Business Weekly Indaba on cards
FINANCIAL Markets Indaba in partnership with Business Weekly will in May host the Zimbabwe Finance Online Conference to unpack opportunities available in the country’s financial services sector.
The conference will bring together Industry decision makers, international financial institutions, Zimbabwean banks, global investment banks, development banks, institutional investors and world-class FinTech providers.
“The conference is dedicated to showcasing the outstanding growth and commercial opportunities in Zimbabwe’s developing banking and financial services sector.
“It is being held online and will draw together innovative financial institutions from Zimbabwe, Africa and around the world, keen to unlock opportunities in Zimbabwe’s developing financial ecosystem,” said FMI executive director Patrick Muzondo.
The conference comes as Zimbabwe is working towards becoming an upper middle income economy by 2030 to be realised through the Transitional Stabilisation Programme (TSP 2018-2020) and two successive five-year National Development Strategies (NDS1 and NDS2).
The main objectives of TSP was to stabilise the economy and create a solid foundation for the medium term plans, namely, the recently launched National Development Strategy (NDS1 and NDS2). Notable progress has been made in the implementation of the TSP including fiscal consolidation and exchange rate stability.
The Government has projected that the economy will grow by 7,4 percent in 2021, which is a huge rebound from the 4,1 percent contraction in 2020.
The central bank is projecting an annual inflation rate of about 10 percent by the end of the year although the Covid-19 induced lockdowns have caused economic disruptions to economic activity.
But the gradual reopening of the economy and precautionary measures supported by vaccination roll out programme is expected to lead to the return to usual economic activity and open opportunities for growth in various economic sectors such as the financial services sector.
Key topics that will be tabled for discussion include but not limited to status of the Zimbabwe economy, the Banking Sector: Financing Challenges & Key Solutions, capital markets and the Zimbabwe Stock Exchange, fintech, innovation and remittances.