FOREIGN investors were net buyers accounting for $4,3 million worth of shares on the Zimbabwe Stock Exchange (ZSE) in November, with particular interest in Old Mutual, Delta Corporation and Axia Corporation. According to figures from the local bourse, foreign purchases accounted for $39 million worth of shares while sales amounted to $34,8 million during the…
TELONE says local cities and towns should take advantage of the telecommunications company’s capabilities in creating modernised communities. The fixed telecommunications operator, which has been targeted for partial privatisation, has partnered with Mutare to develop a “Smart City concept”. Speaking at the Manicaland Smartcities Summit in Mutare on Friday, Jeremiah Munembe, TelOne’s innovation executive, said…
THE World Bank has partnered with Steward Bank in developing a decision-making system that allows local financial institutions to give out collateral-free loans. Last week, the Cassava Smartech banking unit, in conjunction with mobile money service Ecocash, launched a collateral-free loan service, which it says is targeted at individuals and small businesses that cannot put…
SOUTH African investments remain at the top of approved projects and capital inflows into the country, figures from the Zimbabwe Investment Authority (ZIA)’s half year report show. This also comes against the background of a long established fact and phenomenon that Pretoria remains Zimbabwe’s biggest trading partner, and there has been renewed debate for Harare…
THE referee who officiated Tyson Fury’s world title fight with Deontay Wilder has denied his count was slow and said he just wanted the “best for boxing”. Briton Fury was knocked down in the ninth and 12th rounds but regained his feet in a stunning draw in Los Angeles. American Wilder has questioned Jack Reiss’…
CASSAVA Smartech (Cassava) will next week become Africa’s first technology company to list after Econet Wireless Zimbabwe (Econet) shareholders approved the firm’s spin off. This comes as Kenya’s Safaricom has been considering weaning off its mobile money platform, M-PESA, for years, but is yet to do so. Econet shareholders last Thursday voted in favour of…
PACKAGING products manufacturer Nampak Zimbabwe says its performance during the year ended September 30, 2018 was constrained by foreign currency shortages. The country has persistently run trade deficits since dollarisation in 2009, plunging the economy into an intensifying foreign currency shortage that has threatened the viability of businesses. “Generally, the group’s performance could have been…
LISTED seed producer SeedCo says it expects Zimbabwe’s current economic situation to have an adverse impact on its trading year. Zimbabwe’s official inflation, which many believe to be grossly understated, was reported at 20,85 percent for October, effectively putting the country in high inflation and underpinning an economic crisis that has been headlined by a…
TM PICK n Pay (TM PnP) says it will not buckle under pressure and wantonly increase prices in line with rising foreign currency parallel market rates and inflation. This comes as prices of goods and services have spiked dramatically since the start of October on the back of intensifying foreign currency shortages, made worse by…
THE Zimbabwe Stock Exchange (ZSE) on Friday put on $400 million, coming off three consecutive losses as the market reacted to Finance minister Mthuli Ncube’s maiden budget statement. Last Thursday, the minister unveiled a budget that will see an increase in import duty for fuel while duty for selected goods — including motor vehicles —…
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