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Browsing: zimbabwe
The ZSE’s 2020 research found that individual Zimbabweans made a meagre amount of contributions to the regional capital market. A few of the obstacles mentioned are a lack of understanding of the investment process and the notion that it is the realm and preservation of the wealthy in society.
According to an article by Mail and Guardian published May 25, 2022, this survey prompted the bourse to launch ZSE Direct, a product that would make access to the market straightforward even for first-time investors.…
The answer is in the law and the governance models that these countries approach. The way in which the governments of those countries approach the mining industry is imperative.
In South Africa, the natural resource curse is more pronounced in the sense that while the mining sector has made a few individuals fabulously wealthy, inequality in that country has meant that while the richest of the rich get richer, the poor get poorer.
How can governments approach the mining sector to ensure its development leads to broad-based and shared prosperity for all? The answer is the same. The answer is in the respective governments and the legal frameworks for the mining industries of those countries.…
Since the launch of VFEX in 2020, trading has mainly been dominated by institutional investors, and from the feedback received, retail investors would also like to participate in the VFEX. In the press release, VFEX CEO Justin Bgoni said VFEX Direct was mainly developed with retail investors in mind.
VFEX Direct will be accessible through the web portal and mobile application (Google Play Store and Apple App Store).
Investors wishing to participate through VFEX Direct will be required to hold an FCA (Nostro) account with any Zimbabwean bank.…
The shrinking economy and resulting unemployment have given birth to an informal economy that has spiralled out of control. Treasury and monetary authorities have been at pains to find ways they can tax the informal sector. The informal economy is difficult, if not impossible, to absorb into the formal economy or to include in the tax pool from which the government can draw revenue.
As the formal economy shrinks, so has Zimbabwe’s effective tax revenue stream, and this problem can only be arrested and mitigated by a growing economy.
An economy characterized by slow or negative growth makes it more difficult for the government to repair its finances. This is because there is a positive relationship between a country’s tax pool and the growth of the economy. A shrinking economy brings with it the added cost of having to provide social safety nets for the vulnerable members of its society.…
Invictus Energy received environmental impact assessment (EIA) renewal approval from the Zimbabwe Environmental Management Agency (EMA) for the Cabora Bassa project.
The renewal will be valid until July 2023 and permits the company, which owns 80 per cent of the project, to operate in accordance with Part XI of the Environmental Management Act.
Additionally, the renewal concludes the permitting requirements and enables the company to undertake activities in the field, including seismic acquisition and exploration drilling.…
The government later resolved that the state would use the city’s devolution funds forcing the Combined Harare Residents Association (CHRA) to approach the courts. The Combined Harare Residents Association (CHRA) also cited the city of Harare (CoH) and Geogenix B.V as a respondent in an urgent chamber application filed through Zimbabwe Lawyers for Human Rights (ZLHR).
CHRA is seeking to bar an order issued by Moyo on July 7 ordering CoH to stop all investigations into the Pomona deal and reverse its suspension.
They want the courts to declare that the directive by Moyo as well as the utilization of devolution funds to pay Geogenix B. V contractual obligations unlawful.
In a letter by Scanlen and Holderness addressed to Moyo dated July 18, the residents’ lawyers said the council had a right to govern its affairs in line with the Urban Councils Act.…
According to an article by BotsCrew, a WhatsApp chatbot is an automated software powered by rules or artificial intelligence (AI) and runs on the WhatsApp platform. People communicate with WhatsApp chatbot via the chat interface, like talking to a real person. It’s a set of automated replies that simulates a human conversation on WhatsApp.
In May 2022, WhatsApp opened the API for businesses of any size. Previously, it was available only for medium and large businesses, so smaller companies had to contact other providers to access WhatsApp API.
Today, any business can directly sign up or get started with one of the business solution providers to access a New Cloud-based API.…
- Zimbabwe Stock Exchange has been one of Africa's best performing stock markets during the years 2019 to 2021
- Zimbabwe's economy officially dollarized for the second time since 2009 when it first abandoned the use of the Zimbabwe dollar.
- The Zimbabwe Stock Exchange is home to some high quality companies that generate consistent quality returns.
- When dollarization first occurred in 2009 companies in Zimbabwe were left poorly capitalized and in need of fresh capital in hard currency.
- The need for fresh capital resulted in a flurry of rights issues from companies listed on the Zimbabwe Stock Exchange which for the most part were poorly subscribed leading to the dilution of existing shareholders who could not pursue their rights when dollarization initially occurred.
- This second phase of dollarization will be like the initial phase for investors who are not prepared for it but will also be a significant opportunity for those with
Zimbabwe’s economic and currency woes run much deeper than the finance minister can allude to. For starters, the country heavily relies on imports; it produces little in the form of manufactured goods for exports. This means that the country’s means of generating income in the form of foreign exchange consist largely of producing and selling raw goods with no value addition.
This phenomenon constrains the country’s ability to generate the foreign exchange it is in desperate need of to help underscore the value of its currency. This is perhaps the biggest stumbling block to the universal adoption and warm reception of the Zimbabwe dollar.
Zimbabwe’s citizens have had unpleasant experiences with the Zimbabwe dollar even before it collapsed in 2009. The country’s citizens have seen numerous bank failures with their savings and receiving no compensation for their losses. This was in 2004 when the banking crisis claimed the scalps of…
- In renewing the commitments to end Malaria and Neglected Tropical Diseases (NTDs) by 2030, Commonwealth heads pledged over $4 billion
- Heads recognised that global financial support to halt and reverse biodiversity loss in the ocean and on land remains insufficient
- Dedicating a ‘living land’ in respective countries would reinforce commitment to keep the rise in global average temperature below 2 degrees Celsius above pre-industrial levels
The week-long Rwanda-hosted Commonwealth Wealth Heads of Government Meeting 2022 (CHOGM) came to a close in Kigali on June 25, 2022.
The summit which is held every two years – last held in 2018 in the UK due to the pandemic – was themed “Delivering a Common Future: Connecting, Innovating and Transforming”, the first post COVID-19.
The summit was attended by over 50 heads of government and joined by business, philanthropy, royal and civil society leaders to reaffirm shared values and agree on actions