Economies

Confidence is currency Zim needs

Confidence is currency Zim needs

By Joram Nyathi JOICE Mujuru, the leader of Zimbabwe’s People First opposition party, last week lost a Constitutional Court challenge against the planned introduction of a new surrogate currency called bond notes at the end of the month. The apex court said Mujuru had jumped the gun by challenging what did not yet exist. In the […]

Namibian economy declines

Namibian economy declines

Windhoek – The Namibian economy recorded a decline of 1,2 per cent in the second quarter of 2016, compared to 7,0 per cent growth registered in the corresponding quarter of 2015. “The negative growth is mainly attributed to declines in real value added recorded in construction; hotels and restaurants; and mining and quarrying,” said Statistician-General […]

Namibia inflation surges on price hikes

Namibia inflation surges on price hikes

By Magreth Nunuhe WINDHOEK–THE latest Consumer Price Index (CPI) has proved right economists’ warning at the beginning of this year that Namibian consumers should brace themselves for tough and uncertain times ahead for 2016. Namibia’s Statistics Agency (NSA) figures for August 2016 indicate that non-food inflation rate was almost three times higher in August 2016 at […]

Zim’s central bank woes Diaspora

Zim’s central bank woes Diaspora

THE Zimbabwe government has embarked on an offensive to drum up faltering remittances from the diaspora, a central bank official said on Wednesday. In the six months to June this year, diaspora remittances amounted to $397 million, 13 percent lower than in the same period last year and the government wants the estimated five million […]

NicozDiamond sells off Uganda operation

NicozDiamond sells off Uganda operation

ZIMBABWE’S largest short-term insurer, NicozDiamond, says it has found a prospective buyer for its Ugandan operation, First Insurance Company (FICO). The Group is looking at disposing of FICO, which it acquired from parent company Zimre Holdings, citing low returns on investment. “Negotiations are at advanced stages with the potential buyer,” said NicozDiamond’s general manager for […]