SUGAR producer Hippo Valley Estates (Hippo Valley) is fretting over the increasing number of suppliers preferring to be paid in foreign currency at a time the company’s sales mix is witnessing a surge in local currency transactions. The local currency which has been relatively stable since its introduction in April this year has slightly been…
THE European Union (EU) has emphasised the need for Zimbabwe to diversify its energy mix with various renewable sources in response to the global impacts of climate change and the severe drought. This diversification would provide a backup supply, enhancing the nation’s resilience to climate shocks. “Our engagement to support the rehabilitation of the Kariba…
Raheem Sterling has been left out of Chelsea’s squad for their Europa Conference League play-off first leg with Servette. Thursday’s game is the second in succession the 29-year-old England forward has not featured in a matchday squad, after he was omitted from Chelsea’s Premier League opener with Manchester City. Defenders Ben Chilwell, Wesley Fofana and…
ZIMBABWE’S Liquefied Petroleum Gas (LPG) consumption saw a significant increase in the first half of 2024, rising 12 percent to 33,58 million kilograms (kg) compared to the same period last year. This surge, driven by increased power cuts, highlights the country’s ongoing energy challenges. In June alone, LPG consumption jumped by a staggering 55 percent…
MASHONALAND Holdings (Mash Holdings) remains optimistic about the real estate sector, citing some encouraging patches of growth under the currently challenging economic environment. This comes as the property developer has set out a five-year diversification strategy expected to boost its asset portfolio from US$80,7 million it recorded at the close of 2023 to US$120 million…
ZIMRE Holdings (Zimre) says it recently invested over US$2 million in Mozambique and is now focusing on Zambia, where it aims to meet local ownership requirements. Previously, the group stated that it would invest US$5 million in Malawi and Zambia as part of a wider strategy to expand market share and strengthen the firm’s competitiveness.…
SHELTER Afrique Development Bank (ShafDB) has extended a US$15 million credit facility to CBZ Bank for housing development and mortgage origination.
THE Zambezi River Authority (ZRA) is exploring the construction of additional dams at Batoka, Devil’s, and Mupata gorges, with the potential to add over 4 500 megawatts (MW) of power shared between Zimbabwe and Zambia. This come as Zimbabwe is aiming to increase its power supply to 3 467 MW by 2025, while Zambia is…
ASSAY results from diamond drilling at Kavango Resources’ Nara Gold Exploration Project confirm the presence of a gold mineralised system with significant mining potential. Higher gold grades exceeding five grams per tonne were found in narrow pinched zones, suggesting the project could yield substantial returns. “Our first phase of exploration at the Nara Project confirms…
FIDELITY Life Assurance of Zimbabwe (Fidelity) says its various investments have surpassed the seven percent return threshold resulting in improved policy and share-holder value. The group has been supporting land purchases through its Vaka Yako product-a US-dollar indexed housing investment targeted at offering affordable housing across the country which was launched in 2022. The product…
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