DUALLY-LISTED equities still provide the best hedge on the Zimbabwe Stock Exchange (ZSE), despite restrictions by the Reserve Bank of Zimbabwe (RBZ), a local equities firm has said. The central bank in June placed a three-month vesting period on fungible shares as part measures to “support the Zimbabwean dollar” as the economy’s lone currency. Fungible…
ZIMBABWEAN firms will continue to receive “unclean” audit reports on their results into the near future due to issues arising from conflicts between the country’s legislation and accounting standards, as well as the unavailability of reliable financial data, it has emerged. Since February, when government gazetted Statutory Instrument (SI) 33 of 2019, which dictated a…
STANDARD Chartered (Stanchart) is the oldest Bank in Zimbabwe having operated in the country for over 125 years. The bank is embarking on a digital transformation which has seen it close down several of its physical branches. Our Digital Editor, Paul Nyakazeya (PN) spoke with Ralph Watungwa (RW), Stanchart Zimbabwe’s chief executive on the bank’s…
RIOZIM has lost millions of dollars in potential revenue due to subdued output at a time international gold prices have enjoyed a sustained rally. Saleem Beebeejaun, RioZim’s board chairman, said the company realised an average gold price of US$1 346 per ounce during the six months to June 2019, up from US$1 298 in the…
GETBUCKS Microfinance Bank (GetBucks) says the recent hike in interest rates has put pressure on the company’s profit margins. In a statement accompanying results for the year ended June 30, 2019, Rungamo Mbire, the company’s board chairman said the cost of funding had increased as “financiers seek to maintain the value of their money in…
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says local voice and data tariffs remain the lowest in the region, even after the recent adjustments. The regulator recently approved a 95,39 percent increase on voice and data tariffs for both mobile and fixed network operators, saying inflation has made the previous tariffs that were…
ZIMBABWE’S nickel exports hit an all-time high of US$533 million in September this year, up from US$394 million during the 11 months to December 2018 due to increased global demand, latest official figures show. Data provided by the Zimbabwe National Statistics Agency (Zimstat) revealed that exports of the base metal reached a 33-month high of…
THE speed at which Africa is currently embracing technological disruption gives the feeling of a continent on a mission to make up for the time and opportunity lost during the 20th century. Zimbabwe is fast-forwarding itself into the 21st century, learning lessons from more developed economies and leapfrogging old technology to instead adopt new and…
THE Confederation of Zimbabwe Industries (CZI) says capacity utilisation is set to decline much more than expected this year as power shortages continue to impede productivity. In January, the industry representative body warned of a gloomy outlook for 2019, projecting that capacity utilisation would decline to 34,3 percent from last year’s 48,2 percent as economic…
THE Securities and Exchange Commission of Zimbabwe (SecZim) Seczim has blamed the central bank for failing to operationalise a US$5 million facility set up more than two years ago to ring-fence funds invested on local capital markets. Reserve Bank of Zimbabwe governor John Mangudya first announced the facility in 2017 as part of monetary policy…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More