Business

Business

NON-life insurers reported total Gross Premium Written (GPW) amounting to $131,59 million for the quarter ended March 31, 2019, reflecting a 74,73% increase from $75,31 million reported for the comparative period in 2018 driven by inflation, a report from the insurance regulator has shown. ...

South Africa’s rand was slightly weaker early on Monday, giving up small gains that had enabled it to pull back from an 11-month low as political uncertainty and a bleak economic outlook continued to weigh in. ...

At this time of year, Albert Njeru’s farm would usually be blanketed with shoulder-high rows of maize. ...

BULAWAYO textile and clothing giant, Archer Clothing Manufacturers, has so far invested about US$5,2 million on expanding its operations despite macro-economic challenges facing most companies in the country, the company’s managing director Jeremy Youmans has said. ...

ZIMBABWE’S poultry industry recorded a 6% slump in output, producing 21 million day-old chicks in the second quarter of the year due to increasing production costs, an official has said. ...

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Central African Building Society (CABS), a subsidiary of Old Mutual Zimbabwe, is shutting down four of its branches in the next two months as the financial institution streamlines business in line with the deteriorating economic environment. ...

Lands, Agriculture, Water, Climate and Rural Resettlement deputy minister Douglas Karoro has urged the private sector to partner government to boost local production for raw materials through contract farming. ...

THE Zimbabwe Energy Regulatory Authority (Zera) says the country could save about 300 megawatts of electricity if all energy consumers were to switch to solar water heating, use energy efficient appliances, adopt LPG or biogas and partake in the net-metering programme. ...

ZIMBABWE’S trade deficit contracted by 60% to $542, 3 million between February and June this year due to foreign currency shortages for imports as well as a drop in the budget deficit. ...

MetBank yesterday tendered about $37,3 million to the National Social Security Authority (Nssa), the value for the Treasury Bills (TBs) the bank was withholding as security in a fertilizer financing programme that has become a subject of corruption investigations. ...

Vaya has speeded the introduction of its new services, Vaya Carpool and Vaya Shuttle, in a bid to help ease the fuel and foreign currency crises in Zimbabwe. ...

Specialised financial services firm, Access Finance has expanded its footprint to Bulawayo and Victoria Falls as it seeks a truly national outlook. ...

The use of paper based transacting methods and its associated shortcomings that include but not limited to risk of loss of documents of title, delays due to movements of paper documents between different offices and different participants is slowly but surely fading away. ...

MORE than 50% of funeral assurance companies are on the brink of collapse amid revelations by the industry regulator that they are under capitalised. ...

Adam Molai, Environment, Tourism and Hospitality Industry minister Priscah Mupfumira, Robin Vela and Ozias Bvute are the individuals heavily implicated in the National Social Security Authority (NSSA) forensic report. ...

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FINANCE minister Mthuli Ncube has said setting up dry ports in Zimbabwe would spur economic activity through connecting the landlocked southern African country with the rest of the world. ...

INDEPENDENT power producer, Nyangani Renewable Energy, says foreign currency shortages as well as economic challenges dogging Zimbabwe were hindering its efforts to complete a solar energy project aimed at contributing 10 megawatts to the national grid. ...

ZIMBABWE’S life assurance sector after tax loss widened by 156% to $247,7 million in the first quarter of 2019 compared to the same time last year due to a combination of increased net claims coupled with declining investment income, an Insurance Pensions Commission (Ipec) report has revealed. ...

LOCAL financial services boutique firm IH Securities says it expects austerity and economic headwinds facing the country to persist after a plethora of new taxes were introduced by government in last week’s 2019 mid-term fiscal review. ...

Money plays an important role in society and creating wealth for one’s future. ...

FINANCE minister Mthuli Ncube was yesterday taken to task by captains of industry for suspending the production of annualised inflation figures, saying the policy move can trigger rampant speculation. ...

LAFARGE Cement Zimbabwe is committed to supporting the infrastructure development agenda of the country and is currently prospecting another affordable housing project in the Manresa area in Harare, which is set to kick off before year-end. ...

Consumer Council of Zimbabwe (CCZ) chairperson Philip Bvumbe says the new plethora of taxes introduced by Finance minister Mthuli Ncube would significantly weigh down consumers and further erode their spending power. ...

ZIMBABWE'S major power plant, Kariba Hydro Power Station, will likely be shut down next month due to continued critical low water levels, a development that will pave way for deeper power cuts in the country, an official has said. ...

PADENGA Holdings Limited (PHL) will acquire a 50,1% equity shareholding in local mining company, Dallaglio Investment Limited as it seeks to diversify its business. ...

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