Business

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Inflation rises to 785,55%

Zimbabwe’s inflation rose to 785,55% on an annualised basis in May, from 765,57% the previous month, the Zimbabwe Statistics Agency (ZimStat) said yesterday, laying bare the challenge of a weakening local currency and rising prices. BY Business Reporter Month-on-month inflation dropped slightly to 15,13% from 17,64% during the same period, …

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RBZ sweats over depreciating Zimdollar

The Reserve Bank of Zimbabwe (RBZ) measures to stem parallel market activities are proving to be futile as the Zimbabwe dollar continues to plunge on the forex parallel market. BY FIDELITY MHLANGA Even after the central bank clampdown on mobile money agents and ZIMSWITCH Instant Payment Interchange Technology (Zipit) transactions …

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US dollar allowances for civil servants

One of President Emmerson Mnangagwa’s key economic policies was a return to the Zimbabwe dollar after years of using the greenback, but on Wednesday the government began undoing this, announcing that civil servants will get a US dollar allowance, probably the first sign that dollarisation was once again on the …

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ZSA concerned with exorbitant sugar prices charged by retailers

Business / Local ZSA concerned with exorbitant sugar prices charged by retailers by Stephen Jakes The Zimbabwe Sugar Association (ZSA) has said it has received numerous enquiries on the availability of sugar in the local market and has also noted, with serious concern, that some retailers and wholesalers are trading …

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Impact of SME owner-manager characteristics on decision making

Pletnev and Barkhatov (2016) state that SMEs are playing a pivotal role in today’s economy. Due to this pivotal role, most countries in Europe have directed their focus to SMEs so that they have become the epicenter of the industrial revolution (Stanciu, 2014). Africa in general and Zimbabwe in particular …

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‘Cash-rich’ gold buyer invades Zimbabwe?

Business / Economy ‘Cash-rich’ gold buyer invades Zimbabwe? by Staff reporter <!– –> Confusion is reigning supreme in the gold sector over the existence of a licenced gold buyer who is reportedly paying more than the official price set by the country’s repository authority, Fidelity Printers & Refiners (FPR). FPR …

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TIMB grilled over unlicenced tobacco buyers

TOBACCO Industry and Marketing Board (TIMB) is in trouble after it emerged that it was allowing some unlicensed companies to buy tobacco crop from unsuspecting farmers. BY FIDELITY MHLANGA TIMB chief executive Andrew Matibiri failed to provide satisfactory answers to the Justice Mayor Wadyajena-chaired Parliamentary Portfolio Committee on Agriculture on …

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Sugar output seen up by 3%

ZIMBABWE’S sugar industry expects to produce around 455 000 tonnes of the product this season, up 3% compared to the same period last year, Zimbabwe Sugar Association (ZSA) chairperson Muchadeyi Masunda has said. BY MTHANDAZO NYONI In a statement following “numerous enquiries” on the availability of sugar on the local …

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Goobye interbank rate!…RBZ chief speaks on auction system

Business / Economy Goobye interbank rate!…RBZ chief speaks on auction system by Staff Reporter <!– –> FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing the foreign …

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