EMPOWERBANK is improving its technology “backbone” to augment its presence in the digital banking space. The state-owned microfinance bank’s chief executive, Shadrek Mhembere, said the institution had scaled down on brick-and-mortar branches in 2021, as it moved towards increased utilisation of digital platforms and growing the agency banking network. “In the year under review the…
CONSULTANTS working on the valuation of Zimbabwe’s biodiversity economy say the country should issue green bonds on the Zimbabwe Stock Exchange (ZSE) to raise money for environment and climate related investments. The Environment and Tourism ministry in partnership with African Wildlife Foundation commissioned a National Biodiversity Economy study last June to provide an overview of…
THE government says it is targeting to improve agro-processing value chains, which include soya bean, cotton and leather, to promote beneficiation in the sector. This comes as the government continues working to strengthen weakened value chains, especially between agriculture and manufacturing. Officiating at the Buy Zimbabwe Awards last week, Finance minister Mthuli Ncube said various…
TURNALL Holdings (Turnall) says it has lined up a number of projects in a bid to grow its business, market share and net profit. The strategy is meant to hedge the company’s earnings from the macroeconomic environment, which is characterised by foreign currency shortages, pricing distortions, high levels of inflation and costs of borrowing. The…
CHINA is set to offer a US$100 million line of credit to Zimbabwe and Rwanda for a chilli project under joint business agreements between the two African nations. In Zimbabwe, the line of credit will be offered through CBZ Bank and the Bank of Kigali in Rwanda, which are both under the chairmanship of American…
THE Zimbabwe Stock Exchange’s (ZSE) market capitalisation grew by $644 billion to $1,98 trillion during the first three months of 2022, as demand for stocks persisted. Over the past few years, the local bourse has rallied on high inflation, which rose to 72,7 percent in March from 60,74 percent in December. The ZSE benchmark All…
ZIMBABWE Revenue Authority (Zimra) has begun revamping the domestic tax and revenue system in the country in a bid to iron out operational inefficiencies. Over the years, Zimra’s e-services platform and the domestic services system have been hampered by technical glitches on the back of increasing traffic as the tax authority sought maximum use of…
THE Insurance and Pensions Commission (Ipec) is working with the industry to improve pension benefits by enhancing governance of pension funds, among other initiatives. In its latest industry report published last week, the commission said 53 percent of the complaints it received about the pensions industry in 2021 related to low pension values caused by…
A MAJOR shareholder shakeup is looming at Lafarge, as the majority owner is currently considering an offer for its stake. In a statement last week, the cement manufacturer urged caution in the trading of its securities, saying the deal could affect the value of its shares. “Shareholders and members of the investing public are advised…
IN VIEWS that are set to spark a major debate, economist Eddie Cross says it’s time authorities ditched the multi-currency system and adopted the Zim dollar as the country’s sole trading unit. In addition, Cross wants the government to further liberalise exchange controls to neutralise the forex parallel market rate (PMR) and to shore up…
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