ZIMBABWE’S foreign currency receipts increased from US$6,3 billion in 2020 to US$9,7 billion last year, the highest ever on the country’s books, the Reserve Bank of Zimbabwe (RBZ) has said. In a Monetary Policy Statement this week, the RBZ governor John Mangudya, said of the US$9,7 billion, US$6,2 billion was from export proceeds. “The country…
RIOZIM says its Biological Oxidation (BIOX) plant project at Cam & Motor Mine is almost complete, with commissioning scheduled for early this year. In an interview this week, Manit Shah, the Zimbabwe Stock Exchange-listed miner’s chief executive, said all is set for the commissioning. “We are just about to commission our massive BIOX plant in…
THE total value of shares traded on the Zimbabwe Stock Exchange (ZSE) was down 77 percent in January to $4 billion, as the market slowed on a “wait-and-see” attitude typically assumed by most investors at the beginning of the year. This was despite a $110 billion bump in market capitalisation to $1,45 trillion driven by…
THE Zimbabwe Stock Exchange (ZSE) says it is striving to bring Real Estate Investment Trusts (REITs) on board to diversify its product offerings and provide liquidity to the real estate market. ZSE board chairman Caroline Sandura last week said incentives introduced by the government were helping the bourse to grow and there was scope to…
THE Reserve bank of Zimbabwe (RBZ) says cumulative disbursements under its Medium-Term Bank Accommodation (MBA) facility stood at $7,5 billion for 2021, while the outstanding allotments are at $3,9 billion. In order to encourage domestic production, RBZ governor John Mangudya said the central bank maintained the Medium-Term Bank Accommodation Facility, which was introduced in November…
ZIMBABWE’S largest sugar producer, Hippo Valley Estate (Hippo), is planning for an early milling season in April, with the long-term goal of gradually repositioning the crop to prevent the disruptive impact of harvesting during wet spells in December. In a trading update for the third quarter ending December 31, 2021, Hippo said the early milling…
NEWLY-relisted diversified agro-based business, Tanganda Tea Company (Tanganda), says it plans to expand its retail business by putting greater focus on packaging tea products rather than bulk sales. The company which has tea, macadamia, avocado and coffee plantations in Chipinge district and runs a blending and packaging plant in Mutare, was relisted on the Zimbabwe…
BIGAMY occurs when a person marries another person while they are still married. To avoid bigamy, simply do not marry another partner while your current marriage subsists. Sounds simple enough as far as definitions go but with matters of the heart, things are seldom that easy. The situation is confused even further when commonly accepted…
THE Reserve Bank of Zimbabwe (RBZ) is sticking to its stance against cryptocurrencies as a form of legal tender in the country, with governor John Mangudya announcing this week that Harare is pushing ahead instead, with plans to introduce a central bank digital currency (CBDC). With cryptocurrency having risen in prominence over the past few…
THE Confederation of Zimbabwe Industries (CZI) has said the projected inflation targets of between 25 and 35 percent by year-end are achievable, if market-oriented policies and strategies to control the exchange rate and money supply growth are adopted. The country’s largest business member organisation by subscribers said the government must stop relying more on statutory…
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