Category Archives: Zimbabwe News
IMF Staff Completes 2017 Article IV Visit to Zimbabwe
- The economy is facing difficulties as a severe drought and slow reform momentum have led to high expenditure levels since late 2015, despite subdued revenues.
- Spending pressures stem from high employment costs, government transfers to support specific economic sectors, and elevated discretionary expenditure.
- The team recommends taking action to unleash the potential of the private sector and ensure that growth benefits the most vulnerable segments of the population.
An International Monetary Fund (IMF) team led by Ana Lucía Coronel visited Zimbabwe from May 2 to 13, 2017, to hold discussions with the national authorities, private sector representatives, and civil society in the context of the 2017 Article IV Consultations. The discussions covered recent economic developments, the outlook and risks, as well as policies that could restore economic stability.
ATI supported USD4 billion worth of trade and investments in 2016 – African countries urged to seek support from the insurer
The African Trade Insurance Agency (ATI) (www.ATI-ACA.org), held its 17th Annual General Meeting today. The sustained commodity price decline and current geopolitical uncertainties took centre stage. Meeting participants urged African governments to intently focus on growing intra-African trade and diversifying their economies away from commodity reliance in order to reduce vulnerability to external shocks. With sub-Saharan Africa’s GDP growth rates expected to hit a record low of 1.5% depressed commodity rates are seen to be one of the major drivers with export producers accounting for two-thirds of the region’s growth.
A close relationship between South Africa and Zimbabwe has laid a solid foundation towards advancing industrialisation and regional integration between the two countries and in the region. This was said by the Director of Export Marketing and Promotions at the Department of Trade and Industry (the dti), Ms Seema Sardha during the Trade and Investment Seminar that was held on the margins of the 58th Zimbabwe International Trade Fair (ZITF)
The companies that are part of the delegation will be assisted by the dti through its Export Marketing and Investment Assistance Scheme (EMIA) which aims to develop export markets for South African products and services and to recruit new foreign direct investment into the country
Africa has been left behind in the development cycle of the globe. The continent currently faces an uphill task of realizing the UN Sustainable development goals (SDGs). There has been no other imperative time as now for Africa joins forces in public – private partnerships with high tech insititutions towards the realization of the SDGs.
Karingi indicated that the progress in the levels of agricultural productivity has been uneven across countries, ranging from an increase of 325% in Nigeria to a decrease of about 40% in Zimbabwe and proposed that rethinking agricultural transformation would involve the adoption of a three-pronged approach that should systematically and comprehensively consider three essential elements: farming systems, agribusiness and regional value chains
When you switch on your television and there is a segment on Africa, the images that you typically see are that of death, disease, poverty and famine. There is undoubtedly some truth to this, however, this isn’t the whole story. With close to 70 percent of its 1 billion+ population under the age of 25, Africa is fast becoming the future frontier for global growth. In this funny, insightful talk, Nkosana shares with us how Africa’s youth are changing the narrative by creating a story everyone can get behind. Website: www.nmafico.com.
African Trade Insurance Agency (ATI) officially open for business in Ethiopia and Zimbabwe, looks to ease investors’ concerns
In both countries, ATI has a current project pipeline estimated at over one billion USD, which is expected to double in the short-term based on existing demand for its products
The government of Zimbabwe’s Computer Crime and Cyber Crime Bill would severely limit citizens’ access to information
KBA Africa has established a unique Small and Medium Enterprises (SME) Capacity Building Model that will result in entrepreneurs in Zimbabwe being empowered to play a key role in impacting and improving their communities through the creation of sustainable businesses. This innovative developmental model seeks to establish an effective Business Incubator as a tool for SME development and enhancement in Zimbabwe, which enables establishment of new enterprises, allows access to new markets, creates new jobs, and the development of innovative ideas and technologies.