finance

State of service sector improves

THE state of Zimbabwe’s services sector has steadily improved this year, with the quality of service provision in privately-run institutions outperforming State-owned entities, the 2025 State of the Service Economy Survey (SOSES) shows. According to the annual report, conducted by The Financial Gazette, ZB Financial Holdings, Tatu Advertising and Consumer Feedback Consultancy, digitalisation, improved work…

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Elephant Hills shuts down for major overhaul

ONE of the country’s leading hotels, Elephant Hills Resort, in Victoria Falls will close its doors in November 2026 for an 18-month refurbishment and rebranding programme. It would reopen in the second quarter of 2028. In a statement yesterday, African Sun Limited, the hotel’s operator, said the multimillion-dollar project would mark a significant milestone in…

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‘Financial crimes on the increase’

TREASURY says financial crimes, such as fraud, smuggling, tax evasion, illicit deals in precious stones, metals, and drugs, are on the increase, disenfranchising public coffers of much-needed revenue. This comes as the latest data from the Financial Intelligence Unit shows that Zimbabwe lost an estimated US$6,15 billion in illicit proceeds from financial crimes between 2019…

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ZiG yield curve adjustment expected

ZIMBABWE expects a new, lower yield curve for its gold-backed ZiG currency to take shape in 2026 as inflation falls sharply, with a pivotal bond-auction system scheduled to begin in January. A yield curve plots interest rates on government bonds of varying maturity, showing how short-term and long-term borrowing costs relate within an economy. Presenting…

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Zim taps into call centre business

ZIMBABWE is positioning itself to join the global boom in call centre and outsourced business services, with the government announcing a suite of tax incentives designed to lure investors into the Business and Knowledge Process Outsourcing (BKPO) sector. Presenting the 2026 national budget, Finance minister Mthuli Ncube last week said the country was “responding to…

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Govt to safeguard forex assets in mono-currency shift

THE government says all foreign currency-denominated assets will be safeguarded during the transition to a ZiG-anchored mono-currency system, allaying fears of financial losses in previous currency shifts. According to the 2026 national budget, the ministry of Finance said the transition to a mono-currency system will not impact existing foreign currency accounts, US dollar-denominated financial instruments,…

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