BULLS have been raging on the Zimbabwe Stock Exchange (ZSE) while smart investors and traders have been smiling all the way to the bank. Thanks to the $18 billion Covid-19 stimulus package, rumours of money printing and fears of local currency depreciation! On a year-to-date basis, the ZSE market capitalisation has gained 67,5 percent in…
CABS says its income and assets declined significantly in 2019 due to the hyperinflation in Zimbabwe throughout the year. The building society’s results show that it incurred an inflation adjusted net loss of $159 million during the year, as the country’s inflation increased by more than 400 percentage points. “Inflationary pressures over the past year…
If the question what is Zimbabwe’s current legal tender was to be asked, one would be faced with huge difficulty to provide a concise response. In the past year, there has been so much tinkering with the country’s financial legal instruments to the extent that one is left wondering where we really stand going forward,…
FIRST Mutual Properties (FMP) says it will align its products with the changing requirements of the market to survive current and future uncertainties. Zimbabwe’s economic outlook remains uncertain due to various factors and the further potential adverse effects of the C ovid-19 pandemic, all of which will affect demand for various real estate products. “In…
FOLLOWING the unbundling of the Econet Group into two separate entities (Econet Wireless Zimbabwe and Cassava Smartech Zimbabwe Limited), there has been misapprehension amongst most analysts that Econet Wireless Zimbabwe might have lost its lustre. This could have been triggered by the fact that the cash-generating mobile money business (Ecocash) is now housed in Cassava…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-257665.mp3?cb=1732288825.mp3EMPLOYERS are required to ensure that all their employees are tested for the Covid-19 virus before resuming operations. Private entities are charging a minimum of US$25 for the tests. According to Statutory Instrument 99 of 2020, these are costs to be borne by the employer. Therefore, over and above monthly salaries and expenses to be…
INSTITUTIONAL investors, including the National Social Security Authority (NSSA) have taken an active role on the Zimbabwe Stock Exchange (ZSE), which has breached the $100 billion capitalisation mark — for the first time — as investors seek to hedge against inflationary pressures. The local bourse put on almost $50 billion in less than two weeks…
PADENGA Holdings (Padenga) says demand for its products has held strong and is expected to remain despite the Covid-19 pandemic. The crocodile skins producer is also anticipating to successfully address the various quality challenges that it has had in the past and is “optimistic about further growth prospects. “Demand for defect free skins remains strong…
FIRST Capital Bank (FCB) says it expects its non-funded income to decline during the second quarter of 2020 due to the coronavirus pandemic. It comes at a time banks in Zimbabwe have had to rely more on non-funded income due to hyperinflation. “Covid-19 will impact the business directly and indirectly. Due to the lock-down non-funded…
ZIMPOST says the Covid-19 pandemic has opened opportunities for it to expand its digital operations (e-commerce) in response to the ever-increasing service demands. Sifundo Moyo, the state-owned postal and courier services company’s postmaster general said it has seen a spike in e-commerce volumes lately. “Zimpost is positioning itself to ensure that we increase our presence…
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