ZIMTRADE is optimistic about the ongoing discussions regarding the resumption of direct flights between Zimbabwe and the United Kingdom, which is expected to boost business exchanges and trade growth. Transport and Infrastructural Development Minister Felix Mhona recently announced that direct flights from Zimbabwe to the UK are set to resume, with the goal of strengthening…
ECOCASH Holdings Zimbabwe (Ecocash) says despite the unpredictable macroeconomic environment, it is confident of sustained growth in the coming year. Zimbabwe’s economic environment is evolving with the new currency in the market and regulatory changes being made to support its stability. “Being a well-diversified group positions us to take advantage of several opportunities in our…
ZIMBABWE Stock Exchange-listed diversified company, TSL Limited (TSL) wants to intensively invest in its core business sectors of agriculture and logistics after realising significant revenue gains during the third quarter ended July 31,2024. Quarterly group revenue rose 13 percent from last year’s levels, underpinned by strong volume expansion in the logistics division as it plans…
PLAYERS in the construction industry are pushing for an increase in budget allocation from the current two percent to at least 10 percent to unlock the sector’s full potential. Overall spending towards infrastructure, including devolution, for 2024 amounts to ZWL$10 trillion, comprising fiscal resources of ZWL$8,1 trillion, statutory and other resources of at least ZWL$1,4…
THE Airports Company of Zimbabwe (ACZ) is exploring financing options for a runway extension at Joshua Mqabuko Nkomo International Airport in Bulawayo to accommodate larger aircraft and improve aviation infrastructure. Named after the late Vice President Nkomo, the airport features two runways, one measuring 2 588 metres long by 45 metres wide, and the other…
THE Civil Aviation Authority of Zimbabwe (CAAZ) is working with industry stakeholders to mandate the installation of transponders on small aircraft to improve air traffic safety. The devices allow planes to be detected by the Secondary Surveillance Radar (SSR) system at Robert Gabriel Mugabe International Airport, providing accurate location and altitude data for better flight…
NMB Bank Zimbabwe Limited (NMB) seized properties worth ZWL11,5 billion in 2023 as part of efforts to recover loans from defaulting clients. The group closed the year 2023 with a loan book amounting to ZWL494,5 billion, with a major emphasis on recovering non-performing loans. Agriculture, which represents 31 percent of group loans, has been one…
PASSENGER traffic in Zimbabwe’s airports surged by 24,8 percent in the first half of 2024, reaching 1,02 million passengers compared to 820 667 during the same period in 2023, according to the Civil Aviation Authority of Zimbabwe (CAAZ). The figures reflect significant growth in both international and domestic travel, indicating a robust recovery in the…
RESEARCH firm FBC Securities anticipates moderate gains for the Zimbabwe Stock Exchange (ZSE) as the year draws to a close, driven by selective buying in sectors expected to perform well despite ongoing economic challenges. In its monthly stockpick report, FBC Securities pointed to consumer staples and export-oriented industries as key “defensive counters” likely to perform…
LONDON Stock Exchange-listed Kavango Resources PLC (Kavango) is set to strengthen its position in the metals exploration sector by acquiring a 45 percent stake in its drilling partner, Equity Drilling Investment, for US$22 500. This acquisition aims to create a comprehensive supply chain solution for Kavango’s exploration activities in Zimbabwe. Through its local subsidiary, Kavango…
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