Business

HARARE – President Emmerson Mnangagwa’s government says it is committed to repay its debts with the international community. Central bank governor John Mangudya said in line with the new economic order, government is intensifying the re-engagement process with the international community to improve international relations and to resolve the external payment arrears to the remaining…

HARARE – Zimbabwe’s only cryptocurrency exchange, Golix, has reached a massive milestone after it cleared over 2 000 customer support tickets in less than two weeks. The company, which is known for allowing Zimbabweans to make international cross border payments easily and effectively, managed to achieve such an achievement when they increased their customer support…

HARARE – Econet Wireless Zimbabwe has apologized to its customers for the disruption in service experienced by some of its customers on Monday morning (February 12, 2018). A company spokesman acknowledged the network had experienced some challenges early on Monday morning, which had been resolved a few hours into the morning. “Yes, we experienced intermittent…

HARARE – The Reserve Bank of Zimbabwe (RBZ) will start conducting comprehensive financial stability stress tests on the banking sector beginning September 2018 as it seeks to bring stability to the troubled sector. Central bank governor John Mangudya said the tests were part of measures aimed at assessing impact and resilience of the financial sector’s…

HARARE – Zimbabwe’s largest platinum miner, Zimplats, has partnered with the Zimbabwe Agricultural Society on an ambitious artificial insemination programme to boost the country’s national cattle herd. Artificial insemination is the process of collecting sperm cells from a male animal and artificially depositing them into the reproductive tract of a female. The process allows the…

HARARE – Zimbabwe’s largest financial institution by assets, CBZ Holdings (CBZ), says it will leverage on its strong balance sheet to roll out sustainable life assurance services with guaranteed returns. The Zimbabwe Stock Exchange-listed group, which superintends over a range of financial services firms including CBZ Bank, a property unit and insurance services, said it…

HARARE – Zimbabwe export promotion body (ZimTrade) says local farmers should boost citrus production to meet increased demand from China. This was after the China Industrial International Group Zimbabwe (CIIGZ), which supports local business to access China’s $23 trillion economy, managed to get orders amounting to 45 000 tonnes of Zimbabwean oranges annually. ZimTrade regional…

HARARE – Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has vowed to keep the country’s inflation below four percent this year. However, the veteran banker has a tough job ahead of him as inflation topped 3,46 percent by end of December last year, with some market experts predicting that Zimbabwe’s year-on-year inflation is already…

HARARE – Zimbabwe’S financial institutions have recorded a 34 percent surge in profits during 2017 to $242 million from $181 million in 2016, despite tight liquidity and deteriorating economic conditions. Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said 18 out of the 19 operational financial institutions had posted profits in 2017, with the sector’s…

HARARE – The Diaspora Infrastructure Development Group (DIDG), in partnership with South Africa’s Transnet will next week deliver the first consignment of 13 locomotives and 200 wagons as part of the $400 million National Railways of Zimbabwe (NRZ) recapitalisation. DIDG executive chairperson Donovan Chimhandamba told The Financial Gazette that the team will use the event,…