THE decline in gold deliveries during the last quarter of 2018 dragged down Zimbabwe’s economic growth, a leading equities firm has said. In an analysis of the monetary policy statement presented by Reserve Bank of Zimbabwe governor John Mangudya last week, Old Mutual Securities (OMSEC) said the decline in deliveries between October and December due…
THE Insurance and Pensions Commission (IPEC) says the recent rebasing of Zimbabwe’s Gross Domestic Product (GDP) has painted a different picture of insurance penetration in the country, which it says came down to 2,9 percent from 4,7 after the revision. In October last year, Zimbabwe’s statistics agency rebased some of its economic statistics, in an…
The message coming out of the first Formula 1 pre-season test was as clear as it gets at this time of year – Ferrari are a step ahead of the field, and world champions Mercedes have some catching up to do. The Ferrari was quick every time it went out, got down to fast times…
NICOZDIAMOND Insurance Limited (NDIL) managing director Grace Muradzikwa says she will be leaving the company at the end of this month. Muradzikwa, who has led the short term insurance firm for 16 years, will be replaced by Tristar Insurance Company managing director David Nyabadza. “It is true I will be leaving NicozDiamond at the end…
ZIMBABWE’S hard-pressed industries have warned the country against ratifying the African Continental Trade Area (AfCFTA) agreement before some adjustment on the rules of origin principles are made. The free trade agreement, signed in March 2018 by 44 African countries, is projected to make Africa the largest free trade zone in the world, with an estimated…
MINES minister Winston Chitando says Zimbabwe should fine-tune its mineral exploration framework in order to benefit from its resources. In a bid to boost the performance of the sector, government recently lifted the suspension of new Exclusive Prospecting Orders (EPOs). This has, however, hit a snag after conflicts emerged between the interests of small-scale miners…
METALLON Corporation (Metallon), Zimbabwe’s biggest gold miner, says it has down-sized operations in line with foreign currency shortages in the country. This comes as the viability of local mining companies has come under threat following the central bank’s failure to avail adequate foreign currency to the sector. Ranga Mberi, Metallon’s public relations officer, told The…
CALEDONIA Mining Corporation (Caledonia) says its dividend policy is informed, in part, by the need to reassure investors that it is in good standing despite the challenges in Zimbabwe. The Zimbabwe focused miner, which operates Blanket Gold mine, is popular with international investors because it is one of the few mining companies that has…
Chelsea manager Maurizio Sarri will be sacked before their next game, ex-Blues striker Chris Sutton said after their FA Cup defeat by Manchester United. Fans booed the Italian’s substitutions during the fifth-round match, and joined in when United supporters sang “you’re getting sacked in the morning”. “This is Maurizio Sarri’s last game at Chelsea. The…
AS THE deepening foreign currency crisis ― coupled with the perception that there is no respect for the rule of law ― has amplified Zimbabwe’s country risk, calls for the monetary authorities to liberalise the forex market have become louder. The Financial Gazette’s Online Editor Paul Nyakazeya (PN) interviewed former Reserve Bank of Zimbabwe (RBZ)…
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