Markets
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Zimbabwe’s inflation drops to two digits for first time since 2018
Zimbabwe’s inflation slowed to double digits in July for the first time in more than two years. Inflation started spiraling out of control toward the end of 2018 and peaked at 837.5% almost two years later. The acceleration was largely due to a number of missteps that led to a cash scarcity in the country. Its currencies, comprising bond notes…
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RBZ forex auction is in trouble: Eddie Cross
It is clear that the Auction for foreign exchange is in trouble. The arrears now stand at over US$200 million. That is equivalent to nearly Z$18 billion and the delays are having a serious impact on company cash flows and confidence in the system overall. While the SME Auction is playing a key role in the economy and is giving…
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Tobacco sales: Figures remain impressive
HARARE – Earnings from the sale of the golden leaf for the current year’s marketing season continue to be significantly ahead of last year complimented by better average prices, statistics from the Tobacco Industry and Marketing Board (TIMB) shows. The data shows that total sales from both contract and auction floors stood at US$537.6 million as of day 74, 26.57…
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