ECONOMC INDICATORS

Trade deficit widens to US$718m despite 15% rise in export earnings for August

According to the latest Zimstat statistics, Zimbabwe's 2019 trade deficit widened to US$718 million at the end of August, although the monthly deficit fell by 33% to US$39 million from US$58 million i...

By Staff reporter | Published: 14 October 2019

INDUSTRIALS & ENERGY

Petrotrade declares $1.5 million dividend

Government-owned oil company, Petrotrade declared a $1.56 million dividend at the end of its 2018 financial year after managing to improve its profitability during the period, the company said on Thur...

By New Ziana | Published: 04 October 2019

ZIMBABWE

ZSE bearish with a 0.35% drop as big caps trade negatively

The ZSE retreated by 0.35% with gains in Innscor, BAT and Zimre failing to prop up the bourse against losses for blue-chips Old Mutual and Econet. At the close of trade, market turnover reached Z...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

ZimTrade Outward Trade delegation set for UK Mission

A high-powered delegation from ZimTrade, Zimbabwe's trade development and promotion organisation, will visit the United Kingdom (UK) on an Outward Trade Mission from the 2-6 September 2019.The delegat...

By Staff reporter | Published: 22 August 2019

BUSINESS NEWS

Zimbabwe trade deficit narrows by 71%

ZIMBABWE'S trade deficit narrowed by 71% to $325 million between February and May this year, with analysts attributing the decline to foreign currency shortages as well as a drop in the budget deficit...

By Staff reporter | Published: 11 July 2019

FINANCIAL SERVICES

US$645m traded on interbank market

About US$645 million has been traded on the interbank market since the platform was established in February this year, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said. "As at the end...

By Staff reporter | Published: 09 July 2019

BUSINESS NEWS

Zimbabwe trade deficit hits $32,15bn

ZIMBABWE has, since 2009, accumulated a trade deficit of $32,15 billion, a development that has left the country battling with persistent foreign currency shortages, a government official has said.Giv...

By Staff reporter | Published: 05 July 2019

BUSINESS NEWS

'Trade policy, export strategy ready by third quarter'

ZimTrade chief executive Allan Majuru says he expects the trade policy and export strategy (TPES) document meant to boost exports to be ready before the end of the third quarter.The TPES is an impleme...

By Staff reporter | Published: 20 June 2019

AFRICA BUSINESS

Break down trade barriers - AfDB chief

Elimination of barriers could potentially spur Africa's trade by 53 percent and eventually double in the medium term, Akinwumi Adesina, president of Africa Development Bank has said. Adesina made the ...

By Business Writer/AfDB | Published: 14 June 2019

BUSINESS NEWS

Botswana targets increased trade with Zimbabwe

THE Botswana Investment and Trade Centre (BITC) says it hopes to increase trade with Zimbabwe from the current US$30 million to US$105 million buoyed by the export credit line scheme currently under d...

By Staff reporter | Published: 29 April 2019

BUSINESS NEWS

Botswana ready to increase Zimbabwe trade ties

BOTSWANA is ready to strengthen economic ties with Zimbabwe so as to boost economic growth for both countries.  Botswana Investment and Trade Centre chief operations officer, Mr Reginald Selelo, ...

By Staff reporter | Published: 26 April 2019

BUSINESS NEWS

Zimbabwe trade deficit widens

ZIMBABWE recorded a trade deficit of $2,3 billion in the period between February and December 2018, latest trade data has shown.Figures released by the Zimbabwe National Statistics Agency (ZimStat) sh...

By Staff reporter | Published: 29 January 2019

BUSINESS NEWS

ZimTrade aims to increase exports by 10%

TRADE and export promotion body ZimTrade has projected to increase exports of value-added goods and services by 10 percent this year through lining-up various promotional programmes aimed at encouragi...

By Staff reporter | Published: 20 January 2019

ZIMBABWE

Zimbabwe equities market suspends trade

TRADING on Zimbabwe's equities market was suspended this week after mass protests and civil unrest unnerved investors in a week punctuated by clashes between state security agents and protestors in mo...

By Staff reporter | Published: 19 January 2019

BUSINESS NEWS

Mnangagwa gets kudos for free trade policies

President Mnangagwa's Second Republic has received high plaudits for pushing initiatives that promote free trade and movement across borders in the Southern African region. Zimbabwe, among other initi...

By Staff reporter | Published: 17 December 2018

ECONOMC INDICATORS

October trade deficit down 37,5%

THE country's month-on-month trade deficit for October declined by 37,5 percent to $144,3 million from $230,9 million in September, official figures from the Zimbabwe National Statistics Agency (Zimst...

By Staff reporter | Published: 28 November 2018

BUSINESS NEWS

'Trade in forex, pay tax in forex'

The Zimbabwe Revenue Authority has directed businesses that are trading in multi-currencies to remit taxes in the same currency in which the goods have been sold. "Zimbabwe Revenue Authority has notic...

By Staff reporter | Published: 19 November 2018

BUSINESS NEWS

Illicit trading exaggerates trade deficit

ZIMBABWE's persistent trade deficit has been magnified by unstated foreign trade activity, the country's national statistical agency has said.In recent years, the southern African country has run syst...

By Staff reporter | Published: 30 September 2018

BUSINESS NEWS

ZimTrade urges value-added trade

ZimTrade, Zimbabwe's export promotion institution, has called for the deepening of valued-added manufacturing on current exports to Germany to diversify the country's export basket and scale up global...

By Staff reporter | Published: 17 September 2018

INDUSTRIALS & ENERGY

Petrotrade in $3,75m tax profit

State petroleum company, Petrotrade has - for the third year running declared a dividend to Government after registering an after tax profit of $3,75 million for the year ended December 2017. Speaking...

By Staff reporter | Published: 12 September 2018

BUSINESS NEWS

ZimTrade board appoints new substantive CEO

THE ZimTrade board has announced the appointment of Mr Allan Tawanda Majuru as the new substantive chief executive officer for the country's trade promotion agency with effect from 1 September 2018. T...

By Staff reporter | Published: 11 September 2018

BUSINESS NEWS

Zimbabwe trade deficit breaches $20bn mark

ZIMBABWE'S trade deficit with the rest of the world breached the $20 billion mark in the past nine years, with much of the imports coming from South Africa (SA), Industry minister Mike Bimha has said....

By Staff reporter | Published: 06 September 2018

POLITICS

MDC Alliance, MRP trade barbs over Bulawayo mayoral candidate

MDC Alliance Bulawayo youths are up in arms against their Mthwakazi Republic Party (MRP) counterparts whom they accused of interfering in the selection of the city's mayor.On Tuesday, the two groups c...

By Staff reporter | Published: 06 September 2018

BUSINESS NEWS

Exporters urged to exploit trade pacts

BUSINESSES venturing into export markets should take advantage of trade benefits offered by Zimbabwe's bilateral and regional agreements to grow their businesses.Zimbabwe is a signatory to trade agree...

By Staff reporter | Published: 27 July 2018

TELECOMS & TECHNOLOGY

C-Trade brings capital markets to rural areas

At a time Government is pursuing financial inclusion strategies in remote areas, the latest innovation, C-Trade; an online and mobile share trading platform is expected not only to make trading of sto...

By Staff reporter | Published: 27 July 2018
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