as Zim dollar liquidity remains constrained.Advertisements Of late, the market has seen elevated demand for foreign currency coupled with a sudden decline in demand for local currency. The dairy…
COMPENSATION to pension fund scheme members and insurance policyholders for losses suffered when the Zimdollar was demonetised in 2009 is set to begin next year after the government laid down the framework last week. This comes as the insurance and pensions industry has been pushing for the finalisation of the matter amid concerns that the…
DESPITE the Covid-19 pandemic being declared officially over by the World Health Organisation, its impact on the economy continues to be felt, with the local tourism sector sending out a cry for help. Zimbabwe’s tourism was one of the worst affected sectors after global travel was restricted heavily, affecting local players’ cash flows. At the…
THE Confederation of Zimbabwe Industries has requested government assistance in the manufacturing sector to allow businesses to grow into regional markets. This comes as the government is currently running the Zimbabwe National Industrial Development Policy (ZNIDP) national blueprint for industrialisation, which pursues strategies and interventions to improve the manufacturing sector’s performance in terms of contribution…
THE Zimbabwe Energy Regulatory Authority (Zera) says the country’s diesel consumption rose by 4,66 percent to 703,15 million litres during the first eight months of 2023, while the use of petrol rose by 4,77 percent to 403,41 million litres. Zera said diesel consumption depreciated by 1,47 percent to 99,56 million litres in August, which is…
ZIMBABWE’S revenue collections for the second quarter to June 2023 were $3,2 trillion against a target of $1 trillion, official Treasury statistics show. During the period under review, the country witnessed a sharp increase in inflation following the depreciation of the local currency against the US$ on both the formal and parallel markets. “The economy…
THE GOVERNMENT says its Zimbabwe National Industrial Development Policy (ZNIDP) 2019-2023 made considerable strides in strengthening the industrial sector, addressing key challenges, and leveraging emerging opportunities. This comes as the government has launched the second phase of the blueprint – ZNIDP 2024-30. The plan pursues strategies and interventions to improve manufacturing sector performance in terms…
MAJOR South African low cost carrier FlySafair has become the latest regional airline to join the busy Johannesburg-Harare route after making its inaugural flight yesterday.Advertisements This comes as the airline launches its Johannesburg-Victoria Falls flight today, becoming the second new South African airline on the route in four months after CemAir. It will fly…
ZIMPLOW Holdings says its newly established subsidiary, Valmec, will be targeting to supply agriculture equipment to entry level commercial farmers. The diversified company launched Valmec last Friday. Speaking after the launch, Zimplow chief executive Vimbayi Nyakudya said their agriculture cluster had been focused on creating resilience owing to soft producer pricing and changes in weather…
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