Old Mutual’s centre to jumpstart informal sector

ZIMBABWE Stock Exchange-listed financial services group, Old Mutual, says its $21,4 million state-of-the-art small to medium enterprises (SMEs) Eastgate Market in Harare would be opened next month. BY MTHANDAZO NYONI Speaking during the Zimbabwe National Chamber of Commerce annual congress held in Victoria Falls last week, an Old Mutual official …

Read More »

RBZ embraces blockchain tech

THE Reserve Bank of Zimbabwe (RBZ) has put into motion studies to investigate blockchain technology as it is a new developing global innovation. BY TATIRA ZWINOIRA RBZ governor John Mangudya told guests attending Alpha Media Holdings’ Banks and Banking breakfast meeting in Harare yesterday that the central bank wanted to …

Read More »

Banks to prioritise importers over depositors

BANKERS Association of Zimbabwe (BAZ) vice-president Benefit Washaya says banks were still to decide whether they should continue importing cash to distribute to the depositors considering that the money was not coming back to the banks. BY TATIRA ZWINOIRA Washaya made the remarks at the Alpha Media Holdings Banks and …

Read More »

Canning industry set for rebound

The canning industry in Zimbabwe is set for a rebound after the introduction of demand-driven bean cultivar needed for production of canned beans, an official has said. BY FREEMAN MAKOPA Department of Research and Specialist Services director Dumisani Kutywayo said the release of the new variety was a result of …

Read More »

RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an official has said. BY MTHANDAZO NYONI Speaking during a ZimTrade-Banks export awareness seminar held in Bulawayo yesterday, the central bank’s principal …

Read More »

RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an official has said. BY MTHANDAZO NYONI Speaking during a ZimTrade-Banks export awareness seminar held in Bulawayo yesterday, the central bank’s principal …

Read More »

Millers turn to NGOs for rescue package

Local millers have turned to international non-governmental organisations (NGOs) to secure $100 million required for the importation of rice, wheat and other grains amid a worsening foreign currency crisis. BY NDAMU SANDU Under the arrangement, the NGOs would pay for the importation on behalf of millers who would pick up …

Read More »

Wage growth ‘missing in action’

The weak wage growth that’s characterised global labour markets since the financial crisis has hit poorer workers most, compounding inequalities and fuelling dissatisfaction, according to the OECD. The Paris-based body said pay increases are “missing in action” even with rising employment, and any gains haven’t been equally distributed. In its …

Read More »

Voluntary disclosure

The Zimbabwe Revenue Authority (Zimra) encourages taxpayers to review their tax affairs and make voluntary disclosures where there is any income omitted from returns submitted or where there are any tax obligations that the taxpayer may not have complied with. The intention is to encourage voluntary compliance from taxpayers and …

Read More »

Business fails to take up export opportunities

Zimbabwean businesses are failing to take advantage of export opportunities in the region, leaving South African companies to exploit them, ZimTrade acting chief executive Allan Majuru told the NMBZ exporters breakfast meeting last week. He said that South African trucks were passing through Zimbabwe carrying exports to Tete Province in …

Read More »