THE Zimbabwe Stock Exchange’s (ZSE) main industrial index gathered a return of 46,28 percent last year, way lower compared to 130,42 percent in 2017, financial service company Old Mutual has said. In its portfolio manager’s report for the fourth quarter of last year, Old Mutual Securities (OMSEC) said the equity market experienced significant volatility in…
ZECO Holdings (ZECO) shareholders seem to be holding on to the struggling engineering firm’s stock, despite its extremely infrequent trades on the Zimbabwe Stock Exchange (ZSE). According to official ZSE data, the company’s shares have only traded on 10 instances over the past five years. In comparison, most counters have traded more than that on…
UNITED Refineries, one of Zimbabwe’s fastest growing agro-processing firms, says it lost about $2 million in potential revenue when it was forced to suspend operations for two weeks due to the recent stayaway. The southern African country, which is facing its worst economic crisis in a decade, was left to count its losses after a…
FIRST Capital Bank, (FCB) has suspended the proposed unbundling of non-core assets for listing on the Zimbabwe Stock Exchange (ZSE). In a statement, on Monday, FBC formerly Barclays Bank Zimbabwe said it had indefinitely deferred plans to withdraw the financial institution’s non-core banking properties. “Further to the cautionary statement issued by the board on September…
ZIMBABWE missed its revised gold output target for 2018 by two percent after closing the year with deliveries of 33,28 tonnes from the projected 34 tonnes . Government had revised the target from 30 tonnes to 34 tonnes after deliveries surged from two tonnes in February to 3,9 tonnes in August. Deliveries of the yellow…
ZIMBABWE’S deteriorating economic situation and rising labour unrests could be improved through dialogue between government, business and labour, a leading industrialist has said. This was after it had emerged that last week’s stay away, which left at least 12 people dead and more than 170 injured, could have cost the country as much as a…
INDUSTRY has suffered significantly from the suspension of Statutory Instrument 122 of 2017 with a Confederation of Zimbabwe Industries (CZI) survey showing that its amendment has reversed gains attained since 2016. In October last year, government suspended sections of the law to increase the flow of basic goods into the market after panic and speculative…
INDUSTRY minister Mangaliso Ndlovu says the local manufacturing sector incurred a trade deficit of $843 million in 2018. This comes as Zimbabwe struggles with a persistent trade deficit, which has become one of the country’s major challenges in its quest for economic recovery, with official data showing that the cumulative trade shortfall since 2009 has…
LATEST statistics from the Zimbabwe National Statistics Agency (ZimStat) show that the country’s trade deficit during the 11 months to November 30, 2018 increased to $2,36 billion from $1,5 billion in the comparable period in 2017. The southern African country has persistently run trade deficits since dollarisation in 2009, recording only a single monthly trade…
ANALYSTS have said government’s proposed rebate of excise duty on fuel consumed by registered businesses will not contain inflation. In a statement on Sunday, Finance minister Mthuli Ncube called on businesses to hold prices at levels before Sunday when President Emmerson Mnangagwa announced a review of fuel pump prices to $3,11 and $3,31 per litre…
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