AdvertisementsZIMBABWE’S complex regulatory system and red tape is discouraging the growth of start-ups and small to medium enterprises, an economist has said.Advertisements In an interview with The Financial Gazette, John Robertson, a renowned economist said the existence of so many regulations make Zimbabwe to be classified as a “hostile investment” destination whose “Ease of Doing…
AdvertisementsFOREIGN investors accounted for 26 percent of trades on the Zimbabwe Stock Exchange (ZSE) and were marginal net buyers as they recorded net purchases of $0,3 million worth of shares during the week ended September 20. Particular interest was in financial service firm Old Mutual Zimbabwe (Old Mutual) and the country’s largest beverage manufacturer, Delta…
AdvertisementsTHE return of the Zimbabwean dollar as the sole legal tender was hurried and has not achieved its intended purpose, a research firm has said. This comes as the economic environment in the country has continued to deteriorate following the changes on June 24, with the official exchange rate for the local unit against U.S.…
AdvertisementsTHE Reserve Bank of Zimbabwe (RBZ) has revised the minimum capital requirement for commercial banks to $200 million by 2020, from $100 million.Advertisements “Going forward, all Tier 1 banking institutions are required to hold core capital of at least ZWL$200 million by December 2020 in order to support risks associated with their business activities,” John…
AdvertisementsRAINBOW Tourism Group (RTG) says its profit for the six months ended June 30, 2019 which stood at $5,4 million, was 25 times higher on the prior period after a bump in its revenues. Advertisements While a number of companies in the country have reported similar movements in their bottom lines, mostly because of exchange…
AdvertisementsZIMBABWE is set to incur a huge budget deficit by year-end due to failure to contain government expenditure and costs created by Cyclone Idai, among other challenges, experts said.Advertisements This comes as while Finance minister Mthuli Ncube has said Treasury recorded a cumulative budget surplus of $803,6 million in the first half of 2019, a…
AdvertisementsTHE corporate sector faces even tougher times ahead as the cost of doing business keeps soaring — driven by rising inflation and interest rates, as well as the continued weakening of the local currency against the American dollar. This comes as hard-pressed companies — which were this week hit by fresh fuel price and interest…
AdvertisementsCAFCA says demand on the domestic market remains depressed but the company is increasing exports to generate foreign currency and cushion it from losses.Advertisements In a trading update for the three months to June 2019, the cable manufacturer said sales volumes had suffered due to subdued demand in the country amid tough economic conditions. Sales…
AdvertisementsZIMRE Property Investment Limited (ZPI) says it benefitted from currency reforms that government adopted in February this year, which saw the company record exchange rate gains of $3,3 million during the half year to June 30, 2019.Advertisements Jean Maguranyanga, ZPI’s chairperson, said total revenue during the period under review grew by 124 percent to $3,37…
AdvertisementsFALCON Gold Zimbabwe (Falgold) is seeking to relist on the Zimbabwe Stock Exchange (ZSE) after it finally published its financial results last week.Advertisements ZSE suspended trading of the gold miner’s shares in February after it failed to publish its financials within the stipulated time-frame. “After the publication of the Falgold 2019 half-year results, the company…
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