Tony Elumelu sponsors 21 Zim entrepreneurs

About 21 Zimbabwean entrepreneurs are among 1 000 young persons who will benefit from the latest round of the Tony Elumelu Entrepreneurship Programme’s (TEEP) $100 million fund. BY FIDELITY MHLANGA Nkosana George Mazibisa (right) receives the Most Impactful award from Tony Elumelu in Lagos, Nigeria, on Thursday last week TEEP …

Read More »

Brand Zimbabwe a hard sell, says business leaders

Former Confederation of Zimbabwe Industries president Busisa Moyo says Brand Zimbabwe is still a work in progress and is facing challenges that require a collective effort to surmount. BY KUDZAI MUCHENJEKWA “The product is not ready, the country is the product and it is not ready to be marketed, I …

Read More »

Financial markets tipped to remain volatile

ZIMBABWE’S financial markets are likely to remain volatile until nostro foreign currency accounts (FCAs) meet the demand in the real time gross settlement (RTGS) accounts, a local financial services firm has said. BY TATIRA ZWINOIRA IH Securities also said by separating the accounts into separate dedicated FCAs and electronic accounts, …

Read More »

Red Hat jumps, IBM shares dip

Reuters. — IBM Corporation’s $34 billion deal to buy Red Hat Inc drove shares in the small but fast-growing software maker 50 percent higher yesterday, reflecting the huge premium IBM is paying to ward off any potential challenger bids. At $175, shares of Red Hat were still trading around $15 …

Read More »

Low levels of agric productivity costly for Govt: Paper

Business Reporter The low levels of productivity in the agricultural sector necessitated Government to pay unsustainable high producer prices that have resulted in budget deficits amounting to several billions of dollars, this is according to the 2019 Pre-Budget Strategy Paper (Strategy Paper) that was prepared by the Ministry of Finance …

Read More »

Value addition adds shine to minerals

Africa Moyo  Senior Business Reporter Government’s insistence on value addition of minerals added shine to Zimbabwe’s export earnings last month, as sales from shipments of platinum group metals matte jumped 1 500 percent to $61 million. It was $3,8 million in the comparative period last year. This follows the commissioning …

Read More »

Banks fingered in US dollar scams

Tawanda Musarurwa Senior Reporter Market indiscipline in the local financial services sector necessitated the separation of Foreign Currency Accounts (FCAs) and real time gross settlement (RTGS) accounts, Finance and Economic Development Permanent Secretary George Guvamatanga has said. Appearing before the Parliamentary Portfolio Committee on Finance and Economic Development, Mr Guvamatanga …

Read More »

ED, business in candid talks

Africa Moyo Senior Business Reporter President Mnangagwa yesterday held candid discussions with captains of industry, retailers, bankers and consumers with a view to locate challenges and possible solutions to problems faced in production of goods and services. The no holds-barred discussions were held from 0830hrs to about 1230hrs at State …

Read More »

Zim’s data costliest in Africa: Report

The latest report by the Alliance for Affordable Internet (A4AI) says Zimbabwe has highest mobile data costs in the region at $25 per gigabyte. The Source The fifth edition of the annual report examines internet access trends and policies in 61 low and middle-income countries across the globe, including in …

Read More »

‘Free float exchange system catastrophic’

Golden Sibanda  Senior Business Reporter ZIMBABWE risks plunging into rampaging price inflation if it liberalises foreign exchange controls, according to the proponents of a managed exchange rate system. But critics of the system argue that fixing the exchange rate is only delaying inevitable price spiral — inflation. Zimbabwe’s annualised inflation raced …

Read More »