ONE important discussion topic during the 43rd Organisation of Eastern and Southern Africa Insurers Conference was titled, “Micro-insurance and financial inclusion: Adoption of Innovation, Technology and Digitisation of Insurance Business Operations beyond Covid”. The paper was presented by Sibongile Siwela, director for Insurance & Micro Insurance at the Insurance and Pensions Commission of Zimbabwe (Ipec).…
A LOCAL equities firm is betting on stocks in sectors positioned to benefit most from Zimbabwe’s US$1 billion International Monetary Fund (IMF) stimulus package to continue to rise despite a general slowdown on the local bourse. With demand for stocks diminishing amid sustained stability in the economy, the Zimbabwe Stock Exchange (ZSE) lost 2,83 percent…
BUSINESS has warned that the country’s worsening power cuts, which are blamed on inadequate generation capacity and ageing infrastructure, threaten Zimbabwe’s economic recovery and rising industrial capacity utilisation. Speaking to The Financial Gazette this week, concerned captains of industry and commerce said the debilitating power disruptions were seriously affecting production at a time that the…
THE 15th edition of the Sanganai/Hlanganani-World Tourism Expo will be held virtually from October 27-29, 2021. Zimbabwe Tourism Authority acting chief executive, Givemore Chidzidzi, told a press conference yesterday that recruitment of exhibitors for this year’s edition had commenced, with new participants anticipated at this year’s event. “We switched to virtual expos last year due…
A GLOBAL think-tank has forecast that the Reserve Bank of Zimbabwe (RBZ) will make a series of rate cuts from next year, as inflation is seen moderating further. The central bank has over the past 12 months kept the accommodation rate — the interest at which depository institutions lend or borrow funds among themselves —…
ZIMBABWEAN banks say the government must speed up plans to pay its debts to creditors and normalise relations with the international community, to reduce the country’s high-risk perception. The southern African nation, which remains shut out by financiers because of its failure to pay previous debts, is on a re-engagement drive, albeit at a slow…
THE government wants to ensure the utilisation of local resources in the pharmaceutical value chain to reduce over-reliance on imports and create employment. According to Industry and Commerce minister Sekai Nzenza, one of the greatest challenges was that the sector was hugely dependent on imported active ingredients. “So, going forward we want to ascertain how…
Empower Bank says it had to increase its provision for impairment losses by 649 percent during the half year to June 30, 2021 after the deterioration of its loan book, due to the Covid-19 pandemic. Chief executive Shadreck Mhembere said the bank’s client base — small businesses and the youth — were among the worst…
A DERIVATIVES market for tobacco could soon be set up in Zimbabwe after the industry’s marketing board last week entered into an agreement with the Zimbabwe Stock Exchange (ZSE) and Victoria Falls Stock Exchange (VFEX) to collaborate on innovation in marketing the golden leaf. A derivative is a contract between two or more parties whose…
HIPPO Valley (Hippo) is exploring opportunities to install solar energy generation plants on its estates to ensure uninterrupted power supply for its cane irrigation during peak growing periods. In a statement accompanying financial results for the year to March 31, 2021, Hippo’s chief executive, Aiden Mhere, said power challenges have of late negatively affected irrigation…
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