Zimbabwe’s trade deficit more than doubled to US$184.3 million in March this year from US$84.6 the previous month, despite a decrease in imports and exports, the Zimbabwe National Statistical Agency (ZimStat) reported on Monday. The report indicated that the country spent US$719 million on imports, a 1.5 percent decrease on the previous month’s US$729.9 million ..read more

Business Writer Zimbabwe’s milk production rose 21 percent to 27,3 million litres during the first quarter of 2024 from 22,61 million litres in the same period last year, latest data shows. It comes as the Zimbabwe Association for Dairy Farmers (ZADF) is expecting reduced feed stocks in the form of roughage (maize silage) and protein ..read more

Business Writer Impala Platinum (Implats), a leading producer of platinum group metals (PGMs) has announced that it may be forced to lay off some of its employees due to ongoing financial challenges. The company cited low PGM prices, rising inflation and global economic uncertainty as key factors squeezing profitability. Implats says cost-cutting measures implemented in ..read more

Business Writer The Zimbabwe Coalition on Debt and Development (ZIMCODD) has launched a new initiative to empower young people in the fight against corruption, enhance public finance management and their overall participation in the country’s economic discourse. The Strengthening Institutions and Youth Agency in Zimbabwe’s Accountability (#SIYA) project, aims to create a generation of “Integrity ..read more

Business Writer Banking group, NMB Holdings, is expected to cash in from its diversification efforts which will help cushion the bank from adverse impacts of the El Nino induced drought on agriculture and general disposable incomes. The bank increased its focus on diversifying revenue streams with ventures into technology solutions and expand property portfolio. “This ..read more

Tapiwanashe Mangwiro The ZSE All Share Index was up by 3,17 percent from 95.99 points to 99.03 in the week ending April 26, 2024 as the market began appreciating the new Zimbabwe Gold (ZiG) currency. The All Share Index was supported by recoveries in large cap counters such as OK Zimbabwe, StarAfrica and Delta. Total ..read more

Business Writer Zimbabwe’s real estate landscape presents an opportunity to expand housing options, driven by the national housing deficit and continued demand for accommodation among average citizens, according to a new report by Knight Frank Zimbabwe. Despite lack of affordable and long-term mortgages, some Zimbabweans are still building homes themselves, from low-income areas all the ..read more

Air Zimbabwe said on Friday it is now accepting payment in Zimbabwe Gold (ZiG), boosting confidence in the new currency. In a statement on X (formerly Twitter), Air Zimbabwe said the ZiG payments reflect commitment to adapt to the evolving financial landscape by offering stakeholders convenient payment methods. “As we integrate Zimbabwe Gold currency into ..read more

Business Writer CBZ Holdings (CBZ) has introduced a new remittance mobile and internet application between the United Kingdom and Zimbabwe that allows the receiver to pay bills or deposit into their nostro accounts without withdrawing hard cash first. In a statement the bank said: “Receive USD from the UK via the Zestful Innovative Knowledge-based International ..read more

Francis Gakanje Zimbabwe’s housing market witnessed a flourishing trend of privately funded developments, characterized by significant advancements and progress in various suburbs throughout the country. According to the Zimbabwe market update published by Knight Frank Zimbabwe, this was fuelled by an increasing desire for high end residential choices within the market and sustained demand outpacing ..read more