STANDARD Chartered bank says it is committed to digitilisation and partnerships to reinforce the financial institution’s competitive advantage. In a statement accompanying the bank’s financial results for the half year to June 30 2022, the financial institution’s chief executive, Mubayiwa Mubayiwa, said Standard Chartered had accelerated its digital strategy to fully automate service provision capabilities…
ACCORDING to the World Bank’s 2021 Global Findex Database report, the share of adults making or receiving digital payments in developing economies grew from 35 percent in 2014 to 57 percent in 2021. While many Zimbabweans are familiar with the ability to send money from the diaspora into Zimbabwe, few are aware that it is…
THE Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, says the country’s trade in services is recovering from the Covid-19 shock, with travel, passenger transport, and other vital services beginning to trend up. In his recent mid-term monetary policy statement, the governor said services exports increased from $102,5 million in the first half of 2021…
Agriculture has been the backbone of the Zimbabwean economy for a significant amount of time now. Oddly enough, over the years it has seen considerably less investment than mining, which is the other major leg that the Zimbabwean economy stands on. In this article, I would like to draw attention to the need to invest…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-283821.mp3?cb=1732294714.mp3VALUE Added Tax (VAT) is an indirect tax on consumption, charged on the supply of taxable goods and services as well as on importation of goods and services. It is levied on transactions rather than directly on income or profit. The VAT payable is the difference between output tax and input tax. Output tax is…
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya expects both parallel market foreign currency rates and inflation to continue declining markedly in the coming weeks and months. This comes after authorities recently introduced a battery of new fiscal and monetary policies — including the introduction of gold coins as an alternative store of value and…
THE Victoria Falls Stock Exchange’s (VFEX) All Share index gained 7,72 percent to 115,4 points during the second quarter ending June 30, 2022 from 107,1 points the previous quarter, the Reserve Bank of Zimbabwe (RBZ) has said. Presenting the mid-term monetary policy recently, RBZ governor John Mangudya said during the second quarter of 2022, the…
THE Reserve Bank of Zimbabwe (RBZ) says by restricting resources available for credit growth, statutory reserve requirements continue to play a significant role in its tight monetary policy stance, which is meant to curb inflation. Central banks around the world use these reserves as an instrument to manage liquidity. A specific percentage of the qualifying…
ZIMBABWE should tap into its agriculture and horticulture potential to increase and diversify its exports to the United Arab Emirates (UAE) as total trade between the two countries hit US$1,9 billion in 2021, a senior government official has said. Trade between the two countries recorded an all-time low of US$328 million in 2017, but in…
THE Zimbabwe National Chamber of Commerce (ZNCC) says the Reserve Bank of Zimbabwe (RBZ) must prioritise foreign currency allocations to exporting firms if it is unable to review its current retention ratio, which stands at 40 percent of earnings. Under the current regulations, exporters receive 40 percent of their proceeds in the local currency converted…
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