ZIMBABWE Stock Exchange-listed cables maker CAFCA said sustainability of its September 30, 2018 profit will be based on government supporting local manufacturers and availability of foreign currency for raw material imports. CAFCA recorded a $3,5 million profit after tax in the year to September 30 2018, up from $726 213 posted in prior comparable period.…
FALCON Gold Zimbabwe (Falgold) says its financial results for the period ending September 30, 2018 will be delayed due to a number of factors. In a cautionary statement, the company said it is in communication with its advisors on the impact of matters of concern on the company’s operations and financial condition. “This will result…
Kaizer Chiefs attacker Khama Billiat says the pressure at the club is good because it means he will never relax. Billiat made the big move from Mamelodi Sundowns to Amakhosi, arguably the most talked about transfer during the last window, and he has without a doubt been the club’s best player, with nine goals and…
GOVERNMENT has admitted that its fiscal and monetary measures have contributed to a slump in gold deliveries by small-scale miners, who have been tendering 60 percent of Fidelity Printers and Refiners (FPR)’s bullion haul or receipts for some time. This also comes amid concerns that Zimbabwe has continued to lose tens of millions of dollars…
BINDURA Nickel Corporation’s (BNC) says it has put its $20 million smelter project on hold due to declining nickel prices. When the company raised funds for the smelter project through a bond in 2014, it had assumed that nickel prices would rise from $16 500 per tonne in 2014 to $21 000 in 2016 before…
ASTRO Mobile (Astro) says it has shelved plans to set up a mobile phone manufacturing plant in the country due to lack of government support. The company, which was established in 2011, has been relying on toll manufacturing arrangements with Chinese firms. Munyaradzi Gwatidzo, Astro’s chief executive, said the company has been sitting on plans…
SEEDCO, one of Africa’s largest seed producers, says it continues to face some difficulties associated with the general sub-optimal business environment on the continent. This comes as research has it that the size, diversity and inherent complexity of doing business across the continent test even the best-laid corporate strategies for growth in Africa. Morgan Nzwere,…
FORMER Zimbabwe national captain Brendan Taylor and star all-rounder Sikandar Raza have been named among the 346 players around the world shortlisted to go under the hammer at the player auction for the 2019 Indian Premier League (IPL) to be held on December 18 in Jaipur. Initially five Zimbabwe national cricket team players had positioned…
SEEDCO’S Botswana Stock Exchange (BSE)-listed spin off, SeedCo International, last week posted its first financial results post-unbundling showing that it more than halved its losses during the half-year ended September 30, 2018. The company, which was unbundled during the period under review, posted a loss of $1,5 million, progressing from a loss of $3,3 million…
GOVERNMENT should give title deeds to informal settlers who were duped by land barons as a way of strengthening the country’s land bank, economist Eddie Cross has said. Over the past few years, numerous illegal settlements have emerged as a result of fraudulent land distributions, which have been perpetrated by errant “land barons”. “These land…
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