HARARE – The International Monetary Fund (IMF) says Zimbabwe’s economic difficulties have deepened with conditions constrained by tight liquidity and negative inflation. IMF mission chief for Zimbabwe Domenico Fanizza, in a statement on the 2016 Article IV consultation with Zimbabwe and the third review under the Staff Monitored Programme, said government needed to take bold…
HARARE – The Reserve Bank of Zimbabwe (RBZ) yesterday capped bank and ATM withdrawals at $1 000 per card daily and also imposed limits on the amount of cash individuals can take out of the country from the current $5 000 to $1 000. RBZ governor John Mangudya told a news conference last night that…
HARARE – Zimbabwe’s largest telecommunications operator by subscriber base, Econet Zimbabwe (Econet), is set to consolidate its pole position in the country following the launch of a massive air time promotion. The promotion, dubbed “Econet massive bonus”, is the first of its kind in Zimbabwe and offers subscribers a staggering 700 percent bonus combo with…
HARARE – State-run pensions administrator, National Social Security Authority (Nssa), has missed its April 30 deadline to appoint substantive top management. In October last year, the institution embarked on a major management shake-up, which saw the departure of general manager James Matiza and four others. Matiza was immediately replaced by Hashmon Matemera, in an acting…
HARARE – The total value of transactions processed through the national payment system (NPS) declined by nine percent to $951,8 million from $1 billion in the third week of April, latest Reserve Bank of Zimbabwe (RBZ) statistics indicate. Real Time Gross Settlement (RTGS) transactions, the central bank said, “recorded a five percent decline from $790,61…
HARARE – Packaging firm, Nampak Zimbabwe Limited (Nampak), recorded a four percent increase in revenue for the six months to March 31, 2015 on the back of strong demand in focus areas. In a statement released yesterday, company secretary Keith Nicholson, said while the group’s profit before interest and tax was up on prior year…
HARARE – The Zimbabwe Stock Exchange (ZSE) recovery continued last week with the bourse’s market capitalisation rising 5,8 percent to close the week at $3,03 billion. Data from the bourse shows that at the close of business on Friday last week, the industrial index was 6,56 percent higher than prior week at 105,79 points as…
HARARE – The National Social Security Authority (Nssa) says it has embarked on a more detailed forensic audit on some investment decisions, which are believed to have prejudiced pensioners of millions of dollars. Nssa chairman Robin Vela on Friday said the pensions’ administrator believes that the previous James Matiza-led management could have fleeced the organisation…
HARARE – MBCA Bank (MBCA)’s, managing director Charity Jinya has been appointed Bankers Association of Zimbabwe (Baz) president deputised by FBC Bank (FBC) boss Webster Rusere. Jinya takes over from Agribank chief executive Sam Malaba whose two-year tenure expired this month. The seasoned banker has served as chairperson of the Institute of Bankers of Zimbabwe…
HARARE – The Zimbabwe Stock Exchange (ZSE) has delisted Pelhams and Radar after the two companies voluntarily asked to be dropped from the stock market. ZSE boss Alban Chirume yesterday said the two counters were removed from the bourse at the close of business yesterday. In terms of the ZSE Listings Requirements, Chirume said holders…
