ECOCASH plans to further reduce its tariffs soon, the mobile money service’s chief executive officer Natalie Jabangwe-Morris has revealed. Speaking at the launch of EcoCash’s dedicated business wallet in Harare last week, Jabangwe-Morris said the mobile money service was planning to slash its tariffs again this year before the elections which are scheduled for July…
A BILL which is meant to amend the Zimbabwe Democracy and Economic Recovery Act of 2001 (ZIDERA) passed a United States Senate committee stage on Tuesday. The bill, which was introduced by senators Jeff Flake and Chris Coons in March this year, updates ZIDERA and states the steps Zimbabwe needs to take to have sanctions…
OLD Mutual Limited shares closed at 450 cents on Tuesday, the stock’s first day of trading on the Zimbabwe Stock Exchange (ZSE). Trading in the stock, which represents a relisting of Old Mutual plc following a split of the entity into four separate listed-businesses, opened on Tuesday across five exchanges. Old Mutual Limited which holds…
PREMIER Service Medical Aid Society’s (PSMAS) subscription base has been hit by poor economic performance. PSMAS board chairman Jeremiah Bvirindi told society members at the group’s annual general meeting last week that subscriptions declined to $238 million in 2017 from $242 million in 2016. “The group attained revenues of $248 million, while subscriptions were $238…
THE first high-level Eritrean delegation in decades has reached Ethiopia for a visit which could ease decades of military tension. Eritrea won independence from Ethiopia in 1993 after a 30-year conflict – but a border war five years later killed tens of thousands. Diplomatic ties have been cut between the two countries for almost 20…
Germany kept their World Cup campaign alive with a come-from-behind 2-1 win at the death over Sweden in Sochi on Saturday. Julian Draxler was making the early inventions and, after breaking out wide, he found space to whip in a low ball but none of his teammates were able to convert. Sweden caught the opposition…
LOCAL pension funds have departed from an outdated method of accounting for investment assets as stipulated in the Pension and Provident Funds Act, a member of the insurance and pensions subcommittee at the Institute of Charted accountants of Zimbabwe (ICAZ) has revealed. Hope Mulilo, an expert in Audit, International Financial Reporting Standards (IFRS), pensions and…
THE Insurance and Pensions Commission (IPEC) plans to develop actuarial mortality tables to replace those in current use, which were made in the 1990s. The local insurance and pensions industry currently relies on tables from the United Kingdom and South Africa, along with the outdated local tables. Speaking at the opening session of the fourth…
CONTRIBUTION arrears to pension funds have reached $600 million, the Insurance and Pensions Commission (IPEC) disclosed on Tuesday. IPEC head of pensions Josphat Kakwere said the arrears had reached $600 million as at December, 2017. “Contribution arrears amounted to $600,31 million as at 31 December 2017, accounting for 14,89 percent of total assets as at…
THE Insurance and Pensions Commission (IPEC) says the average pensioner in Zimbabwe receives a pension well below the poverty line. Speaking at a seminar held by the Institute of Chartered Accountants of Zimbabwe in collaboration with IPEC on Tuesday, the commission’s pension department head, Josphat Kakwere said in 2017 pensioners received payouts that fell well…
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