Zimbabwe National Chamber of Commerce (ZNCC) president Mike Kamungeremu confirmed that business leaders met with the government.

Last month the Reserve Bank of Zimbabwe (RBZ) chose to introduce gold coins to help it mop up excess liquidity and tackle the inflationary surge.

The policy rate was increased from 60% in January 2022 to 80% at the end of April 2022, and further to 200% on June 24, 2022.

In a shock move that sent markets tumbling in May, President Emmerson Mnangagwa announced several actions to help his government cool off economic turmoil, as the domestic unit suffered extensive write-downs against the United States dollar.

In the 2022 mid- term monetary policy statement unveiled Thursday, RBZ governor John Mangudya said smaller denomination gold coins would be introduced in November as part of a strategy to mop up excess liquidity and tame an inflation rage.

He had a commitment to his trade of earning a living by analysing novels, drama scripts and poetry and did not leave anything to chance. I am of the opinion that business, just like my teacher, Mr. Muzunze’s approach to teaching literature should leave no stone unturned.

People leave. People die. People forget”. Yet we agreed that successful brands are immortal. That’s the reason we need to keep riding on brands. Since they can talk even more louder/clearer to the coming generations just like what they are doing in our current markets (sustainable business through brand management)

There have been several reports of impropriety at NSSA, which runs a fund worth over US$1 billion for Zimbabwe’s workers.

I am yet to fully grasp the actual statistics as to the unemployment numbers within the reality of the Zimbabwe formal job space.

Power outages have crippled the operations of companies with the Zimbabwe National Chamber of Commerce estimating that  it has resulted in the cost of doing business  going up by 150%.

According to Morgan & Co, the country remains an import dependent market  and as a result is affected by the geo-political situation that has caused global energy and food prices to  rise sharply.

Hippo Valley Estates, in partnership with sister company Triangle Limited, government and banks are undertaking the project that is set to transform the sugar industry.

Finance and Economic Development minister Mthuli Ncube had projected in November that growth would come through at 5,5% this year, riding on rebounding international commodity prices, as pandemic jitters fizzle out.

On Monday, the Reserve Bank of Zimbabwe (RBZ) released 2 000 gold coins, which kicked off trading at US$1 823.

The country’s largest dairy processor slipped into the eye of a storm two weeks ago after a minority shareholder raised issues over the appointment of finance director, Mercy Ndoro, a DZL veteran, to succeed outgoing CEO, Anthony Mandiwanza who leaves the firm at the end of September.

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“Other challenges faced by businesses during the year under review include electricity supply bottlenecks, procurement delays due to Covid-19 induced supply risks, increased costs of raw materials (imported inflation), rising production costs and demand for wage increases,” Zimra chairperson Anthony Mandiwanza said.

BTL is making its first steps to re-establish itself after stepping out of administration in March when the High Court lifted its seven year long judicial management.

Zimbabwe’s annual inflation rate is being driven by the local currency continually losing value, falling from $108,66 to a current $413,43 against the US dollar.

According to ZRA’s 2021 annual report, as of December 31, 2021, the power utilities had cumulatively utilised 49,76 billion cubic metres (BCM) of water, which translated to 11% above the 2021.

Zimbabwe Miners Federation president Henrietta Rushwaya was arrested at the Robert Gabriel Mugabe International Airport in October 2020 for allegedly trying to smuggle six kilogrammes of gold.

This was assured by the government at the Buy Zimbabwe 2022 Public Procurement conference which was running under the theme, ‘Unlocking Zimbabwe’s Economic Potential through Public Procurement”.

In the past week, consumers were paying up to $750 to buy US$1, a figure that has surged many folds from January last year, when US$1 cost about $120.

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The Zimbabwe Investment Forum will be held under the theme, “Sustainable Long Term Investment Options” and is a brainchild of the Zimbabwe Independent.

The firm paid out US$2,4 million compensation to Zimbabwean policyholders in 2019 as part of a broader package also channelled to other southern African economies after the Cyclone Idai storms.