IMARA Asset Management (Imara) says rising inflation is piling pressure on local pension funds and insurance companies as money market assets are no longer an option. In a recent note, Imara chief executive John Legat said local pension funds and insurance firms are particularly restricted because they cannot convert their ZWL cashflows into US$ for…
The Financial Gazette’s Features Editor Emmerson Njanjamangezi (EN), recently caught up with the Employers Confederation of Zimbabwe (EMCOZ) occupational safety and health (OSH) consultant, Abednego Chigwada (AC), to get insights on the country’s workplace safety standards. Chigwada is a former Zimplats OSH executive. Currently, he is the advisory director at Global Mining Sustainability and president…
THE Reserve Bank of Zimbabwe (RBZ) is reducing its quarterly reserve money growth target from 20 percent to 10 percent in response to resurgent inflationary pressures in the economy. Following a period of sustained stability in Zimbabwe, which saw inflation falling from a peak of 838 percent last July to 50 percent in August this…
CMED (Private) Limited’s subsidiary, CMED Contracting, will invest US$2 million for the purchase of construction equipment next year as it angles for growth after securing several road tenders this year. The company’s managing director, Davison Mhaka, told The Financial Gazette this week that they had already started road construction and rehabilitation in both rural and…
MANY local businesses are groaning under the weight of myriad challenges — including rising debt — a situation that was exacerbated by the negative effects of the coronavirus pandemic. This has prompted worried captains of commerce and industry to escalate their push for a bigger and more accessible stimulus package to help struggling companies get…
THE Zimbabwe Stock Exchange (ZSE) gained $338 billion in October to reach a record $1,38 trillion market capitalisation as resurgent inflationary pressures drove demand for equities. It comes as the local bourse has over the past few years rallied on inflation, with investors favouring real assets. Inflation increased for the second successive month in October…
THE Reserve Bank of Zimbabwe (RBZ) says the country’s growing balance of payments (BOP) surplus — now at US$1,7 billion — will anchor the Zim dollar (ZWL)’s stability in the medium to long-term. The BOP is the difference between all money flowing into the country in a particular period of time and the outflow of…
THE Reserve Bank of Zimbabwe (RBZ) says the country’s mineral exports are set to earn a record US$4,4 billion this year. Speaking at the launch of the State of the Mining Industry Report for 2021 in the capital last week, RBZ governor John Mangudya said the sector is the economy’s “rock”, contributing the bulk of…
DESPITE a plethora of government support programmes for agriculture, Zimbabwe’s budgetary provisions for the sector have been lower than the African Union’s Maputo Declaration target of at least 10 percent of the total annual budget for more than 10 years, a study shows. While some economic analysts have warned that current levels of support, mostly…
ZIMBABWE has adopted a new Chinese agricultural technology, which allows farmers to grow several types of nutritious mushrooms from dried, chopped grasses, without cutting down trees and damaging the environment. This comes as the country’s funding proposal was approved by the United Nations Department of Economic and Social Affairs (UNDESA). The technology, developed by Fujian…
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