INTERNATIONAL demand for commodities is likely to remain subdued in the first half of the year, equities research firm IH Securities says. In an equity strategy paper for 2023 titled: An Economy at Crossroads, IH said that supply chain disruptions were likely to persist because of the continued Russia/Ukraine war. “… demand risks are in…
NATIONAL Handling Services (NHS) says it will soon set up inland dry ports at Chirundu and Forbes border posts as part of its growth strategy. Speaking to The Financial Gazette on the sidelines of the company’s first annual general meeting, NHS board chairperson Franklin Mukarakate said the establishment of the dry ports will decongest the…
THE country’s sole national electronic funds switch and clearing house, Zimswitch, says it has helped reduce the cost of converting magnetic stripe cards to chip by developing the local Common Payment Application (CPA) and Common Payment Application Contactless Extension (CPACE) card profile in addition to collaborating with international schemes, which include the Zimswitch Mastercard EMV…
IH SECURITIES (IH), a local equities and research firm, says it expects an uptick in performance by key economic industries like mining, agriculture and construction to improve consumer disposable incomes in 2023. The economy is expected to grow by about four percent, driven by the mining, agriculture and construction industries. IH said it expects this…
BUSINESS has applauded last week’s central bank governor John Mangudya’s monetary policy statement (MPS), but wants authorities to do more to sustain the current relative economic stability in the country. The chief executive of the Zimbabwe National Chamber of Commerce (ZNCC), Chris Mugaga, was among the business leaders and economic experts who described the apex…
THE insurance and pensions industry is anxious to put to bed the compensation of thousands of policyholders who lost their savings in 2009, when the domestic currency was demonetised. Zimbabwe Insurance and Pensions Apex Council (Zipac) chairperson David Nyabadza last week told The Financial Gazette that the industry was now awaiting government direction after making…
THE Zimbabwe National Statistics Agency (ZimStat) says the blended consumer price index (CPI) is the best indicator of the country’s inflation and should be adopted as the official benchmark. Blended CPI tracks price movements in both the Zimbabwe dollar and the US dollar. ZimStat computes both blended and ZWL CPIs, but Zimbabwe uses the latter…
VAST Resources (Vast) says the High Court of Zimbabwe has ordered the release of its 129 400 carats of rough diamonds, which have been in the custody of the Reserve Bank of Zimbabwe (RBZ) since 2010. In statement last week, the company said the court had granted a default order against the country’s Mines minister…
CFI Holdings says aggregate demand for its retail products during the year ended September 30, 2022, fell following a below-normal 2021/22 agriculture season. According to a financial statement for the period, the group is therefore expected to continue relying on imports of maize and soya for the next half-year of FY2023. “The erratic rains received…
ECOCASH Holdings Zimbabwe (Ecocash) says it is focusing on growing its US dollar-denominated mobile transactions in light of the increased use of the greenback in the country. The country is currently witnessing an increased use of the US dollar for formal transactions as more people opt for it due to its relative stability compared to…
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