HWANGE Colliery Company (Hwange) says it has taken decisive action to suspend underground mine production for the next six months. The move aims to prevent coal losses due to spontaneous combustion, a consequence of production exceeding sales. The coal miner’s administrator, Munashe Shava, said the quantity of mined coal currently available is deemed sufficient to…
PIPING products manufacturer Proplastics has earmarked US$1,3 million for capital expenditure this year, a substantial 325 percent increase from the previous year. The move aims to enhance capacity and meet both domestic and regional demand. The company is keen on expanding its exports into the Southern African Development Community (SADC) region. Encouraging gains have already…
DAIRIBORD Holdings (Dairibord) has intensified its commitment to rigorous cost containment measures in response to the ongoing market turbulence. Price volatility, exchange rate fluctuations, and liquidity challenges characterise the current market landscape. “The group is aggressively pursuing a lean and agile cost structure, ensuring sustained profitability and long-term value creation for our stakeholders,” stated Dairibord’s…
GOVERNMENT says it is currently reviewing the share trading suspension of Old Mutual Zimbabwe and PPC Zimbabwe on the Zimbabwe Stock Exchange (ZSE) which has been in effect for close to four years. Old Mutual Zimbabwe, SeedCo International and PPC — all listed on foreign bourses — were suspended from the ZSE in June 2020…
THE Reserve Bank of Zimbabwe (RBZ) says the challenges encountered by formal business operators regarding the statutory 10 percent trading margin on the official exchange rate for instore use will no longer be an issue following the introduction of a much stable new local currency, the Zimbabwe Gold (ZiG). Government through a Statutory Instrument 118a…
RAINBOW Tourism Group Limited (RTG) has announced a strategic partnership with Switzerland-based hospitality group, Grand Metropolitan Holdings BV (GMH). The collaboration aims to establish multiple joint ventures, primarily in the realms of technology and hospitality. The partnership encompasses various facets, including the establishment of management contracts across African hotels, sharing of best practices in hotel…
BUSINESS has been cheered by the launch of the country’s new currency, the Zimbabwe Gold (ZiG), as well as the raft of other measures that were taken by the central bank last week. Captains of commerce and industry who attended Tuesday’s post-monetary policy statement (MPS) meeting in Harare said they had been “greatly encouraged” by…
SEVERAL listed companies have postponed the publication of their full-year results for FY 2023, primarily attributing the delay to technical issues related to audits. However, affected firms have been granted permission to publish their financials by the end of this month. The earnings season typically commences in February and extends until March. However, many of…
EXPERTS say the Reserve Bank of Zimbabwe (RBZ)’s adoption of a market-determined ex – change rate could ensure price stability if consistently implemented. New RBZ governor, John Mushayavanhu, announced the shift through his monetary policy statement last week and on Tuesday, during a post-monetary policy statement review meeting that was hosted by 3Ktv. He assured…
THE Reserve Bank of Zimbabwe’s (RBZ) recent interest rate cut could stimulate economic activity by increasing loan demand, financial and banking industry players say. This development follows the recalibration of the bank policy rate from 130 percent per annum to 20 percent per annum, aligning with the new monetary policy framework. RBZ Governor, John Mushayavanhu,…
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