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The African Export-Import Bank (Afreximbank) will pay a total of $69 million to its shareholders as dividend from its 2018 earnings, according to decisions reached during the Annual General Meeting of Shareholders (AGM) of the Bank which ended in Moscow yesterday. The shareholders also appointed one new member to its Board of Directors and decided…
Africa’s output grew by 3.4 per cent between 2017 and 2018 despite the slowdown in global growth during that period, a new report by the African Export-Import Bank (Afreximbank) has shown. The African Trade Report 2019: African Trade in a Digital World, launched today in Moscow during the 26th Afreximbank Annual Meetings, states that Africa’s total merchandise trade in 2018 had…
The workshop, themed: “The Consolidation of International Correspondent Banking Relationships in Africa,” was attended by representatives of the main correspondent banks operating in Africa he African Development Bank (www.AfDB.org), Making Finance Work for Africa (MFW4A) (www.MFW4A.org) and the German Cooperation (BMZ/GIZ) held a two-day international workshop in Frankfurt, Germany, to improve participants’ understanding of trade…
By Tatenda Mujeyi Microfinance bank GetBucks has held an extraordinary general meeting to notify on resolutions the bank has taken to raise additional capital of up to RTGS$47 million through right issues in Harare today. “At a meeting of Shareholders held this morning, GetBucks Microfinance Bank Limited (GetBucks) shareholders approved resolutions that would allow the…
The International Trade Centre (ITC) today unveiled a new version of Market Access Map, its popular online trade analysis tool. The revamped portal will further enhance market transparency and facilitate the analysis of trade-related policy issues. Market Access Map responds to users’ specific needs depending on their profile and will continue to provide free and user-friendly access to…
26th annual Inter-parliamentary Assembly on Orthodoxy begins its work in Tbilisi The Pan-African African Parliament (PAP) is among international Parliamentary organisations invited to take part in the 26th Inter-parliamentary Assembly on Orthodoxy (I.A.O) currently underway in Tbilisi, Georgia. The Assembly is being held from 19 to 23 June 2019 under the theme: “The contribution of…
By Tatenda Mujeyi The Africa Continental Free Trade Area (ACFTA) conference held in Harare ended yesterday with multiple recommendations that Zimbabwe can employ to better the free trade process. Recommendations that the conference made on the Free Trade agreement include capacity building, effective communication, transparency, information flow, renewable energy promotion, improvements on macro-economic environment and…
Cassava Smartech Zimbabwe’s EcoSure has unveiled US dollar denominated packages that will give Zimbabweans the opportunity to get insurance cover without worrying about the challenges of value erosion on their policies brought about by economic volatility and currency fluctuations. Announcing the move, Cassava Smartech Zimbabwe CEO Mr Eddie Chibi said the new packages would…
By Tatenda Mujeyi Zimbabwe’s only integrated media house, Zimpapers, is experiencing positive first quarter performance, Chief Executive Officer, Pikirayi Deketeke announced at the company’s Annual General Meeting in Harare today. The profits were broadly attributed to the diverse business lines the company operates despite classifying the Newspaper division, radio and the television network ZTN as…
Beitbridge-Bulawayo Railway chief executive Thembi Moyo was yesterday (Wednesday) elected president of the Southern African Railways Association at the first SARA board meeting of 2019. Namibian railway TransNamib chief executive Johny Smith was elected vice-president. Transport and Infrastructure Development Minister Joel Biggie Matiza, in a speech read on his behalf by his human resources director,…
By Tatenda Mujeyi Chrome miners convened at a consultative workshop organised by the Minerals Marketing Corporation of Zimbabwe (MMCZ) have aired out the challenges they experience within the industry. This emerged at workshop held in Harare yesterday.The event was commended as a positive step in the coordination of chrome mining considering government’s efforts to implement…
By Tatenda Mujeyi The Ministry of Foreign Affairs and Trade in partnership with the African Union Commission (AUC) and the United Nations Economic Commission for Africa (UNECA) held a consultative workshop to inform the process of implementing the AFCFTA in Harare today. The consultative workshop is aimed at informing the process of implementing a national…
The Zimbabwe Gems’s quest to represent the country at the Netball World Cup got a whopping sum of over RTGS$400 000 shot-in-the-arm from Econet Wireless, the biggest mobile network operator and VAYA, an app-based ride hailing service. The Zimbabwe Gems who are ranked 13th in the world sent an SOS for sponsorship and Econet Wireless heard…
By Byron Mutingwende Spiked Online Media’s Byron Mutingwende (BM) caught up with Evangelista Chekera (EC), a young entrepreneur whose chick brooding innovation has won her local and continental awards. Below are the excerpts of the interview: BM: Who is Evangelista Chekera? EC: I am the first born in a family of two…
Ecobank (www.Ecobank.com) has been named Best Retail Bank in Africa 2019 at the prestigious African Banker Awards. The judges were especially impressed by how Ecobank’s state-of-the-art products, services, functionality and constant innovations provide 24/7 convenience, accessibility and affordability to meet the evolving needs and expectations of its customers across 33 African countries, whilst also successfully…
