THE Zimbabwe National Chamber of Commerce (ZNCC) estimates that the fiscus was prejudiced of between US$1,2 billion and US$1,5 billion in lost financial resources due to corruption.AdvertisementsIn its annual State of the Industry and Commerce survey report, the ZNCC said corruption raises the cost of doing business, with 81 percent of enterprises saying it weighs…
THE Zimbabwean sugar industry is grappling with significant challenges as escalating operational costs and unfavourable policy decisions jeopardise its viability.This has led companies like Triangle Limited (Triangle) to undertake drastic measures, including a three-phased staff rationalisation exercise, to stay afloat amidst mounting pressures.Triangle, wholly owned by South African sugar giant Tongaat Huletts, announced the retrenchment…
TWO weeks ago, I argued that Africa needs impactful digital solutions more than humanoid robots. AdvertisementsWhile much of the global focus is on humanoid robots, which are machines designed to resemble human beings in both form and function, Africa’s immediate needs require practical, scalable digital solutions that address the continent’s most pressing challenges. As Africa…
ZIMBABWE used 70,1 million litres of Jet A1 fuel in the first nine months of 2024, marking a 19 percent increase from the 59,07 million litres used during the same period in 2023, according to data from the Zimbabwe Energy Regulatory Authority (Zera).Jet A1 is a type of aviation fuel designed for aircraft equipped with…
ZIMBABWE’s stock markets have got on to a slow start in 2025 with trading activity so far being sluggish due to a combination of sustained liquidity challenges and the general cautiousness by investors.AdvertisementsThe country’s primary bourse- the Zimbabwe Stock Exchange (ZSE) has been the major loser while the US-dollar denominated Victoria Falls Stock Exchange (VFEX)…
Traders scaled back their bets for South Africa’s interest rate cuts this year, with markets now pricing in only one as they decipher the Federal Reserve’s preference to move slower on rates and US president-elect Donald Trump’s path on tariffs.AdvertisementsForward-rate agreements, used to speculate on borrowing costs, are now pricing in just a single 25-basis-point…
THE domestic Air Services Licensing Council requires that all voting rights in domestic airlines must be held by natural persons and not legal entities.AdvertisementsThis interpretation of the Air Services Licensing Act, voiced in a letter to FlySafair dated 6 January, renders almost all domestic airlines non-compliant and puts their operations at risk, says FlySafair.In the…
ONE of the country’s leading sugar producers, Triangle Limited, has announced plans to retrench some of its workforce due to economic challenges.AdvertisementsThis comes as most companies are struggling to operate with Beta Holdings and Khaya Cement recently applying to the Master of the High Court to be placed under voluntary corporate rescue.In a notice yesterday,…
THE Reserve Bank of Zimbabwe (RBZ) is at the forefront of efforts to safeguard the financial services sector against the growing threat of cyberattacks and the rising “reliance” on third-party service providers.This come as the global financial landscape continues to evolve and with increasing digitisation and financial innovation, cybersecurity has become a pressing concern for…
Nampak Southern Africa Holdings is still in negotiations with TSL Limited over the sale of Nampak Zimbabwe following the former’s acceptance of a binding offer.AdvertisementsNampak Southern Africa wants to dispose of a 51,43 percent shareholding in Nampak Zimbabwe for US$25 million.“Shareholders and the investing public are urged to continue to exercise caution when dealing in…
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