© ZIMBABWE’S funeral industry is registering significant growth despite the country’s challenging economic environment. Statistics from the Insurance and Pension Commission (Ipec) show that the funeral sector recorded a $25,20 million profit before tax in the half year to June 30, 2019, up from $1,97 million in the same period last year. [GoogleAd] “This was…
© MINES and Mining Development minister Winston Chitando, pictured, says the government is working on increasing coal production to ease power cuts and enhance industry productivity. Chitando told the business community at the Daily News Breakfast Forum yesterday that traditionally the country had been producing three million tonnes of coal annually, adding that with adequate…
© THE Industrial Development Corporation of Zimbabwe (IDCZ) says it has started taking applications from local industry players for funding under the Industrial Development Fund (IDF). The diversified state-owned conglomerate manages the fund as a revolving facility, “meaning that as other beneficiaries repay, the reserve being built becomes available to others”. [GoogleAd] “IDCZ is inviting…
© OCCUPANCY levels for commercial and office space in most central business districts (CBDs) in the country have significantly dropped due to worsening economic conditions, businessdaily can reveal. Zimbabwe is facing its worst economic crisis in a decade that has seen businesses contending with skyrocketing inflation, fuel and electricity shortages and lack of foreign currency…
© THE Insurance and Pensions Commission (Ipec) says only one out of 18 short-term insurers in Zimbabwe has complied with the minimum prescribed assets ratio in the first half of 2019. According to the Insurance Act, “every insurer shall in respect of the insurance business carried on by him in Zimbabwe, hold the insurance fund…
© SOUTHERN African countries are set to come up with measures to safeguard telecommunications users from electromagnetic field radiation. This comes amid fears that exposure to radiation from electromagnetic fields may cause cancer and other health problems. Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) director-general Gift Machengete, yesterday, told delegates attending a Communications Regulators…
© NYARADZO Group Chief Executive Officer (CEO) Mr Philip Mataranyika is of the firm conviction that contracts, whether verbal or written, are sacred in any field. [GoogleAd] He makes the point that despite the harsh economic environment which is adversely impacting the business, Nyaradzo customers have their word. In this Question and Answer, he responds to…
© THE Reserve Bank of Zimbabwe (RBZ) has granted NetOne a licence to operate a bureau de change as a way of increasing the number of participants in the interbank foreign currency market, other than banking institutions. [GoogleAd] This comes as the bureaux de change phenomenon is the fastest growing sector in the African financial…
© ZIMBABWE’S leather industry is on the brink of collapse after 26 companies left the country due to loss of competitiveness on the export market amid a litany of challenges caused by government’s overregulation. [GoogleAd] According to official statistics, the country’s leather industry production has declined by 90 percent with current production at 1,8 million…
© ZIMBABWE’S pensions industry reported a surplus of $1,16 billion in the half year to June 30, 2019 at a time pensioners are living in abject poverty. [GoogleAd] According to the Insurance and Pension Commission (Ipec), the recent surge in profits from $121,02 million reported for the same period in 2018, was mainly driven by…