UNWTO Executive Council meets in Baku The World Tourism Organization (UNWTO) has met in Baku, Azerbaijan, for the 110th Session of its Executive Council (16-18 June). At the meeting, Member States endorsed the Organization’s progress and future plans, as outlined Secretary-General Zurab Pololikashvili, and warmly welcomed the participation of the United States as it explores…
The AgriShow held at Borrowdale Racecourse from Thursday last week until Saturday was an eye opener for those who attended it for the first time, with an impressive exhibition of agricultural equipment, much of which was large modern sophisticated machinery. The show, held by the Agricultural Dealers and Manufacturers Association (ADMA), attracted not only manufacturers…
The Amalgamated Rural Teachers’ Union of Zimbabwe (ARTUZ) has said today is day one of phase 2 of teachers’ job action against ‘slave wages’ which coincides with Teachers’ June pay day. “The peanuts received by teachers have forced them to leave classrooms in protest. Reports filtering from across the country indicate that no learning is…
This represents a natural step for Centurion given the group’s strong market share within the oil & gas sector in sub-Saharan Africa and its increased activity Centurion Law Group (“Centurion”) (Centurionlg.com) is set to become the first African legal and energy advisory firm to be publicly-listed this year, as it prepares to join one of…
The crew commander and driver of the Safeguard truck that was involved in an accident near Lupane, in which one crew member died, suffered only minor injuries, Safeguard Security Bulawayo managing director Warren King said today. “The truck involved in the accident was carrying a small consignment for a private business. The accident is…
By Charles Dhewa No matter how many times this question is answered, it continues to be asked again and again. One of the reasons is that the answer may be correct but unbelievable. As in all other markets, rules of supply and demand influence pricing of agricultural commodities in open markets that are powerful ecosystems…
Cassava Smartech and Comviva have jointly won the East Africa Com Award in the “Changing Lives” category for Cassava’s EcoCash mobile money service powered by mobiquity® Money. The award was presented recently at Radisson Blu Hotel in Nairobi, Kenya. This is the second consecutive award for both companies as they won the award in 2018…
Econet Wireless Zimbabwe’s Clean City (Pvt) Limited this week stepped up its cleanliness awareness efforts with the launch of Community Environmental Services (CES). The launch event saw over 200 CES volunteers converge at Mt Pleasant Hall, before proceeding to lead an awareness and cleaning blitz at Mt Pleasant Shopping Centre and its environs. Speaking at…
Zimnat Life Assurance on Friday marked the launch of its Gadziriro/ Lungiselelo United States dollars funeral policy with a march from Zimnat House to Joina City in Harare, generating considerable excitement in and around Joina City. Gadziriro/ Lungiselelo is a funeral cash plan that with a monthly premium of less than five United States…
Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests At a special event highlighting the partnership between the African Development Bank (www.AfDB.org) and Korea held on the sidelines of the Bank’s Annual Meetings, the role of drone technology to boost food productivity in Africa, was on full display….
More than 400 women have signed up to Africa’s first online platform for female agripreneurs, launched today at a trade fair in Nairobi. The VALUE4HERConnect network will help bring women entrepreneurs in agriculture together in a virtual community and serve as an important business resource for members. The network, which was launched at AWAN-Afrika’s first continental conference and VALUE4HER…
By Byron Mutingwende A credible, inclusive and comprehensive national dialogue is important for the country’s international re-engagement agenda, the Zimbabwe Council of Churches (ZCC) has said. Dr Solomon Muqayi, a Senior Lecturer at the University of Zimbabwe speaking at the Second National Economic Dialogue series under the topic “Zimbabwe’s International Re-engagement Agenda: A…
The leaders spoke during a high-level presidential dialogue on day two of the African Development Bank’s 2019 Annual Meetings Leaders from four African countries on Wednesday shared their vision for an integrated and borderless Africa that would foster economic growth and development. The leaders spoke during a high-level presidential dialogue on day two of the…
The African Export-Import Bank (Afreximbank) yesterday in Malabo received the award for the African Bank of the Year at the African Banker Awards 2019 ceremony held on the sidelines of the Annual Meetings of the African Development Bank. Amr Kamel, Afreximbank’s Executive Vice President for Business Development and Corporate Banking received the award on behalf of the Bank. The…
By Tatenda Mujeyi The Rainbow Tourism Group, RTG, is in a positive trajectory following the payment of the first dividend and a positive first quarter performance, the Chief Executive Officer, Tendai Madziwanyika said at the Annual General Meeting (AGM) held at the Rainbow Towers Hotel yesterday. The group paid its first dividend of $1.000.000.00 in…
