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Tapiwanashe Mangwiro Senior Business Reporter THE Government mopped up a total of $305,9 billion using Treasury Bills in the nine months to September 30, 2023 which went towards partly financing the 2023 National Budget deficit and smoothing out cashflows. The intervention in the market helped to snuff out excess liquidity that would have been available to […]

Business Reporter Listed mobile network operator Econet, is projected to see improved operational efficiencies and earnings performance for financial year 2024 on the back of its capital investments into modernising network infrastructure. Econet is currently the biggest mobile network operator in the country, ahead of peers NetOne and Telecel. Market watchers opine that the company’s […]

Business Reporter Three Zimpapers senior employees from the Digital and Publishing Division (DAP), were last Friday honoured by financial advisory firm, Finking, during its National Business Awards ceremony held in Harare, for their contribution towards economic development. The Sunday Mail Editor, Victoria Ruzvidzo was honoured with the Leader In Business Integrity Award, DAP advertising manager, […]

Africa, the continent with the fastest-growing economy in the world, is poised for extraordinary growth. But several obstacles conceivably prevent the continent from reaching its fullest potential, not the least of which is the high cost of energy, particularly electricity. According to Yahoo Finance, the world’s electricity market is currently valued at over US$1,94 trillion […]

THE African Development Bank (AfDB) is spearheading green investment facilities in financial institutions in Benin, Ivory Coast, Morocco and Egypt to equip local banks with the technical capacity to attract climate finance from international and domestic investors. The move, through the African Green Bank Initiative, is due to a lack of climate finance made available […]

The World Bank’s projection of Somalia’s economic growth in 2023 has been cut down from 3,6 percent to a revised 2,8 percent. This is due to several reasons. However, the World Bank placed a huge emphasis on Somalia’s water system. This information was relayed via the bank’s latest edition of Somalia Economic Update, as seen […]

AfDB’s Adeshina and other African leaders, convening at this year’s global climate change conference in Dubai, have emphasized the necessity for a more comprehensive global response to Africa’s adaptation financing requirements. Speaking during the Adaptation Finance Summit for Africa at the ongoing COP28 in Dubai, United Arab Emirates, the leaders said climate adaptation funding, currently […]

Nelson Gahadza Senior Business Reporter Lithium mining companies have been given a deadline of March 31, 2024, to submit beneficiation plans as the Government seeks to tap into substantial mineral revenues that can be generated from the beneficiation of key minerals. The Government believes that Zimbabwe, with a significant resource endowment of platinum group metals […]

Business Reporter FBC Securities has applauded the Government’s decision to review the tax-exempt threshold on the withholding tax for agricultural commodities extended to smallholder farmers, announced by the Treasury last week Finance, Economic Econet Development and Investment Promotion Professor Mthuli Ncube proposed to reduce the withholding tax for smallholder farmers to US$5 000 per year […]

Business Reporter THE Government is negotiating external loans worth US$330 million to finance the national budget gap for 2024, according to a report on public debt released by the Treasury last week. It also intends to issue Treasury Bills and bonds amounting to $5,8 trillion to fund the gap. The estimated funding gap for the […]

Ethiopia’s central bank chief said the cash-strapped Horn of Africa nation has secured a UD$$1,5 billion debt relief agreement with creditors. The move temporarily eases Ethiopia’s financial burden as it seeks a wider funding program. The accord was announced on Wednesday by National Bank of Ethiopia Governor Mamo Mihretu and confirmed in a statement from […]

The senate panel has warned of reporting the oil and gas companies to the Economic and Financial Crimes Commission (EFCC) if found guilty of misappropriating the intervention loan. The Chairman of the Senate Committee on Gas Resources, Agom Jarigbe, issued the threat when the beneficiary companies appeared before the committee to explain how they utilized […]

Despite Kenya’s inflation, people in the country are using more cars now than they have in recent years, as indicated by the increase in the number of registered vehicles in the first nine months of 2023. In the period under review, the East African country had a 25 percent surge in registered vehicles. According to […]

The African Union (AU) on Thursday formally adopted the Common Africa Position on Asset Recovery (Capar) during the 45th AU Advisory Board Against Corruption (AUABC) meeting held in Arusha, Tanzania. Capar is an instrument for recovery of stolen assets from Africa. The AUABC Executive Secretary Charity Nchimunya said Capar is “already fully operational”. Nchimunya explained […]

Coach Prince Fitness Correspondent Do you want to feel better, move better and sleep better? Inactive people who start moving get the biggest bang for their buck. Experts say that any physical activity counts towards better health even just a few minutes! If you are over-weight, you may find other things difficult to do and […]