Markets

Markets

Buy Zimbabwe urges inclusive research on expenditure patterns

By Alois Vinga BUY Zimbabwe (BZ) chief executive, Munyaradzi Hwengwere has urged government and other key stakeholders to conduct detailed research which will reveal the amount of money going towards purchasing locally manufactured products. Speaking at a function held to discuss issues affecting the uptake of locally manufactured products recently, Hwengwere underscored the need to

Zim’s refined platinum production up 1 percent

By Alois Vinga ZIMBABWE’s refined platinum production went up 1 percent in the first quarter of 2019, the World Investment Platinum Council (WIPC) 2019’s first quarter report has revealed. According to the council, supply of refined production went up 1 percent in the first quarter of 2019 up from minus 3 percent recorded in 2017.

ZSE pardons listed firms for failure to comply with IAS standards

By Alois Vinga THE Zimbabwe Stock Exchange (ZSE) has pardoned all listed companies which did not comply with the requirements of International Accounting Standard (IAS) during presentation of its latest financial results. ZSE appreciated the failure was triggered by government’s policies and was beyond their control. The equities market chief executive, Justin Bgoni announced recently

Tourism Minister Priscah Mupfumira

Zimbabwe targets Chinese tourism market

By Audience Mutema ZIMBABWE has set its sights towards tapping into the Chinese tourism market after opening a dedicated office in the Asian economic behemoth. The office manned by the Zimbabwe Tourism Authority was officially opened by Tourism Minister Priscah Mupfumira during a recent visit. Aimed at facilitating the growth of the sector, Mupfumira signed

Minister Mangaliso Ndlovu

ZITF 2019 ends on a high

Bulawayo Correspondent The 60th edition of the Zimbabwe International Trade Fair (ZITF) ended in Bulawayo on Saturday with preliminary survey results indicating that 90 percent of the exhibitors established new business links during the five-day business showcase. Addressing journalists on Saturday, Industry and Commerce Minister, Mangaliso Ndlovu said in terms of quality products and attendance,

Standing FMI Business Development Executive Patrick Muzondo and Ernst & Young UK director Hopewell Mauwa seated

Chance for Zim to woo Middle East investments into mining

By Staff Reporter INVESTMENT group, Emergent Capital Management, through its events management arm, Financial Markets Indaba (FMI) will host a mining investment conference positioning Zimbabwe as an investment destination of choice in the UK from June 25-26. While for years the group has hosted conferences focusing on Africa, Europe and the North America, this year’s

ZITF opens with Harare firms dominating annual showcase

By Business Reporter The 60th edition of the Zimbabwe International Trade Fair (ZITF) opens in Bulawayo this Tuesday with Harare firms dominating the country’s premier business exhibition. This was revealed by ZITF Company board chairperson Ruth Ncube while briefing journalists in Bulawayo Monday. A record-breaking subscription at 532 direct local exhibitors and 16 countries are

Minister Mthuli Ncube

Ncube promises to resolve tobacco farmers’ grievances

By Anna Chibamu FINANCE Minister Mthuli Ncube has pledged his immediate attention to concerns raised by tobacco farmers who are stranded at most of the tobacco auction floors in Harare due to non-payment of their produce. Ncube told NewZimbabwe.com on the sidelines of the country’s main independence day celebrations at the National Sports Stadium Thursday

VP Mohadi

VP Mohadi: Victoria Falls now too expensive for tourists

Matabeleland North Correspondent VICE President Kembo Mohadi Friday said government was concerned about exorbitant rates charged by hotels and tour operators for accommodation and other leisure activities which make the country an expensive tourist destination. This is despite the country being named one of the best trending destinations in the world by various tourism organisations

Beer prices go up again

Bulawayo Correspondent THE price of clear beer has gone up again, hardly a month after Delta Corporation Limited increased the asking price of the commodity by 100 percent following the company’s decision to sell some of its products in US dollars. According to the new prices, a 375 ml green bottle now costs RTGS$2.50, up

Tobacco selling season kicks off at a high of US$4.50 per kg

By Alois Vinga THE 2019 tobacco selling season kicked off in Harare Wednesday, with the highest selling price standing at US$4.50 per kilogramme, down from US$4.90 recorded on a similar day last year. Speaking to NewZimbabwe.com Business Tobacco Industry and Marketing Board corporate communications manager, Isheunesu Moyo confirmed the prices. “The selling season took off

CZI president Sifelani Jabangwe. Industry unhappy with Monetary Policy Statement

Industry criticises RBZ’s monetary policy for ignoring value loss and low exchange rate

By Alois Vinga THE Reserve Bank of Zimbabwe (RBZ) has been criticised for failing to deal with value loss in account balances and fixing an unreasonably low exchange rate in its Monetary Policy Statement (MPS).  According to a statement from the Confederation of Zimbabwe Industries (CZI) the policy also failed to address issues around people’s

Tobacco sellers urge immunity from 2 % mobile transfer tax

By Alois Vinga BOKA Floors managing director, Chido Nyakudya says the 2 percent mobile transfer tax introduced last October by government must not apply on all tobacco related transactions to avoid erosion on tobacco farmers’ incomes. “We are facing challenges with the 2 percent tax…and we are currently engaging the Finance Ministry over the matter,”

WorldRemit registers 30% monthly increase in CBZ transfers

WorldRemit, a leading online international money transfer company, has seen a rapid uplift in customers sending money to Zimbabwe using its guaranteed cash pickup service. Transfers sent for cash collection at CBZ Bank locations alone have risen by 30% per month. To make it easier for people living in urban and rural areas to receive