THE government must refrain from its “heavy-handed approach” to the control of local markets, particularly in strategic commodities such as gold, tobacco and currencies. Lately, unofficial trading channels in these key sectors have been buoyant ― much to the demise of the official markets. Official figures show that gold deliveries to Fidelity Printers and Refineries…
DESPITE the significant strides that have been made in the development of Zimbabwe’s capital markets since independence in 1980, recurrent currency crises have, however, made a mess of it with the spheres, which are supposed to provide channels of investment, now reduced to speculative and hedging avenues. Since 1980, there have been notable improvements to…
THE bizarreness of penny stocks was on full display on the Zimbabwe Stock Exchange (ZSE) during the first quarter this year, as Medtech Holdings (Medtech) outperformed every other counter on the market after gaining 350 percent. Shares in the company, which sells consumer goods, medical supplies and light industrial products, opened the year at $0,0002…
THE Zimbabwe Davis Cup team’s 4-1 defeat at the hands of Romania on Saturday is a major setback for local tennis and has left followers of the sport in the country with more questions than answers. Zimbabwe had started the second and final day of the Davis Cup Euro/Africa Group II tie at the Sala…
ZIMBABWE’s sickly economy is experiencing severe fresh headwinds, triggered by spiralling production costs, soaring parallel foreign currency rates and a subdued aggregate demand as disposable incomes continue to plummet. As a result, experts warn, the country is grappling with the threat of stagflation for the second time in a decade — a situation in which…
FOREIGN investors continue to flee the Zimbabwe Stock Exchange (ZSE) by transferring their stocks to South Africa through dual-listed counters. Information gathered by this publication shows that 4 973 478 shares in Old Mutual , worth almost US$8 million, have been transferred from the ZSE to the Johannesburg Stock Exchange since the announcement of the…
BINDURA Nickel Corporation (BNC)’s shares slumped on the Zimbabwe Stock Exchange (ZSE) during the first quarter, despite a surge in the price of nickel, its primary resource. BNC, which is engaged in the mining and extraction of nickel as well as the production of nickel by-products, was one of the biggest losers on the ZSE…
ZIMBABWE is one step closer to achieving its one-stop-shop investment centre (OSIC) initiative after a Bill to expedite the process was gazetted. This comes as the southern African country, which is desperate for investment, has received numerous complaints from potential investors exasperated with the tedious process of setting up business in Zimbabwe. Parliamentary and constitutional…
THE recently-launched interbank market is not operating on a free market concept resulting in subdued trading and companies failing to access desperately-needed foreign currency, the Confederation of Zimbabwe Industries (CZI) Economists Round Table has said. This comes as the official forex market — which debuted at 1:2,5 against the United States dollar — has been…
THE National Social Security Authority (NSSA) says as many as five million Zimbabweans are threatened with old age poverty due to a social security coverage gap in the country. An International Labour Organisation (ILO) convention in 1952 set minimum standards for social security covering such areas as unemployment benefit, medical care, maternity, sickness and family…
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