Since gaining its independence from the United Kingdom in 1980, Zimbabwe has been characterized by a weak economy, poor leadership, human rights violations, and general corruption. The British took interest in this African region for its abundance of precious metals and ores, but the policies that have been enacted since 1980 have only driven Zimbabwe into deeper poverty. Now, the near-16.5 million
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
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
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
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
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
Pension funds invests in US$8 mln hotel construction
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
Pensions industry pleads for waiver in payment of levies as Covid 19 takes effect
HARARE, The pensions industry is pleading for clemency on statutory requirements with relaxation of deadlines for submission of IPEC returns and a waiver in the payment of IPEC levies on the fore as the industry bows down to the effects of covid 19, Insurance24 can report.
The industry says these are trying
Women takes over ZAPF leadership
HARARE, The Pensions and Insurance industry has always been a male dominated space, but things are changing with the new executive posts at the Zimbabwe Association of Pensions Funds (ZAPF), shifting the lenses through which the industry can been viewed.
Rutendo Magorimbo and Cynthia Mugwira are now steering the ship at ZAPF (up to the next AGM in
Pension funds trustees should adopt stakeholder approach
HARARE, Pension fund trustees must adopt a stakeholder approach to navigate the current business and economic realities in order to build long term value in a postCOVID-19 world as the pandemic has led to a global health and economic crisis that will have drastic short- and long-term impacts on organizations’ business models.