Business & Investment
Economic news, markets, and investment updates.
Explore Business Profiles →Get the Zim Now Daily Brief
Business news, investment opportunities, market updates, and company insights.
You will complete your subscription on Substack.
RBZ freezes accounts of 12 major businesses for currency violations
Zim Now WriterThe Reserve Bank of Zimbabwe’s Financial Intelligence Unit has frozen the bank accounts of 12 major suppliers of goods and services, including four supermarkets in the capital, for alleg...
We command 40% market share in mining sector: Stanbic
Zim Now WriterStanbic Bank Zimbabwe now commands between 40% and 45% market share in the mining sector, a top official of the financial institution has said.Stanbic’s head of investment banking, Teren...
Cresta plans US$1m refurbishment for Byo unit
Zim Now WriterHotelier Cresta Hotels will spend US$1 million in refurbishing its Cresta Churchill Hotel in Bulawayo as the group seeks to offer its clients a modern experience.This comes after CH rela...
Mozambican 55.22-carat gem sells for record price in New York
The biggest ruby ever to come to auction has been sold in New York for a record sum of US$34.8m.Sotheby’s, which auctioned the 55.22-carat gem, described it as a “once-in-a-lifetime” jewel.The origina...
Confusion and panic on back of nostro, forex card deactivation claims
Edmore ZvinonzwaA number of Zimbabweans have said they are abandoning their nostro accounts and will no longer be accepting telegraphic transfers, opting for cash transactions.“I am withdrawing everyt...
FBC signs agreement to buy Standard Chartered Zim business
Zim Now WriterFBC Holdings Limited and Standard Chartered Bank have entered into an agreement for the acquisition of Standard Chartered’s business in Zimbabwe, subject to the approval of the regulator...
Invictus raises US$23m for Cabora Bassa Phase 2 exploration, appraisal
Invictus MD, Scott MacmillanZim Now WriterInvictus Energy has raised over US$23 million for the next phase of the Cabora Bassa oil and gas exploration and appraisal, the first such oil mining expediti...
RBZ to sell forex, as central bank announces new measures to stabilise prices, exchange rate
Zim Now WriterThe Reserve Bank of Zimbabwe will start selling foreign currency on the interbank market through commercial banks from today, with the foreign currency auctions now limited to US$5 milli...
Zim Dollar takes knock on RBZ auction, official rate now ZWL$3 673
RBZ Governor John MangudyaZim Now WriterThe Zimbabwe dollar on Tuesday fell by just over $1 000 to average $3 673.7718 against the United States dollar on the foreign currency auction held by the Rese...
Zim businessman Rudland under the radar for money laundering
Simon Rudland Tax Justice SA founder Yusuf Abramjee has called for immediate action against Simon Rudland, the Zimbabwean businessman who owns Gold Leaf Tobacco, and his criminal enterprises in South...