SINCE the wave of price increases that hit Zimbabwe late last year, ordinary Zimbabweans have been baffled by the mismatch between the official inflation rate and the level of price increases. To many — whose disposable incomes have significantly lost buying power in recent months, the official inflation rate is far from reflecting the gaping…
DIVERSIFIED investment holding company Brainworks has disposed part of its stake in GetBucks Microfinance to reduce its short term debt. The disposal, which decreased Brainworks’ stake in Getbucks by about two percent to just under 30 percent, has generated $565 340,53 for the company. The company announced in a statement that it had sold 18…
FALCON Gold Zimbabwe Limited (Falgold) has been in a precarious position for almost a decade now as it has persistently held a negative net asset position — a precursor to insolvency — since the introduction of the multi-currency system in 2009. The company has had numerous problems over the period, including liquidity challenges, strikes, and…
I AM writing before the historical 2018 general elections in Zimbabwe. I am therefore unaware of the results as yet. For now I will stick to the story of US Secretary of State, Ms Hillary Clinton. Everybody who is in the book of life, the Federal Bureau of Investigations, the Central Intelligence Organisation and media…
THE return of Brendon Taylor — who plays all formats of the game — could be what the doctor ordered at a time Zimbabwe Cricket slumped to a new low, after Pakistan scripted a 5-0 whitewash against the Chevrons in a One Day International (ODI) series last month. In a lopsided series, Pakistan won two…
FROM being held 23 all by Morocco in Harare last month, to going down 45- 34 in Nairobi at the hands of Kenya, to sleeping on the streets in Tunis before losing 18-14 to Tunisia, the Sables quests to qualify for next year’s Rugby World Cup in Japan seem to have gone up in smoke.…
ASIAN transport giant China Tiesiju Civil Engineering (CTCE) last week signed a Memorandum of Agreement (MOU) with Harare on multi-million dollar rail projects. Shao Gang, CTCE vice president and senior engineer, said the MOU was for the construction of the 24km Harare-Chitungwiza railway line and another 1 700km line from Binga to Nampula, near the…
THE Insurance and Pensions Commission (IPEC) wants insurance penetration to reach 20 percent next year from the current level of about five percent. This comes as insurance is viewed as a luxury and unaffordable to many due to subdued disposable incomes. Zimbabwe’s insurance penetration rate, which reached a high of 10 percent in the early…
ECONET has hinted that it may venture into telematics insurance following the recent launch of its motor insurance service, EcoSure Moovah. Telematics insurance is car insurance where the premiums are quoted based on driving behaviours of the policy holder as recorded by a device fitted to the vehicle. It has emerged as a popular trend…
THE current subdued performance of most Zimbabwean companies is a reflection of the deepening foreign currency crisis, rather than productivity, a listed firm’s executive has argued. Rob Webster, managing director of Zimbabwe Stock Exchange-quoted cables manufacturer — Cafca, said the situation had been exacerbated by the different perceptions on the value of the United States…
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