Following on from last week’s article on the African Continental Free Trade Area (AfCFTA) opportunity for Zimbabwe, where we contend that agriculture is a strategic area for the country in as far as food production is concerned, we also highlight that one of the objectives of the AfCFTA pact is to promote industrial development through…
ZIMBABWE should use its allocation of Special Drawing Rights (SDRs) from the International Monetary Fund’s (IMF) $650 billion global rescue package to invest in capital projects and bolster its capacity to service debts, economists have said. The fund plans to distribute the package to member countries this summer, in response to the Covid-19 pandemic…
BUSINESS will stump up $230 million on Covid-19 vaccinations as it seeks to avoid disruptions similar to those previously caused by hardened lockdowns imposed by authorities to contain the spread of coronavirus. It also said it would assist the government to prevent re-imposition of a tough stay-at-home order in the event that the country is…
GB Holdings (GB)’s revenue grew by 52 percent to $334 million during the year ended December 31, 2020, driven by market share consolidation. The company is the sole manufacturer of conveyor belting in Zimbabwe and one of only two in Africa. It supplies regional markets and virtually all of the country’s requirements, with a little…
VOLATILITY on the Zimbabwe Stock Exchange (ZSE) is likely to persist during the second quarter of year, as investors are expected to keep taking positions in equities as “a currency hedge”, a research firm has said. Over the past few years, the stock market has experienced wild swings on the back of a currency crisis…
AFROCHINE, the local unit of the China-based Tsingshan Holding Group, says it has commenced works to build an iron ore mine and a carbon steel plant in Mvuma. In an interview this week, the Afrochine representative in Zimbabwe, Benson Xu Kemin, said works in Mvuma have begun following the arrival of plant equipment and machinery…
THE Tobacco Industry Marketing Board (TIMB) has appointed Meanwell Gudu, as chief executive, taking over from Andrew Matibiri. Our Staff Writer, Farai Mabeza (FM) spoke to Gudu (MG) on his vision as he takes office. Below are excerpts from the interview. FM: Congratulations on your appointment. What objectives do you wish to achieve during your…
THE Reserve Bank of Zimbabwe (RBZ) issued savings bonds worth $4,99 billion in April to mop-up excess liquidity. The bank has been escalating open market operations (OMO) by aggressively mopping-up excess liquidity through the issuance of short-term savings bonds to support its conservative monetary targeting framework. In an update, the apex bank said reserve money…
THERE has been several discussions on the African Continental Free Trade Area Agreement (AfCFTA) and what it means for African economies. Basically, the AfCFTA initiative has seen the creation of the world’s second largest free trade bloc by area and third by population and is set to spur intra-African trade while increasing the appeal of…
THE Insurance and Pensions Commission (Ipec) says Zimbabwe’s funeral and life assurers’ uptake of reassurance remains low, raising the risk of insolvency among players in the two subsectors. Ipec has for long called on the subsectors to retain less risk through reassurance with the regulator’s reports from as far back as 2015 showing that life…
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