THE Zimbabwe Stock Exchange (ZSE) had an eventful 2018, breaking a number of records including the improbable feat of most listings in a year since the market’s rebasing in 2009. The local bourse welcomed four counters during the year, namely Old Mutual, First Capital Bank (FCB), SeedCo International (SeedCo) and Cassava Smartech Zimbabwe (Cassava). Listing…
SOUTH Africa’s Tongaat Hulett (Tongaat) is in a precarious position as it faces a negative cash flow in the current trading period due to its inability to recieve dividends from its Zimbabwean and Mozambique operations, an equity analyst has said. This comes as the company also faces various funding constraints due to various factors. The…
ARISTON Holdings (Ariston) says its operations have not been affected by Zimbabwe’s adverse economic environment due to the company’s foreign currency generation function. This sets the listed agro group apart from most local businesses, which have been devastated by the country’s foreign currency crisis. The operating environment continues to be characterised by a deterioration in…
PROPERTY is currently the safest investment in Zimbabwe, which is grappling with rising prices and an unstable economic environment. The Financial Gazette’s Online Editor Paul Nyakazeya spoke to the Estates Agents Council of Zimbabwe (EACZ) chairperson Oswald Nyakunika for an insight into the property sector and the options available for investors. PN: What were the…
THE delayed start to Zimbabwe’s rainfall season and the prevailing economic challenges will impact on food security in 2019, the Famine Early Warning Systems Network (FEWS NET) has said. The start of the 2018-19 rainfall season has been delayed and rains have been erratic so far. “This has adversely affected on-farm activities such as land…
BUSINESS must brace for tougher times this year as the difficult economic conditions experienced in the country last year are showing no signs of letting up any time soon, analysts have warned. This comes after 2018 was characterised by a sharp increase in inflation, rising prices of goods and services, acute shortages of foreign currency…
ZIMBABWE has lost millions in potential foreign currency earnings after a surge in global gold prices amid subdued local deliveries. Over the past seven weeks, gold prices have gained about 10 percent to a six-month peak of $1 292 per ounce as of Tuesday, moving closer to the key $1 300 an ounce level that…
TELONE’S profitability in 2018 was inhibited by unpaid government invoices after the Zimbabwe Revenue Authority (ZIMRA) charged the company penalties and interest amounting to $11 million for unpaid taxes, which related to the outstanding bills. Chipo Mtasa, TelOne’s managing director, told the Parliamentary Portfolio Committee on ICT in December last year that the company was…
SIMBISA Brands (Simbisa) and Hippo Valley Estates (Hippo Valley) have been bumped out of the Zimbabwe Stock Exchange’s (ZSE) Top 10 index by newcomers Cassava Smartech Zimbabwe (Cassava) and SeedCo International. The index’s constituents were reviewed in line with the ZSE Indices ground rules as at the last day of trading in the quarter ending…
HARARE City Council (HCCL)’s parking management subsidiary, City Parking, is reeling from revenue losses on the back of economic challenges in Zimbabwe. Just in the first half of 2018, the subsidiary lost out on over $1,5 million in potential revenue to touts, vendors and government institutions. The Financial Gazette’s Online Editor, Paul Nyakazeya (PN), interviewed…
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