OK Zimbabwe (OK Zim) says its proposed turnaround plan, which involves raising equity capital and disposing of some underperforming assets, will bring business back on track.The country’s largest retailer by store footprint is currently saddled with a US$30 million debt, mainly owed to suppliers, resulting in most of them withholding stock.To ensure business continuity, OK…
PADENGA Holdings (Padenga) expects to significantly boost profitability this year, supported by surging gold prices and strict cost-control measures.The group’s mining subsidiaries have been recording positive margins, with gold production in the first quarter ended March 31, 2025 soaring by 1,6 percent to 620 kilogrammes against 610 kilogrammes recorded in the comparative period of 2024.In…
EDGARS Stores (Edgars) says rental costs across the group grew by 35 percent last year due to the rise in property values and the transition to US-dollar denominated charges.The apparel giant’s subsidiaries, such as Jet Edgars Chain, Jet Chain, and Club Plus Microfinance, have a nationwide shop network and primarily operate in rented premises.The development…
ZIMBABWE’s exports increased by 9,6 percent to US$727,3 million in May 2025, with semi-manufactured gold accounting for over half of the country’s total export value, latest data shows.According to the Zimbabwe National Statistics Agency’s (Zimstat) latest data, the exports increased from US$663,8 million recorded in April 2025.The statistics agency said imports for May 2025 amounted…
PERSONAL loans to households constituted the largest share of private sector credit in Zimbabwe during the first quarter of 2025, accounting for 28,44 percent of total lending, outpacing agriculture (17,15 percent) and manufacturing (13,47 percent).The Reserve Bank of Zimbabwe’s latest report reveals domestic credit surged by 8,95 percent to ZiG118,66 billion by March, driven primarily…
THE manufacturing sector was the top contributor and primary driver of Zimbabwe’s overall gross domestic product (GDP) growth in 2024, accounting for 15,3 percent, latest figures show.According to the annual GDP figures released by the Zimbabwe National Statistics Agency (Zimstat), the mining and quarrying sector added 14,5 percent to GDP while wholesale and retail trade…
TSL has identified three non-performing assets for sale to raise funds towards the acquisition of a 51,43 percent equity stake in Nampak Zimbabwe. The agro-industrial firm is looking forward to completing the US$25 million transaction from the disposal of industrial properties in Gweru and Bulawayo as well as another in Harare, commonly known as Nuffield.The…
IN the ideal world of corporate governance, the distinction between the role of the board of directors and that of management should be unmistakably clear. Boards are expected to govern — set strategy, oversee performance, manage risk, and ensure accountability — while management is expected to execute — run the organisation, make operational decisions, and…
BRITISH American Tobacco Zimbabwe (BAT) has announced a refined sustainability strategy to guide its operations to a ‘smokeless’ future.Tobacco companies are facing increasing pressure regarding sustainability, driven by concerns about the environmental and social impacts of their operations.According to the group, its refined strategy is underpinned by five impact areas, namely, tobacco harm reduction, climate,…
MASIMBA Holdings (Masimba) recorded double digit decreases in fuel consumption year-on-year in 2024 as streamlining of operations and procurement of more efficient equipment paid off.The group’s business entails operating mobile road construction and earthmoving machinery, which makes it a heavy consumer of diesel and petrol.Currently it’s seized with massive road construction projects nationwide which are…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More