A SENIOR government official says Zimbabwe must adopt a circular economy, which involves the recycling of waste to promote a sustainable environment management system. Environment ministry chief director for Environment, Climate and Meteorology, Prosper Matondi, recently told an Environmental Management Agency (EMA) 2022 strategic planning review workshop that a circular economy was well-suited for both…
INVESTMENT group, Platinum Groupe (Platinum), has won a European award from Capital Finance International (CFI) in recognition of its deal making exploits in Zimbabwe and abroad. Other notable winners under the prestigious awards, include global real estate investor Blue Rock, South African banking group Absa’s Seychelles wing, ING Bank, computer maker IBM, beverages maker PepsiCo,…
GENERAL Beltings Holdings (GB) expects its rubber division to continue to grow with the improvements in raw materials availability, due to an ongoing return to normalcy in supply channels, as authorities around the world have been lifting Covid-19 restrictions. The company saw volumes for the chemicals and rubber division growing 31 percent and 48 percent,…
IT was recently reported that a popular Zambian journalist was found with US$4 million in her house, whose origins she could not explain. It was presumed that the funds were the proceeds of crime as their source could not be justified. It was also reported that she forfeited the upmarket house at which the cash…
IMARA Asset Management (Imara) says rising inflation is piling pressure on local pension funds and insurance companies as money market assets are no longer an option. In a recent note, Imara chief executive John Legat said local pension funds and insurance firms are particularly restricted because they cannot convert their ZWL cashflows into US$ 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…
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