April 2024 - The Financial Gazette

TSL ventures in animal healthcare products

Almot Maqolo, Staff WriterApril 30, 20240420 views

ZIMBABWE Stock Exchange-listed diversified company, TSL has developed new animal healthcare products as it moves to diversify its product offerings. Local retailers have traditionally relied on external suppliers for procurement of animal healthcare products and the localisation of production of these commodities presents a potentially lucrative business for the company. “We have started manufacturing animal…

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First Capital income surges 33 pct

Mishma Chakanyuka, Staff WriterApril 29, 20240506 views

…but aggravated operating expenses cut margins FIRST Capital Bank (First Capital) recorded a 33 percent increase in total income to US$71,2 million for the fiscal year ended December 31, 2023 buoyed by a significant increase in customer base, loans and advances, and proportion of US- dollar transactions. The growth in total income during the year…

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Zimbabwe’s LTE deployment remains ‘slow’

Mishma Chakanyuka, Staff WriterApril 29, 20240671 views

ZIMBABWE continues to lag in the deployment of Long-Term Evolution (LTE) base stations, as revealed by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz). This revelation comes as telecommunication firms in the southern African nation are transitioning from older-generation mobile technology to fourth-generation wireless technology. The latter offers higher capacity and faster download and…

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Kavango announces capital raise for Zimbabwe, Botswana projects

Almot Maqolo, Staff WriterApril 29, 20240867 views

LONDON-based Kavango Resources Plc (Kavango) is aiming to raise about £3,08 million (US$3,86 million) by issuing 257,11 million new ordinary shares at a price per share of 1.2 pence through…

Black market is money laundering – Treasury

Adelaide Moyo, Group Managing EditorApril 25, 20240591 views

THE Ministry of Finance says it will now classify activities on the parallel market as money laundering. The treasury’s move is a bold attempt to curb currency manipulation and stabilise…

Executive changes at CBZ calm investors

Almot Maqolo, Staff WriterApril 25, 20240781 views

CBZ Holdings (CBZHL) shares remained steady in a midweek session following the announcement of Lawrence Nyazema’s appointment as the new group chief executive officer. Shares of CBZHL were steady at ZiG363,2500. Nyazema’s appointment, effective from April 19, 2024, comes after his tenure as the company’s acting group chief executive officer since December 1, 2023. This…

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Caledonia’s Blanket mine output 6 percent up in Q1

Mishma Chakanyuka, Staff WriterApril 22, 202401.2K views

CALEDONIA Mining Corporation posted a six percent increase in gold production at its flagship subsidiary, Blanket mine, to 17,050 ounces during the first quarter ended March, 31, 2024 despite having eight fewer production days compared to the same period last year. Fewer production days were due to the production cut-off for gold de- livery set…

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Masimba wary of El Nino

Mishma Chakanyuka, Staff WriterApril 18, 20240641 views

MASIMBA Holdings (Masimba) says the adverse impact of the El Nino weather phenomenon and the declining mineral prices could have spillover effects on infrastructure development spending by government and the private sector thereby impacting execution of its order book. Zimbabwe has just endured a lackluster 2023/24 farming season due to the El Nino-induced drought expected…

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Diesel consumption ticks up

Almot Maqolo, Staff WriterApril 18, 20240565 views

ZIMBABWE’S diesel consumption, a key component of the country’s transport sector, increased by three percent to 1,07 billion litres in 2023, up from 1,04 billion litres in 2022, according to the latest figures. This rise is attributed to improved economic activity. The 1,07 billion litres mark the highest diesel consumption for the country in the…

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Morgan & Co ETF sees robust growth in 2023

Mishma Chakanyuka, Staff WriterApril 16, 20240581 views

THE Morgan & Co Made in Zimbabwe ETF (ETF) says the local manufacturing sector held steady during 2023 despite significant challenges confronting the economy. The Made in Zimbabwe ETF-an actively managed fund which primarily invests in Zimbabwean manufacturing companies, posted growth of 691 percent during the year tracking the Zimbabwe Stock Exchange (ZSE) All Share…

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