PROSPECT Resources (Prospect) says its losses widened to $4,14 million in the half year to December 31, 2018 from $2,64 million loss in the prior period due to expenses relating to investments at Arcadia Lithium Mine. The Arcadia Lithium project, which is located on the outskirts of Harare in Zimbabwe and represents a globally significant…
FOR the millions that grew up to Micheal Jackson’s music especially from the release of the world’s best-selling album Thriller on 30 November 1982 until his death on June 25 2009, – the documentary Leaving Neverland must have left many of these viewers struggling what to believe. The main attraction and discussion subject for MultiChoice…
THE pilot of the plane which crashed into the English Channel with Emiliano Sala on board, was not qualified to fly at night, BBC Wales understands. David Ibbotson is thought to have been colour-blind, and his licence restricted him to flying in daytime hours only. Footballer Sala, 28, died when the plane carrying him from…
APPAREL retailer Edgars Stores (Edgars) says its sales volumes during the 52 weeks ended January 6, 2019 suffered due to price increases driven by rising inflation. Monetary and fiscal reforms implemented last year, which included the ring-fencing of Nostro FCAs and RTGS$ accounts as well as the introduction of a two percent tax on electronic…
THE Zimbabwean government has started licensing players in the commercial cannabis business after it gave permits to prospectors, The Financial Gazette has learnt. Although the southern African nation legalised the cultivation of cannabis for medicinal and scientific purposes last year, no entity had been licensed yet. An executive from one of the prospecting entities, who…
WHETHER it is cricket, rugby, golf, soccer or any other sport, matches featuring national teams always bring people together. As they dance and rejoice at stadiums, huddle around the television or listen to live radio broadcasts, families, friends and relatives are brought together and passionately cheer their team on, hoping for a victory that has…
ZIMBABWEAN cotton farmers are up in arms against the government and are demanding to be paid at least 50 percent of their sales in United States dollars. This comes as the Reserve Bank of Zimbabwe early this month increased foreign currency retention thresholds for tobacco farmers to 50 percent from the previous 30 percent. Stewart…
THIS year’s tobacco proceeds will not help improve Zimbabwe’s liquidity challenges, economic analysts have said. This follows high expectations that tobacco earnings ― which traditionally reach US$800 million a year ― could help ease foreign currency shortages, but farmers are holding on to their crop due to low prices. The marketing season opened on a…
DAIRIBORD Holdings (Dairibord) says it was forced to let go of its Malawi unit by the adverse economic situation in Zimbabwe after it failed to leverage its “clean” balance sheet to rescue the ailing subsidiary. The Zimbabwe Stock Exchange-listed milk processor announced last week that it was offloading Dairibord Malawi following consistent weak performance of…
ECONET Wireless Zimbabwe (Econet)’s shares are currently undervalued resulting in low trading activities, said capital markets evaluator Akribos Research Services (Akribos). This comes as Cassava Smartech Zimbabwe (Cassava), which demerged from the telecommunications giant in December 2018, is experiencing increased trade activity on the local stock exchange and its shares have for the most part…
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