© ZIMBABWE is seeking solutions to changing weather patterns that have significantly affected rural communities. [GoogleAd] This comes as extremely high temperatures and recurring droughts in the country are having negative effects on potable water table and firewood used by the majority of people living in rural areas. Rural Enterprise Trust of Zimbabwe head of…
© STATE-OWNED mobile network operator NetOne says it is planning to reclaim its market share by improving its product offering. [GoogleAd] This was after the company, together with Telecel Zimbabwe, experienced a decline in market share to 25,2 percent last year from 35,2 percent in 2017, according to figures released by the Postal and Telecommunications…
© RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says he is confident gold deliveries will increase in the coming few months after government addressed bottlenecks in the sector. [GoogleAd] This was after gold deliveries declined by 40,6 percent to 12,3 tonnes in the half year to June 2019 compared to 17,3 tonnes delivered during the…
© THE Reserve Bank of Zimbabwe (RBZ) has registered 45 new bureaux de change agents to operate in the country. Farai Masendu, the central bank’s exchange control division director, urged Zimbabweans to buy and sell foreign currency from the licensed operators. [GoogleAd] Some of the licensed operators include EcoCash, Ok Money Wave, Fredex Financial Services,…
© FALCON Gold (FalGold) says it recorded a $27,2 million loss for the six months ended March 31, 2019, compared to a loss of $1,7 million in the 2018 comparable period, casting the gold miner’s future into doubt. [GoogleAd] FalGold attributed the huge loss mainly due to foreign exchange losses amounting to $23 917 228….
© ZIMRE Holdings Limited (Zimre) has recorded a $117,6 million after tax profit in the half year to June 30, 2019 from $766 832 registered in the same period last year. [GoogleAd] Benjamin Khumalo, the group’s chairperson, attributed the massive jump in profitability to improved performance across the company’s units. “Overall profitability was anchored by…
© THE Zimbabwe Stock Exchange’s (ZSE) plunge, which was triggered by the currency reforms accompanying the return of the Zimbabwean dollar on June 24, has persisted with no end in sight. [GoogleAd] The stock market, which had rallied unabated since the start of the year, has lost $9,71 billion since the government gazetted Statutory…
© Government’s decision to reintroduce the Zimbabwean dollar has negatively affected the insurance sector, resulting in an increase in complaints over late payment of claims as well as the undervaluing of insured vehicles. [GoogleAd] Finance minister Mthuli Ncube in June made the local currency the sole legal tender, banning the multi-currency system, though many insurance…
RENOWNED economist Gift Mugano yesterday said the country is misusing foreign earnings by importing unnecessary items that can be produced locally, hence paralysing the economy. This comes amid findings by Zimstat that last year the country received more than US$6,3 billion in foreign currency inflows compared to US$5,5 billion in 2017, representing a 13,9 percent…
© AXIS Solutions, an information communication technology (ICT) management solutions provider, says technology is key to minimising operational costs in an environment characterised by hyperinflation. Zimbabwe’s last reported inflation rate was recorded at 175,66 percent in June of 2019, at the same time, the local currency has lost more than 340 percent of its value…
