ZIMBABWE will remain in recession averaging real Gross Domestic Product (GDP) of -1,2 percent over the next three years, a regional think tank has said. In a quarterly update on Zimbabwe, NKC African Economics said the southern African nation faces a set of complex economic issues, as political fragilities have seen the economy come undone…
SASAI, the all-in-one mobile application from Cassava Fintech International (CFI), has incorporated almost 50 African languages — including Shona and Ndebele — and a total of over 80 languages across the globe. The language feature, called SASAI Translate, which includes Shona and Ndebele, was unveiled at a press conference held in Harare yesterday. Sasai chief…
GETBUCKS says it is geared to grow its customer base despite the current harsh economic environment being experienced in the country. Zimbabwe is struggling with one of its worst economic crises in a decade that has seen poverty levels rising to astronomical levels in the last two years after inflation ravaged workers’ disposable incomes and…
STANDARD Bank of South Africa Limited has issued its first ever green bond, via private placement with IFC, a development finance institution focused on the private sector, part of the World Bank Group. Stanbic Bank Zimbabwe’s parent company says that this is a 10-year facility with the express purposes of raising capital for use in…
TONGAAT Hulett Zimbabwe (Tongaat) says it continues to face logistical challenges in the supply of imported critical inputs, spares and services, emanating from shortages of foreign currency in formal banking channels. The country’s largest sugar producer has previously said it is looking at extending farming operations to support its export strategy which will help reduce foreign-denominated…
ZIMBABWE Platinum Mines (Zimplats) says it improved its mined tonnage by nine percent to 3,6 million tonnes for the six months ended December 31, as a result of improved fleet productivity and additional tonnes milled at the Mupani Mine, which is under development. Development of Mupani Mine replaces Zimplats’ two older mines, Rukodzi Mine and…
THE Zimbabwe Stock Exchange (ZSE) has launched a training institute to deliver special skills to market participants. The institute was officially launched by Canaan Dube, the chairperson of the Association of Listed Companies. “The mandate of the ZSE training institute is to deliver specialised training to stakeholders on various capital market subjects, which include ZSE…
THE Competition and Tariff Commission (CTC) says it approved three mergers during the second half of the year 2019. CTC said it assessed and approved the acquisition of 41,07 percent shareholding by SSCG Africa Holdings, 100 percent shareholding of Cut Rag Processors Private Limited by Gold Leaf holdings Limited and a post-merger between Intercape Ferreira…
THE Confederation of Zimbabwe Industries (CZI) Matabeleland chapter has roped in tertiary institutions to conduct a census for all operational companies in the region as it moves towards engaging government to tackle deindustrialisation. CZI Matabeleland Chapter president Shepherd Chawira said the census, which began in November last year, would be completed within six months. Chawira…
A SEVEN-member delegation of executive directors from the African Development Bank (AfDB) has met President Emmerson Mnangagwa to appreciate progress in ongoing political and economic reforms, according to a statement released on Wednesday. AfDB said its officials also met ministry representatives, civil society, private sector and multilateral financial institutions who briefed them “on the current…
