SEED Co International says it is well prepared to respond to the needs of farmers in light of the mixed rainfall forecasts. Latest forecasts indicate normal-to-above normal rainfall in most parts of East Africa, and below-normal rains in Southern Africa from November 2023 to January 2024. “A mixed selling season is being anticipated benefiting from…
CBZ Holdings (CBZ) was one of the major gainers on the Zimbabwe Stock Exchange this Wednesday after an announcement of changes to the board and management of the financial services giant. The group’s stock was up by 5,3 percent, its biggest jump this week, as CBZ appointed Luxon Zembe as acting board chairman and Lawrence…
ZIMRE Holdings (Zimre) says the recent amalgamation of its units in Botswana will allow it to explore more product offerings. This comes after regulatory changes enabling it to underwrite domestic business saw the group combining its two Botswana reinsurance businesses, Emeritus International Reinsurance Company and Emeritus Reinsurance Company. The operational company in Botswana will be…
ZIMBABWE is using proceeds from platinum exports to settle a US$400 million loan from the African Export-Import Bank (Afreximbank) amid persistent struggles to access international lines of credit, Finance minister Mthuli Ncube has said. In a public debt report tabled before Parliament recently, Ncube stated that the Afreximbank facility comprised the bulk of external loan…
CALEDONIA Mining Corporation (Caledonia) says its Gwanda operation at Blanket Mine will continue to anchor its countrywide operations, as prospects for its lifespan increase. In a statement accompanying the company’s operating and financial results for the quarter and the nine months ended September 30, 2023, Caledonia’s chief executive, Mark Learmonth alluded to what he described…
CIVIL service pensioners will start getting payments in 2024 as compensation for losses they incurred in 2009 when the government abandoned the Zimdollar due to hyperinflation, Finance minister Mthuli Ncube…
FINANCE minister Mthuli Ncube says climate-proofing initiatives carried out by the government over recent years will shield the economy from a sharp contraction next year, even if the current dry spell persists. It comes as the late start to this year’s rainy season is causing significant anxiety among both farmers and economic experts, amid rising…
RIOZIM continues to pursue its pipeline power projects, with particular focus on solar energy, which will provide a lasting solution to the power challenges for its mines. In the group’s 2022 annual report, chairman Saleem Beebeejaun said power supply has remained a major threat to the group’s operations. “The group is focusing on backup power…
FIRST Capital Bank (FCB) says it will continue to prioritise the creation of offshore lines of credit in the short-term to give impetus to the balance sheet growth and mitigate downside risks associated with the tight liquidity regime. This comes as the regulatory authorities have been implementing measures for liquidity sterilisation to contain money supply…
INNSCOR Africa (Innscor) says its investment programme has led to the establishment of new business units and products, enabling the expansion and modernising of existing manufacturing lines and product categories. The Victoria Falls Stock Exchange-listed group said the investment will ultimately enhance the overall manufacturing efficiencies and capabilities of the group as critical mass is…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More