THE Reserve Bank of Zimbabwe (RBZ) says foreign dividend payments were up by 40 percent to US$328 million in 2021, from US$234 million in 2020. Payments to foreign investors have surged since the introduction of the apex bank’s weekly currency auctions in 2020, which have been credited by a number of constituencies for improving foreign…
BINDURA Nickel Corporation (BNC) says it has begun replacing its old underground mining fleet in a bid to contain rising costs in maintaining antiquated equipment. This comes as the Kuvimba Mining Group subsidiary reported a 11 percent dip in nickel concentrate production during the nine months ended December 31, 2021. Apart from the decrease in…
ONGOING and completed capital expenditure projects by local mining companies promise to further drive earnings this year on the back of firming commodity prices on the global market. The increased investments in the mining sector come on the back of concerted efforts by the government to raise mineral receipts through policy incentives as part of…
THE business community — and especially the travel and tourism sector — is getting ever more optimistic about its prospects this year, as the threat posed by Covid-19 around the world continues to tail off. This comes as more and more countries, including Zimbabwe, have been moving away from hard lockdowns, as new coronavirus infections…
A TOTAL of 1,307 million metric tonnes of grain valued at $61 billion have so far been delivered to the Grain Marketing Board (GMB), latest official figures show. The deliveries consisted of 987 367 metric tonnes of maize, 12 113 metric tonnes of soybeans, 208 103 metric tonnes of wheat, and 99 667 metric tonnes…
THE government says it intends to establish Gold Service Centres this year in order to plug the smuggling of the yellow metal, which is touted as one of the major minerals to anchor the country’s economic growth. Addressing a post-Cabinet media briefing on Tuesday, Information minister Monica Mutsvangwa said the centres were meant to streamline…
ZIMBABWE has set its sights on aligning its investment policies with the Southern African Development Community (SADC) Investment Policy Framework, which aims to transform the region into an attractive investment…
HOUSING minister Daniel Garwe says the Urban Development Corporation (Udcorp) is in advanced discussions to access US$40 million in lines of credit from pan-African housing development financial institution, Shelter Afrique. This comes as Shelter Afrique has signed an agreement with the Zimbabwean government to hold its 41st annual general meeting (AGM) in Victoria Falls this…
GETBUCKS Microfinance Bank (GetBucks) last week said its directors have approved a recapitalisation, which the micro-lender is currently negotiating with an unnamed party. This comes as the Zimbabwe Stock Exchange-listed company had urged caution in the trading of its shares last month, saying the impending capital raise, “if successfully concluded, may have a material effect…
FUND managers Imara Asset Management (Imara) say the government must not cave in to demands to restore USD wages to September 2018 RTGS$ levels as this will fuel inflationary headwinds. In an investment note published recently, Imara chief executive John Legat said the rising prices are resulting in higher wage demands not just from the…
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