15.3 C
Harare
Friday, July 30, 2021
Total bank deposits stood at ZW$34.5 billion as at 31 December 2019, composed of ZW$22.0 billion (64%) in local currency and ZW$12.5 billion (US$785 million) or 36% in foreign currencyRBZ says it is strongly monitoring money supply to ensure that it does not cause inflation and/or bring volatility to the exchange...
Monthly inflation for January 2020 fell to 2.23% from 16.55% in December 2019The surprise drop was driven by the smaller increases in price of food and non-alcoholic beveragesAlthough the monetary authorities expects inflation to fall, the pressure emanating from exchange rate loss is too high and therefore increases outlook uncertainty
Over the past years, the Company’s performance has been shifting away from its core insurance business as it increased its exposure to other areas such as property development which took over a greater portion of the total income generatedIn 2017, the Group undertook a major restructuring exercise to refocus the business...
Amid the currency saga, domestic political tumult and seemingly labour unrest is causing further uncertaintyCZI has urged the government to demonstrate clarity on the currency position on whether the country is still under the multi-currency environmentThe currency saga has created a dislocation in the economy and it is threatening any efforts for economic...
Equity Axis projects annual inflation to peak to 841.1% by April 2020 and close the year at 364%These projections are anchored on drought, rising foreign debt, continued electricity shortages and currency depreciationMeanwhile, government projects monthly inflation to fall to a single digit inflation by the end of March 2020 while closing...
December’s net trade position third best in 12 yearsThe country has posted a net positive monthly trade position only four times since 2008The positive trade position has been attributed to import suppression rather than a growth in exports brought about by dearth in aggregate demandOpportunity cost of import suppression may be higher...
The company posted an inflation-adjusted loss of ZWL 1.8 millionRecorded net loss of ZWL 1.8 million compared to a profit of ZWL 110,723 in the comparative periodShareholders’ equity decreased by 8% to ZWL 20.9 million due to the net loss incurred ZSE-listed National Tyre Services (NTS) has...
AfDB: Africa lags behind in terms of global digital trendsAfrican digital economy expected to grow to over $300 billion by 2025AfDB: tech education, a must!China’s in-roads in I.T infrastructure development A sneak peek into the African Development Bank’s (AFDB) 2020 outlook shows that Africa lags behind in terms of...
USD/ZWL$ exchange rate breaches 1:25 on the parallel marketRBZ said the issue is now up for investigationWildly currency fluctuation create economic uncertainty and instability, affecting capital flows as well as threaten a spike in inflationThe fall in ZWL$ value was expected. Its reintroduction was mistimed and marred by uncertainty from the...
The annual inflation rate in Zimbabwe accelerated to 521.16% in 2019 while monthly inflation for December 2019 slowed to 16.6% from 17.5% recorded in the previous monthZimbabwe’s inflation is being pushed by a number of factors among them currency debauchery, fuel prices and imported food inflationThe MPC said it has directed...