SUBDUED prices of platinum group metals (PGMs) globally during the course of 2024 adversely impacted development of Karo Mining Holdings (Karo)’s platinum project owing to delays in funding workstreams, the company has reported. Karo, a local subsidiary of South African based resource group Tharisa plc said the PGMs’ price environment necessitated a review of the…
THE restructuring at CBZ Holdings Limited (CBZ) which commenced last year following major acquisitions by the group is set to be concluded at the end of this month as it streamlines operations, a senior executive of the company has said. The financial services behemoth owns subsidiaries in banking, insurance, investments, wealth management, mortgages, retail finance…
NATIONAL Tyre Services (NTS) says it has resumed direct procurement of budget tyre brands from China as it seeks to improve product availability, market share retention and enhancing competitiveness. The company reported a “slight decline” in new tyre volumes during the six months to September 30, 2024 owing to supply chain glitches.In a statement accompanying…
Elton ManguwoStaff Writer WILLDALE Limited has issued a cautious guidance for the year 2025 anticipating a continuation of tight liquidity conditions which led to working capital constraints and production inefficiencies during the financial year ended September 30, 2024. The brickmaking concern was further hampered by poor cash generation with cash from operations dipping 18 percent…
ZIMBABWE’s new gold production record of 36,48 tonnes in 2024, up 21 percent from 30,1 tonnes the prior year, should give a major boost to the country’s local currency — the ZiG — which is backed by a basket of minerals, mainly gold, analysts say. Gold producers broke the national target of 35 tonnes that…
DAIRY farmers in Zimbabwe produced 104,63 million litres in the first eleven months of 2024, just 11 million litres shy of the target for the year, despite a challenging operating environment. The country’s dairy industry experienced a resurgence, with August 2024 marking a record monthly high of 10,15 million litres, the highest output in seven…
IMPROVED volume performance and cost cuts enabled sugar producing firm Star Africa Corporation (Star Africa) to return to profitability, shrugging off stiff competition from cheaper imported sugar flooding the local market, the company has said.In its interim results statement for the six months to September 30, 2024, company chairman Rungano Mbire said the group reassessed…
MARK Manson, in his book The Subtle Art of Not Giving a F****, argues that happiness isn’t the absence of problems, but rather the act of solving them. “Happiness comes from solving problems,” he writes. “The secret sauce is in the solving of the problems, not in not having problems in the first place.” This…
Contango Holdings Plc says it has received its first royalty payment of US$200 000 from its Muchesu coal project in Zimbabwe.This payment is part of a Mineral Royalty Agreement (MRA) with Huo Investments (Pvt) Limited, which is set to bring the total royalty receipts to US$1,000,000 by the end of this month, with an additional…
Prisca TshumaStaff Writer ZIMBABWE’S exports rose by 29,7 percent to US$905,2 million in November 2024, up from US$698,1 million recorded in October 2024, according to the latest figures. Data from the Zimbabwe National Statistics Agency (Zimstat) shows that tobacco was among major exports.“Among the top ten products exported in November 2024 were semi-manufactured gold, which…
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