Markets

Markets

Fuel prices go up again

By Staff Reporter THE Zimbabwe Energy Regulatory Authority (Zera) Wednesday announced yet another increase in fuel prices at a time most locals now depend on fuel purchased in US dollars. In a statement posted on its Twitter handle Wednesday, Zera announced a litre of blend petrol has increased from $71.62 to  $93.15 while diesel is

PPC shares to remain suspended as ZSE opens

By Alois Vinga THE country’s largest cement producer, PPC Zimbabwe shares remained suspended when trading began on Monday on the Zimbabwe Stock Exchange (ZSE). In a statement PPC Zimbabwe said this was in line with the directive issued by Finance Minister Mthuli Ncube into the dealings on the ZSE. “A condition for the resumption of

Mbare Musika vegetable market now hotspot for Covid-19 – Minister

By Robert Tapfumaneyi MBARE vegetable market has been recorded as one of the hotspots for Covid-19, Information minister Monica Mutsvangwa said Monday. This, the minister said, came out of an analysis of Covid-19 hotspots that were made across the country. The analysis was meant to help facilitate the channelling of proper resources to the hotspots

Bread flour price to go up by 34%

By Staff Reporter THE price of flour is this week likely to go up by over 30% following the skyrocketing foreign currency auction-rate which is now chasing the parallel market, NewZimbabwe.com can exclusively report. The government, through the central bank, recently introduced a weekly foreign currency auction system in which companies bid for the exchange

Finance Minister Mthuli Ncube

Govt suspends duty on cheese

By Staff Reporter GOVERNMENT has, with immediate effect, suspended import duty on cheese until end of the year. The decision, made on the recommendation of Finance and Economic Development Minister Mthuli Ncube, was announced through Statutory Instrument (SI) 184 of 2020 published in the Government Gazette Friday. “With effect, from 1 January to 31 December

UK-Based Zim Truck Importer Establishes First Trucker’s Association

By Alois Vinga UNITED KINGDOM based Zimbabwean, Dyson Dzapasi trucks who imports haulage trucks for the southern African market has made strides by forming the first union of truckers in SADC, the Continental Trucks Association. Speaking to NewZimbabwe.com Business Friday, Dzapasi said he has made notable progress towards the association’s formation through engaging investors in trucking from neighbouring

10 Types Of Tourists Who Visit Nigeria

By Business Reporter Nigeria is the cultural hub of West Africa but there are many other reasons to visit the country. The cities are chaotic but safe if you’re careful. The energy and exuberance of the people of Nigeria is contagious and their art and music festivals are inspiring. Then you have breathtakingly-beautiful wilderness areas

Firm launches $660 million tobacco inputs scheme for smallholder farmers

By Robert Tapfumaneyi INDIGENOUS Ethical Leaf Tobacco (ELT) has launched an historic $660 million tobacco input scheme for smallholder farmers throughout the country. The project labelled, The Gold Class Scheme, will see long standing farmers receiving an improved package of inputs while a huge number of new contract farmers is expected to join in. Ethical

Property firms on decreased space uptake as Zim economy crumbles

By Alois Vinga COMPANIES operating in the property sector have bemoaned decreased space uptake owing to poor economic conditions prevailing in the country. Speaking recently, First Mutual Property’s (FMP) chairman Elisha Moyo, said performance remained under stress over the past year. “In 2019, the Zimbabwean property market remained subdued, characterised by high levels of voids.

12 Best Forex Brokers In Zimbabwe ( Reviewed and Tested )

Forex Trading in Zimbabwe – Overview     When considering the issue surrounding Forex trading and the legality thereof, Zimbabwe traders can rest assured in knowing that Forex Trading is legal in Zimbabwe, allowing them to proceed to the next step in becoming avid Forex traders by choosing a broker. Here is a list of

Minister Sekazi Nzenza

Nzenza admits price moratorium scuttled by unstable exchange rate

By Anna Chibamu PRICES of goods and services are likely to keep on rising as long as the exchange rate issue remains unresolved, Industry and Commerce minister Sekai Nzenza has warned. Nzenza told MPs during Wednesday’s question and answer session in Parliament that an earlier price rise moratorium between government and stakeholders in different sectors

International Banks Eye NSSA’s US$12m Stake In ZBH Takeover

By Business Reporter SEVERAL international financial institutions are eyeing more than US$12 million or 37.7% of National Social Security Authority (NSSA) stake in ZB Bank after the shares went under the hammer last week, it has emerged. NSSA announced it was seeking to dispose of its stake in ZB to raise capital to complete some

RBZ governor John Mangudya

RBZ Foreign Currency Auction Official Rate Climbs To 1:63

By Alois Vinga THE official foreign currency exchange rate Tuesday rose to US$1:63 at the close of business at the recently launched Reserve Bank of Zimbabwe (RBZ) forex auction system. Last week’s rate was at 1:57. The central bank’s report released after the auction shows that US$16.2 million was available on the market which saw

ZSE formally suspends trading following RBZ ban order

By Alois Vinga ZIMBABWE Stock Exchange (ZSE) has formally notified its stakeholders that trading has been suspended as a matter of urgency following a ban order by the central bank after recent allegations of economic sabotage by authorities. In a statement Sunday, ZSE chief executive, Justin Bgoni said the decision to halt operations was reached

RBZ governor John Mangudya

RBZ cautiously opens foreign currency trading system

By Alois Vinga THE foreign exchange auction trading system announced by the Reserve Bank of Zimbabwe (RBZ) commences this Tuesday and spells the end of government’s unpopular interbank market era. The new system announced by RBZ governor, John Mangudya last week aims to maintain a balance between stimulating productivity while eliminating reckless speculative behaviour which