IPEC endorses policyholder security

The proposed Policyholder Protection Fund for the insurance and pension industry is a welcome development as it will help assure policyholders that they will receive compensation due to them upon the occurrence of an insured event, the Insurance and Pensions Commission (IPEC) has said. The insurance and pension industry regulator …

Read More »

‘Allow fuel retailers to sell in foreign currency’

FUEL shortages have intensified in recent weeks leading to debate over the sustainability of continuing to have the imported product sold in bond notes and the real-time gross settlement (RTGS) system or electronic dollars. BY FREEMAN MAKOPA Officially bond notes are pegged at par with the greenback, but the reality …

Read More »

ZSE turnover down 22% in November

TURNOVER on the Zimbabwe Stock Exchange (ZSE) dropped 22,37% to $118,03 million in November from $152,05 million in October as lower volumes were traded on the local bourse. BY TATIRA ZWINOIRA The total volume of shares that were traded dropped 51,33% to 153,88 million shares from an October high of …

Read More »

Zim seeks to improve wheat yield

ZIMBABWE is undertaking research to improve its wheat yields in order to reduce reliance on imports, a Cabinet minister has said. BY FIDELITY MHLANGA The southern African nation produces 158 100 metric tonnes of wheat per annum, which is just 40% of its 450 000 metric tonne requirement. The balance …

Read More »

Batoka: Chinese firm to meet ED

Golden Sibanda Senior Business Reporter A SEVEN-member delegation from China Gezhouba Group Company (CGGC), the main subsidiary of State-owned Energy China, will visit Harare to meet President Mnangagwa and Government officials, over the firm’s interest to be awarded the contract to build the 2 200 megawatts Batoka hydro-power project. The …

Read More »

Gold deliveries slump 44pc

Ishemunyoro Chingwere Business Reporter SMALL-scale miners have called on Government to consider paying 100 percent of gold deliveries in hard currency after deliveries to Fidelity Printers and Refineries (FPR) for November plummeted by 44 percent compared to the previous month. Small-scale miners are the country’s major gold producers after overtaking …

Read More »

Econet unit launches instant loan platform

Michael Tome Business Reporter CASSAVA Smartech banking unit, Steward Bank and Ecocash yesterday launched a platform where Econet mobile network subscribers will be able to open bank accounts through cell phones in a minute. Codenamed *236#Bank the initiative aims to exploit mobile phone penetration which now stands at 11 million …

Read More »

Forex shortages, inflation weigh on Innscor

Enacy Mapakame Diversified Industrial group, Innscor Africa Limited says gross profit margins during the first quarter of the 2019 financial year remained under pressure due to foreign currency and inflationary pressures, resulting in cost increases for both local and imported materials. In October, Zimbabwe experienced price increases and shortages of …

Read More »

Duly’s ready for agric season

Princess Ncube Motor company Duly Holdings Limited (Duly’s) is ready to supply farmers with equipment for the new agriculture season under their brand, New Holland, general manager Mr Elliot Shoniwa said yesterday. The firm also specialises in the retailing of Ford vehicles, UD trucks and a range of Mazda vehicles …

Read More »

Oil easies

LONDON. – Oil recouped some of its early losses yesterday, echoing a modest recovery in global equities, but concern about the outlook for global growth and evidence of yet more crude supply kept gains in  check. The Organisation of the Petroleum Exporting Countries, with partner countries such as Russia, meets today …

Read More »