AUTHORITIES are ramping up efforts to further stabilise and grow the economy by implementing a raft of new measures aimed at stimulating investments, including the ease-of-doing business climate in the country. Speaking to The Financial Gazette this week, the chief executive of the Zimbabwe Investment Development Agency (Zida), Douglas Munatsi, said authorities were determined “to…
FROM a global perspective, many factors have played a role in shaping the outcomes of the pandemic including how early the outbreak happened, the readiness to respond, the need for lockdowns and the degree of economic support provided to the economy through fiscal and monetary interventions. The good news is that the pace of vaccination…
THE Zimbabwe Stock Exchange’s (ZSE) market capitalisation grew by $55 billion in July to close at a record $819 billion as the local bourse’s rally continued, driven by high inflation. The benchmark All Share Index extended its year-to-date gains to 159 percent after putting on 9,3 percent during the month to end at 6 818,29…
BUSINESS says the upgrade of the country’s road infrastructure and modernisation of Beitbridge Border Post will restore Zimbabwe’s regional competitiveness in the cargo transit sector. Speaking at the Shipping and Forwarding Agents Association of Zimbabwe (SFAAZ) 15th annual conference last week, chairperson Godfrey Muswere said the developments came at an opportune time. Muswere said the…
FINANCE minister Mthuli Ncube says banks in Zimbabwe maintained a cautious lending approach during the first quarter of 2021, continuing with a stance adopted last year amid high inflation. In his mid-term budget review last week, Ncube said even though the sector’s loans-to-deposits ratio had increased to 43,53 percent by March from 39,5 percent at…
FINANCE minister Mthuli Ncube says the persistently low compliance with prescribed asset investments among insurers and pension funds is due to liquidity challenges in the industry. According to the industry regulator — Insurance and Pensions Commission (Ipec) — only short-term reinsurance players collectively managed to meet their minimum required threshold of 10 percent during the…
GWERU businessman and property developer, Tinashe Manzungu (TM), was earlier this month re-elected as the president of the Zimbabwe National Chamber of Commerce (ZNCC). Manzungu spoke to The Financial Gazette’s Staff Writer, Farai Mabeza (FM). He highlighted that the business chamber had made huge strides preparing its members for the recently launched African Continental Free…
RESERVE Bank of Zimbabwe deputy governor Jesimen Chipika says the country is receiving an average of US$100 million in diaspora remittances every month. Last year, diaspora inflows reached US$1 billion compared to US$636 million in 2019. The figures show only the official flows that come through registered formal money-transfer and banking channels. The surge in…
THE Zimbabwe Stock Exchange (ZSE) is engaging Old Mutual and PPC with a view to have their listings moved to the Victoria Falls Stock Exchange (VFEX). Fungibility of the two counters on the ZSE was suspended in July 2019 by the government, which claimed speculation involving the counters was driving up inflation. This was followed…
OK Zimbabwe Limited (OK) recently issued a trading update for the three months ended June 30, 2021. Management highlighted in the release that while the business environment for the quarter continued to be characterised by Covid-19 induced restrictions, there were less severe compared to the same period in the prior year. In addition, product supply…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More