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Business Reporter FBC Holdings Limited (FBCH) and Standard Chartered Bank Plc have entered into an agreement for the acquisition of Standard Chartered Zimbabwe subject to the approval of the regulatory authorities, including the Reserve Bank of Zimbabwe (RBZ). The announcement was made today at Standard Chartered’s Headquarters in Harare, Zimbabwe by Sunil Kaushal, Standard Chartered […]

Business Reporter The Monetary Policy Committee (MPC) of the Reserve Bank of Zimbabwe (RBZ) held an ad hoc meeting earlier this week to discuss ways to stabilise the exchange rate and prices as well as support macroeconomic stabilisation measures recently announced by the Treasury. Measures announced by the central bank will further liberalise foreign exchange […]

Business Reporter BARD Santner Markets Inc, a fast-growing local financial institution, has signed an agreement with leading online payment platform InnBucks Microbank Limited to leverage each other’s strengths to boost market share in an increasingly competitive Zimbabwean remittance business environment. This comes hard on the heels of another deal signed by Bard and cash remittance […]

ByteDance’s TikTok aims to more than quadruple the size of its global e-commerce business to as much as $20 billion in merchandise sales this year, banking on rapid growth in Southeast Asia, according to people familiar with the matter. That would be a speedy increase from last year’s US$4,4 billion in gross merchandise value, which […]

Elton Manguwo The Zimbabwe National Water Authority has urged farmers to pay bills so the institution can continue to offer supply and also service the equipment at designated water catchments. This comes as irrigators are owing the water authority 23 percent of the total debt which is impacting irrigation development in the country. ZINWA director […]

Monalisa Chikwengo The Machingauta Community in ward 22 Gutu now has a solar powered irrigation system which is expected to improve agriculture productivity at their Tashinga garden. The solar powered irrigation system was funded under a three -year Climate Adaptation for Rural Livelihoods (CARL) project launched by Aquaculture Zimbabwe, in partnership with Oxfam. The project […]

Agriculture Commodity Prices – Mbare Market 07 June 2023 Product Description Price Potato/Pocket Chat US$3 Small US$4-US$5 Medium US$5-US$6 Large US$7.50 Extra large US$9-US$10 Tomatoes 30kg sandak US$19-US$20 Wooden box US$2-US$3.50 Plastic dish US$1-US$1.50 Vegetables Cabbage head US$1-US$1.20 Covo/bundle US$3 Rape/bundle US$2 Tsunga/bundle US$2 Beetroot/bundle US$1 Onions -10kg pocket US$13-US$14 Onions -bundle US$1-US$2.50 Onions -60kg […]

Oil steadied as investors weighed mixed US data on crude and petroleum stockpiles amid persistent concerns over the demand outlook. West Texas Intermediate futures traded near US$72 a barrel after gaining 1,1 percent Wednesday. Crude inventories at the Cushing storage hub rose for a seventh week, while gasoline stockpiles also gained, according to government figures.  […]

Carmakers who faced skyrocketing prices for lithium and other battery metals last year could increasingly adopt sodium-based cells in the future, helping to alleviate strains on raw materials as sales of electric vehicles surge, according to BloombergNEF. In a new analysis of the technology, BloombergNEF said it expects sodium to take market share from the […]

Oliver Kazunga Senior Business Reporter THE Agricultural Finance Company (AFC) plans to issue short-dated US$5 million agro-bills to finance this year’s winter wheat cropping season. In a public notice, AFC said applications will be for a minimum US$10 000 per batch. AFC Holdings is a State-owned one-stop shop for development finance, commercial banking, insurance and leasing […]

Business Correspondent Stanbic Bank Zimbabwe has called on mining stakeholders to work together to unlock the full potential of the sector and its value chain. The Standard Bank Group subsidiary’s chief executive, Solomon Nyanhongo said the mining sector had the potential to drive sustainable growth and development across Africa and beyond especially if key stakeholders […]

Oliver Kazunga Senior Business Reporter UNITED Kingdom-based mining group, Marula Mining, has expanded its target areas of interest in Zimbabwe to copper mining, as it searches for attractive near-term mining opportunities in the country. The group is already working on plans to establish a value-added lithium operation in Bikita, Masvingo Province through its local subsidiary, Muchai […]

Business Reporter The short-term insurance industry recorded significant growth and a major shakeup in the top insurance companies by capitalisation and asset size, the regulator of insurance and pensions reported in its 31 December 2022 industry report. The Insurance and Pensions Commission (IPEC), in its fourth quarter of 2022 industry report, highlighted that the short-term […]

Business Reporter As Zimbabwe rapidly adopted technology across sectors, the recently introduced Cyber and Data Protection Act, was inevitable as it is to regulate the use of technology in businesses, industry experts say. Digitalisation, in line with global trends, has resulted in an increase in cybercrimes. Cases of data breach, which is defined as a […]

A bout of Bitcoin turbulence caused by US Securities and Exchange Commission lawsuits against key crypto exchanges may be a precursor to short-term gains in the token, if history is any guide. The largest digital asset sank more than 5 percent on Monday, before recovering over 5 percent on Tuesday, as investors digested the agency’s […]