Farai Mabeza, Senior Staff Writer 
9
AFRICAN Century says government policy remains the country’s best weapon for containing inflationary and geopolitical pressure on business.
In a statement accompanying the financial institution’s audited results for the year ended December 31, 2022, chairman Victor Gapare noted that the Russian-Ukraine conflict had resulted in a downstream impact on the Zimbabwean economy.
“Notwithstanding ….notable improvements …, the economy continues to be impacted by the … Russian-Ukraine war, low business confidence, policy changes, high inflation, foreign currency shortages, low disposable incomes and unstable energy supply.
The cost to income ratio decreased from 64 percent to 36 percent driven by a 188 percent increase in total income. Operating costs increased, however, at a lower rate of 63 percent.
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