adminGOVERNMENT says the cash challenges bedevilling the economy will be overcome in the near future but only if the country accesses significant lines of credit and ramps up exports.
Apart from uncouth businesspeople who fail to bank money in contravention of the Reserve Bank of Zimbabwe (RBZ)’s Bank Use Promotion Act, Government says the boom in the manufacturing sector capacity utilisation has also ramped up pressure on the demand for foreign currency.
INDUSTRIALS
The Industrial Index went further down by 0.70 points (0,22percent) to close at 317.73 points.
Meikles lost $0,0399 to close at $0,2801 and Econet dropped $0,0192 to close at $0,8408.
Amalgamated Regional Trading (and Innscor) traded unchanged at $0,0698 and $1,0000 respectively.
Losses were offset by gains in First Mutual Holdings which went up by $0,0100 to $0,1950 and Barclays which closed at $0,0600 following a $0,0050 gain.
Delta also increased by $0,0025 to $1,500 while Old Mutual recovered $0,0018 to close at $4,5479.
Week-on-week the industrials lost 10.71 points (3,26percent).
MINING INDEX
The Mining index recovered 0.77 points (0,54 percent) to close at 142.24 points after Bindura increased by $0,0010 to $0,0550.
Falgold, Hwange and Riozim remained unchanged at previous price levels at $0,0380, $0,0220 and $1,2000 respectively.
The mining index gained 0.77 points (0,54percent) compared to week ending 15 December 2017.
Bongani Ndlovu
Online Reporter