ACCORDING to the African Corporate Governance Network (ACGN), most African countries (including Zimbabwe) have also not escaped the drive in the world for greater transparency and accountability. Generally, Africa is catching up fast despite being viewed as one of the last frontiers of economic development. Today’s companies exist in the information age and company financial…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-256925.mp3?cb=1732288825.mp3THE Covid-19 pandemic has caused several disturbances and serious disruption to business, not mentioning its impact on people’s lives throughout the globe. There are several measures some countries including Zimbabwe have undertaken in order to reduce its impact on people and business. What appears missing for Zimbabwe is the most immediate and critical government intervention…
A CLEAR and scientific method was needed to quantify, and come up with Zimbabwe’s $18 billion stimulus package, which also lacks a criteria for identifying potential beneficiaries, the Zimbabwe Coalition on Debt and Development (Zimcodd) says. This comes as several other commentators have said Harare “must do a bit of quantitative easing to directly…
TRUWORTHS says it is refocusing its business towards cash sales amid signs that the inflationary environment in Zimbabwe will remain for the foreseeable future. The country’s annual inflation rate hit a 10-year high of 647 percent in March — a situation which has been driven by its monetary imbalances headlined by foreign currency shortages. “The…
LISTED crocodile skin producer, Padenga Holdings (Padenga), says it has completed a feasibility study into diversifying its operations to include Avocado and Macadamia farming, as it seeks to widen income streams. In a commentary to financial results for the year ended December 31, 2019, the firm said production was likely to commence next year. “The…
STANDARD Chartered Bank Zimbabwe (StanChart) says it recorded a $134 million loss in the financial year to December 2019 due to the country’s hyperinflationary environment. This was after the southern African country’s inflation had surged from 57 percent in January to 521 percent in December. Lovemore Manatsa, StanChart’s board chairman, said the bank achieved a…
MEASURES to combat the spread of Covid- 19 have had far-reaching consequences, particularly in developing countries such as Zimbabwe. Social distancing has meant that most households and individuals are economically inactive and cannot generate any income. While an estimated 88,7 percent of working-age people in Zimbabwe are economically active, the vast majority earn a living…
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PRESIDENT Emmerson Mnangagwa’s $18 billion stimulus package is “far short of national requirements to shore up a flagging economy” amid concerns about how it will be financed and whether it would not be inflationary, analysts say. This comes as Finance minister Mthuli Ncube has revealed in a startling letter to the International Monetary Fund (IMF)…
THE “new” interbank market introduced by the Reserve Bank of Zimbabwe (RBZ) has been inefficient as the productive sector cannot access the foreign currency, the Confederation of Zimbabwe (CZI) says. In a recent update CZI, the country’s largest business member organisation said companies were failing to access foreign currency on the “new” interbank market which…
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