THE Zimbabwe Stock Exchange (ZSE) says it is weighing the local market’s readiness for the listing of trade derivatives. A derivative is a financial security with a value that is reliant upon or derived from an underlying asset or group of assets. The derivative itself is a contract between two or more parties based…
NETONE says digital payments play a critical role in creating opportunities for people to improve their lives and participate in their economies. As such, the government-owned mobile telecommunications company said it will continue to roll out products ― through its OneMoney platform ― that will benefit the majority of Zimbabweans. OneMoney was launched last year…
ZIMBABWE has set up 13 Special Economic Zones (SEZs) across the country in a move aimed at stimulating production and create jobs. SEZs are areas in which business and trade laws are different from the rest of the country. They are normally located within a country’s national borders, and their aims include increased trade, higher…
ZIMBABWEAN banks are slowly increasing capital allocation towards investment securities after controlled lending rates put pressure on the sector’s profits in the half year to June 2018, The Financial Gazette can reveal. Lending rates are pegged between six percent and 12 percent, depending on the lender’s risk profile. However, interest rates on deposits that were…
CBZ Holdings (CBZ) says it is targeting to grow its asset base to $3 billion this year as the financial institution seeks to maintain its dominance on the local market. The diversified group, which has been among the pace setters in the local financial services space for more than a decade, grew its asset base…
THE Infrastructural Development Bank of Zimbabwe (IDBZ) expects to return back to profitability by year end after its half year performance surpassed expectations. The government-owned financial institution incurred a loss of $1,2 million for the half year, coming off a profit of $196 572 recorded in the comparable period last year. Thomas Sakala, IDBZ’s chief…
NATIONAL Assembly Speaker Jacob Mudenda has submitted the recently-passed Mines and Minerals Amendment Bill to President Emmerson Mnangagwa for assent, last Friday’s Government Gazette said. The Bill, seeking to repeal the principal Act crafted in 1961, is part of government efforts to come up with a relevant and business friendly mining policy. After years on…
THE Infrastructural Development Bank of Zimbabwe (IDBZ) yesterday said government has injected an additional $150 million fresh capital into the financial institution. Industry experts said the recapitalisation of state banks is a significant change from the drip-feed approach pursued over the last few years and should help to address the capital shortages that are a…
THE Agriculture Development Bank of Zimbabwe (Agribank) says it is close to securing a strategic partner to help it reach the minimum capital requirements of $100 million by 2020. A strategic partner and fresh capital injection would also enable the financial institution to have a strong balance sheet that allows it to execute its mandate…
NMBZ Holdings’ (NMBZ) strategy to broaden its target market to the masses is paying off after the financial institution recorded a $9 million after-tax profit in the half year to June 30, 2018 from $3,5 million during the same period last year. The company used to cater for high-end clients, but changed tact following informalisation…
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