THE total value of transactions processed through the National Payment System (NPS) rose to $21,2 billion during the week ended March 20 from $20 billion recorded the previous week, a central bank report has revealed. The Reserve Bank of Zimbabwe (RBZ) said transactions processed through real time gross settlement (RTGS) amounted to $14,08 billion a…
FOREIGN investors were net sellers of $38,4 million worth of shares on the Zimbabwe Stock Exchange (ZSE) in March, latest figures show. According to the local bourse, foreign purchases accounted for $34,1 million worth of shares during the month under review while sales amounted to $72,4 million. Foreign trades accounted for 12,5 percent of the…
MEIKLES Limited (Meikles) has deferred its interim dividend payment due this week as a result of the national lockdown caused by coronavirus, whose death toll has reached more than 74 782 and infected 1,3 million globally Thabani Mpofu, Meikles’ company secretary, said the lockdown “resulted in an inability to effect the normal administrative procedures relating…
THE total number of active mobile subscribers in Zimbabwe grew marginally to 13,1 million in 2019 a 2,2 percent increase from 12,9 million recorded in prior year, a report by the industry regulator has revealed. In its sector performance report for 2019, the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) said one telco led…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-254630.mp3?cb=1732288828.mp3THE Zimbabwean tax system has been impacted by currency changes introduced in February 2019 by Statutory Instrument 33 of 2019. In 2016, when the bond note was introduced as a surrogate currency it carried the same value as the United States dollar. Indications that the economy was reeling from currency problems started kicking in November…
THE covid-19 pandemic will have a minimal impact on the Zimbabwe Stock Exchange (ZSE) which remains insulated from global financial developments, analysts say. Over the past decade performance of the ZSE has proven to be directly tied to currency and monetary dynamics in the local economy with little regard to international trends. “While the knock…
THE Insurance and Pensions Commission (Ipec) says viability challenges faced by employers have led to an increase in the number of inactive pension funds in Zimbabwe. This also comes as the National Social Security Authority (NSSA) has said as many as five million Zimbabweans are threatened with old age poverty due to a social security…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-254226.mp3?cb=1732288832.mp3THE Zimbabwean tax system has been impacted by currency changes introduced in February 2019 by Statutory Instrument 33 of 2019. In 2016 when the bond note was introduced as a surrogate currency it carried the same value as the United States Dollar. Indications that the economic was reeling from currency started kicking in November 2018…
ONE of the main concerns surrounding the outbreak of the Coronavirus has been low productivity as output in different sectors of the economy drops. This does not only apply to factories but also includes primary activities such as farming. We expect rapid population growth and increased economic prosperity to create substantial demand for food in…
THE government has issued a staggering 320 statutory instruments (SIs) over the past 15 months alone — illustrating both the authorities’ growing desperation and their chaotic policy making. Experts who spoke to The Financial Gazette this week said the sad reality was that none of these ill-conceived decrees would help to rescue the country’s battered…
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