The Insider

The European Union (EU) says Zimbabwe needs to refine its business environment which continues to deter potential investors from the bloc’s member states.

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Zimbabwe’s mobile phone operators have registered an 18 percent decline in revenue to $907 million in the full year to December compared to the same period in 2013, as voice traffic continues to dip amid growth in non-voice platform usage, a report by the industry regulator has shown.

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Tobacco prices have improved in recent days with the trend expected to continue as the selling season gains momentum after a false start to the season that saw farmers protest over poor prices, the industry regulator has said.

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I hate bullies, be they human or corporate. Their intention is to instill the fear of God, mainly to avoid scrutiny. I had this feeling about Econet Wireless and Steward Bank this in the past few weeks after reading about their “raid” of The Source, a media house. I write this opinion with a heavy heart since I have been a shareholder of Econet since inception, and by extension, am also a shareholder of Steward Bank.

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Zimbabwe has received nearly $34 billion in foreign currency receipts since the inception of the multi-currency system against national payments of about $36 billion over the same period with the informal non-bank system accounting for the deficit, the Reserve Bank has said.

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Delta Corporation’s sorghum beer, Chibuku Super now contributes 50 percent of volumes sold by the Zimbabwe Stock Exchange-listed heavyweight, which reported a five percent decline in revenue for the quarter ending March as demand for beverages continues to fall on the back of an underperforming economy.

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Zimbabwe remains an attractive investment destination for long-term investors with a focus on sub-Saharan Africa despite its mounting economic woes, according to a local advisory firm.

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The Constitutional Court today threw out the case in which former Movement for Democratic Change- Tsvangirai Secretary-General Tendai Biti and 20 other legislators were challenging their expulsion from Parliament because it had no merit.

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The Deposit Protection Corporation (DPC) has moved into the collapsed AfrAsia Bank after being granted a provisional liquidation order by the High Court and has started paying out $4.5 million to depositors whose funds were locked in the bank.

(338 VIEWS)