Author: Albert Nangara

Albert is an experienced business writer specializing in stock exchanges, financial markets and technology. He has a deep understanding of the dynamics of the global economy and a keen interest in analyzing investment trends, market trends, and the impact of investments on stock prices especially in the Southern African region.

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According to an article by Newsday dated May 2, 2022, Zimbabwe’s fuel consumption increased to almost 1,2 billion litres during the 11 months to November last year, compared to just over one billion litres in 2020, data from the energy regulator showed.

In its market update, Zera said the country guzzled 1 152 198 301 litres during the period, 10% more than the 1 035 624 744 litres used during the same period in 2020.

Zimbabwe now has the highest fuel prices, not only in the Southern African Development Community (SADC) but also on the African continent according to globalpetrolprices.com.

In the same article, Consumer Council of Zimbabwe (CCZ) spokesperson Chris Kamba expressed concern over the impact of the fuel hike on consumers.…

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Gabon and Togo admitted into Commonwealth group of nations

Commonwealth along racial lines, but the body managed to forge a compromise at its Nigeria summit, appointing a seven-nation panel to monitor Zimbabwe’s progress towards improved democratic values.

President Emmerson Mnangagwa’s government applied on May 15, 2018, to re-join the grouping, a year after toppling Mugabe through a military coup.

According to an article by the Independent dated June 17, 2022, Scotland subsequently deployed a Commonwealth team led by Ghana’s former president John Dramani Mahama to observe Zimbabwe’s 2018 elections.…

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Zimbabwe’s Central Bank said the increase in its policy rate to 200 per cent from 80 per cent will take effect from July 1 after annual inflation hit almost 192 per cent this month.

The benchmark interest rate was last raised to 80 per cent in April from a previous 60 per cent.

“The committee noted that the increase in inflation was undermining consumer demand and confidence and that, if not controlled, it would reverse the significant economic gains achieved over the past two years,” central bank governor Dr. John Mangudya said.

The latest figures from the Zimbabwe National Statistics Agency (ZIMSTATS) showed Saturday that the country’s annual inflation rate reached 191 per cent in June. A new blow to the purchasing power of Zimbabweans, stoking fears of a return to the 2008 hyperinflation period where savings were wiped out.…

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According to an article by the Herald published on June 27, 2022, popular bullion coins include the American eagle, the Canadian Maple Leaf, the South African Krugerrand, the Isle of Man Gold Cat, the Australian Kangaroo, and the China Mint Panda Bear. They added that gold is a haven against inflation and a gold coin is made mostly of gold while most gold bullion coins are pure gold.

Meanwhile, in an article dated May 27, 2022, Bloomberg described the RBZ as the world’s most aggressive central bank. According to an article by Pindula News published on June 27, 2022, Zimbabwe’s former Finance and Economic Development Minister, Tendai Biti, said the Reserve Bank of Zimbabwe (RBZ) has outlived its usefulness and, therefore, should be abolished.

He made the remarks in response to a cocktail of measures introduced by the government to stabilize the economy. The main duty of the RBZ is …

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Fossil Mines is reportedly owned by Obey Chimuka, according to 263Chat Business.

According to a publication by New Zimbabwe dated June 7, 2022, the disposal of Holcim’s Zimbabwean shareholding follows prior disposals of Holcim shareholding in the Northern Ireland, Zambian and Malawian markets amid plans that the group is in the process of disposing of its Indian cement business. The firm told Bloomberg that they are constantly evaluating possibilities to align their portfolio with a vision to open new growth opportunities.

