ZIMBABWE’S cost of living, as measured by the Consumer Council of Zimbabwe (CCZ), food basket for a low income family of six, rose to $14 438 in August from $14 256 in July, representing a 1,27 percent increase. This comes as prices of basic goods and services in the country increased in August although annual…
THE government has, through Statutory Instrument (SI) 223 of 2020, gazetted regulations for the resumption of inter-city travel, which will see operators applying for the routes they want to service to the Commissioner of Road Motor Transportation. This comes as the government is relaxing Covid-19 lockdown measures to allow for the resumption of various economic…
FBC Bank has announced the launch of Noku, a smart Digital Assistant who has been equipped with the capability of assisting clients with executing banking and insurance services on Whatsapp at any time of the day…24/7. Noku also allows anyone to open an FBC Instant Account or Mobile Moola wallet on WhatsApp without visiting a…
In response to the growing customer needs to transact in foreign currency, most banks have responded by upgrading their payments infrastructure to allow processing of nostro payments. This was further necessitated by the RBZ announcement through SI 185 of 24 July 2020, which permitted dual pricing in domestic and foreign currency. To date banks have…
ZIMBABWE Stock Exchange (ZSE)-listed mobile network operator, Econet Wireless, was last night crowned the best performing company on the local bourse at the Financial Gazette’s Top Companies Survey 2020 sponsored by financial services giant, Old Mutual Zimbabwe. Leading beverages manufacturer, Delta Corporation, was the first runner-up, while retail outlet OK Zimbabwe was crowned second runner-up….
Mastercard and Zimswitch, Zimbabwe’s national payment switch, have announced a partnership agreement to enable the modernization of Zimbabwe’s payment infrastructure, using Mastercard’s technology, products and services. This partnership will further support the Reserve Bank of Zimbabwe’s vision of a modernized and interoperable payment system that supports inclusive economic growth and boosts the digital economy. Dr…
THREE weeks ago, President Emmerson Mnangagwa unveiled the National Tourism Recovery and Growth Strategy, which targets to raise $600 million in rescue packages to prop up firms affected by Covid-19’s national lockdown and grow the industry to a US$5 billion sector by 2025. In an interview with our correspondent Shame Makoshori, Tourism minister Mangaliso Ndhlovu…
ZB Financial Holdings’ after-tax profit for the half year to June increased 375 percent to $1 billion largely driven by non-funded income which grossed $1,8 billion. During the interim period, the group’s total income amounted to $2 billion. The improved profitability resulted in earnings per share increasing by 239 percent to $607 cents compared…
IN THE wake of the Covid-19 pandemic, the Agriculture Marketing Authority (Ama) has embarked on an ambitious digitalisation programme to effectively execute its mandate as set out in the Agricultural Marketing Act. Ama recently appointed Clever Isaya to spearhead the digital transformation of agriculture marketing in the country. Daily News on Sunday Senior Staff Write…
STANBIC Bank Zimbabwe has rebounded from a $624 million loss posted for the half year last year to post an impressive $607,2 million inflation adjusted profit after tax for the half year ending June 2020. The bank, a subsidiary of Standard Bank Group of South Africa, attributed the performance to an improvement in its non-funded…
