GOVERNMENT has brought forward the 2022/2023 summer cropping season from August to April to address perennial challenges around food security by increasing production. Addressing a post-Cabinet media briefing on Tuesday, Information minister Monica Mutsvangwa said the agriculture sector was dogged by a number of challenges including the Covid-19 pandemic, climate change and geo-political conflicts, which…
FINANCE minister Mthuli Ncube says the government has acceded to the demands of the private sector and will make the 99-year land lease bankable. The document has so far failed to help farmers borrow from financial institutions, which have raised questions over its bankability. Ncube, however, insists that the latest revisions on the lease will…
FINANCE minister Mthuli Ncube says the government will introduce incentives to encourage industry to source raw materials locally as it bids to domesticate value chains. Ncube told a recent Daily News breakfast forum that the new measures would be contained in the next national budget. “There is one thing that I have asked the (Finance…
GETBUCKS Microfinance Bank (GetBucks) is pinning its hopes on a rights issue to raise capital to meet the regulatory minimum capital threshold of US$5 million set by the central bank. Microfinance institutions were expected to have attained a minimum capital level of US$5 million or equivalent by the end of 2021, but GetBucks’ inflation-adjusted regulatory…
GENERAL Beltings Holdings (GB) says it expects to increase its market share backed by anticipated local demand created by the ongoing Russia-Ukraine conflict, which has led to logistical constraints. The rubber manufacturer’s chairman, Godfrey Nhemachena, said the company was taking advantage of the supply chain disruptions caused by the conflict by intensifying market consolidation. “The…
AFRICAN Sun (Afsun) has obtained a court order compelling minority shareholders in Dawn Properties (Dawn), who had refused to accept its offer to buy their stock in a takeover of the company, to surrender. Following the original offer, which was floated in 2020 – and subsequent follow-ups as well as threats of legal action –…
ACTIVITY on the Victoria Falls Stock Exchange (VFEX) has continued to gain pace, with turnover increasing by 195 950 percent during the first quarter of 2022 to US$5,27 million, compared to the same period last year. It comes as the addition of three listings in the second half of 2021 – to make it four…
NMBZ Holdings (NMB) says it is winding up administrative processes related to its delisting from the London Stock Exchange (LSE), which was announced last year. The financial institution obtained shareholder approval to delist following a determination that the regulatory compliance and administrative costs incurred annually were high and outweighed any benefits derived or to be…
NEW local investment advisory firm focused on international banking and finance, Bard Santner Markets, promises to bring securitisation of assets held offshore, and open fresh lines of credit for Zimbabwe’s options starved capital market. Asset securitisation is the structured process whereby interests in loans and other receivables are packaged, underwritten, and sold in the form…
MONEY market instruments in Zimbabwe are likely to remain unviable in the short-term as the country’s inflation is seen remaining high, a wealth management firm has said. Zimbabwe’s month-on-month inflation declined from 6,99 percent in February to 6,31 percent in March, but annual inflation escalated from 66,11 percent to 72,70 percent over the same period…
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