THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it is on track to meet and potentially exceed its annual revenue projection of US$3,5 billion following a record performance in the first quarter of 2026. Data released by the MMCZ shows that total mineral sales for the first three months reached 1,288,761 metric tonnes, generating a…
DELTA Corporation’s revenue reached US$1,09 billion for the year ended March 31, 2026, a 35 percent increase over the prior year, driven by strong volume growth, improved product and pricing mix. The beverage manufacturer said the proportion of domestic sales denominated in foreign currency was 94 percent for the full year, an increase from 80…
GENERAL Beltings (GB) Holdings says Zimbabwe’s projected six percent economic growth will drive demand in key sectors but cautioned that regional competition brought by the African Continental Free Trade Area (AfCFTA) will intensify pressure on local firms. AfCFTA, which commenced trading on January 1, 2021, created a market of about 1,2 billion people and established…
CAFCA says a US$1 million solar plant commissioned at its factory last month will cut electricity costs by 30 percent, helping the company improve competitiveness against rising imports. The solar system, which produces 1MW on the Alternative Current side and peaks at 1,16MW, forms part of the company’s strategy to reduce production costs and cushion…
OLD Mutual Zimbabwe Limited (OMZIL) is seeking shareholder approval to convert an US$84,3 million debt owed to subsidiaries into preference shares as it aims to ease cash flow pressure and clean up its balance sheet. Under the proposal to be decided at an annual general meeting stated for May 27, OMZIL will issue the new…
CALEDONIA Mining Corporation’s revenue for the first quarter ended March 31, 2026, grew 18,3 percent year-on-year to US$66,43 million buoyed by stronger gold prices. This is despite lower production at Blanket Mine, which produced 14 767 ounces of gold during the quarter and sold 13 372 ounces, while consolidated gold sales, including output from the…
MUTAPA Investment Fund (MIF) is confident of servicing US$1,9 billion Treasury Bills (TBs) issued by the government for the acquisition of a 35 percent stake in Kuvimba Mining House in 2024, driven by rising mineral prices and asset value growth. The TBs are payable over 10 years with a grace period of three years, commensurate…
AFRICAN Distillers (Afdis) invested US$4,4 million in plant modernisation during the year ended March 31, 2026, to improve efficiency, expand capacity and support rising demand across its product portfolio. The country’s largest spirits maker said the capital expenditure was directed towards upgrading plant and equipment amid intensified market competition. “These investments strengthened the operating platform…
THE National Social Security Authority (Nssa) is assessing its capacity to implement a long-term pension adjustment after granting pensioners a 100 percent increase in their May allowance as an interim relief measure. The temporary boost comes as many pensioners continue to struggle on monthly payouts of about US$70 to US$80, which fall far short of…
KAVANGO Resources plc will issue 36,596,469 new ordinary shares on or around May 15, 2026, to Comarton Consultants and six pension funds under the Comarton Managed Pension Funds’ Investments Consortium as part of an ongoing investment agreement. The shares will be issued at £0,01 each, using a Bank of England exchange rate of £1 to…
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