SEED CO International (Seed Co) says it is making headway in its efforts to find a solution to deal with fall armyworm and cob rot tolerant maize germplasm. Fall armyworm is a pest that has spread across Africa destroying maize crops, posing a major threat to food security. Seed Co has over the years embarked…
STANDARD Chartered Bank (StanChart) says it has fully automated service provision capabilities available to its customers and other stakeholders, improving productivity and lowering operational costs in the process.Advertisements In a statement accompanying the bank’s financial results for the half year ended June 30, 2023, chief executive, Mubaiwa Mubayiwa said the bank is committed to digitisation…
THE ministry of Environment says the newly-launched Zimbabwe Biodiversity Economy (ZBE) Report can boost revenue from identified potential investment opportunities in protected areas. The country boasts an extensive protected areas network of 27,2 percent. These areas have significantly contributed to the safeguarding of biodiversity. “Subsequently, these areas have generated revenue through nature-based tourism. Protected areas…
STANBIC Bank has reported a 572 percent rise in its inflation-adjusted half-year profit, underpinned by the surge in foreign currency-denominated transaction volumes. Together with the improved tobacco selling season, the bank’s activities kept shifting from local to foreign currencies. The bank’s profit stood at $372,9 billion during the period under review, up from $55,5 billion…
BUSINESS is behind the government’s quest to encourage the wider use of the Zimbabwe dollar in the country, and wants authorities to put in place all the necessary measures which will make this possible. Speaking to The Financial Gazette this week, captains of commerce and industry said a critical move towards achieving this key goal…
NATIONAL Building Society (NBS) says unprecedented steps taken to respond to challenges in the operating environment had a positive impact on profitability and growth. In a statement accompanying the building society’s financial statements for the year ended December 31, 2022, NBS chairman Shingai Mutumbwa noted the impact of events in the macro environment on operations.…
TRADE development and promotion body ZimTrade has expressed confidence that the horticulture sector can get back to the 1999 export record level of US$143 million driven by the emergence of new products. ZimTrade operations director Similo Nkala said horticulture had been identified as a key sector in the drive to grow exports under the national…
CBZ Bank says it is investing a total of US$60 million into agriculture this year. The bank’s managing director Lawrence Nyazema said with CBZ as one of the country’s largest financial institutions, it was important for it to provide funds for one of the critical economic sectors. “If we don’t support agriculture when we have…
EMPOWER Bank says it will increase its foreign currency income generation going forward, despite recording the first six months of 2023 as the most difficult operating period in its five-year operating history. The state-owned lender was launched in July 2018 with the primary mandate of funding marginalised youths who fail to get capital from commercial…
THE Zimbabwe Investment and Development Agency (Zida) says it witnessed an improvement in investment this year, as compared to last year, despite 2023 being an election year. In an interview with The Financial Gazette, Zida’s acting chief executive, Theresa Muchinguri said the agency has registered almost 800 foreign investors with an estimated total investment value…
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