HARARE – China has become the largest foreign investor in Zimbabwe after the emerging Asian giant poured more than $200 million into the country in 2014, latest figures show. This comes as the southern African country attracted a total of $545 million last year in foreign direct investments — a 36 percent surge from $400…
HARARE – Zimbabwe’s annual inflation rate is expected to improve in the last two months of the year from the current negative figures on the back of increased consumer goods demand during the festive season, a local economic think-tank has said. Zimbabwe Economic Policy and Research Unit (Zeparu) executive director Gibson Chigumira yesterday told guests…
HARARE – Zimbabwe is seeking at least $60 million to complete the construction of the Harare International Airport Road, Transport minister Joram Gumbo has said. Gumbo told journalists yesterday at the official opening of the road that after completing the first phase of the road, at a cost of $15,8 million government was now mobilising…
HARARE – Zimbabwe has signed a three-year contract with French-based satellite provider Eutelsat Communications to build the country’s digital terrestrial television (DTT) capacity, it has emerged. In a statement released yesterday, the Broadcasting Authority of Zimbabwe (Baz) chief executive Obert Muganyura said the new service is currently being tested with the system expected to launch…
MUTARE – Confederation of Zimbabwe Industries (CZI) has called for the enactment of a law that criminalises “side-marketing” to protect agricultural financiers. Side-marketing is when a farmer decides to sell their produce outside the contractual agreement after being supplied with inputs to grow the crop. Over the last decade, many financial institutions and corporates have…
HARARE – Zimbabwean companies have been urged to increase their regional footprint by exploiting the potential vast business opportunities offered by Namibia. Zimtrade chief executive Sithembile Pilime yesterday told delegates at the presentation of the Namibia Market Survey in the capital that of the total trade recorded last year, Zimbabwe had exported goods worth $8,8…
MUTARE – Industry has slammed government’s seizure of a controlling stake in Telecel Zimbabwe (Telecel) in a controversial $40 million deal, saying the whole transaction reeks of double standards since the State is supposed to be the regulator and not a player. This week, the cash-strapped Zimbabwean government acquired a majority stake in Telecel for…
HARARE – Zimbabwe’s insurance industry wrote $244 million in net premiums in the quarter to September 2015, representing a 12 percent growth from $223 million realised in the comparable period last year. Figures released by the Insurance and Pension Commission (Ipec) on Friday revealed that total expenditure from 11 Life companies and two reassurance companies…
HARARE – Zimbabwe has been ranked sixth in the world as the economy with the highest number of residents with a financial account who use mobile banking, data from the World Bank’s Global Financial Inclusion Database shows. According to the World Bank (WB) figures, Zimbabwe is on sixth position with 35,6 percent account holders making…
HARARE – Zimbabwe Stock Exchange-listed diversified concern, Innscor Africa Limited (Innscor), says it is excited by opportunities presented by the Namibian market. The group’s chief executive, Antonio Fourie, told businessdaily on Friday that the pan-African conglomerate was looking at various options and will take anything that suits the company’s growth strategy. “We are excited about…
