Shiri Financials AfriStock Insights

Zimbabweans are facing a severe currency crisis that has eroded their incomes, savings and living standards. The ZWL has been one of the lowest valued currency units in the world due to hyperinflation that plagued the country in the early 21st century. The currency was redenominated three times and eventually abandoned in 2009, when the government allowed the use of foreign currency. In 2019, the ZWL was reintroduced, but it has been losing value rapidly against the US dollar (USD) ever since.   The Zimbabwean dollar (ZWL) has been in freefall in recent months, losing value against the US dollar at an alarming rate. In May 2023 alone, the ZWL depreciated by 60% against the USD, from 1,059 ZWL/USD at the beginning of the month to 2,557 ZWL/USD at the end of the month. On the black market, the exchange rate was even worse, reaching 4,200 ZWL/USD as of June 2, 2023. UPDATE: now  4 868.52 Govt and 6700 Parallel Market as at 08 June 2023 10:40 AM  more here   ...

The following is an analysis of the financial statements of Econet Wireless Zimbabwe Limited for the year ended 28 February 2023, based on the Abridged consolidated statement of financial position as at 28 February 2023 using inflation adjusted figures. The figures are converted to USD using the rate 1 USD = 1150 ZWL rate found here Statement of Financial Position Item ZWL (000) USD (000) Change (%) Total Assets 709,022,033 616,541 108 Total Equity 436,798,754 379,825 86 Total Liabilities 272,223,279 236,716 159 Cash and Cash Equivalents 49,087,722 42,681 128 The total assets increased by 108% from ZWL 340.8 billion in 2022 to ZWL 709 billion in 2023, mainly due to an increase in property, plant and equipment and financial assets a...

EcoCash Holdings Zimbabwe Limited (EHZL), the parent company of EcoCash (Private) Limited, a mobile money transfer service provider, has released its financial statements for the year ended 28 February 2023. In this article, we will analyze the key financial figures and evaluate the company's performance. Additionally, we will discuss the challenges faced by EcoCash, such as regulatory constraints, and propose potential solutions. we are going to use the exchange rate of 1 USD = 1150 ZWL found here  rate the day which was used on the financial statement ending 28 February 2023   Revenue and Profitability: EcoCash recorded a revenue of $88 million USD, reflecting a 5% increase compared to the previous year. The primary revenue drivers were Fintech (78%), Insurtech (17%), and Digital Platforms (5%). However, the company incurred a loss before tax of $2.4 million USD, a significant decline from the prior year's profit before tax of $10.3 million USD. The main contributors ...

The BRICS countries (Brazil, Russia, India, China, and South Africa) are emerging as a major force in the global economy. Together, they account for over 30% of the world's population and 25% of the world's GDP. In recent years, the BRICS countries have been increasingly looking to Africa as a partner for trade, investment, and development. For many African countries, the BRICS offer an alternative to the traditional Western partners, such as the United States and the European Union. The BRICS countries are seen as being more willing to work with Africa on its own terms, and they are not as likely to impose conditionalities on their aid and investment. The rise of the BRICS countries is a significant development for Africa. The BRICS offer Africa an alternative to the traditional Western partners, and they are more supportive of Africa's development goals. This could lead to a more equitable and mutually beneficial relationship between Africa and the BRICS countries. Th...

For many years, the US dollar has held a dominant position as the world's reserve currency. However, this position is gradually being challenged by various factors, and the implications of this shift are particularly significant for countries like Zimbabwe, which heavily rely on the US dollar. In this blog post, we will delve into the reasons behind the decline of the US dollar's dominance and explore how Zimbabwe can navigate these changes. The US dollar's global dominance stems from various factors that have solidified its position over the years. Firstly, the United States boasts the largest economy worldwide, making the US dollar a natural choice for international transactions. This economic might is further amplified by the stability and reliability of the US financial system, which has engendered trust and confidence in the currency. Reasons for the US Dollar Dominance Moreover, the US dollar's status as the primary currency for commodities, such as oil, has...