HARARE – Zimbabwe’s annual inflation for August has remained in the negative territory at 2,77 percent, official statistics released on Wednesday show. Figures released by the Zimbabwe Statistical agency (Zimstat) revealed that prices as measured by the all items Consumer Price Index (CPI) decreased by an average of –2,77 percentage points between August 2014 and…
HARARE – The African Development Bank (AfDB) says it will unveil funds to Zimbabwe aimed at clearing the country’s over $600 million debt. AfDB executive director, Sibry Tapsoba, yesterday told reporters that the regional lender had come up with a plan to help Zimbabwe settle its arrears, which have been hindering the country from accessing…
MEDELLIN – Zimbabwe’s Tourism minister Walter Mzembi has pledged to lead a strong lobby for the African Union (AU) to fully recognise tourism’s contribution to the continent’s economy by facilitating policies that help its growth. This also comes as the Masvingo South legislator has been re-elected chair of the United Nations World Tourism Organisation (UNWTO)…
HARARE – The Bankers Association of Zimbabwe (Baz) has warned government to stop prioritising certain investors at the expense of others. Baz president Sam Malaba said the same treatment awarded to Nigerian billionaire Aliko Dangote must be extended to all who wish to invest in Zimbabwe. “The figures are not speaking well about our treatment…
HARARE – Zimbabwe Stock Exchange listed diversified conglomerate, Meikles Limited (Meikles) has been ranked among top African companies by the World Economic Forum for its sterling contribution in the country. Meikles, a large conglomerate in Zimbabwe with over 100 years of history, is one of the few companies in the country which have continued to…
HARARE – The International Monetary Fund (IMF) has cut Zimbabwe’s economic growth forecast to 1,5 percent from the initial projection of 2,8 percent due to drought and declining international metal prices. IMF head of mission, Domenico Fanizza yesterday told journalists that the 1,5 percent growth was a “very cautious” figure in light of registered slowdown…
HARARE – Zimbabwe has recovered gold and diamonds worth $2,4 million from unlicensed dealers in the 11 months to August this year, official figures show. The Mines ministry said the minerals had been seized by the police from about 360 people, during the period under review. “Recoveries between September 2014 and August 2015 of gold…
HARARE – The Zimbabwe Stock Exchange (ZSE)’s benchmark industrial index declined by 5,25 percent in August 2015 and reached a three-year low of 135,43 points, owing to losses in heavyweight counters, an equities report has shown. The industrials last traded below current levels as far back as September 3, 2012 when it traded at 132,82…
HARARE – Zimbabwe’s mobile telephone subscribers grew by 5,5 percent in the first quarter of this year to 18,6 million from 17,6 million recorded as at December 31, 2014, latest official figures show. The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) in its latest report noted that active mobile subscribers marginally rose by 0,5…
HARARE – Zimbabwe is set to meet with multilateral creditors next month at the International Monetary Fund (IMF) and the World Bank (WB) conventions in Lima, Peru, to renegotiate the country’s external debt, a Cabinet minister said. Finance minister Patrick Chinamasa yesterday told journalists in the capital that the meetings were specifically set up for…
