PPC says its Zimbabwe operations increased its year-to-date dividend payout to US$13 million, up from US$11 million in the comparable period, driven by a surge in free cash flow generation.The cement producer said PPC Zimbabwe reported a nine percent decline in volumes during the period to January 31, 2025, mirroring the trend seen at the…
TANGANDA Tea Company (Tanganda) has embarked on a strategic initiative to implement grid-tying and net metering arrangements to optimise excess power generated from its solar plants while cutting significantly on energy costs.The move is also expected to insulate the group from persistent electricity cuts which industry experts say have, on average, cut by half the…
RAINBOW Tourism Group Limited (RTG)’s acquisition of Montclair Hotel and Casino in the eastern highlands is at an advanced stage, with the purchase agreement signed, a top company executive has said. The deal is a strategic move that aligns with RTG’s five-year strategy and growth objectives, enabling the hotelier to enhance its footprint in the…
INNBUCKS Microbank Limited (InnBucks)’s decision to charge a flat US$1 monthly fee on unlimited transactions to customers on its wallet service boosted active users, but significantly cut back on fees income during six months to December 31, 2024. The model dubbed — KaOne subscription — resulted in fee and commission income dropping by close to…
ZIMBABWE recorded a decline in gold deliveries in February, with total output falling to 2 568,25 kg from 3 134,35 kg in January.The drop was driven by a significant decrease in small-scale mining contributions, which fell from 2 265,55 kg to 1 640,31 kg.While primary producers saw a modest increase from 868,80 kg in January…
ZIMBABWE Stock Exchange-listed diversified company, TSL has pulled out of two joint-venture businesses of farming and vehicle rental as it streamlines operations to focus more on its core tobacco handling business.The discontinued operations generated US$6,03 million in revenue for the year ended October 31, 2024 which was 29,07 percent above previous year’s US$4,67 million. However,…
THE European Investment Bank (EIB Global) and Stanbic Bank Zimbabwe have launched a €20 million credit line, offering tailored long-term loans to small businesses.The credit is designed to stimulate economic growth and address the persistent funding challenges local businesses face.The strategic partnership aims to unlock crucial financial resources for small and medium-sized enterprises (SMEs), a…
NEDBANK has announced plans for substantial investment in Zimbabwe’s key economic sectors, aiming to expand its portfolio and drive sustainable development.This strategic move responds to Zimbabwe’s evolving economic landscape, which presents both challenges and opportunities.Presenting the bank’s financial performance for the year ending December 31, 2024, the group managing executive, Terence Sibiya, confirmed the bank’s…
ECOBANK Zimbabwe’s multi-million-dollar head office project in Harare promises to enhance the bank’s operational capabilities while making a significant commitment to sustainability and community development. Ecobank Zimbabwe managing director and…
THE Forestry Commission is actively pursuing the recovery of nearly US$1,2 million in outstanding lease payments by engaging a debt collection agency.The parastatal generates part of its income through leases and concessions, which include wildlife safaris and timber harvesting.Speaking to The Financial Gazette, acting director-general Joyce Gombe confirmed that the outstanding debt has significantly impacted…
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