THE Reserve Bank of Zimbabwe (RBZ) says it will announce policy measures to buttress stability of the auction system and exchange rate when it delivers the Mid-term Monetary Policy Review this week.
Monetary authorities, however, continue to reiterate that low production is causing a disproportionately high demand for foreign currency, which is putting pressure on the exchange rate.
RBZ Governor Dr
Experts have been telling us for many years that a worldwide pandemic was long overdue. But when the ball dropped on New Year’s Eve 2019, right around the time the world was hearing the first rumblings about a cluster of suspicious cases of pneumonia in Wuhan, China, did any of us think: “This is it! This is the year!” Probably not.
Still, while COVID-19’s speed and efficacy in spreading
The inflation rate in Zimbabwe has reached 837.53% on an annualized basis last July, TASS reported referring to the national bureau of statistics of Zimbabwe.
In July last year, this figure was 737.3%, the statistical office said.
The discount rate for the Zimbabwean dollar is currently 35.53% per annum, up from 31.7% in June this year. The Central Bank of Zimbabwe this week set the exchange rate
Regional markets boost Emeritus
Staff reporter
HARARE, Successful consolidation and claw back of participation on key group life business accounts and USD denominated business from the external market saw Emeritus ending the 5 months to May 2020 on a strong footing.
In a trading update, Zimre holdings, said despite the exchange rate distortions that fueled increases in claims, the claims ratio of
COVID-19 – A CATALYST FOR DIGITAL TRANSFORMATION
By Joice Benza
By the time the Covid-19 (the pandemic) struck, Digital Transformation which was driven by the fourth industrial revolution and disruptive technologies was at an advanced stage and just required a trigger to accelerate its pace. The pandemic presented itself as the handy trigger which has driven several transformation projects globally
Mtasa steps down from FMHL after 10 year tenure
Staff Writer
FIRST Mutual Holdings (FMHL) has made board changes with the resignation of Oliver Mtasa from the group’s chairmanship effective 07 August 2020, having completed his term of office.
The group in a statement noted that this was in line with the principles of good governance that require periodic rotation of directors and board revitalization.
The COVID-19 pandemic has struck again, with another insurance giant left reeling from its impact.
Zurich Insurance Group has released its interim 2020 results showing business operating profit of US$1.7 billion (around £1.29 billion) – a 40% drop from last year’s H1 result of US$2.8 billion (around £2.14 billion).
COVID-19 ushers in new normal for short term -insurers
Staff Reporter
HARARE, PREMIUM income flows into short-term insurance industry will be negatively affected by individual and corporate loss of income exacerbated by low production due to the covid-19 restrictions, liquidity challenges and loss of purchasing power among the many challenges.
Financial resources of most corporates will be directed
Insurance debt remains attractive, refinancing need drives opportunity
The debt issuances of insurance and reinsurance carriers remain an attractive option for investors even under the shadow of the Covid-19 pandemic and there could be more opportunity to come.
Insurance and reinsurance company debt issues, private or otherwise, remain an asset that certain insurance-linked securities (ILS) fund managers
Pension funds invests in US$8 mln hotel construction
Staff Reporter
HARARE, Local pension funds have funded the development of an USD8 million luxurious hotel in Victoria Falls, over and above an initial injection of feasibility funding, provided by an international investor as part of the National Tourism Recovery and Growth Strategy.
The Mbano Manor Hotel Victoria Falls which was officially opened