Business
FIU cracks whip on errand traders
John Tanyanyiwa Staff Reporter The Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) has frozen accounts belonging to traders for various breaches. The FIU advised the nation in a press statement. “The Financial Intelligence Unit (FIU) has of late been receiving an increasing number of reports of some traders engaging in illegal business practices in […]
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‘Human capital a cog in driving national goals’
Zimbabwe’s quest to attain an empowered upper-middle income economy as well as achieving its national development goals hinges on having the right people with the right skills, President Mnangagwa has said. In a speech read on his behalf by Vice President and Minister of Health and Child Care Dr Constantino Chiwenga at the official opening […]
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IoCDZ honours tax expert Simbarashe Hamudi
Baker Tilly Central Africa’s tax partner Simbarashe Hamudi has been listed in the prestigious Institute of Corporate Directors Zimbabwe’s (ICDZ) 40 Most Influential Young Leaders in Zimbabwe. Hamudi is an executive committee member of the Zimbabwe Institute of Tax Accountants (ZITA) and a member of the Africa Tax Administration Forum (ATAF). Apart from that, Hamudi […]
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Old Mutual Zimbabwe Fintech Business Launches O’mari
The recently announced Old Mutual Digital Services fintech business under Old Mutual Zimbabwe Limited has entered the market as O’mari. O’mari is a business that will provide mobile money services, insurtech, investech, digital lending, e-commerce, payments, and digital products and services for the retail market. Guided by the strategic vision of ‘creating better everyday lives, […]
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African Sun projects uptick in business from elections
Hospitality group African Sun Limited says there are promising prospects of a business upturn buoyed by increased hotel bookings during the forthcoming general elections and positive impact of the removal of the Covid-19 restrictions. The hospitality industry is among the various sectors that were seriously affected by the global pandemic as countries imposed travel restrictions. […]
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Auction rate up to $1 888
The weighted average at yesterday’s foreign currency auction run by the Reserve Bank of Zimbabwe, the first pure Dutch auction with a pre-announced bundle of currency on sale, was $1 888,0119:US$1, which was 34,4 percent below the $1 404,8039 the previous week. The Reserve Bank announced last week that US$15 million would be available this […]
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Govt takes price madness head-on
Government, whose responsibility is to protect the consumer and ensure stability, will “take all measures necessary”, including painful ones if need be, to ensure price stability, the President has said. Business, he added, was seemingly squandering Government’s goodwill, privileges and incentives to profiteer and, in some instances, illicitly transfer funds “beyond our borders for stashing”. […]
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NMB record a 63.7% jump in customer deposits
John Tanyanyiwa Staff Reporter Diversified financial services firm, NMBZ Holdings (NMBZ) recorded a 63.7% increase in customer deposits in the first quarter ended 31 March 2023. The company informed stakeholders in a first quarter trading update. “The Bank has witnessed customer deposits grow by 63.7% from ZWL 53.2 billion as at 31 December 2022 to […]
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Rbz auction results – Zim dollar depreciates
The Zimbabwe dollar shed 16% against the greenback on the foreign exchange market yesterday. The rate was at US$1:ZW$1,404.8039 compared to US$1:ZW$1,212.5448 recorded last week. The central bank allotted a total of US$14,444,323.31 to industry. The biggest beneficiary was raw materials, followed by machinery and equipment. The small to medium enterprises forex auction was allotted […]
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RBZ confident of price stability
ABOUT $40 billion, some of which could have found its way onto the black market, has been mopped up from the market in less than 10 months through gold coins and gold-backed digital tokens, in a development the Reserve Bank of Zimbabwe (RBZ) expects to ultimately stabilise the Zimbabwe dollar and prices of goods and […]
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