THE incessant attacks on local tycoons Kuda Tagwirei and Billy Rautenbach have once again reinforced the dangers of mixing business with politics and problems associated with Zimbabwe’s political economy, analysts say. This comes as many watchers of the southern African country also anticipate David Kassel’s Grandwell Holdings to encounter serious difficulties in enforcing its recent…
PROPERTY valuers have been urged to relook traditional valuation models as concerns heighten about the huge variations on properties, a new report has revealed. Internationally, a variance of between five percent and 10 percent is considered normal but in Zimbabwe, the difference can go up to as much as seven-fold, a development which has raised…
THE Zimbabwe Stock Exchange (ZSE) Industrial Index gained 45 percent in January to end at 1 109,41 points, while market capitalisation grew by $13,7 billion to end at $43,3 billion during the same period. This is the first time the index has crossed the 1 000-points mark since the market’s reset in 2009. The gains…
ZIMBABWE’S State-run pension fund, the National Social Security Authority (NSSA), says it is exploring an offshore investment opportunity to hedge against local currency risk. The Zimbabwe dollar has lost more than 70 percent of its value since its introduction in 2019. “To further diversify income streams and hedge against currency risk, the authority is currently…
CFI Holdings (CFI) says its subsidiary, Crest Poultry Group (Crest) exited judicial management last month after it managed to raise funds to pay-off creditors. CFI voluntarily placed Crest and other subsidiaries under management in 2016 to protect its assets from creditors. “Crest exited judicial management shortly after the reporting period, in January 2020,” Itai Pasi,…
ZIMBABWE recorded a trade surplus of US$218 million with South Africa (SA) in 2019 from a deficit of US$458 million during the 11 months to December 2018, official data shows. The country’s first trade surplus with its major trading partner in over a decade, comes as a worsening foreign currency shortage and rising inflation have…
THE Reserve Bank of Zimbabwe (RBZ) has started a process of reviewing its US$1,2 billion legacy debts, with a view of engaging “willing creditors on haircuts”, officials say. This comes as a number of firms, including Delta Corporation (Delta) and National Foods (NatFoods), have said that they anticipated a review of the one-on-one payment or…
INSURERS and pension funds are incapable of complying with prescribed asset thresholds set by government, due to liquidity constraints in the economy, an investment management firm has said. The uptake of prescribed assets has remained low amid calls for government to come up with instruments and thresholds that encourage participation in line with global…
THE Reserve Bank of Zimbabwe (RBZ) says it has resolved to “further liberalise” operations of bureaux de change to enhance the interbank market. The central bank tightened controls on bureaux de change in September last year after the Zimbabwe dollar’s rapid deterioration. “The Monetary Policy Committee (MPC) resolved to strengthen the operations of bureaux de…
ZIMBABWE’S economic challenges are expected to persist in the medium term on the back of drought and current foreign currency shortages, analysts have warned. FBC Securities said in the absence of solid reforms to deal with soaring inflation and prices of key inputs, as well as crippling fuel, power and foreign currency shortages, it is…
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