WESTPROP HOLDINGS (Westprop) posted an 80 percent increase in revenue to US$29,05 million for the year ended December 31, 2024, driven by increased demand for residential real estate and successful progression in project execution.The revenue increase is from a prior year comparative of US$16,09 million.“This growth was driven primarily by Pomona City Residential Estate, which…
CBZ Holding’s (CBZ) loan book grew by ZiG72,85 million (0,87 percent), to ZiG8,37 billion in the first quarter ended March 31, 2025 from ZiG8,3 billion posted same period in 2024, reflecting the group’s continued commitment to extending credit to the market.This was underpinned by a solid deposit base of ZiG26,79 billion, which ensured adequate liquidity…
ZIMBABWE loses millions of US dollars annually due to a growing underground network of informal car dealers who smuggle large sums of foreign currency out of the country to purchase…
SEED CO has announced the release of new, resilient vegetable seed varieties engineered for enhanced disease tolerance as it seeks to protect and grow its market share in the seed manufacturing sector.The incessant rains that swept across the country mainly during the first quarter of 2025 resulted in detection of new disease variants in some…
DELTA Corporation (Delta) recorded a five percent increase in group revenue to US$807 million for the year ended March 31, 2025, reflecting volume growth in lager beer and sugar tax-induced price increases in sparkling beverages.The beverages manufacturer said the proportion of domestic sales undertaken in foreign currency was around 80 percent for most of the…
CALEDONIA Mining Corporation (Caledonia) has posted a 46 percent increase in revenue hitting US$56,2 million in the first quarter ended March 31,2025 from US$38,5 million in the comparable period last year thanks to higher gold prices and increased output.Gold miners have had a good start to the year as selling prices breached the US$3000 per…
THE Horticulture Development Council (HDC) has stated the need for the government to guarantee land security to assure investors in contract farming within the horticulture sector.Speaking to The Financial Gazette at the Zimtrade-Singapore breakfast seminar, the HDC’s operations manager, Mandla Mataure, emphasised the necessity of assuring investors that their investments, particularly in long-term contracts, will…
THE National Competitiveness Commission (NCC) believes the added costs and potential red tape of the Conformity Based Conformity Assessment (CBCA) programme will cause short-term problems for businesses, harming Zimbabwe’s competitiveness.Initially introduced in 2015, the CBCA programme is a scheme designed to verify the quality and safety of imported goods to safeguard consumers and the local…
THE Reserve Bank of Zimbabwe (RBZ) has adopted a firm stance on its export surrender requirements despite persistent concerns from business.This emerged as a key takeaway from an engagement meeting this week between the apex bank and the Zimbabwe National Chamber of Commerce (ZNCC), the details of which were outlined in a report by the…
BY EPHIAS RUHODE IF someone had told me 33 years ago as a student of computing, that understanding artificial intelligence (AI) would one day be as important to everyone as knowing how to make popcorn, I might have laughed while trying to debug my long Cobol code. Back then, AI was never pitched as something…
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