GOVERNMENT says it will ban the export of lithium concentrate by January 2027. Addressing a post-Cabinet press briefing in Harare yesterday, the minister of Information, Jenfan Muswere, said the country’s lithium ore bodies were multi-element containing a number of minerals. “Pertaining to the lithium sub-sector, Zimbabwe produces mainly mostly spodumene ores which are critical in…
BY EPHRAIM CHAWONEKA …role of local agencies in developing market AS Zimbabwe works to stabilise and grow its financial system, institutional investors have become increasingly important players in the country’s capital markets. These include pension funds, insurance companies, and development finance institutions, which together manage a significant portion of long-term domestic capital. Their participation is…
MASHONALAND Holdings (Mash Holdings)’s operating profit grew 35 percent year-on-year to US$1,04 million during the four months to April 30, 2025 driven by higher revenue from new properties and improved margins.As a result, group operating profit margin of 46 percent, improved from 36 percent the prior year, indicating not only higher revenue but improved operational…
STEWARD Bank is set to transition into a fully-fledged neobank, as part of an ongoing restructuring process that includes renaming it to TN CyberTech Bank Limited. EcoCash Holdings Zimbabwe (EcoCash), which now controls Steward Bank, announced plans to rebrand to TN CyberTech Investments Holdings Limited, subject to shareholder approval at an extraordinary general meeting slated…
ECONET Wireless Zimbabwe (Econet) is set to deepen its integration of artificial intelligence (AI) and accelerate digital transformation across its operations to enhance operational and cost efficiencies. The telecommunications company’s chairman James Myers said Econet is adopting AI into its processes to enhance operational efficiencies and drive cost productivity. “Looking ahead, leveraging innovation and deepening…
CONSOLIDATED packaging manufacturer Nampak Zimbabwe has reported a significant drop in key profit margins due to increased competition, which is eroding its market share. The informalisation of the retail sector and disruptions to the route-to-market also contributed to declining demand from some customer segments. In a statement accompanying the company’s financials for the first half,…
KAVANGO Resources is expanding gold production in Zimbabwe, targeting 300 tonnes, with a cash-flow-funded strategy to build a 10-million-ounce gold camp. Operating through its Zimbabwean subsidiary, Kavango Zimbabwe, established in July 2023, the company is targeting several historic high-grade gold mines in the Matabeleland region. It focuses on economic bulk mining. Chief executive Ben Turney…
INSURANCE group Zimre Holdings (ZHL) is strategically positioning its property trust and reinsurance unit to capture and grow capital both locally and regionally. This move comes as Zimbabwe faces macroeconomic volatility. Last month, the group listed Eagle Real Estate Investment Trust on the Victoria Falls Stock Exchange, marking a significant milestone as the market’s first…
MOZAMBIQUE has called for enhanced trade relations with Zimbabwe, focusing on mutual support in food production. In an interview with The Financial Gazette during a ZimTrade breakfast meeting, Mozambican Ambassador to Zimbabwe, Carvalho Muaria, stated that strengthening trade ties will help African nations support one another and boost intra-continental trade. “I think it is time…
US President Donald Trump has said his relationship with Elon Musk is over. “I would assume so, yeah,” Trump told NBC News on Saturday, when asked if he thought the…
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