馃嚳馃嚰ZimbabweSouthern Africa
DPC fund increases by 89% to US$28.8 million due to premium and investment gains
via NewsDay Zimbabwe1 min read
The Deposit Protection Corporation DPC fund has grown by 89% to US$28.8 million, driven by gains from premiums and investments. This financial update comes amidst various economic and social developments in Zimbabwe. The country is seeing a US$650 million investment vision reinforcing confidence in its long-term growth potential and is setting in motion plans for a US$25 million climate recovery boost. The Zimbabwe Tourism Authority ZTA chief executive officer, George Manyaya, noted the tourism sector's positive growth trajectory, with a target of US$1.56 billion in revenue by 2026. However, challenges persist, including power outages and raw material shortages impacting ART operations, leading to a 6% decline in exports and a 26% decline in paper division volumes in the third quarter to June 2022. Political tensions at grasslands plots have also resulted in violent attacks and forced evictions. The government is positioning the insurance and pensions sector as a key driver for Vision 2030, and policy certainty is highlighted as crucial for Zimbabwe's mining growth by the Ghana Chamber of Mines chief.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Must ReadAlpha Media Holdings AMH, an independent media house, publishes four newspapers: The Zimbabwe Independent, The Standard, Southern, and NewsDay, each with an online edition. Recent headlines from these publications cover a range of topics including Members of Parliament demanding law overhauls for the elderly, a malaria surge in Mash West, and a US$650 million investment vision reinforcing confidence in Zimbabwe鈥檚 long-term growth potential. Other news includes an ambassador backing a rabbit export drive, Zimbabwe setting in motion a US$25 million climate recovery boost, and concerns over ZiG bottlenecks threatening the 50-tonne gold delivery target, particularly as small-scale miners contribute 75% of gold deliveries. The Deposit Protection Corporation DPC has tripled bank deposit cover to US$3,000 and quadrupled microfinance protection to US$2,000. Political tensions at grasslands plots have led to violent attacks and forced evictions, while the stability of VFEX masks underlying value. There are also reports of Zanu PF's political maneuvers regarding CAB 3 and CAB 4, and a High Court decision quashing a Kwekwe house deal. The articles also touch on the need for coordinated efforts to unlock air cargo growth and the challenge of transitioning AI strategy to AI impact.
Must ReadZimbabwe faces economic hurdles, including ZiG bottlenecks threatening gold deliveries from small-scale miners, who contribute 75% of the total. The country is also pursuing a US$25 million climate recovery boost and a rabbit export drive to African markets, supported by an ambassador. Political tensions are evident with reports of violent attacks and forced evictions at grasslands plots, and speculation about Zanu PF's strategies towards a referendum and a potential CAB4 plot with Tshabangu. In the financial sector, the DPC has tripled bank deposit cover to US$3,000 and quadrupled microfinance protection to US$2,000. Other news includes a Gunhill farmer converting a garage into a mushroom farm, a malaria surge in Mash West, and discussions around the US$650 million investment vision reinforcing confidence in Zimbabwe鈥檚 long-term growth potential.
Must ReadRecent headlines in Zimbabwe highlight a range of national concerns, including a US$650 million investment vision aimed at long-term growth and a US$25 million climate recovery boost. Economic discussions also feature the DPC tripling bank deposit cover to US$3,000 and quadrupling microfinance protection to US$2,000, alongside challenges like ZiG bottlenecks threatening a 50-tonne delivery target and a car import boom exposing formalization failures. Political tensions are noted with reports of violent attacks and forced evictions at grasslands plots, and speculation about Zanu PF's political strategies. Social issues include a malaria surge in Mash West and MPs demanding law overhaul due to the elderly being left to suffer. Other news covers Mine Entra 2026 showcasing innovation, a High Court decision quashing a Kwekwe house deal, and an ambassador backing a rabbit export drive.