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Zimbabwe govt institutes mining sector audit
GOVERNMENT has sanctioned an audit on all mining companies operating in the country against the backdrop of massive revenue leakages and smuggling of precious minerals.Experts say Zimbabwe has...Published: 23 Apr 2023 at 17:46hrs | 438 | by Staff reporter
Zimbabwe records US$328mln in FDI
ZIMBABWE recorded USS327,9 million in foreign direct investment last year, an increase from USS237,5 million recorded in 2021. Despite the strong growth, analysts say the investment inflows re...Published: 12 Feb 2023 at 07:20hrs | 97 | by Staff reporter
Zimra records forex revenue upsurge
ZIMBABWE'S tax agency says United States dollar income and corporate taxes recorded strong growth during the quarter ending 31 December 2022 compared to prior comparative period as companies paid sala...Published: 04 Feb 2023 at 20:11hrs | 217 | by Staff reporter
Zimbabwe economy grew 9%
ZIMBABWE'S statistical agency says the economy grew by a staggering 8.5% last year from a decline of 7.8% in the prior year, exposing a wide discrepancy between official figures and those computed by ...Published: 23 Oct 2022 at 17:18hrs | 470 | by Staff reporter
African Mining Sector Set for Strong Growth in 2022
Johannesburg - 16 May 2022 - With mining companies currently enjoying high prices, exceptional production performance and robust supply chains, the mining team from Stanbic Bank's parent company, Stan...Published: 16 May 2022 at 11:52hrs | 710 | by Mark Buncombe, Head of Mining and Metals at Standard Bank Group
NMB hails economic stabilisation initiatives
LISTED financial services concern, NMB Bank Limited has hailed economic stabilisation efforts employed by monetary authorities saying such efforts have gone a long way to reduce year on year inflation...Published: 17 Apr 2022 at 09:13hrs | 114 | by Staff reporter
Economy expected to grow despite erratic rains
Old Mutual Investment Group believes Zimbabwe's economy may still register strong growth this year despite the erratic rains experienced in the country, which negatively affected farming.The i...Published: 16 Mar 2022 at 05:31hrs | 83 | by Staff reporter
Innscor shells US$70m on expansion
ZIMBABWE Stock Exchange-listed blue-chip, Innscor Africa Limited, has injected about US$70 million to consolidate its expansion operations, according to the group's chairperson, Addington Chinake....Published: 23 Nov 2021 at 05:58hrs | 283 | by Staff reporter
Why does the gambling industry boom in times of economic hardship?
There is no doubt that recent times have been tough economically for many countries around the globe. While some nations might have been facing hard times anyway, Covid-19 has really put a spanner in ...Published: 11 Oct 2021 at 14:01hrs | 146 | by Staff Writer
RBZ sees sustained inflation decline
THE Reserve Bank of Zimbabwe (RBZ) expects the annual inflation rate to keep falling until year-end, but has revised upwards its December 2021 target to between 36 percent and 53 percent, from 25 perc...Published: 03 Oct 2021 at 08:10hrs | 7 | by Staff reporter
Zimbabwe set for US$1,1 billion current account surplus
ZIMBABWE's current account is projected to register a stronger surplus position of about US$1, 091 billion this year, higher than the initial projection of US$611,5 million, the Reserve Bank of Zimbab...Published: 01 Oct 2021 at 07:52hrs | 2 | by Staff reporter
Zimbabwe foreign currency receipts jump to US$5bn
ZIMBABWE'S foreign currency receipts have risen by 32 percent to US$5,09 billion in the last eight months against US$3,85 billion received in the corresponding period last year. The bulk of th...Published: 09 Sep 2021 at 06:11hrs | 16 | by Staff reporter
'Demand for local currency working capital swelling'
STANBIC Bank Zimbabwe says its operations have remained resilient to macro-economic challenges bedevilling the country having posted an inflation adjusted profit after tax of ZW$1,2 billion for the ha...Published: 27 Aug 2021 at 06:32hrs | | by Staff reporter
Stanbic maintains steady performance in first half
Stanbic Bank has transcended the macroeconomic challenges bedeviling the country to post an inflation adjusted profit after tax of ZWL 1.2 billion for the half year to June 2021.The Standard B...Published: 26 Aug 2021 at 08:26hrs | 11 | by Staff reporter
Mthuli Ncube revises growth to 7,8%
Zimbabwe's economy is doing well with growth prospects strong and on track, despite the stalking shadow of Covid-19, leading Finance and Economic Development Minister Mthuli Ncube yesterday upgrading ...Published: 30 Jul 2021 at 07:25hrs | 8 | by Staff reporter
'Mnangagwa has fulfilled only 2% of 2018 pledges'
PRESIDENT Emmerson Mnangagwa's Zanu-PF government has fulfilled only 2% of its 2018 election promises, independent research body Sivio Institute has said.Statistics released yesterday by Sivio...Published: 15 Jul 2021 at 09:38hrs | 4 | by Staff reporter
Qatar Airways to fly into Zimbabwe for the first time
Qatar Airways joins a growing list of airlines flying into Zimbabwe further cementing the country's status as a safe tourism destination. The airline with a wide network of routes brings in th...Published: 22 Jun 2021 at 16:56hrs | 7 | by Staff reporter
