Economy Archives - Equity Axis

Economy

Zimplats launches US$15 million cattle project

Cattle project in line with government’s livestock growth planProject to contribute 30% towards closing the current milk supply gapProject to target a herd of 10 000 cattle comprising of 5000 beef and 5000 dairy cattle Harare – Zimbabwe's largest platinum miner, Zimplats Holdings...

Economy

Government promises to crack down on fuel companies ‘abusing’ forex auction

Says it has a list of fuel traders that have been selling fuel exclusively in USDThis goes against the stipulations of SI 127Companies could have trading licenses terminated Harare – Cabinet says it has been furnished with a list of fuel companies abusing...

Economy

Monthly inflation picks up again in huge test for the RBZ, government

MoM inflation accelerates past government’s target to 4.18%YoY stood at 50.24%, down from 56.37% in July HARARE – Zimbabwe’s monthly inflation shot past the government’s target of 3% in what is proving to be a big test for the Central Bank and the...

Economy

Forex demand sets new record

The auction set a new record of $US51.69Number of bids received scaled up during the weekZW$ closed at ZW$85.90 Harare - The Reserve Bank of Zimbabwe (RBZ)'s weekly foreign currency auction registered a new record this past Tuesday as allocations amounted to US$51,69...

Economy

Zim’s trade deficit widens in June

Total imports were up 10%Exports increased by 3.2%Maize imports down to 0.03% HARARE- Amidst level 4 lockdown restrictions which have a pullback effect on economic progress and on the positive side the speed up in vaccination rollout, the country’s trade deficit widened from...

Economy

Hichilema wins over economically troubled Zambia

Opposition leader won the election with over 2.8 million votesHe inherits an economy scarred by debt and high inflationAims to achieve economic growth of 10% within five years of his election Harare – After five unsuccessful bids at presidency since 2006, Zambia’s main...

Economy

Demystifying IMF SDRs: the case of Zimbabwe

OverviewSpecial Drawing Rights An interest-bearing international reserve asset that acts as a potential claim on freely usable currencies held by the IMF, member countries and designated member organisations (prescribed holders). SDRs also serve as a unit of account in IMF financial statements and...

Economy

Petrol and diesel prices reviewed upwards

Price of petrol up 3.28% in ZWL terms and 2.9% in USD termsDiesel price up 3.86% in ZWL terms and 2.3% in USD termsZERA had skipped July fuel review due to developments on international oil market Harare – After skipping the monthly fuel price...

Economy

Diaspora remittances expected to hit record US$1.3 billion by year-end

Last year they were recorded at US$1 billionIn the first half of 2021 they tripled to US$747 millionPandemic forcing the use of formal channels in remitting Harare – Remittances from the diaspora to Zimbabwe are expected to reach US$1.3 billion by the end...

Economy

Bullish government upgrades 2021 growth outlook

HARARE – Thanks to a booming agriculture industry on the back of favourable rain patterns, growth in mining, manufacturing and electricity sectors, Zimbabwe has upgraded this year’s growth forecast and pledged to support economic stability experienced in the economy. Gross domestic product...

Economy

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