Saturday, September 23, 2017
Martin Kadzere The National Social Security Authority (NSSA) intends to raise at least US$500 million by end of year by floating a bond to finance infrastructure projects, chairman Robin Vela said. NSSA would lead the exercise, which would also be participated by “various agencies” such as pension funds and insurance companies,...
Happiness Zengeni and Taurai Mangudhla Zimbabwean companies lack access to predictable capital-market funding at a large scale and as such are increasingly looking towards external markets.  Companies listed on the Zimbabwe Stock Exchange have raised nearly half a billion dollars for capital projects since dollarisation in 2009, an amount considered small...
Africa Moyo The Securities and Exchanges Commission of Zimbabwe (SecZim) believes the economy’s inability to attract massive capital inflows, coupled with cash shortages are the major drivers of firms seeking foreign listings. SecZim CEO Tafadzwa Chinamo said companies faced challenges accessing hard cash and making payments abroad to buy equipment and...
Martin Kadzere Zimbabwe could be paying huge premiums for infrastructure projects due to high country risk profile and poor contract negotiating capacity. Zimbabwe is largely using an Engineering, Procurement, Construction model to finance infrastructure projects, particularly in the energy sector, but critics believe most of the deals are coming at a...
Business Reporter Zimbabwe’s economy is looking strong on agriculture after a good rain season but Finance Minister Patrick Chinamasa has warned sustained economic growth would depend on discipline and structural reforms across sectors - a swim or sink scenario.  Zimbabwe’s economy is looking strong on agriculture after a good rain season...
By Golden Sibanda The Zimbabwe Revenue Authority (ZIMRA) is closing in on business rackets and dealers who have defrauded the government of over a billion dollars by avoiding paying tax on imports, including on massive fuel imports for resale, the organisation’s chairperson has warned. The state was losing potential revenue through...
Tinashe Makichi Finance and Economic Development Minister Patrick Chinamasa has implored Zimbabwe Newspapers’ newly launched exclusively business publication, Business Weekly, to portray the real unfolding economic story about  Zimbabwe. The Treasury chief said the newspaper should break away from a bandwagon of media outlets that seek to attract the attention of...
Happiness Zengeni and Tinashe Makichi Dubai-based investor Ali Albwardy offered only $35 million for Zimbabwe Stock Exchange listed Meikles Limited but there are discussions still taking place around specific individual units after talks for the takeover of the whole group collapsed. Well-placed sources told Business Weekly that talks between Meikles and...
Dumisani Nsingo Bulawayo Bureau Zimbabwe could have lost up to $77 million through exporting raw hides in the third quarter of 2016 as the country lacks capacity to beneficiate the raw material, a survey has shown. Leather Institute of Zimbabwe (LIZ) chairperson, Mr Cornelio Sunduza, said the Special Economic Zones (SEZs)...
A YEAR ago, it was a sleepy, penny stock that took all year for the price to rise by the same percentage as heavyweights such as Delta rose in a day. But CFI, an agro concern has become the centre of attraction as a bidding war has erupted between...