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ZIMBABWE

Exchange rate policy consistency remains elusive for Zimbabwe

The issue of the exchange rate has progressively become the focal point of local economic discourse as uncertainty continues to grip the country's future. Following the accelerated depreciation in the...

By Staff reporter | Published: 4 mins ago

ZIMBABWE

Industrial index sets new all-time high as ZSE gains 11%

The ZSE continued its recovery with an 11% rise, as counters across the board made strong gains. The session yielded 21 gainers against one faller, with the top gainers pushed by small trades while Ol...

By Staff reporter | Published: 5 mins ago

BUSINESS NEWS

SECZIM develops handbook on Anti-Money Laundering

In a bid to assist Securities Market Intermediaries (SMIs) in understanding their obligations in the fight against money laundering and terrorist financing in the securities sector, the Security and E...

By Staff reporter | Published: 6 mins ago

OPINION

Beware of safe haven assets, fair value adjustments tend to burn later on

The Zimbabwean economy is fundamentally going through what the global economy is experiencing as well, albeit due to slightly different dynamics. A safe haven is generally a place where investors "par...

By Staff reporter | Published: 7 mins ago

OPINION

Zimbabwe currency stability faces headwinds

The battle for new currency stability faces severe headwinds, and the signs are not good. It was always going to be an uphill task, even under the best of conditions to re-introduce a currency that wa...

By Joseph Mverecha | Published: 7 mins ago

MINING & RETAIL

Coal production down 43% in year to July

The mining sector had another mixed month in July with changes in output varying across the board while total earnings from mining commodities fell by 13% to US$205 million. Positively, gold, the coun...

By Staff reporter | Published: 8 mins ago

BUSINESS NEWS

Average Zimbabwean lived on ZWL$10.78/day in July

Latest data from Zimstat shows that the average Zimbabwean lived on $10.78 per day while the average family needed $1,617 for enough subsistence to not be deemed poor. This means that Zimbabweans are ...

By Staff reporter | Published: 9 mins ago

BUSINESS NEWS

Month-on-month inflation slows to 18.07% in August

Month on month inflation continued to trend downwards in August, with the figure falling to 18.07% from 21.04% in July. Following the decision to suspend the release of annual inflation statistics, th...

By Staff reporter | Published: 10 mins ago

FINANCIAL SERVICES

RBZ turns to domestic resource mobilisation in the absence of international bailout

In the absence of an international bailout package, the Reserve Bank of Zimbabwe has presented a monetary policy statement strongly focused on domestic resource mobilisation aimed at reviving the prod...

By Staff reporter | Published: 11 mins ago

FINANCIAL SERVICES

OMZL bets on real assets under the hyperinflationary environment

Insurance giant Old Mutual Zimbabwe released its financial results for the half year ended 30 June 2019. The headline figure was the 671% growth in profit before tax to $509.2 million while operating ...

By Staff reporter | Published: 12 mins ago

FINANCIAL SERVICES

Zamco begins process to dispose of Star Africa stake

The Zimbabwe Asset Management Company (ZAMCO) is now looking at disposing its 57.4% stake in Star Africa.The sugar manufacturer, is among some of the companies that were on the verge of collapse becau...

By Staff reporter | Published: 13 mins ago

BUSINESS NEWS

Money supply growth accelerates in June

The Reserve Bank of Zimbabwe (RBZ) released its monthly economic review for June detailing monetary statistics for the 2019 half year. The report comes in the build up to Governor Dr. John Mangudya's ...

By Staff reporter | Published: 15 mins ago

AFRICA NEWS

Kenya declares three days of mourning for Mugabe

Kenyan President Uhuru Kenyatta declared three days of mourning for the former Zimbabwean President Robert Mugabe on Friday, describing him as a "shining beacon of Africa's liberation struggle."In a p...

By Staff reporter | Published: 06 September 2019

POLITICS

Mugabe dies in front of Grace

Zimbabwe's founding leader Robert Gabriel Mugabe has died aged 95.Mugabe died in a hospital in Singapore on Friday surrounded by family including his wife, Grace."Sadly, we have lost him. It's a day w...

By Staff reporter | Published: 06 September 2019

INDUSTRIALS & ENERGY

Mutoko Independent Power Producer pumps 2.5 megawatts into national grid

MUTOKO community is experiencing less hours of load shedding after a local Independent Power Producer, Nyangani Renewable Energy (NRE) started pumping its solar power into the national grid.NRE is the...

By Staff reporter | Published: 22 August 2019

BUSINESS NEWS

ZimTrade Outward Trade delegation set for UK Mission

A high-powered delegation from ZimTrade, Zimbabwe's trade development and promotion organisation, will visit the United Kingdom (UK) on an Outward Trade Mission from the 2-6 September 2019.The delegat...

By Staff reporter | Published: 22 August 2019

Old Mutual to manage capital from Zimbabwe business on ring fence basis

Old Mutual Limited (OML) says capital raised through repatriation of dividends from its Zimbabwe business will be managed on a ring-fenced basis. This came at a time when the local economy is bleeding...

By Staff reporter | Published: 22 August 2019

OPINION

The price of inflation will be very high for Government of Zimbabwe

How many jobs were created in the Midlands province in the month of June 2019? Were there policies put in place, 12 or 6 months ago, in Midlands that can be referenced as explanatory to the job number...

By Chris Chenga | Published: 22 August 2019

LANDS & AGRICULTURE

Zimbabwe has potential to irrigate 2 million hectares: Shiri

Zimbabwe's land under irrigation has increased by 61.76% to the current 275 000 hectares from 170 000 hectares, with the country intensifying efforts to reduce reliance on rain-fed agriculture so as t...

By Staff reporter | Published: 22 August 2019

MINING & RETAIL

Falgold ceases gold production

Troubled mining group Falgold Zimbabwe published its delayed financial statements for the year ended 31 September 2018. During this period the group's net loss after tax widened by 609% to US$4.9 mill...

By Staff reporter | Published: 14 August 2019

BUSINESS NEWS

Smelly Dube scoops top UK award

GWERU-based private property developer Smelly Dube raised the Zimbabwean flag high at the ongoing African Achievers Awards International Lectures and Honours currently underway in Newington, United Ki...

By Staff reporter | Published: 16 July 2019

OPINION

Attack on Mugabe coup announcer exposes polarisation

LAST Friday, in an unprecedented move - Foreign Affairs minister Sibusio Moyo and his delegation to London - were attacked by a group of angry Zimbabweans in the English capital city.The unwarranted a...

By Editorial Comment | Published: 16 July 2019

BUSINESS NEWS

Kombi operators raise fares

COMMUTER omnibuses here have hiked fares following the latest fuel price increase.The kombis moved from $1,50 to $2 as operators moved to cushion themselves against the continuously rising costs.The f...

By Staff reporter | Published: 16 July 2019

POLITICS

'Devolution a disappointment'

The huge public expectations raised by devolved government in Zimbabwe have turned into disappointment, the Zimbabwe Coalition on Debt and Development (Zimcodd) has said, after government failed to av...

By Staff reporter | Published: 16 July 2019

POLITICS

Mnangagwa fumes over ivory, rhino horns

PRESIDENT Emmerson Mnangagwa has castigated foreign countries for what he termed interference in the way the country should manage its natural resources, especially the ballooning ivory and rhino horn...

By Staff reporter | Published: 16 July 2019
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