SEVERAL listed companies have postponed the publication of their full-year results for FY 2023, primarily attributing the delay to technical issues related to audits. However, affected firms have been granted permission to publish their financials by the end of this month. The earnings season typically commences in February and extends until March. However, many of…
EXPERTS say the Reserve Bank of Zimbabwe (RBZ)’s adoption of a market-determined ex – change rate could ensure price stability if consistently implemented. New RBZ governor, John Mushayavanhu, announced the shift through his monetary policy statement last week and on Tuesday, during a post-monetary policy statement review meeting that was hosted by 3Ktv. He assured…
THE Reserve Bank of Zimbabwe’s (RBZ) recent interest rate cut could stimulate economic activity by increasing loan demand, financial and banking industry players say. This development follows the recalibration of the bank policy rate from 130 percent per annum to 20 percent per annum, aligning with the new monetary policy framework. RBZ Governor, John Mushayavanhu,…
BRICKMAKER Willdale expects to pocket US$16,6 million before costs from the sale of unutilized pieces of land with proceeds to be channelled towards increasing capacity and subsequently profitability. This follows approval from shareholders at an ex traordinary general meeting held this week to allow for the proposed resolutions to unlock value from unused pieces of…
PPC has reported that its capital expenditure for the current fiscal year is trailing behind forecasts due to a delay in the completion of the fly ash project at its Zimbabwean unit. The company’s capex guidance for the full year ending March 31, 2024 (FY 2024) stands at R600 million. The implementation of the fly…
TSL is pioneering a new tobacco curing system aimed at addressing deforestation challenges. The rise of tobacco as a cash crop in Zimbabwe has had detrimental effects, with the devastation of the country’s forests being a chief concern. Despite prohibitions, enforcement remains lax, and constructing woodlots has proven neither swift nor practical in solving the…
PLAYERS in the horticulture sector are poised to export 6 000 tonnes of avocados this year, buoyed by improved production. As Zimbabwe’s horticulture industry undergoes revitalisation, government policies aimed at rejuvenating the sector are expected to drive growth. Zimbabwe ranks as the fifth-largest exporter of avocados in Africa. The Horticultural Development Council (HDC) recently provided…
THE Consumer Council of Zimbabwe (CCZ) has assured the country of the availability of mealie-meal, even in the face of an El Niño-induced drought and escalating input costs that have disrupted supply chains. Also assuring the public, the government asserts that there are enough grain reserves to sustain the nation until the next harvest. “Mealie-meal…
CFI Holdings (CFI) has outlined plans to make broader cost cutting initiatives across its business operations as well as diversifying its agro-focused retail unit to minimize exposure to a major slump in the agriculture sector. The diversified agro-based conglomerate with retail, farming and milling operations anticipates a difficult year after a poor agricultural season owing…
PADENGA Holdings says its crocodile business has returned to optimal skin volume production at improved quality placing it in a strong position to maximise skin sales realisations. The rebound follows a 17 percent decline in skin volumes for the crocodile unit in 2022. During the year ended 31 December 2023, the Nile crocodile operations recorded…
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