HARARE – The current political infighting in South Africa (SA) – and other countries such as Zimbabwe – is exacerbating Africa’s woes, and political instability tag or perception, a leading continental lobby group has said. This also comes as Ladislas Agbesi’s Pan African Business Forum (PABF) has said Pretoria must recognise its role as a…
HARARE – The mining sector is seen growing 5,1 percent this year buoyed by positive performance from the gold, platinum, chrome, coal and nickel sectors, Finance minister Patrick Chinamasa said. Chinamasa on Thursday said the sector — which recorded an overall growth of 8,2 percent contributing 8,7 percent to Gross Domestic Product (GDP) in 2016 …
HARARE – The $250 million Dema Power Plant — set up to provide emergency power in the wake of electricity shortages due to low water levels in Kariba Dam — has been mothballed on the back of fuel challenges, it has been learnt. A short-term initiative implemented to alleviate the country’s power shortages, the diesel…
HARARE – Zimbabwe’s financial sector growth is anticipated to slow down to 1,7 percent after bankers smiled all the way to the bank and recorded a 42 percent profit surge last year, data from the World Bank shows. In its recently released economic update, the Bretton Woods Institution pointed out that the country’s financial services…
HARARE – The market is anticipated to trend upwards in the near future as institutional investors invest in the Zimbabwe Stock Exchange (ZSE), despite a lack of support from fundamentals, local analysts say. Equities firm, IH Securities (IH), said while the country faced prospects of firming inflation versus President Robert Mugabe government’s ballooning borrowings —…
HARARE – Zimbabwe has increased the limit of the amount of money consumers can use in online payment platforms amid an explosion of online and mobile payment transactions. “In line with the goal to encourage the use of electronic means of payments, the limits have been broadened to facilitate payments by the transacting public and…
HARARE – Zimbabwe’s inflation, which has been increasing in the last six months, has gone down slightly as the effects of cash shortages and depressed spending by consumers begin to be felt. Figures released yesterday by the Zimbabwe National Statistics Agency (Zimstat) indicated that prices increased by an average of 0,31 percent between June 2016…
BULAWAYO – Organisers of this year’s Mining, Engineering and Transport (Mine Entra) expo are optimistic that they will have a fruitful three-day gathering. Zimbabwe International Trade Fair (ZITF) general manager Nomathemba Ndlovu said there was a remarkable improvement on exhibitor turnout as compared to last year. The three-day event will run from tomorrow to Friday…
HARARE – The sale of Barclays Bank Zimbabwe (BBZ) continues to be dogged by controversy amid revelations that the deal was consummated through a share-swap and in which Barclays plc would get a stake in Mauritius’ FMB Capital Holdings. This also comes as opposition to the Malawian entity’s 42 percent acquisition of the listed lender…
HARARE – The recently-commissioned $150 million Victoria Falls International Airport has spurred brisk tourism business in the resort town. This comes after Kenya Airways and Ethiopian Airways — in April — introduced direct flights to Victoria Falls from Nairobi and Addis Ababa respectively. On the other hand, Rwandan Airlines, which introduced the Kigali-Harare direct flights…
