THE persistent monetary crisis has pulled the Zimbabwe Stock Exchange out of a euphoria-driven slump that was triggered by the resignation of Robert Mugabe in November last year. Since mid-March, the market has gained about $2 billion in a recovery that defies the fundamentals, with stocks still overvalued. This situation has been brought about by…
FUNDING for voter education will be liberalised through the Electoral Amendment Bill that is awaiting President Emmerson Mnangagwa’s signature. A clause in the Bill will repeal a provision that required all foreign contributions for voter education to be channelled through the Zimbabwe Electoral Commission (ZEC). “No foreign contribution or donation for the purposes of voter…
GOVERNMENT is implementing private sector reforms to improve ease of doing business to boost local and foreign investment, Energy Minister Simon Khaya Moyo has said. Speaking at the launch of the Zuva Petroleum and New York Stock Exchange-listed Valvoline Inc partnership last Thursday, Moyo said Zimbabwe’s competitiveness as an economy and investment destination was not attractive,…
AN export incentive scheme unveiled by the central bank two years ago spurred growth of exports at listed agro-industrial firm Ariston Holdings Limited, which yesterday reported a 53 percent rise in revenue to $5,3million for the half year to March 31, 2018. Ariston, which recorded over $3,48 million in revenue the previous year, said growth…
PLANS to expand Zimbabwe’s lithium operations could increase the country’s commodity risk exposure, the World Bank has said. In a report published last month, the World Bank said the southern African country is vulnerable to falling commodity prices. “While Zimbabwe currently enjoys a favourable external environment, its economy remains vulnerable to falling commodity prices. Zimbabwe…
TOMORROW will mark Peter de Villiers’ 100th day as Zimbabwe senior rugby coach. The 60-year-old former Springboks coach, who was officially unveiled as the Sables coach on February 7, described the appointment as the “greatest day of his life” — because the people of Zimbabwe believed in him. One hundred days on, deflation, lack of…
ZIMBABWE’S parliament has rejected a proposal to pay allowances to President Emmerson Mnangagwa and his two vice presidents Constantino Chiwenga and Kembo Mohadi’s spouses on the basis that it was illegal and unsustainable. The development comes as Mary Chiwenga — Vice President Chiwenga’s wife — has reportedly won a multi-million dollar contract to manage government’s…
OLD Mutual plc plans to delist its shares from the Zimbabwe Stock Exchange (ZSE) on Friday June 29 as part of the group’s managed separation aimed at enhancing shareholder value by separating its businesses. The delisting is subject to shareholders’ approval. The plan to finalise the managed separation will be done in three phases and…
INDUSTRIALISTS and retailers are sourcing at least 60 percent of their foreign currency requirements from the black market, the Confederation of Zimbabwe Retailers (CZR) has revealed. In the face of the persistent foreign currency shortage, CZR said government should consider adopting a local currency which is supported by “the right fundamentals” so that it does…
THE Zimbabwe Stock Exchange’s recovery continued this week with the market capitalisation breaching $10 billion for the first time this year. The market capitalisation previously reached $10 billion for the first time since the 2009 dollarisation in September last year spurred by a bullrun that pushed the market to a peak value of $15 billion…
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