On January 25, 2022, the group announced the intention to dispose of its 76.45 per cent shareholding in LACZ as part of its strategy to divest from the cement manufacturing business before inviting interested bidders to submit their expressions of interest to its Financial Advisors, ABSA Corporate and Investment Banking in South Africa.…

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  • Stock broker Morgan and Co to launch Made in Zimbabwe  ETF on June 17, 2022
  • Made in Zimbabwe ETF to be listed by way of introduction
  • The ETF will initially contain Zimbabwean Manufacturers as constituents

Award-winning stock broker Morgan and Co to launch Morgan and Co Made in Zimbabwe Exchange Traded Fund (ETF) on June 17, 2022, on the Zimbabwe Stock Exchange (ZSE). The ETF is going to be launched on the local bourse by way of introduction. According to a presentation by the broker, the fund is set to be largely constituted by manufacturing companies listed on the ZSE, with exposure to other non-manufacturing counters. In addition, the fund will be an actively managed fund with the objective of providing superior returns.

An exchange-traded fund (ETF) is a basket of securities that can be bought or sold on a stock exchange the same way a regular stock can. According …

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According to Deutschland, German companies long concentrated only on South Africa, but this is changing. Over the past eight years, the Association of German Chambers of Commerce and Industry (DIHK) has opened not less than five new branch offices. Apart from South Africa, top investment destinations include Nigeria, Ghana, Angola, Tanzania, and Mozambique.

Alongside their primary business, German companies are also involved in numerous initiatives to support the African economy and combat poverty. Germany's Mechanical Engineering Industry Association (VDMA) has founded the "Skilled Workers for Africa" initiative in Botswana, Kenya, and Nigeria. Germany's successful dual vocational training model serves as an example in Africa. At the same time, Germans benefit from collaboration with local partners, who enable them to access new markets. Local shareholders are essential in some countries.

To strengthen their cross-continental network and promote a value and interest-based exchange, Konrad-Adenauer-Stiftung (KAS) and the Hanns-Seidel-Stiftung (HSS) supported by the…

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The National Association of School Governing Bodies’ general secretary, Matakanye Matakanye, told SowetanLIVE during an interview that many teachers were unemployed and the government should prioritize them over foreign teachers.

Matakanye also accused the government of failing to create a strong local capacity for specialist teachers.

“There are lots and lots of university graduates who are not working and we don’t get the department’s logic of taking people from outside our country when our people are not working. If this was happening five or 10 years after democracy, it would be understandable. It is unacceptable that the department of basic education is still getting educators from Cuba and Zimbabwe after 26 years of democracy,” he said.

Meanwhile, according to the Rwanda Education Board (REB), Rwanda is set to receive close to 500 Zimbabwean teachers by September this year. The teachers will be placed in polytechnics and higher learning institutions.…

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Africa's role in the world economy derives from its economic importance to the rest of the world in international trade and as a destination for international investment. Africa has recently become home to the largest free trade area in the world, both by area and by the number of countries.

As economies have been hard hit by the Covid-19 pandemic, the Africa Continental Free Trade Area (AfCFTA) holds economic promise for the continent. The AfCFTA comprises 55 countries with a population of 1.3 billion and combined GDP of about $3.4 trillion. Business leaders and observers regard economic and regional integration as essential for accelerating Africa's manufacturing, e-commerce, and digitization to reduce an over-reliance on imports, especially from China.

However, there is still much more to do as major components of the agreement still must be negotiated, between many countries and regional economic communities. Moreover, according to the IMF, removing non-tariff…

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WHEAT HARVESTING

Dangote also plans to launch an oil refinery that would produce 650,000 barrels per day. Currently, the Dangote Group is the second-largest employer in Nigeria after the federal government, and a new plant is a tremendous opportunity to replace Russian fertilizer imports with African jobs that create warehousing, transport, and logistics infrastructure that help to reduce poverty.

Global wheat, sunflower, and oil crude prices have soared to unprecedented levels. Africa is heavily reliant on food imports from both countries, and the Continent is already experiencing price shocks and disruptions in the supply chain of these commodities.

Over the past decade, the Continent has seen growing demand for cereal crops, including wheat and sunflower, which has been mainly supported by imports than local production. Africa's wheat imports increased by 68 per cent between 2007 to 2019, surging to 47 million tonnes.…

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