Cabinet approves amendments to Deposit Protection Corporation Act
Staff Reporter
ZIMBABWE’s Cabinet yesterday considered and approved the Principles to amend the Deposit Protection Corporation Act [Chapter 24:29] as presented by the Minister of Finance and Economic Development.
According to the cabinet minutes, the amendments to the Act will provide a governing legal framework for banking institutions
Insights From the Field: The Impact of COVID-19 on Insurance Companies
“Despite the difficulties, most insurers shared that they would retain an appetite for agriculture insurance”
HARARE, (Global Index Insurance Facility) – To understand the impact of COVID-19 on agriculture insurance operations, GIIF conducted a survey with 11 of its implementing partners in Sub-Saharan Africa and
Old Mutual remain suspended as ZSE resumes 03 August
Staff writer
HARARE, The Zimbabwe stock exchange saga has now sucked in brokers, asset managers and share market investors as the Financial Intelligence Unit concludes investigations on the alleged malpractice on the bourse.
Finance minister Mthuli Ncube said the ZSE will resume trading on the 3rd of August
Is this the insurance industry’s new normal? (By Travys Wilkins)
Many insurance businesses have been forced to speed up their digital transformation efforts but could a hybrid business model be the industry’s future?
When government first announced a national lockdown back in March, countless businesses were left scrambling to make working from home, work. Sure, distributed work was probably on
NSSA house closed on Covid 19 grounds
Staff reporter
HARARE, The National Social Security Authority (NSSA) has temporarily closed down its NSSA house in Harare to allow for deep cleaning and decontamination following the incidence of a positive COVID-19 test for one of its employees.
In a notice Marketing and Communications Executive Tendai Mutseyekwa said the affected employee was last at NSSA
State need to reform or risk sinking
The 2007-08 farm mechanisation saga continue to hog limelight after a leak revealed beneficiaries of the scheme. For over 12 years the beneficiaries of the US$200 million scheme have been kept secret by the state. Some were of the view that the controversial scheme was behind the 2015 RBZ debt assumption bill, which was then passed by parliament.
Govt makes dual pricing at auction rate mandatory
HARARE- Government, has with immediate effect, instructed all businesses to effect a dual pricing system, indicating that failure to do that will result in the business being penalised.
Businesses are expected to quote local prices at the ruling exchange rate of the day.
According to the Government Gazette’s Statutory Instrument 185 of 2020, President
IMF calls for transparency on pension contributions
Dorcas Chigodho
Staff Reporter
HARARE, The International Monetary Fund (IMF) says there is no transparency in the recording of pension’s contributions in government and there is need to ensure clear recording of pension obligations for the country’s’ six non-autonomous pension schemes.
In a Zimbabwe country report, IMF said pension contributions
CBZ Holdings capitalizes insurance unit
Staff Writer
CBZ Holdings says it has availed appropriate funding to its insurance unit, CBZ Insurance, to regulise the unit’s compliance with the regulatory minimum capital requirement.
As at Q1, 2020, the insurance unit, together with Redsphere Finance were among the group’s subsidiaries which had regulatory capital shortfalls.
“During the period, group’s
ZSE to reopen in two weeks’ time: Mthuli
Staff Reporter
HARARE, The Financial Intelligence Unit is set to conclude investigations into allegations of malpractices leveled against some counters on the Zimbabwe Stock Exchange in two weeks’ time, before the bourse can resume trading again.
Finance minister Mthuli Ncube today told a Daily News post midterm-budget review meeting