FOR many Zimbabweans, David Pocock is just another ‘son of the soil’ who is now playing for Australian professional rugby union football team, the Brumbies. But for the sports’ followers, he is one of the game’s finest open-side flankers, a vocal and inspirational player whose silence can be too loud for his team mates or…
ZIMBABWE’S shrinking economy — compounded by skyrocketing inflation, the escalating cost of doing business and surging parallel foreign exchange rates — is worsening the plight of commerce and industry in the country. This comes as more and more experts have expressed fear that the country could once again plumb the depths of economic gloom that…
THE revival of Zimbabwe’s tourism sector is paying off for investors after listed hospitality counters enjoyed considerable gains on the Zimbabwe Stock Exchange (ZSE) last year. Local equities firm IH Securities’ (IH) Tourism Index as at the end of the first quarter of 2019 shows that the sector, which had aggregated year-on-year gains of 231,15…
FIRST Mutual Holdings Limited (FMHL) says it is in the process of relocating its reinsurance business, First Mutual Reinsurance Company (FMRE), to Botswana in order to escape the limitations of the local operating environment, which has been unfavourable for the business. This comes as an economic crisis in Zimbabwe, which has been characterised by foreign…
THE Zimbabwe National Statistics Agency (Zimstat) says it has changed the classifications and weights that it uses in preparing the Consumer Price Index (CPI) in order to conform to international standards. This comes as the credibility of the agency’s statistics has been brought into question many times by a number of analysts and independent economists.…
OREIGN investors were net buyers on the Zimbabwe Stock Exchange (ZSE) in March, purchasing shares worth of $9,2 million, with particular interest in financial service firm, Old Mutual Zimbabwe (Old Mutual). According to ZSE figures, foreign purchases accounted for $24,8 million worth of shares while sales amounted to $34 million during the month under review.…
ZIMBABWE Stock Exchange listed financial services group FBC Holdings (FBC) says it is resuscitating its venture capital business in a bid to widen its horizons as well as to provide alternative funding channels for small businesses. Venture capital is a form of financing that is provided by firms or funds to small, early-stage, emerging firms…
THE Zimbabwe national cricket team’s victory over the United Arab Emirates (UAE) in a One Day International (ODI) series will do much to lift the spirits of local followers of the sport who are yet to fully recover from the disappointment of seeing their team failing to qualify for next month’s global showcase. Zimbabwe failed…
ZIMBABWE Stock Exchange-listed firms have admitted to flouting international reporting standards as a result of the country’s recently introduced monetary reforms. This comes as government in February gazetted Statutory Instrument 33 of 2019 (SI 33), which gave effect to the introduction of the RTGS dollar as legal tender and prescribed that “for accounting and other…
BUSINESSMAN Phillip Chiyangwa is in the process of finalising the transfer of Nyarungu Estate (Nyarungu) to the National Social Security Authority (NSSA) after a tripartite arrangement involving his Pinnacle Property Holdings (Pinnacle) and two stricken banks, it has been learnt. Although the self-styled empowerment crusader was coy on details of the deal ― and only…
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