ZIMBABWE’S broad money supply increased by nine percent to $331 billion in July, latest statistics from the Reserve Bank of Zimbabwe show. Broad money, which is also known as M3, is a measure of the entire stock of money in an economy, including foreign currency deposits. In its monthly economic report for July published last…
FIRST Mutual Properties (FMP) says it is scouting for opportunities to improve the performance of its portfolio, and sustainably manage expenses to shield its businesses from future Covid-19 disruptions. In a statement accompanying results for the half-year ended June 30, 2021, the company’s board chairman, Elisha Moyo, said the period was characterised by challenges that…
STATE-owned mobile network operator, NetOne, anticipates its revenue to more than double from $5,9 billion in 2020 following a major upgrade to its network. NetOne is undertaking the US$71 million China Exim Bank-funded project to modernise its broadband infrastructure in partnership with Huawei. “We have …witnessed significant revenue growth and are targeting $16 billion for…
AFRICAN governments have been urged to strengthen their debt framework and increase transparency to avoid an unsustainable debt crisis in the wake of the Covid-19 pandemic, which has left many…
BUSINESS and monetary authorities agree on the urgent need to refine the foreign currency auction system, to stem the growing threat to the economy of the resurgent forex parallel market. This comes as the auction system has been widely credited with stabilising Zimbabwe’s economy and its once derided local currency since its introduction in June…
THE principles of the Electronic Transactions and Electronic Commerce Bill, which seeks to regulate electronic transactions and mitigate cybercrime in the face of increasing digitisation of the economy, was given Cabinet approval this week. The approval comes amid growing concern to attune the country’s legal framework to technological changes by addressing the current deficiencies in…
THE majority of Zimbabwean farmers are uninsured, posing a serious threat to the sector in the face of prevalent insurable risks.
A UNITED States dollar (US$) government bond would be a welcome development for Zimbabwe’s capital market, which is starved of options, analysts say. It comes as Finance minister Mthuli Ncube, pictured, has said Treasury plans to raise as much as US$200 million through a bond on the Victoria Falls Stock Exchange (VFEX). “In the advent…
INFRASTRUCTURE Development Bank of Zimbabwe (IDBZ) has shelved Plumtree’s Tjibundule Energy (15 Megawatt MW) and Gwayi (30 MW) solar projects due to inadequate transmission and distribution infrastructure. In a statement accompanying the bank’s half year results to June 31, 2021, chief executive Zondo Sakala said the bank was seeking new suitable sites. “The bank has…
THE Competition and Tariff Commission (CTC) says the pending agreement on tariff modalities for critical sectors like textiles and clothing, fish and motor vehicles by member countries on the African Continental Free Trade Area (AfCFTA), is delaying operationalisation of the new platform. For trade to happen under AfCFTA, in addition to ratification, a country needs…
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