INVESTING in other markets with stable currencies will increase Simbisa Brands (Simbisa)’s profit and revenue, a research service firm has said. In an analysis of the company’s financial results for the six months to December 31, 2019, Akribos Research Service said Simbisa, Zimbabwe’s largest fastfood restaurant operator, would experience growth and record more profit by…
THE Institute of Chartered Accountants of Zimbabwe (ICAZ) says the effects of covid-19 have complicated the implementation of certain accounting standards. The institute urged caution in the execution of the requirements of IFRS 9, a standard that addresses the accounting for financial instruments, and among other things, sets out a framework for determining the…
THE government’s decision to impose a price moratorium on basic goods will drive Zimbabwe’s battered economy deeper into the mire, business has warned. This comes as the Zimbabwe National Chamber of Commerce (ZNCC) and the Confederation of Zimbabwe Industries (CZI) — the country’s two main business organisations — have denied that they were consulted by…
ZIMBABWE’S runaway inflation has dented the country’s emerging mortgage market after the sector recorded negative returns in the first quarter of 2020, a latest report has revealed. The country’s annual inflation rate hit a 10-year high of 647 percent in March — one of the highest in the world. Integrated Properties (IP) said financial institutions…
THE Zimbabwe dollar will continue to lose value against major currencies in the aftermath of the Covid-19 pandemic as government embarks on quasi-fiscal programmes to try cushion vulnerable citizens, a leading stock broking firm has said. In an analysis of the country’s investment climate, Imara Asset Management said increased government spending together with falling exports…
ZIMBABWE’S acute food insecurity is expected to worsen this year with the vulnerable estimated at 4,3 million up to June, a global humanitarian agency has said. The country has only experienced normal rainfall in two of the last five growing seasons, and has been experiencing an economic crisis that has crippled industry and work opportunities,…
ZIMBABWE’S money supply rose to $34,98 billion in December last year from $23,55 billion in September, a central bank report has revealed. In a quarterly economic review for the three month to December 2019, the central bank said the quarter on quarter growth in money supply was on the back of expansions in transferrable deposits,…
MINERAL production declined during the fourth quarter of last year compared to the same period in 2018, a Reserve bank of Zimbabwe (RBZ) report has revealed. In the quarterly economic review to December 2019, the RBZ said notable under-performances were recorded for coal, diamonds, ruthenium, phosphate, lithium, chrome, nickel and gold production. Granite and iridium…
BUSINESS is reeling across the board due to the combined effects of the country’s deepening economic crisis and the coronavirus pandemic. Experts who spoke to The Financial Gazette this week warned that unless authorities moved with speed to find solutions to Zimbabwe’s myriad crises, things could soon reach “a tipping point” — with ghastly consequences…
ZIMBABWE’s property market was depressed during the first quarter of the year due to statutory Instrument (SI) 142 of 2019, which resulted in erosion of rental revenues owing to exchange rate induced inflation, a latest report has revealed. In a report for the three months ending March 31, 2020, Intergrated Properties (IP) said the sector’s…
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