So apparently @econetzimbabwe sold me a recycled line that had a pending @EcoCashZW reversal. Now I want to access my money they are telling me to settle that reversal. The crazy thing is the reversal was initiated a year before I bought the line and I was not even in Zim.
Following the successful conclusion of the Regional Factoring Conference in Harare, our Regional Chief Operating Officer, Client Relations, Southern Africa, Humphrey Nwugo took a moment to express his gratitude to all the attendees for their invaluable contributions to the discussions and more importantly taking time off their busy schedules to attend the event. He extended special thanks to Mrs. Kanayo Awani, Afreximbank Executive Vice President Intra African Trade and Export Development Bank and FCI Board Member for her exceptional leadership and dedication to the event's success, emphasising her vision for supporting SMEs, and leveraging factoring opportunities within Africa.
Mr. Nwugo also expressed gratitude to Neal Harm, FCI Secretary General and the FCI team for their commitment, and Dr. J.T. Chipika, Deputy Governor of the Reserve Bank of Zimbabwe and Mr. Matiza for their impactful contributions, particularly in highlighting challenges and opportunities within the SME sector. He encouraged attendees to seize the opportunities presented by factoring to become ambassadors of change in Africa, embodying the spirit of innovation and collaboration. #Afreximbank #FCI #AfricaFinance #Factoring
Fadzi, I think on this one, you are missing the point that reserves come from royalties, circa 5%. The bulk of the gold delivered to Fidelity is exported.
๐ฃThe Govt says the currency will be backed by our โgold reserves.โ Governor Mushayavanhu says the Reserve Bank has 1,1 tonnes of gold reserves. Scott delivered 13 tonnes of gold to Fidelity last year.
So this means that Scott can buy the new structured currency more than ten times over with just one year of gold deliveries?
Imika?
Itโs a mess.
We need new leaders.๐ฟ๐ผ
Metro Peech & Browne Wholesalers (MPBW) has shut down for a month as it prepares to receive a US$13.5mn corporate rescue capital injection to kickstart profitability.
IH Securities 2023 Year-to-Date Equity Strategy is accessible on our website now. The link below will lead you to the full report.
https://t.co/oltEwq4lBW
This is how bad Domboshava road is. Pamwe pacho being patriotic doesn't pay. Rather, it drains you. If you get a chance to leave this country, please do!
Zimbabwe Macroeconomic Overview
The economy faced a plethora of challenges in the first half of the year. Power shortages were rampant especially in 1Q23 although the situation improved in 2Q23 as Hwange Unit 7 came live. Inflation generally was on an upward trend.
We are pleased to inform you that our IH Zimbabwe 2023 Banking Sector Report is now available on our website. Kindly follow the link below to access the report if you are interested in it.
https://t.co/rZleMvclIl
The Padenga Holdings Reinitiating Coverage Report is available now on our website. For investors keen to access the full report, the link is below.
https://t.co/kFi59vIhUn
@rufarogz Much of the value addition takes place during the tanning process, and from what I have heard, it's a business line that requires special skills and experience. That could be the reason why Padenga is not venturing into that space.
But the market has already dollarized. With circa 85% of transactions in USD and 90% of loan books being USD loans, I think we can all agree it's already a USD economy