THE Cotton Company of Zimbabwe (Cottco) is expecting to break even in its financial performance for the year ended March 31, 2024 in US dollar terms buoyed by the improved cost management. In a trading update for the quarter ended January 31, 2024, the company said it settled US$19,6 million, and $7,2 billion of the…
PREMIER African Minerals (Premier) says it sees promising developments in the tantalum market and aims to strategically position itself to benefit from them. “Our primary objective remains producing high-grade spodumene for premium pricing,” Premier chief executive George Roach explains. “However, the tantalum reserves present a lucrative opportunity we cannot ignore.” The mining and natural resource…
THE Securities and Exchange Commission of Zimbabwe (SecZim) has implemented deterrent measures and moral suasion to stem the tide of Zimbabwe Stock Exchange (ZSE)-listed companies migrating en masse to the US dollar-denominated Victoria Falls Stock Exchange (VFEX). This development follows the recent announcement by Edgars Stores of its intention to move its listing to the…
THE Confederation of Zimbabwe Retailers (CZR) has stated that it does not foresee any price increases following the reintroduction of duty on select basic commodities, insisting that local manufacturers possess sufficient capacity. This comes amid public apprehension over potential price hikes, a common consequence of such measures. CZR President, Denford Mutashu, asserted in a statement…
COTTCO Holdings (Cottco) expects to break even by the end of its fiscal year in March 2024, despite facing challenges caused by the El Niño weather phenomenon and tight liquidity conditions, the company said in an update this week. Like other Zimbabwean companies, Cottco has been affected by the tight liquidity situation in the economy.…
STATE-owned telecoms operator NetOne is confident it will maintain its market position despite the impending arrival of Starlink, Elon Musk’s satellite internet service provider. The company believes its offerings cater to a distinct segment compared to Starlink’s focus on remote and underserved areas. Starlink, currently operational in 65 countries including several African nations, leverages low-orbit…
THE Zimbabwe Stock Exchange (ZSE) is likely to experience a mixed bag of results in 2024, with the El Niño-induced drought posing a significant challenge to agriculture-focused companies, according to Securities and Exchange Commission of Zimbabwe (SecZim) chief executive Anymore Taruvinga. Taruvinga acknowledged the potential impact of the drought on agro-value chain counters, which dominate…
NATIONAL Tyre Services (NTS) is targeting a full business recovery in the second half of the year following a series of cost-cutting initiatives. The firm saw a 106,25 percent rise in inflation adjusted operating expenses to $6,6 billion in the half year ended September 30, 2023 (H1 2024) from $3,2 billion in the comparative period.…
AUTHORITIES need to do more to protect local businesses and to make them more competitive, captains of industry and commerce say. Speaking to The Financial Gazette this week — after the government reimposed customs duty on 12 basic commodities — the business leaders cheered the move, adding that this would help to lift the country’s…
SEED CO says the delayed rains in the 2023/24 agricultural season, which led to an increase in demand for small grains, hold a significant potential to claw back annual sales volume performance. Zimbabwe experienced delayed rains in the 2023/24 agricultural season owing to the El Nino phenomenon which is also expected to result in low…
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