TRADE development and investment promotion body ZimTrade says it is undertaking a market survey in Kenya to establish Zimbabwean products and services with potential in the east African country. This comes after the Zimbabwe-Kenya Joint Permanent Commission meeting held in the east African country recently, which was attended by President Emmerson Mnangagwa and his Kenyan…
THE People’s Own Savings Bank (POSB) has expanded its digital services business to capitalise on surging demand. Chief executive Admore Kandlela said the bank developed its digital services solutions to initially deal with the Covid-19 pandemic, but now seeks to leverage on them to grow revenues. “We introduced the zero-rating of digital platforms. POSB customers…
WE often hear of players in the construction industry making reference to FIDIC contracts regulating their relationships with different parties in a project — how and when they get paid and how do their scope of work is defined. This week I’m going to break down what FIDIC contracts are, how they work, and what…
BUSINESS says the best way to fight the country’s rising inflation lies in addressing structural economic challenges rather than raising interests rates. Captains of industry and commerce who spoke to The Financial Gazette this week said this was so as speculative borrowing had a “negligible impact” on the country’s renascent inflation. This comes after the…
THE three Exchange Traded Funds (ETFs) on the Zimbabwe Stock Exchange (ZSE) have all had an impressive start to the year, notching market-beating gains in the first quarter. ETFs are managed funds that track the performance of a specified security, which include, but are not limited to equity indices, commodities and currencies. The oldest of…
ZIMBABWE is reviewing its environmental policy and legislative framework to enhance its biodiversity economy. Environment and Tourism permanent secretary Munesu Munodawafa told a business meeting last week that biodiversity is under threat from various drivers including over-exploitation, land use change, pollution and invasive alien species, among other things. “A successful biodiversity economy requires a good…
GOVERNMENT says the National Development Strategy 1 (NDS1) is progressing well despite headwinds brought about by the Covid-19 pandemic and exchange rate movement. Addressing a post-Cabinet media briefing on Tuesday, ICT minister Jenfan Muswere said while NDS1 faced challenges in the first half of 2021, its performance improved during the second half of the year…
RAINBOW Tourism Group (RTG) expended $92 million on capital expenditure last year, mainly focusing on capacitating new business units as well as on basic care and maintenance of hotels. In a statement accompanying results for the year ended December 31, 2021, RTG board chairman Authur Manase said the group was tying up capital projects initiated…
DAIRIBORD Holdings (Dairibord) says its sales reached a five-year high in 2021 at 94,2 million litres, but expects moderate growth in the outlook in the wake of rising domestic and global inflation. The dairy processor’s chairman, Josphat Sachikonye, said the increase was largely driven by significant growth in the beverages segment. He said given the…
THE Zimbabwe Investment and Development Agency (ZIDA) says it is promoting agriculture and mineral value chain investment opportunities in the country through a US$250 million cotton project earmarked for Manicaland. This comes as Zimbabwe is on an industrialisation drive and wants the manufacturing sector to increase its contribution to GDP. “In the Lower Sabi west…
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