THE government expects the recently established Land and Agricultural Development Bank of Zimbabwe (LADBZ) to be self-sustaining by the end of 2023, a Cabinet minister has said. The LADBZ was set up following a restructuring of the state-owned Agribank. It will this year receive $700 million from the national budget. The government has also said…
THE Airports Company of Zimbabwe (ACZ) is waiting for the government to gazette a statutory instrument that will spell out the separation of assets and liabilities, as the firm completes its unbundling from the Civil Aviation Authority of Zimbabwe (Caaz). The process, which started in 2018 seeks to avoid a conflict of interest and comply…
THERE appears to be consensus that global and regional growth prospects in 2021 are hinged on the pace of vaccine deployment. The World Bank estimates that in a downside scenario, global growth will be much more subdued at -1.6 percent in 2021 and 2.5 percent in 2022 if vaccine deployment is delayed and the pandemic…
THE construction sector’s offshore borrowing increased a hundredfold to US$293,8 million in 2020, from US$2,9 million in 2019, data released by the Reserve Bank of Zimbabwe (RBZ) shows. It comes as the country’s deteriorating economic environment, headlined by high inflation and currency volatility, has kept domestic lending at a minimum. The official data, which was…
ZIMBABWE is this year looking at a promising agriculture season after two consecutive years of drought. The Financial Gazette’s Staff Writer, Farai Mabeza (FM), speaks to Agriculture minister, Anxious Masuka (AM), on government preparedness and plans for the sector. Below are the excerpts of the interview. FM: Zimbabwe looks set for a good harvest this…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-269653.mp3?cb=1732295268.mp3The Telecommunications industry has been witnessing remarkable growth and transformation in the past few decades, and this trend is expected to continue in the future. The progressing business models, efficient policy changes coupled with effective implementation are the need of the hour as they play a fundamental role in the sustenance, promotion, and growth of…
AS ZIMBABWE’S economy continues to recover, industry has implored authorities to intensify policy interventions which have boosted business over the past few months. Speaking last week at the launch of the Confederation of Zimbabwe Industries’ (CZI) 2020 manufacturing sector survey report, business leaders also said it was very important that the government sustained the current…
THE Reserve Bank of Zimbabwe (RBZ) says a national collateral registry, which it is setting up to allow the securitisation of movable property, will be operational by year-end after it identified a software provider. In December last year, Finance minister Mthuli Ncube said the software procurement had been disrupted by the Covid-19 pandemic. “The bank…
THE retail industry has predicted a subdued first quarter performance this year due to disruptions caused by the Covid-19 pandemic and a reversion to the strict lockdown which curtailed business activities. This comes as economic activity in the country has begun to increase following a relaxation of the restrictions by government. At the same time,…
FOREIGN currency shortages and lack of capacity have held back independent power producers (IPPs), denying Zimbabwe an additional 7 000 megawatts (MW) at a time the country is relying on imports from South Africa and Mozambique, Parliament heard last week. Presenting a report on the state of IPPs in Zimbabwe, chairperson of the Portfolio Committee…
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