Cash withdrawal limits, lending rates go up
THE Reserve Bank of Zimbabwe (RBZ) has increased withdrawal limits to $2 000 from $1 000 and reviewed upwards the bank policy and private sector lending rates as part of comprehensive measures to stre...Published: 19 Feb 2021 at 06:49hrs | 17 | by Staff reporter
Choppies posts positive results despite COVID-19 effects
THE Botswana-headquartered supermarket chain, Choppies Enterprises Limited, has posted positive results for the year to June this year from its southern African business despite the COVID-19 pandemic ...Published: 30 Sep 2020 at 07:30hrs | 28 | by Staff reporter
Zimbabwe tourism earnings surpass $1 billion
Zimbabwe's tourism receipts have breached the US$1 billion mark as the sector continues to register strong growth with expectations that the country will achieve its goal of generating at least US$7 b...Published: 19 Feb 2019 at 11:57hrs | | by Staff reporter
Net closes in on under-capitalised assurers
The Insurance and Pensions Commission (Ipec), is closely monitoring three under-capitalised life assurance firms - Evolution Life, Heritage and Fidelity Life - after the assurers closed the third quar...Published: 08 Jan 2019 at 20:58hrs | 201 | by Staff reporter
Re-dollarisation of economy: Wrong turn for Zimbabwe
There is an effervescence in the economy – an imperceptible but definite shift towards re- dollarisation of the economy.Initially a trickle, this will soon turn into a mighty tide in one dir...Published: 30 Dec 2018 at 10:06hrs | 1616 | by Joseph Mverecha
Trade deficit narrows to $127m
Zimbabwe's negative trade balance narrowed markedly in August this year, falling 42 percent to $127,2 million on the back of strong growth in exports, the Reserve Bank of Zimbabwe (RBZ) said in its mo...Published: 07 Nov 2018 at 05:43hrs | 149 | by Staff reporter
Innscor reports good performance in all business portfolios
INNSCOR Africa Limited posted a $48,6 million profit after tax in the full-year ended June 2018 from $34,4 million in prior period, as all its business portfolios reported good performance.The...Published: 01 Oct 2018 at 07:07hrs | 394 | by Staff reporter
Masimba foretells infrastructure boom, strong earnings
Masimba Holdings, a Zimbabwe Stock Exchange-listed contracting company, expects Zimbabwe's infrastructure sector to recover strongly in the outlook and drive its contracting business.CEO Canad...Published: 17 Sep 2018 at 07:14hrs | 867 | by Staff reporter
Remittance income drives Africa's economic growth - Report
A report launched by the Institute of Chartered Accountants in England and Wales (ICAEW) has said that despite an economic slowdown, most African countries are having a positive economic outlook. ...Published: 17 Sep 2018 at 06:46hrs | | by Staff reporter
Old Mutual investment returns on listed equities down
Old Mutual Zimbabwe (Old Mutual) has reported that profit after tax tumbled 40% to $53,9 million in the first half of 2018 from $89,3 million in the comparable period last year mainly due to a decline...Published: 23 Aug 2018 at 06:46hrs | | by Staff reporter
Old Mutual half year operating profit up 27%
Old Mutual Zimbabwe's Group CEO has announced, during the company's half-year analyst briefing, an operating profit of $34.3 million representing growth of 27% for the first half of 2018....Published: 21 Aug 2018 at 16:00hrs | | by Agencies
Zimbabwe boasts 13 million tonnes gold chest
ZIMBABWE has the second largest gold reserves per square kilometre in the whole world with 13 million tonnes of proven reserves of which only 580 tonnes have been exploited since 1980, Reserve Bank of...Published: 08 Aug 2018 at 06:13hrs | 2167 | by Staff reporter
Delta, Coca-Cola still negotiating over notice of termination
Zimbabwe Stock Exchange (ZSE) listed blue chip counter Delta Beverages says negotiations are still ongoing with the Coca-Cola Company following a notice issued last year to terminate its bottling agr...Published: 10 May 2018 at 21:07hrs | 4674 | by Staff reporter
Political, policy uncertainties major setbacks for new govt
POLITICAL and policy uncertainty stand out as the elephants in the room for the new government as it targets an ambitious economic growth rate of 4,5%, a figure far much higher than the 0,9% projected...Published: 19 Jan 2018 at 16:59hrs | 1064 | by Staff reporter
Greed taints Mugabe's legacy
AT Zimbabwe's Independence in 1980, President Robert Mugabe was feted worldwide for his vision, statesmanship, intellect and the policy of reconciliation.He was lauded for transforming what ha...Published: 17 Nov 2017 at 13:45hrs | | by Staff reporter
Zimbabwe likely to witness improved economic growth rates, says the World Bank
Zimbabwe is likely to witness improved economic growth rates in the short to medium term, the World Bank has said.In a report titled, Zimbabwe Economic Update, the first of its nature, the Wor...Published: 03 Feb 2016 at 12:18hrs | 2007 | by Staff reporter
Zimbabwe to import maize till 2020
