THE Covid-19 pandemic has resulted in a surge in demand for ICT services. Demand has, however, outstripped installed infrastructure. The Financial Gazette’s Staff Writer, Farai Mabeza (FM), speaks to internet access provider Dandemutande’s chief executive, Never Ncube (NN), pictured, on developments in the sector and his views on the state of connectivity in Zimbabwe. FM:…
METBANK reported an inflation adjusted profit of $113 million and a historical profit after tax of $105,3 million for the half year ended June 30, 2021, driven by a 30 percent growth in its loan book. The bank’s loan book grew by $80 million to $347,8 million during the period under review. In a statement…
ECOBANK Zimbabwe (Ecobank) says it is gearing to exploit new opportunities in the second half of the year, with inflation expected to decline further, while the economy is forecast to grow by 7,8 percent on the back of a successful agricultural season and firming international mineral prices. This comes as Zimbabwe’s annual inflation has fallen…
THERE has been a widespread outcry over Zupco’s failure to cope with the thousands of people who use public transport in Zimbabwe’s urban areas. The truth is Zupco is overwhelmed. Efforts to augment Zupco’s fleet are commendable, but more has to be done to include more players in the market and satisfy the obviously overwhelming…
DIVERSIFIED digital solutions firm, Cassava Smartech Zimbabwe has reported a 70 percent increase in revenue for the quarter ended August 31, 2021, driven by its insurtech business. In a trading update this week, Cassava board chair Sherree Shereni said the business remains focused on growing transactional volumes and improving operating efficiencies to maintain the growth…
ZECO Holdings (ZECO), gained 300 percent on the Zimbabwe Stock Exchange (ZSE) last week, marking its best weekly performance in six years. The engineering company put on 200 percent last Monday before gaining a further 100 percent on the following day to close at 0,12 cents ($0,0012). Trades in ZECO have been few and far…
READERS that have been following the price trend of Bitcoin (BTC) would know that the cryptocurrency has been gaining a lot of traction and the price is up 60,98 percent on a year-to-date basis, despite some episodes of volatility. According to Pantera Capital, a blockchain hedge fund, Bitcoin is set to reach US$115 000 given…
THE Victoria Falls Stock Exchange (VFEX), yesterday entered into an agreement with the Dubai Gold and Commodities Exchange (DGCX) to establish an international market in Zimbabwe. It comes a few weeks after Zimbabwe launched an agriculture commodities exchange, which is meant to revamp agro-produce marketing. “DGCX will extend technical support, knowledge, and skills to VFEX,…
THE price of basic commodities in Zimbabwe is approaching parity with neighbouring South Africa with some goods actually priced lower, a local research firm has said. In a research note published this week, IH Securities said the new shift towards regional price parity in the local market was likely a result of indirect price controls…
FINANCE minister Mthuli Ncube has urged the Zimbabwe Revenue Authority (Zimra) to refine its information technology platforms to improve collections. In a speech at Zimra’s fourth annual general meeting last week, the treasury boss said it was important to assess the tax authority’s performance against the maximum potential to collect revenues considering the untapped potential…
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