ZIMBABWE’S national herd increased marginally to 5,6 million in 2020 from 5,4 million the previous year, according to a report by the agricultural ministry. Permanent secretary in the Agriculture ministry, John Bhasera, revealed the figures during a field day at the Rattary Arnold Research Institute last week, but stressed that there was need to improve…
DELTA Corporation (Delta) has overtaken CBZ Holdings (CBZ) as the most valuable company on the Zimbabwe Stock Exchange (ZSE) after gaining more than 90 percent this year. In comparison, CBZ has lost 17 percent and is among only five counters in the red this year. The financial services group had surged to the top in…
THE Reserve Bank of Zimbabwe (RBZ) this week said it plans to introduce a lending facility for small and medium size enterprises (SMEs). The bank has also been working on a national collateral registry to allow borrowing without the need of immovable property, which is expected to be a “gamechanger” for SMEs. “The Monetary Policy…
EQUITIES firm, IH Securities Zimbabwe (IH) is forecasting Axia Corporation’s (Axia) revenue to grow by 378 percent for the year to June 2021, spurred by increased consumer demand. The firm said it expects a “drastic recovery in consumer spend” going into the company’s fourth quarter – beginning in April – driven by the grain selling…
CALEDONIA Mining Corporation – operators of gold producer Blanket Mine – has reported a 30 percent increase in full year revenue to US$100 million after achieving record output in 2020. The mine reported annual production of 57 899 ounces of gold compared to the 55 182 ounces produced in 2019. In a statement accompanying financial…
THE Reserve Bank of Zimbabwe (RBZ) says it has sterilised an additional $1,99 billion of excess liquidity through open market operations (OMO). Last month, the apex bank’s governor, John Mangudya said $14,1 billion had been mopped-up through OMO between October and December 2020, which aided containment of money supply below set targets. In a recent…
AN important aspect in forecasting inflation trends is assessing the impact of temporary price shocks. The expectations-augmented Phillips curve shows that inflation depends on inflation expectations, the gap between output and its natural level (output gap) and temporary price shocks. While inflation expectations and the output gap may be key drivers of inflation, they do…
EXPERTS have implored authorities to keep a beady eye on parallel foreign currency activities so that they do not jeopardise the recovery of Zimbabwe’s economy. Speaking to The Financial Gazette this week, the experts said the last thing the country needed now was to see a disruption of its foreign currency auction system — which…
MONEY market investments are likely to deliver the least returns of all asset classes in Zimbabwe this year, as short-term rates are expected to continue to lag behind inflation, a local research firm has said. Rates for 30 to 180-day instruments have been ranging between 20 and 25 percent per annum, whereas year-on-year inflation was…
GRAIN Marketing Board (GMB) managing director Rockie Mutenha (RM), recently said the parastatal was carrying out maintenance works on silos and was ready to start receiving grain from farmers. This comes as 1,8 million metric tonnes of maize are expected to be delivered to GMB. This week, he spoke to The Financial Gazette’s Group Digital…
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