The Reserve Bank of Zimbabwe kept its key policy rate unchanged at 200 percent in its latest Monetary Policy Committee (MPC) meeting held last Friday putting to bed hopes of a downward review this year. The Bank hiked its policy rate to 200 percent from 80
The latest legal instrument -Statutory Instrument (S.I) 127 of 2021 meant to address exchange rate distortions by penalizing businesses not consistent with the ruling rate on the foreign currency auction market will create American dollar (USD) inflation and lower formal sector USD sales, the Confederation
The local manufacturing industry expects capacity utilization to significantly increase to 61 percent in 2021 from 47 percent recorded last year subject to sustainability of stable inflation and exchange rate as well as improved consumption of local products, the latest manufacturing sector report has revealed. The
National Tyre Services Limited (NTS) announced a profit-after-tax of ZWL$ 35.3 million in its Half-Year trading update to September 2020 on account of improved tyre production, exchange rate gains and cost containment efforts. The Company recorded a 17 percent increase in new tyre unit sales as
Government has called on local business and local industry to improve the competitiveness of their local products on the export market in line with the national thrust on export-led industrialisation. Addressing stakeholders at the ZimTrade Annual Exporters Conference, Minister of Industry and Commerce Mike Bimha said
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