Economy Archives - Equity Axis

Economy

Resource-backed loans: Does Zimbabwe have an option?

Major tax revenue sources are thinly distributed across sectors and tax headsCountry’s unsustainable external debt traps the economy at growth rates below its potential Harare – In its March 2020 Article IV Consultation report, the IMF noted the gravity of Zimbabwe’s external debt...

Economy

Nedbank turns a profit in 2020 despite pandemic-squeezed operating environment

Post ZWL$127.3 million profit after taxOperating income grew to ZWL 3.4 billionSignificant digital enhancements undertaken in 2020 HARARE – Nedbank Zimbabwe Limited emerged from prior year setbacks, with an impressive financial performance for the year ended 31 December 2020.

Economy

Food Poverty Line Worsens 2.5% in March

FPL for person in March stood at $4,003TCPL was up 2.4%Worsening poverty line despite cooling inflation The cost of living in Zimbabwe is on the uptick, contrary to the downward growth in inflation recorded in recent months. The continued surge compliments a run...

Economy

Zim annual inflation further cools off in March

Annual rate cooled to 240.55 percent · Monthly rate went down to within government targets · RBZ set a bullish target of a 10 percent rate by year end Zimbabwe’s year-on-year inflation rate for the month of March came...

Economy

Zimbabwe’s gold exports hits the lowest in 2 years

Gold is earmarked to drive mining sector growth in 2021Gold exports decline trend stretching from 2020International prices easing on global mass COVID-19 vaccination rollouts Zimbabwe’s gold earning crushed to a 2 year low in January, marking a bad start to a year which is...

Economy

Zim’s GDP growth projections overly optimistic – Fitch Solutions

· Zimbabwe projected economic growth of 7.4 percent · Fitch says growth will only be 1.3 percent Harare – Research and analytics firm, Fitch Solutions says Zimbabwe’s real Gross Domestic Product (GDP) growth projection of 7.4 percent in 2021 is overly ambitious...

Economy

Falgold unraveled

Falgold unraveled Falgold terminated its 70 year ZSE listingMain asset suffered catastrophic failure in 2018Falgold failed to raise US$3 million on ZSE to recapitalizeMiner delisted to access more funding from New Dawn At the close of 2020, Falcon Gold delisted from...

Economy

Central bank maintains tight monetary policy

Harare - RBZ is targeting to reduce inflation from 348.59 percent recorded in 2020 to less than 10 percent by end of 2021. To achieve this target, the bank policy rate was raised from 35 percent p.a. to 40 percent p.a. with the expectation...

Economy

‘Air for forex’ – RBZ raises alarm over companies trading on the auction market without enough local currency

Some companies reported to be buying forex via overdraftsRules regulate that banks should check if their clients have enough local currency in their accounts to match bidsThis dealing could lead to increased reserve money in the economy Harare - The Reserve Bank of...

Economy

Cabinet oks resumption of sit-ins at restaurants at half capacity

Sit in operations to resumeDecision comes after lamentations by restaurant owners on the negative effects of the strict measures that were in place Harare – Cabinet on Tuesday approved the resumption of sit-in services in restaurants but at 50% of the sitting capacity...

Economy

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