CLOTHING retailer, Truworths says it will focus on productive cost rationalisation and working capital management as its volumes are currently under threat owing to the suspension of the local currency and limited US dollar credit. The company suspended its ZW$ credit sales on 1 July 2022 due to high interest rates which were hiked by…
THE Zimbabwe Stock Exchange (ZSE) is unlikely to see the same level of interest for listings this year that it did in 2022 due to its recent slump in trading activity, analysts say. The market last year added four Exchange Traded Funds (ETFs), as well as a Real Estate Investment Trust (REIT). Before the government…
AFRICAN Distillers (Afdis) says its spirits category grew by 19 percent benefitting from a focus on the affordable market segment, as the business seeks to regain share from cheaper and illicit products. In a trading update for the third quarter ended December 31, 2022, the wine and spirits maker reported overall volume growth of 10…
IN last week’s article, I discussed the importance of estate planning and the importance of engaging a legal practitioner to navigate all the issues connected with optimizing the administration of one’s assets. This week, I will expand the conversation by looking at questions that are frequently asked by clients as well as the duties of…
THE Infrastructure Development Bank of Zimbabwe (IDBZ) says it is this year working with relevant government ministries to issue US$25 million for financing both new and current irrigation infrastructure. IDBZ manager for infrastructure projects, Alex Mashonganyika, said the bonds would make up the bank’s intervention in the irrigation infrastructure space for the year. “We are…
ZIMBABWE has set a new target to produce 109 million litres of milk this year after surpassing last year’s target of 90 million litres. According to an Agriculture ministry official Addmore Waniwa, the country recorded increased herd growth and improved on-farm feed production, which saw production going up by15 percent to 91,31 million litres in…
THE Zimbabwe Economics Society (Zes) says the government should put in place measures that promote foreign remittance inflows. Diaspora cash remittances are a vital source of foreign currency liquidity for the country’s and an important source of household incomes. “It is quite evident that remittances are playing an important role in reducing the liquidity constraints…
IT HAS emerged that ZB Financial Holdings (ZBFH) is among the leading bidders for Standard Chartered Bank Zimbabwe (Stanchart), with discussions between the two parties believed to be now at the level of the evaluation of the former’s offer. This comes as sources have told The Financial Gazette that ZBFH also approached Standard Chartered Bank…
THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) says it has made an application with the Zimbabwe Energy Regulatory Authority (Zera) for another power tariff review. It comes as the state power utility has had to increase imports due to decreased domestic generation capacity. “Let me say that we have made an application to Zera,…
ZIMBABWE Association of Micro Finance Institutions (Zamfi) says the central bank needs to speedily implement the collateral registry system to improve credit access for small businesses. The system, which allows for the securitisation of movable property, has been in the making since 2017 and is part of the central bank’s financial inclusion agenda. The Collateral…
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