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- businessweekly
- June 7, 2019
- 74 views
CBZ reports 43% income growth
CBZ Holdings’ total income jumped 43 percent to $83,4 million during the four months to April 2019, from $58,1 million in the year to December 2018. Group chief executive Blessing…
- businessweekly
- June 7, 2019
- 69 views
Economy to contract 3,1pc
The country’s economy is expected to contract 3,1 percent this year as activities remain subdued due to rising inflation and crippling foreign currency shortages, according to the World Bank.
- businessweekly
- June 7, 2019
- 84 views
Market forcing dollarisation: CZI
Zimbabwe’s largest industrial manufacturing lobby group, Confederation of Zimbabwe Industries (CZI), says the market is “forcing dollarisation” of the economy due to the fast diminishing confidence in the country’s local currency, the RTGS dollar, introduced by the Central Bank in February.
- businessweekly
- June 7, 2019
- 67 views
TBs issuance to start in second half
Zimbabwe is expected to start auctioning Treasury Bills in the second half of 2019 as a way of financing its fiscal deficit that according to the 2019 National Budget was expected to come out at $2,8 billion.
- businessweekly
- June 7, 2019
- 94 views
Miners demand action on outstanding impediments
Zimbabwe’s mining companies require over US$14 billion to sustain operations and ramp up production over the next five years, want Government to resolve several outstanding issues they say are constraining optimal performance of the sector, chief among them a fragmented fiscal regime.
- businessweekly
- June 7, 2019
- 39 views
Govt keeps eye on ill-gotten wealth
Proposed amendments to the Money Laundering and Proceeds of Crime Act will incorporate provisions for the High Court to issue out unexplained wealth orders, as Government moves to consolidate efforts to curtail financial and economic crimes such as tax evasion.
- businessweekly
- June 7, 2019
- 72 views
Hwange Colliery adopts new business model
AILING Hwange Colliery Company Limited says it is implementing a new business model to turnaround its operations as well as clearing legacy debts.
- businessweekly
- June 7, 2019
- 91 views
Powertel returns to profitability
Internet service provider (ISP), Powertel returned to profitability last year, recovering from a loss of US$3 million in 2017 to post marginal profit of US$263 000, despite a challenging operating environment.
- businessweekly
- June 7, 2019
- 77 views
When will US$ exchange rate stabilise?
The month of May 2019 was a very eventful month indeed in as far financial markets in Zimbabwe are concerned. Top among the events of the month was when two weeks ago, the Reserve Bank of Zimbabwe governor, Dr John Mangudya, unveiled a new set of measures to guide the fuel market.
- businessweekly
- June 7, 2019
- 112 views
And now for the good news
Despite the continued build-up of retained export earnings in nostro accounts, enough US dollars are starting to flow to the interbank market to make that market work. Delta is also providing the best independent evidence by its announcement that it had accessed adequate foreign currency through the interbank to restart production.