A UNITED Kingdom-based research group, BMI Research, has predicted that Zimbabwe will remain a net importer of maize until at least 2020, as the country battles to overcome serious challenges in the a...Published: 21 Jan 2016 at 07:26hrs | | by Staff reporter
Africa tourism set for sustained growth
The hotel and tourism industry in Africa is beginning a period of sustained growth, according to the sector's leading experts gathered at the Africa Hotel Investm...Published: 05 Oct 2015 at 11:07hrs | | by APO
Mass Public Opinion Institute, Zim think-tank, produce ill-thought out report
The quality of our political leaders on both sides of the political divide is something that many Zimbabweans now readily admit is a serious problem. Sadly this lamentable state of affairs is not ...Published: 01 Sep 2015 at 06:54hrs | 1150 | by Wilbert Mukori
Growing inequality clouds Angola's expanding economy
Angola has one of the world's fastest growing economies. Its economy grew by 5.1% in 2013. As major public infrastructure investments in energy and transport kick in, its growth is projected to re...Published: 17 Oct 2014 at 20:08hrs | 2107 | by Nirit Ben-Ari
Tsvangirai threatens unrest, Zanu-PF threatens to unleash the army
MDC-T leader Morgan Tsvangirai on Friday said his party could roll out protests against President Robert Mugabe's government over its inability to improve a flagging economy.Tsvangirai has led...Published: 22 Aug 2014 at 18:03hrs | 3478 | by Reuters
Tsvangirai to lead anti-Mugabe protests?
MDC-T leader Morgan Tsvangirai on Friday said his party could roll out protests against President Robert Mugabe's government over its inability to improve a flagging economy.Tsvangirai has led...Published: 22 Aug 2014 at 14:40hrs | 3891 | by Reuters
Standard Bank report confirms strong growth in Africa's rising middle class
JOHANNESBURG - Africa has experienced substantial growth in its middle class over the past 14 years, according to a study by Standard Bank.The report,...Published: 19 Aug 2014 at 13:39hrs | 4207 | by APO
Nigeria has the potential to become a major economic force in the coming decades - Report
However, there is another side to the Nigeria story that has been overshadowed both by the recent headlines and the persistence of outdated beliefs and assumptions about Nigeria's economy. A new repo...Published: 24 Jul 2014 at 09:43hrs | | by APO
US tells DRC leader Joseph Kabila to step down
Kinshasa - The top US envoy to Africa's Great Lakes region called on Thursday for Democratic Republic of Congo President Joseph Kabila to respect a constitutional term limit and step aside when the c...Published: 06 Jun 2014 at 10:35hrs | | by Reuters
DStv subscription fees increased
MultiChoice will increase the monthly cost of its various DStv bouquets from April with the satellite pay-TV platform's most expensive offering, DStv Premium, set to rise from R625 to R665, but wit...Published: 04 Mar 2014 at 12:42hrs | 20720 | by Channel24
Mugabe clueless, stuck on the economy, says Biti
Seven months into the new Zanu-PF administration, the country is slowly but surely grinding to a debilitating halt while the economy sinks into a comatose position in the midst of clueless hand-w...Published: 15 Feb 2014 at 21:38hrs | | by Tendai Biti
Emirates spreads its wings across the Atlantic by announcing Boston
HARARE - Emirates, which flies daily from Harare to Lusaka and Dubai, is to launch a further transatlantic link with the start of flights to Boston from March 10, 2014.This will be the air...Published: 21 Sep 2013 at 14:45hrs | | by Ndou Paul
Foreign investors eager to do business in Zimbabwe
A packed house attended today's (Monday, June 3) Zimbabwe investor conference staged by the Imara financial services group, with both local and international attendance exceeding projections.N...Published: 03 Jun 2013 at 13:48hrs | | by Business reporter
MultiChoice raises DStv prices
MultiChoice is again increasing the monthly subscription fees for DStv subscribers from 1 April for the various bouquets, with the DStv Premium bouquet which features the most TV channels and high def...Published: 08 Mar 2013 at 10:53hrs | | by Channel24
Innscor revenue projected to top $345 million
FINANCIAL analysts Renaissance Capital have projected Innscor Africa Limited's revenue to increase by 8 percent to US$345 million in the first six months of its financial period to December 31, 2012....Published: 05 Mar 2013 at 04:39hrs | 1817 | by Business Reporter
PPC Zimbabwe celebrates its centenary and announces expansion plans
Portland Holdings Limited (PHL), PPC's Zimbabwe subsidiary, has announced its intention to construct a new cement plant to service the Harare and central Mozambique markets. The new plant will have a ...Published: 07 Feb 2013 at 10:40hrs | 3752 | by Business reporter
Africa's growth could rise to 7 percent by yr 2015
MOMBASA, Kenya - Africa's growth could rise to 7 percent by the year 2015 Driven by a rush of investors attracted by its drive to improve its infrastructure, the head of the United Nations Development...Published: 08 Aug 2012 at 10:07hrs | 1407 | by Reuters
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