AdvertisementsINSURERS say government should localise all or at least some of the insurance on national projects to support the local industry. Even though the law states that all risks that originate in Zimbabwe should be insured locally, players in the industry complain that government and companies involved in big projects are prejudicing local insurers by…
Advertisements. . . as ED govt is literally between a rock and a hard place ZIMBABWE’S anti-corruption fight will always stutter, as President Emmerson Mnangagwa’s government fears a robust attack on “racketeers” will also sink Zanu PF and its leaders since the alleged offenders’ activities are intricately linked to the party’s survival, analysts say. Advertisements…
AdvertisementsPOVERTY levels in Zimbabwe will increase this year if monetary authorities fail to contain inflation, a World Bank (WB) official has said. According to Zimstat, extreme poverty in Zimbabwe rose from 22 percent in 2012 to 29 percent in 2017, and is likely to have risen further to as much as 38 percent in 2019…
AdvertisementsZIMBABWE’S annual broad money supply stood at Z$34,98 billion in December 2019, up from Z$31,82 billion recorded in November 2019, latest figures have revealed. Advertisements According to the Reserve Bank of Zimbabwe (RBZ) monthly economic review for December 2019, growth in money supply reflected increased lending to both public and private sectors, in support of…
AdvertisementsPOWERSPEED Electrical (Powerspeed) says the increasing regulatory burden on formal business is driving costs up and tilting odds in favour of informal traders. “Ever increasing regulation of formal business are increasing the cost of doing business in Zimbabwe while making it easier for informal traders, who are now our largest competitors,” Powerspeed said last week…
AdvertisementsEIKLES says growth in export volumes of macadamia and avocados set-off a decline in bulk tea production at its subsidiary, Tanganda, during the nine months to December 2019. Macadamia and avocado exports grew by 126 percent and 39 percent respectively, compared to the same period last year. “The incremental export sales from these new crops…
AdvertisementsZIMBABWE’S state-run pension fund, the National Social Security Authority (Nssa), says it is negotiating with relevant authorities for a better yield on Treasury Bills (TBs) that are on its books. The majority of the government paper in issue yields less than 10 percent per year, while the Reserve Bank of Zimbabwe’s accommodation rate is currently…
AdvertisementsZIMBABWEAN pension funds say they are shunning prescribed assets over fears of “being burnt” by value erosion amid a currency crisis.Advertisements According to the Insurance and Pensions Commission (Ipec), pension funds had an aggregate prescribed assets compliance level of 7,64 percent as at September 30, 2019, against a requirement of 10 percent, while stand-alone funds…
AdvertisementsZIMBABWE’S tobacco export proceeds last year were US$746 million, down from US$838 million during the 11 months to December 2018, data provided by the Zimbabwe National Statistics Agency shows. This was despite a bump in production, from 252 million kilogrammes (kg) in 2018 to 255 million kg in 2019. The decrease in earnings, however, was…
AdvertisementsINSURERS say high levies and taxes on premiums have made insurance unaffordable in Zimbabwe, exerting pressure on the country’s insurance penetration rate.Advertisements At less than two percent, the country’s insurance penetration is very low, particularly in comparison to other countries in the region. “Tax is crowding insurance premiums to the extent that as much as…
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