Like most African countries hit strongly by the COVID-19 pandemic, Zimbabwe was no exception. All the major sectors of the economy took a fall during the pandemic, and that included the property or real estate sector as well. Property prices went down during 2020 due to the ongoing pandemic and the prolonged lockdowns, which affected real estate, pension, and taxation markets. Like the other African...
In March 2017, the American magazine Fortune ranked Strive Masiyiwa, 56 years old, as the 33th out of 50 biggest leader in the world. The list gathered personalities coming from the world of arts, politics, or business. Mr. Masiyiwa is famous for being the richest man in Zimbabwe with more than 600 million dollars in 2016. He is the founder of the Econet group, which is settled in South Africa and...
The US dollar replaced the worthless Zimbabwe dollar in 2009 but over the last 18 months, the economy struggled because of a domestic shortage of greenbacks. There were rumours that last month the central bank was buying black market US dollars creating general panic within the country. Cash has enjoyed a steady 10% to 20% premium over dollars stored electronically in bank accounts (zollars) but with...
Zimbabwe moved from 161 to 159 in the World Bank rankings. Its rise has been attributed to improvements in the ease of setting up a new business. The World Bank rankings also measure aspects of regulation affecting eleven areas of the life of a business, ten of which are included in this year’s ranking on the ease of doing business: Starting a business Dealing with construction permits...
Zimbabwe has seen an increase in mortgage financing in the past years because of an increase in demand for housing and also due to a diversification by commercial banks to areas previously reserved for building societies. According to the economist Kipson Gundani the mortgage finance providers are increasingly tailoring their products to adapt to the needs of different people, particularly those...
About a year ago, the Zimbabwean authorities introduced a new local currency called "bond notes", equivalent to the US dollar, after having seen its local dollar currency peaked up to 200+ million percent in the past few years, rendering it totally worthless. This new currency had an impact on the property market in Zimbabwe, as explained by several property professionals in the country. A lot of...
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