THE Zimbabwe Stock Exchange (ZSE) was the best performing securities market in Africa during the first quarter of 2021 as high inflation in the southern African country drove demand for ‘real assets’. The market gained 70,27 percent in ZWL$ terms and 64,99 percent in US$. Ghana Stock Exchange, the next best, gained 13,99 percent in…
THE government is establishing private sector-led chrome and coal processing facilities as part of the deliverables from the Mines ministry under the 100-day cycle programme. Information minister Monica Mutsvangwa told the media after this week’s Cabinet meeting that the Mines ministry would promote sustainable exploration, mining, beneficiation, value addition, marketing and management of mineral resources.…
MOST readers might have watched The Social Network, a 2010 American biographical drama film adapted from Ben Mezrich’s 2009 book The Accidental Billionaires. The film portrays the founding of social networking website Facebook and the resulting lawsuits. Since its release, The Social Network has been cited as inspiring involvement in start-ups and social media. It…
Most readers might have watched The Social Network, a 2010 American biographical drama film adapted from Ben Mezrich’s 2009 book The Accidental Billionaires. The film portrays the founding of social networking website Facebook and the resulting lawsuits. Since its release, The Social Network has been cited as inspiring involvement in start-ups and social media. It…
THE EmpowerBank’s gross lending increased by 159 percent to $61 million in 2020, driven by appetite for credit among its target customer-base, the youth. This comes as most banks have adopted a cautious approach to lending, with the average prudential liquidity ratio remaining high at around 70 percent, according to Reserve Bank of Zimbabwe (RBZ)…
Seasoned banker, Mutemwa Ushewokunze (MU), was recently appointed First Capital Bank (FCB) commercial director. Our markets editor, Kuda Chideme (KC), sat down with him to get some insight into the bank’s operations and strategies going forward. Below are excerpts of the interview: KC: What is your assessment of the state of the country’s banking sector?…
THE Zimbabwe Stock Exchange (ZSE) gained 4,53 percent in March compared to advances of 19 percent and 37 percent in February and January, as the market appeared to drift towards “normalcy”. The gains seen earlier in the year were odd coming against a backdrop of a stable currency, with previous bull runs having been fuelled…
IN A dose of further good news for the economy, Zimbabwean banks have posted swashbuckling results for the period ending December 2020 —despite massive disruptions that were brought about by the first wave of Covid-19. This is also despite a tough stay-at-home order which stretched from March 31 to October 2020 — a period that…
THE country’s three tobacco auction floors are facing a bleak future as 95 percent of the golden leaf is now being sold through the contract system. The 2021 marketing season opened trading yesterday with some estimates pointing to an even higher percentage, leaving very little crop for the auction floors. The Tobacco Industry and…
FINANCE minister Mthuli Ncube says Zimbabwe has resumed repaying debts to international financiers, following a break brought about by recurrent natural disasters over the past three years. Zimbabwe’s failure to clear its debts has made it near-impossible for the country to access fresh loans from international financial institutions, at a time the country is in…
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