By Tatenda Mujeyi Cabinet has considered and approved the Zimbabwe National Industrial Development Policy (ZNIDP) as submitted by the Ministry of Industry and Commerce in Harare yesterday. ZNIDP seeks revitalisation of the countries industry which has not met a positive growth trajectory due to economic challenges experienced since 2008. The policy seeks to realise improved…
Siemens invests in Southern and Eastern Africa to promote Digital Industries Software portfolio Acquisition of distributor ESTEQ (http://ESTEQ.co.za/) brings an experienced team and long-standing customer relationships to Siemens (www.Siemens.com); Siemens invests in Southern and Eastern Africa to promote Digital Industries Software portfolio. Siemens Digital Industries Software announced today that it has signed an agreement to…
NMB Bank is keen to help promote agricultural exports, which is one of the reasons it is this year participating for the first time at the Agricultural Dealers’ and Manufacturers’ Association (ADMA) Agrishow at Harare’s Borrowdale Racecourse. Its participation at the expo, which is the premiere agricultural event for commercial farmers, provides farmers with the…
The more than one billion US-dollar investment that Econet Wireless Zimbabwe has made in its mobile network infrastructure continues to pay off, despite the strong economic headwinds in the business operating environment. The Zimbabwean economy has been going through one of its most challenging economic spells, with shortage of foreign currency topping many other difficulties…
By Tatenda Mugabe The Insurance and Pensions Commission of Zimbabwe (IPEC) has issued a notice of suspension to Regal Insurance with immediate effect. The notice is based on investigations into allegations levelled against the entity such as failure to settle policy claims and fleecing policy holders. The suspension was enforced in terms of section 67…
In a move to ensure inclusive youth participation in the government and national exercises, a youth-oriented organisation called Youth Voice Mass Movement that is directed towards uplifting the youths and advocating for peace and unity to the country’s current upheavals has been launched. Addressing a press conference recently, the Founding President of Youth Voice Mass…
A record number of students graduated as chartered secretaries on Saturday (June 8) at an historic graduation ceremony at which the first students from a joint Great Zimbabwe University and Institute of Chartered Secretaries in Zimbabwe programme graduated alongside other ICSAZ students. There were 293 graduates who completed their final ICSAZ examinations last year, three…
The 174 room Four Points by Sheraton Dar es Salaam, New Africa Hotel, features spacious and contemporary rooms including suites POINT 1: Marriott International, Inc. (NASDAQ: MAR) (www.Marriott.com) yesterday announced the opening of its second Four Points by Sheraton (Four-Points.Marriott.com) hotel in Tanzania, Four Points by Sheraton Dar es Salaam, New Africa Hotel. The original New Africa…
Zimnat and THI Insurance, which earlier this year entered into an underwriting management agency agreement with Zimnat General Insurance, are jointly participating in this year’s Agricultural Dealers’ and Managers’ Association Agrishow, which runs from Thursday until Saturday at Borrowdale Racecourse in Harare. The agreement between THI and Zimnat General Insurance, which came into effect on…
By Charles Dhewa How capital determines the structure of agriculture and food systems in Africa Although finance will not solve all challenges facing developing countries, the structure of African agriculture is largely shaped by the way capital flows into this fundamental sector. In Zimbabwe, for instance, more than 55% of the entire capital devoted to…
By Tatenda Mujeyi The Zimbabwe Tourism Authority (ZTA) has engaged German tourist destination marketers, Pan Natura, in a bid to enhance promotion of Zimbabwe as a favourable tourist destination. The 10-member delegation visited Mana pools among other Zimbabwean destinations and left Zimbabwe today for German were they said they will market Zimbabwe to potential German…
The CBZ held its 2018 Annual General Meeting with focus on the operating environment, banks 2018 milestones, corporate social responsibility programmes among other topical issues in Harare this week. The AGM noted the success of CBZ during the reviewed period as driven by diversification and new product offerings that are underpinned by expenditure increases. “There…
Exports generated by international tourism reached USD 1.7 trillion in 2018, a 4% increase in real terms over the previous year, a new report from the World Tourism Organisation (UNWTO) shows. For the seventh year in a row, tourism exports grew faster than merchandise exports (+3%), reflecting solid demand for international travel in a generally…
Safeguard Security has advised householders and business people to ensure their properties are secure and that security alarm batteries are adequate to protect their properties during electricity load shedding, particularly at night. The recently introduced load shedding, which is seeing some areas going without electricity for more than 10 hours every day, is leaving…
The African Export-Import Bank (Afreximbank) will provide a credit facility valued at up to two billion Rands (about $140 million) to the Kingdom of Eswatini to enable the Kingdom achieve required funding to meet trade and strategic economic goals, Bank President Prof. Benedict Oramah, has announced in Mbabane. Prof. Oramah, who was addressing King Mswati III…
