Category: Finance & Economics

All-out war on black market…New measures for mobile money operators  0  May 31, 2020 1:00 PM Source: All-out war on black market…New measures for mobile money operators | The Sunday Mail Kuda Bwititi Chief Reporter Government is introducing measures to enforce discipline and deal decisively with illicit financial activities that have prompted the plunge of the local currency …

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Digital Agriculture Benefits Zimbabwe’s Farmers but Mobile Money is Costly  0  May 28, 2020 9:45 AM Source: Digital Agriculture Benefits Zimbabwe’s Farmers but Mobile Money is Costly | Inter Press Service In recent years, Zimbabwe has witnessed a rapid growth in the use of digital agriculture but uptake of modern technology is capital intensive for farmers. A communal …

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Govt to unveil price stabilisation measures  Chronicle 28/5/2020   Shoppers at a supermarket in Bulawayo yesterday Nqobile Tshili/Andile Tshuma, Chronicle Reporters GOVERNMENT will soon announce measures to stabilise prices of basic commodities while arresting inflation as consumers’ buying power continues to drop. While prices of basic commodities are constantly increasing, salaries remain stagnant. Basic commodities …

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Rutenga readies for dry port Herald 25/5/2020 From George Maponga in Masvingo The face of Rutenga in Mwenezi District is fast changing with the growth point undergoing rapid expansion as it reaps huge benefits from its designation as a dry port. The Second Republic, led by President Mnangagwa, wants to expedite opening of a dry …

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Tongaat shares dive  Herald 15/5/2020   Shares in sugar producer Tongaat Hulett fell by nearly 17 percent on Tuesday morning following the announcement that the sale of its starch business to a subsidiary of Barloworld had hit a snag. Tongaat had announced in February that it would be selling its starch business to the KLL …

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CZI calls for two-tier forex exchange rate Herald 15/5/2020   Golden Sibanda Senior Business Reporter Industrial lobby group, Confederation of Zimbabwe Industries (CZI), has proposed the adoption of a two-tier exchange rate management regime, formed from the combination of floating and crawling peg systems, to facilitate formal access to foreign currency by businesses. The lobby …

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Government avails stimulus package details Chronicle 5/5/2020   Minister of Finance and Economic Development Professor Mthuli Ncube Oliver Kazunga, Senior Business Reporter GOVERNMENT yesterday released details of the $18 billion Economic Recovery and Stimulus Package aimed at reinvigorating the economy following slowdown induced by Covid-19. The bulk of the money is going towards the agriculture …

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Agribank predicts income decline Herald 30/4/2020   Agribank Senior Business Reporter State agriculture finance institution, Agribank, expects its 2020 income to decline on reduced customer activities due to the negative impact of the Covid-19 global pandemic that has paralysed world economies and disrupted supply chains. This comes after the national agriculture support bank romped to …

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Agribank profit jumps 155pc Herald 28/4/2020   Agribank Business Reporters The Agriculture Bank of Zimbabwe Limited (Agribank) recorded a 155 percent profit of $33 million in historical terms for the year ended December 31, 2019 from $13 million recorded the previous year, despite the challenging economic environment. The year 2019 was a tough year for …

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Business wants interest rate cut    Herald 22/4/2020 Tawanda Musarurwa Senior Business Reporter Business has called on the country’s monetary authorities to revise the interest rate from the current 35 percent to 20 percent to help economic players cope with the effects of the coronavirus (Covid-19) pandemic. Earlier in January Reserve Bank of Zimbabwe (RBZ) governor …

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