Economy Archives - Equity Axis

Economy

The upside to Mthuli’s ban of second-hand cars

A few weeks ago, when Finance and Economic development minister, Mthuli Ncube presented the 2021 national budget he through most people into a frenzy with his proposal to remove from the Open General Import Licence, second hand vehicles older than ten years.

Economy

ICTs key in growing the economy under NDS1

On the 16th of November 2020, the government launched first National Development Strategy (NDS1) which is a five year economic development plan meant to run between 2021 and 2025 and supplanting the Transitional Stabilisation Programme (TSP), launched in 2018, with a two-year life span.

Economy

Meikles’ HY Profit, Revenue Fall Amid Covid-19 Induced Decline in Sales Volumes

Revenue down 8%PAT adversely impacted by monetary loss exchangesThe Group opened a new store espite Covid-19 constraints Harare – Hospitality and retail group, Meikles Limited said its profit fell for the half-year ended 30 September 2020 as revenue slid due to COVID-19 induced...

Economy

Zimbabwe’s food imports spike amid drought effects

Food imports increased to US$458M in first 9 months from US$140.5MThe severity of food emergencies are expected to persist through at least March 2021Merchandise imports are estimated to have contracted by 4.3% due to COVID-19 impact HARARE – Zimbabwe’s food import bill has...

Economy

Zimbabwe poverty levels continue rising despite moderating inflation rates

TCPL for an individual stood at ZWL$3,750Household of 5’s TCPL up 4.42% from ZWL$17,957 in September Annual October inflation rate slid 188.2 percentage points Harare – Latest statistics released by the Zimbabwe National Statistics Agency (ZIMSTAT) shows that for the month of October, an...

Economy

National Development Strategy 1: A Zoom into GDP Growth Projections

Zimbabwe’s economy is highly susceptible to global developments and inwardly, the cost of doing business is high. HARARE – The Government of Zimbabwe on Monday launched a five-year National Development Strategy 1 (NDS1) for the period 2021-2025 marking an end to the Transitional Stabilisation...

Economy

FBC posts ZWL6.3 billion income

Total income grew by 59% to ZWL6.3 billionPBT increased eight fold to ZWL2.7 billionGroup’s statement of financial position increased by 19% to ZWL29.5 billion HARARE – FBC Holdings limited, riding on a strong growth in net trading income and net interest income, reported...

Economy

Africa’s digital economy to reach US$180 billion by 2025

Africa’s Internet economy has the great potential to reach $180 billion by 2025 according to the e-Conomy Africa 2020 report by Google and the International Finance Corporation (IFC). Currently, the digital economy contributes nearly $115 billion to the continent. The sector is expected to grow to...

Economy

Innscor’s bakery division suffers major decline in loaf volumes on depressed flour availability, COVID 19

Volumes down 36%Affected by flour unavailability in the first half of the yearWeighed down by COVID 19 in the second half Harare – Innscor’s Bakery division, experienced a 36% slump in loaf volumes in the year ended 30 June 2020 against the results...

Economy

Improved foreign currency supply positively impacts on AfDis operations

Quarterly volumes up 28%Revenue up 15%Operations smoothened by improved accessibly to forex facilitated by the Forex Auction Harare – Liquor manufacturer and distributor African Distillers Limited has posted improved volumes in spirits and ready-to-drink (RTD) operations as well as a jump in revenue...

Economy

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