Interest rates drop to maximum 12pc

Business Reporter THE Reserve Bank of Zimbabwe (RBZ) says it continues to engage banks over the cost of borrowing, as directed by Government, but contends that at current prevailing range of 6 and 12 percent; lending rates have dropped to levels comparable to the rest of the world. Central bank …

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Hwange Colliery boss suspended

Business Reporter HWANGE Colliery Company has suspended its managing director Thomas Makore to facilitate an investigation into allegations of insubordination, sources have revealed. But the company said the suspension had been necessitated by allegations of impropriety that have emerged following a dispute between “two company officials”. The Herald Business has …

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Zim must incentivise local content policy

INCENTIVES should be rolled out for financial institutions to lend to local investors to drive Zimbabwe’s local content policy, a new report has revealed. BY NDAMU SANDU IN ADDIS ABABA, ETHIOPIA Zimbabwe is working on a local content policy, which is expected to stimulate the use of local factors of …

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Golix traded $20 million, has 50 000 clients

ZIMBABWE’S cryptocurrency exchange, Golix, says it has traded more than $20 million to date and is looking forward to opening exchanges in more African countries as well as expanding the portfolio of services they offered. BY MTHANDAZO NYONI In a statement yesterday, Golix said it has been operational in Zimbabwe …

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$28m in benefits lie unclaimed: Ipec

THE Insurance and Pension Commission of Zimbabwe (Ipec) says pension funds have more than $28 million worth of unclaimed benefits, a symptom of lack of knowledge, which is one of the problems burdening the insurance sector. By Melody Chikono Speaking at the Zimbabwe Association of Pension Funds (ZAPF) annual congress …

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Empowering communities to evaluate their knowledge

eMKambo is increasingly meeting rural communities that have been schooled into valuing tangible assets like dams and tractors at the expense of intangible assets like knowledge on how to earn more value from those assets. By CHARLES DHEWA In agricultural communities where assets like irrigation schemes and roads have been …

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April inflation up by 0,03%

The inflation rate increased slightly by 0,03 percentage points to 2,71% in April, the Zimbabwe National Statistic Agency (Zimstat) has said, although sceptics think inflation could be higher, as the price of fuel has been on a steady rise in the past few months. BY FIDELITY MHLANGA In March 2018, …

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Banks to revive long term loans

Zimbabwe’s financial sector will soon revive long term loans for industry as the central bank is finalising affordable offshore credit line facilities with regional and global banks. It emerged at the one week regional meeting on regulatory issues in domestic financial markets, that Zimbabwe’s banks are being overwhelmed by huge …

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ZSE opens week stronger

The week started on a positive note for the Zimbabwe Stock Exchange (ZSE) as it edged 0.63 points higher to close at 103.87 points. Index Closing (points) Previous (points) Change (points) % change All share 103.87 103.24 +0.63 +0.61 Industrial 347.62 345.49 +2.13 +0.62 Top 10 105.94 105.09 +0.85 +0.81 …

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‘There’s need to rethink CBD property use’

There is need to rethink property uses in Harare’s central business district to match market trends and cushion the sector from growing voids, industry experts have said. This comes as commercial properties in the Harare’s central business district (CBD) have been recording increases in vacancy levels as companies move to …

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