THE Insurance and Pensions Commission (Ipec) says the book value of pension funds’ asset base doubled in real terms during the 12 months to June 30, 2021, after refinements to valuation models, which had been wrecked by Zimbabwe’s currency changes in 2019. In June 2019, the southern African country reintroduced its own currency after a…
THE cabinet has approved the Labour Amendment Bill of 2021, which seeks to align the constitution to international best labour practices and to promote the ease of doing business in the labour market. Information minister Monica Mutsvangwa told journalists after this week’s cabinet meeting that the bill seeks to entrench fair labour standards contemplated in…
FOREIGN currency-denominated insurance has gained popularity in Zimbabwe, amid high inflation, with US$ policies accounting for close to half of the business on short-term insurers books as at June 30, 2021, regulator statistics show. Following a ban on the use of foreign currencies in domestic transactions in 2019, insurers were given an exemption starting November…
THE government says it will come up with measures for financial institutions to bankroll farmers without demanding collateral, which had become an albatross to industrialisation of the sector since the country’s agrarian reforms of two decades ago. The authorities announced this week that they would be coming up with various non-collateral financial models to finance…
SOUTH African Airways (SAA) is eager to re-launch daily flights between Johannesburg and Victoria Falls in the first quarter of 2022, as activity in the resort town continues to grow in the wake of subsiding Covid-19 infections. The airline, which ran into business rescue in 2019 and suspended all commercial, cargo, and repatriation flights for…
I HAVE been dealing with an ecclesiastical dispute of late that got me thinking about how the law relates to matters involving churches and how they worship on one hand, and traditional leaders and how they are appointed on the other. The common thread between the two is that the facts in such cases are…
ZB Financial Holdings (ZB) recorded a 29,8 percent decline in total income to $2,9 billion during the half-year to June 30, 2021 from $4,1 billion for the corresponding period to June 30, 2020. The diversified financial services group’s chief executive, Sherpard Fungura, said the decline in revenue performance was mainly underpinned by a decrease in…
NATIONAL Building Society (NBS) says its three housing projects ― Dzivarasekwa, Newmara and Knockmalloch ― are progressing well and set to deliver a cumulative 704 housing units by year end. In a statement accompanying the institution’s results for the half-year ended June 30, 2021, board chairperson Shingirai Matumbwa said the housing projects were progressing well…
ANALYSTS are betting on activity to increase within Zimbabwe’s property market in the short-term due to a slowdown on the Zimbabwe Stock Exchange (ZSE) lately. The ZSE lost 2,83 percent in August, its worst performance in nine months, as demand for stocks continues to diminish amid sustained stability in the economy. Over the past few…
FIRST Mutual Holdings (FMH) has expressed confidence in the country’s medium-term economic prospects, despite posting an inflation adjusted half-year loss of $1 billion. In its consolidated group financial results for the six months ended June 30, 2021, FMH last week said the loss was mainly due to fair value loss on investment property and higher…
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