ZIMBABWE’S trade deficit for January was down by 82 percent compared to the same period last year after a sharp decline in imports from South Africa (SA). Latest trade data from the Zimbabwe National Statistics Agency shows that the country’s trade gap in January was $44 million, representing a dramatic decline from gaps of $130…
TRUWORTHS Zimbabwe says its financial performance for the half year ended January 6, 2019 was dampened by the introduction of a two percent tax on electronic transactions. Its trading expenses increased significantly during the period under review due to the new levy. Finance minister Mthuli Ncube in October last year announced an intermediated money transfer…
THE Zimbabwe National Statistics Agency (ZIMSTAT) plans to start publishing national accounts on a quarterly basis. The move comes after the agency signed a Memorandum of Understanding (MoU) with the Zimbabwe Revenue Authority (ZIMRA), which allows the agencies to share “vital information about business entities, which operate in the local economy”. “…there is strong need…
AXIA Corporation Limited (AXIA) has partnered businesses that generate foreign currency as part of strategies to grow the company’s volumes going forward, a local equities research firm has said. Due to the foreign currency shortages and the real threat of stock shortages, AXIA management recently suggested a strategy of acquiring and or partnering businesses that…
NATIONAL Foods (Natfoods) says the central bank has assumed its US$54,9 million legacy debt owed to a foreign supplier, in a move that will allow the food processor to continue operating its flour milling unit. In December last year, the group warned that its flour milling division was on the brink of closing down after…
THE current fuel shortages in Zimbabwe are due to temporary lags in the banking system and working capital constraints faced by petroleum dealers, central bank governor John Mangudya has said. The former CBZ Holdings chief executive told Parliament’s energy portfolio committee that the central bank had provided ample foreign currency for fuel imports since January…
ZIMBABWE has set up a special outfit under the central bank called the Asset Management Unit (AMU), to investigate individuals and companies who are deemed to have obtained wealth illegally. The crack unit was established through an amendment of the Money Laundering and Proceeds of Crime Act, as part of the Finance Act of 2019,…
THE Zimbabwe Stock Exchange (ZSE)’s change of trading currency to RTGS dollars will introduce currency risk into the market, analysts have warned. Currency risk, commonly referred to as exchange-rate risk, arises from the change in price of one currency in relation to another. Investors or companies that have assets or business operations across national borders…
PPC South Africa is bullish about the recent monetary policy changes in Zimbabwe, saying they are a positive development towards curbing inflation. Three weeks ago, central bank governor John Mangudya announced the establishment of an inter-bank foreign exchange market in Zimbabwe to formalise the trading of local bank balances and bond notes — which have…
THE Zimbabwe Stock Exchange (ZSE) cooled down last week as investors assumed a wait-and-see approach following various measures announced by the central bank in its Monetary Policy Statement (MPS). All the indices have recorded considerable slips since the statement a fortnight ago. Over the past two years, the local bourse has been experiencing intermittent rallies…
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