MANY local businesses are groaning under the weight of myriad challenges — including rising debt — a situation that was exacerbated by the negative effects of the coronavirus pandemic. This has prompted worried captains of commerce and industry to escalate their push for a bigger and more accessible stimulus package to help struggling companies get…
THE Zimbabwe Stock Exchange (ZSE) gained $338 billion in October to reach a record $1,38 trillion market capitalisation as resurgent inflationary pressures drove demand for equities. It comes as the local bourse has over the past few years rallied on inflation, with investors favouring real assets. Inflation increased for the second successive month in October…
THE Reserve Bank of Zimbabwe (RBZ) says the country’s growing balance of payments (BOP) surplus — now at US$1,7 billion — will anchor the Zim dollar (ZWL)’s stability in the medium to long-term. The BOP is the difference between all money flowing into the country in a particular period of time and the outflow of…
THE Reserve Bank of Zimbabwe (RBZ) says the country’s mineral exports are set to earn a record US$4,4 billion this year. Speaking at the launch of the State of the Mining Industry Report for 2021 in the capital last week, RBZ governor John Mangudya said the sector is the economy’s “rock”, contributing the bulk of…
DESPITE a plethora of government support programmes for agriculture, Zimbabwe’s budgetary provisions for the sector have been lower than the African Union’s Maputo Declaration target of at least 10 percent of the total annual budget for more than 10 years, a study shows. While some economic analysts have warned that current levels of support, mostly…
ZIMBABWE has adopted a new Chinese agricultural technology, which allows farmers to grow several types of nutritious mushrooms from dried, chopped grasses, without cutting down trees and damaging the environment. This comes as the country’s funding proposal was approved by the United Nations Department of Economic and Social Affairs (UNDESA). The technology, developed by Fujian…
MEIKLES Limited (Meikles) no longer intends to pursue mining activities, as the group focuses on the retention and consolidation of its investments in the supermarkets, hospitality, properties and security services segments. This comes as the Zimbabwe Stock Exchange-listed conglomerate has said it plans to unbundle and separately list Tanganda Tea Company before year-end, as part…
INNSCOR Africa (Innscor) has commenced further investment into automation at its Harare bakery unit, while a new state-of-the-art line is planned for commissioning next year at its Bulawayo unit. In a trading update for the first quarter ended September 30, 2021, Innscor Africa group chief executive, Julian Schonken, said the group will continue with its…
THE Industry and Commerce ministry is demanding that Treasury releases its outstanding 2021 budget allocation, to recapitalise the State-owned Industrial Development Corporation of Zimbabwe (IDCZ), after it received a paltry $100 million from its $1,9 billion share. IDCZ, one of the country’s biggest conglomerates with scope to manufacture over 300 different products, has interests in…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-276564.mp3?cb=1732295227.mp3THE return of the multicurrency system through reforms made in 2019 has presented increasing uncertainty in currency markets in recent times. This can be an issue, as foreign exchange movements create significant volatility for companies, not least from a tax perspective. Exchange gains and losses may be defined as profits or losses, which arise as…
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