Zimbabwean banks are holding only two percent of their liquid assets as cash, with more than 36 percent in the form of real-time gross settlement systems (RTGS), a central bank official said today, highlighting the extent of the liquidity crunch in the country.
Zimbabwe has so far raised and disbursed $45 million out of $200 million required to rehabilitate road infrastructure that was hugely damaged by Cyclone Dineo, Vice-President Emmerson Mnangagwa said today.
Zimplats today said net profit more than doubled to $42.2 million in the three months to March 31, from $20.6 million in previous quarter.
Zimbabwe African National Union-Patriotic Front national political Commissar, Saviour Kasukuwere, who has dominated the headlines for the past two weeks, is likely to know his fate today after a four-member team led by Speaker of Parliament Jacob Mudenda was sent to Mashonaland Central to hear why the province wants him out.
Zimbabwe banking sector is thriving despite the tough operating environment, with profitability and balance sheet significantly sound in the full year ended December 31, 2016, financial results from reporting banks show.
World platinum top producer Anglo American Platinum (Amplats) says production at its Zimbabwe unit near Shurugwi went up 2 percent to 18 900 ounces in the quarter to March compared to the same period last year.