BRITISH American Tobacco Zimbabwe (BAT) says it remains optimistic about growth despite mounting economic and political concerns. The country has a history of contested and violent elections, as well as poll “high jinks” by elected officials, which have affected economic stability and growth. The country’s harmonised elections are set to be held in August this…
ZB FINANCIAL Holdings (ZB) says it recorded a 29 percent increase in foreign currency earnings during the quarter ended March 31, 2023, up from a 15 percent increase in the corresponding period last year. In a statement this week, the group said it also saw growth in local currency earnings across the business. ZB provides…
AFDIS says it is targeting to increase production efficiencies and implement cost containment initiatives this year to improve profitability. This comes as the spirits and wines maker anticipates that the trading environment will remain challenging and uncertain this year. In a statement to accompany financial results for the full year ended March 31, 2023, Afdis…
PADENGA Holdings (Padenga) says it anticipates improved returns from its crocodile business this year, following the implementation of several strategies to improve the division. The Victoria Falls Stock Exchange-listed diversified group’s crocodile unit accumulated losses over several years owing to continued oversupply in the alligator skins market coupled with quality issues that took a long…
CBZ Holdings (CBZ) has posted a 24,7 percent increase in its inflation-adjusted profit to $33,04 billion for the year ended December 31, 2022, compared to $26,49 billion recorded in the comparable period of 2021. The increase was buoyed by non-interest income, which surged 125,47 percent to $179,02 billion and interest income, which went up by…
NMB Holdings says it is looking at opportunities within its branches to install solar to operate completely off-grid. This comes as most Zimbabwean companies are investing in solar energy in light of the ongoing power cuts, which are seriously affecting operations. Most firms have had to rely on diesel-powered generators, which in turn increases their…
THE law affects every aspect of life. In this week’s article, I will look at the legal structure of the entertainment industry and how artists and entertainers need to put their affairs in order from a legal perspective. Entertainment is often seen as a very informal space. As true as they may sometimes seem, without…
GIVEN the extent of the challenges being experienced in the country, more needs to be done to revitalise Zimbabwe’s foreign exchange system, business says. At the same time, eyebrows were raised last week after Treasury made definitive pronouncements on the exchange rate and the country’s foreign currency auction system, instead of monetary authorities. This comes…
Minister of Finance, Mthuli Ncube, has invited the financial sector to discuss incentives for private equity funds, which he believes can deepen the country’s capital markets and push industrialisation. This comes as Ncube is also pleading with international development finance institutions to extend more lines of credit to local banks, as he seeks to open…
AN EXPECTED interest rate adjustment on short-term tenors in Zimbabwe is unlikely to have the desired effect of curbing speculative borrowing because of the country’s high inflation, an analyst has said. As part of a slew of measures meant to stabilise the Zimbabwe dollar, minister of Finance, Mthuli Ncube, last week announced that interest rates…
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