AdvertisementsZIMBABWE missed its revised gold output target for 2018 by two percent after closing the year with deliveries of 33,28 tonnes from the projected 34 tonnes . Government had revised the target from 30 tonnes to 34 tonnes after deliveries surged from two tonnes in February to 3,9 tonnes in August. Deliveries of the yellow…
AdvertisementsZIMBABWE’S deteriorating economic situation and rising labour unrests could be improved through dialogue between government, business and labour, a leading industrialist has said. This was after it had emerged that last week’s stay away, which left at least 12 people dead and more than 170 injured, could have cost the country as much as a…
AdvertisementsINDUSTRY has suffered significantly from the suspension of Statutory Instrument 122 of 2017 with a Confederation of Zimbabwe Industries (CZI) survey showing that its amendment has reversed gains attained since 2016. In October last year, government suspended sections of the law to increase the flow of basic goods into the market after panic and speculative…
AdvertisementsINDUSTRY minister Mangaliso Ndlovu says the local manufacturing sector incurred a trade deficit of $843 million in 2018. This comes as Zimbabwe struggles with a persistent trade deficit, which has become one of the country’s major challenges in its quest for economic recovery, with official data showing that the cumulative trade shortfall since 2009 has…
AdvertisementsLATEST statistics from the Zimbabwe National Statistics Agency (ZimStat) show that the country’s trade deficit during the 11 months to November 30, 2018 increased to $2,36 billion from $1,5 billion in the comparable period in 2017. The southern African country has persistently run trade deficits since dollarisation in 2009, recording only a single monthly trade…
AdvertisementsANALYSTS have said government’s proposed rebate of excise duty on fuel consumed by registered businesses will not contain inflation. In a statement on Sunday, Finance minister Mthuli Ncube called on businesses to hold prices at levels before Sunday when President Emmerson Mnangagwa announced a review of fuel pump prices to $3,11 and $3,31 per litre…
AdvertisementsTHE Zimbabwe Stock Exchange (ZSE) had an eventful 2018, breaking a number of records including the improbable feat of most listings in a year since the market’s rebasing in 2009. The local bourse welcomed four counters during the year, namely Old Mutual, First Capital Bank (FCB), SeedCo International (SeedCo) and Cassava Smartech Zimbabwe (Cassava). Listing…
AdvertisementsSOUTH Africa’s Tongaat Hulett (Tongaat) is in a precarious position as it faces a negative cash flow in the current trading period due to its inability to recieve dividends from its Zimbabwean and Mozambique operations, an equity analyst has said. This comes as the company also faces various funding constraints due to various factors. The…
AdvertisementsARISTON Holdings (Ariston) says its operations have not been affected by Zimbabwe’s adverse economic environment due to the company’s foreign currency generation function. This sets the listed agro group apart from most local businesses, which have been devastated by the country’s foreign currency crisis. The operating environment continues to be characterised by a deterioration in…
AdvertisementsPROPERTY is currently the safest investment in Zimbabwe, which is grappling with rising prices and an unstable economic environment. The Financial Gazette’s Online Editor Paul Nyakazeya spoke to the Estates Agents Council of Zimbabwe (EACZ) chairperson Oswald Nyakunika for an insight into the property sector and the options available for investors.Advertisements PN: What were the…
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