BORDER Timbers says it has secured a US$2,9 million funding facility from local financiers, which it may opt to use to recapitalise its operations. Since leaving judicial management in March 2022, the company’s board has made a decision to implement a recapitalisation strategy to improve operations. “The company has invested in new sawmills at both…
PLATINUM miner Zimplats’ total operating costs increased by 13 percent for the quarter ended December 31, 2022, due to high production volumes, inflationary pressures, and a 42 percent increase in the power tariff. In a trading update for the period, Zimplats said a total of US$4,5 million was transferred from operating costs as milled throughput…
MINERS have commended the government’s new directive for them to pay 50 percent of their royalties in kind, saying the move will not disrupt operations. This comes as the government recently announced a new mining royalties system directive to companies mining gold, diamonds, lithium, platinum group metals (PGMs) and any other precious stone or valuable…
ZIMBABWE is set to build a US$20 million lithium battery manufacturing factory as the country seeks to ramp up value addition efforts, Finance minister Mthuli Ncube says.
FINANCIAL services group, ZB Financial Holdings (ZB), is targeting high-value customers through its latest innovative product —Premium Service Centre — as the group moves to conclude its transformation journey this year. Premium service targets high net worth customers and people who make an impact at a national and global economic scale through the “My ZB”…
FBC Securities says the Victoria Falls Stock Exchange (VFEX) is set for increased activity in 2023 buoyed by a growing number of listings. The US dollar-denominated market launched in 2020 as part of efforts to attract global capital, restore foreign investor confidence in Zimbabwe’s capital markets and assist companies raise foreign currency capital, saw an…
CLOTHING retailer, Truworths says it will focus on productive cost rationalisation and working capital management as its volumes are currently under threat owing to the suspension of the local currency and limited US dollar credit. The company suspended its ZW$ credit sales on 1 July 2022 due to high interest rates which were hiked by…
THE Zimbabwe Stock Exchange (ZSE) is unlikely to see the same level of interest for listings this year that it did in 2022 due to its recent slump in trading activity, analysts say. The market last year added four Exchange Traded Funds (ETFs), as well as a Real Estate Investment Trust (REIT). Before the government…
AFRICAN Distillers (Afdis) says its spirits category grew by 19 percent benefitting from a focus on the affordable market segment, as the business seeks to regain share from cheaper and illicit products. In a trading update for the third quarter ended December 31, 2022, the wine and spirits maker reported overall volume growth of 10…
IN last week’s article, I discussed the importance of estate planning and the importance of engaging a legal practitioner to navigate all the issues connected with optimizing the administration of one’s assets. This week, I will expand the conversation by looking at questions that are frequently asked by clients as well as the duties of…
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