Zimbabwe leads in budget transparency
ZIMBABWE has been ranked number three on a key African index for budget transparency and fiscal openness after South Africa (SA), and Benin, officials say. This comes as Finance minister…
ZIMBABWE has been ranked number three on a key African index for budget transparency and fiscal openness after South Africa (SA), and Benin, officials say. This comes as Finance minister…
DELTA Corporation (Delta) is stepping up a US$40 million capacity expansion programme aimed at increasing brewing capacity and sustaining strong sales momentum. The country’s largest beverages company has been leveraging its strong cash generating capacity to bolster its production capability amid rising demand for its products. This comes on the heels of yet another double-digit…
OLD Mutual Zimbabwe will begin trading on the Victoria Falls Stock Exchange (VFEX) on August 12 after receiving approval to migrate its secondary listing from the Zimbabwe Stock Exchange (ZSE), its parent company Old Mutual Limited has said. In a circular this week, the insurer said the opening share price will be determined through market…
EDGARS Stores will voluntarily delist from the Victoria Falls Stock Exchange (VFEX) pending regulatory approvals. The clothing giant, which debuted VFEX in April 2024, said additional details of the transaction would be communicated once all regulatory processes have been completed. Meanwhile, shareholders and the investing public have been urged to exercise caution when trading the…
Prisca Tshuma ECONET InfraCo says its two flagship developments, the TechCity in Harare and Victoria Falls Lifestyle Villas, are attracting strong market interest ahead of commissioning in the current quarter. Econet Tech City is a planned US$1 billion high-tech industrial park and self-sustaining smart hub in Harare, which spans an 800-acre site near Robert Gabriel…
TIGERE Real Estate Investment Trust (REIT) is betting on its scrip dividend option for unit holders to accelerate its expansion drive targeting a US$100 million net asset value by year-end. The offer gives unitholders the option of receiving their quarterly dividend in cash, additional REIT units or a combination of both after the fund declared…
RAINBOW Tourism Group (RTG) has revealed an ambitious US$4,6 million expansion plan that seeks to add 209 rooms to its existing hotel portfolio over the next 12 months, targeting US$100 million revenue by 2028. The group recently delivered a record-high first-half to June 30 performance after revenue grew by 29 percent to US$26,8 million from…
ADOPTING green technology and sustainable practices is increasingly proving to be a cost-cutting measure while unlocking critical access to financing, industry players say. This emerged at the Annual Sustainability Breakfast Meeting held in Harare, hosted by the Institute of Sustainability in Africa in partnership with the Financial Gazette, under the theme “From Cost Centre to…
THE government plans to expand mineral exploration next year by leveraging technology to grow the country’s resource base and attract fresh investment. In his 2027 Budget Strategy, Finance minister Mthuli Ncube said the government would modernise geological data systems, undertake systematic geological mapping and surveys, and use technology to identify new mineral deposits. “Attention will…
THE Institute of Chartered Accountants of Zimbabwe (ICAZ) is aiming to raise US$50 000 for the creation of a welfare fund to provide financial support for members who fall on hard times. Speaking at the ICAZ Winter School in Victoria Falls last week, ICAZ chief executive William Mandisodza said the institute had adopted an innovative…
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