HARARE – Zimbabwean banks need to stop lending to government as their exposure to Treasury Bills (TBs) could work against the sector in the future, a local think tank has warned. In its 2018 Economic Review and Outlook, Econometer Global Capital (Econometer), warned that government expenditure increases had continued to far outweigh growth in revenue…
HARARE – Victoria Falls will soon boast a new luxury boutique called Mbano Manor Hotel, set to be launched in the first half of 2019, the Financial Gazette can reveal. The driving force behind Mbano Manor Hotel, Mati Nyazema, said the hotel was going to offer a unique and nature-based travel experience for the global,…
HARARE – Zimbabweans lived it up during the month of December last year in spite of the country’s liquidity challenges, latest data from the Reserve Bank of Zimbabwe indicates. In its December 2017 monthly report, the central bank said the total value of cash transactions was 17 percent higher at $245,92 million during the month…
HARARE – The Zimbabwe Stock Exchange has extended CFI Holdings (CFI) suspension from trading by an additional 30 days to conclude an investigation on the diversified conglomerate’s alleged bad corporate governance. In January this year, CFI was suspended from trading its shares on the ZSE platform for three months after the company failed to comply…
HARARE – The Zimbabwe Energy Regulatory Authority (Zera) said it will spend $13 million towards the construction of a new headquarters in Mt Pleasant. The new state-of-the-art two storey facility, which will resemble a hydropower station, was designed by Studio Arts, and is set to be constructed by a Chinese company, Nantong International Group that…
HARARE – Private equity, investment and advisory firm, Brainworks Capital (Brainworks), says its revenue in the year to December 31, 2017 increased 21,8 percent to $4,8 million from just over $4 million following a 28 percent revenue rise in the first half of 2017. The firm, however, said its headline loss per share increased to…
HARARE – The Zimbabwe Stock Exchange (ZSE) closed last week in the black as indices remained flat with the Top Ten Index marginally rising. The Top Ten Index was buoyed by gains in heavies Delta, Econet and Old Mutual, gaining a marginal 0,07 percent despite losses in conglomerate Innscor as gains in the trio managed…
HARARE – Government has started implementing the Southern African Development Community (Sadc) trade related facility (TRF) project to boost exports and improve the safety and quality of imports. The specific objective of the project is to promote the use of quality and sanitary and phytosanitary (SPS) infrastructure to improve the competitiveness and access of Zimbabwe’s…
HARARE – Maize seed producer SeedCo says local farmers have been failing to keep up with the productivity capacity of its seed technology with yield statistics for 2017 and forecasts for 2018 showing productivity below international benchmarks. SeedCo commercial agronomist Philip Matombo told The Financial Gazette last week that local maize farmers have been failing…
HARARE – Africa’s richest man Aliko Dangote is set to invest close to $1,5 billion in coal mining and power generation in Zimbabwe. Dangote’s team arrived in the country yesterday afternoon for a 10-day visit and is expected to visit Hwange to explore the site for coal mining and the establishment of a thermal power…
