FINANCE secretary George Guvamatanga says “sanctioned Zimbabwe” must find new ways of funding infrastructure projects and cushioning the poor through creative taxes, as domestic capital mobilisation remains key for the economy. This comes as the southern African nation is facing a severe drought and there has been a hue and cry over the raft of…
BINDURA Nickel Corporation (BNC) says it has strategically implemented timed measures to ensure that the group ends the 2024 fiscal year in a strong position. The Victoria Falls Stock Exchange-listed miner’s chairman, Muchadeyi Masunda, said despite the challenging nickel price outlook, it anticipates an improvement in the financial year 2025. “The average London Metal Exchange…
INNSCOR Africa (Innscor) says despite a challenging operating environment in Zimbabwe, it sees several growth opportunities. This comes as the country is expected to receive normal to below-normal rainfall this season, which analysts fear will pose a serious threat to economic growth going into next year. “We are very bullish about the country, about the…
THE Chamber of Mines of Zimbabwe (CoMZ) says the government’s March deadline for the submission of lithium beneficiation plans by miners is too soon and should be reviewed. CoMZ chief executive, Isaac Kwesu, said some miners would not meet the deadline because of the complexity of their setups. “The industry subscribes to beneficiation, but we…
SEED Co International says it is well prepared to respond to the needs of farmers in light of the mixed rainfall forecasts. Latest forecasts indicate normal-to-above normal rainfall in most parts of East Africa, and below-normal rains in Southern Africa from November 2023 to January 2024. “A mixed selling season is being anticipated benefiting from…
CBZ Holdings (CBZ) was one of the major gainers on the Zimbabwe Stock Exchange this Wednesday after an announcement of changes to the board and management of the financial services giant. The group’s stock was up by 5,3 percent, its biggest jump this week, as CBZ appointed Luxon Zembe as acting board chairman and Lawrence…
ZIMRE Holdings (Zimre) says the recent amalgamation of its units in Botswana will allow it to explore more product offerings. This comes after regulatory changes enabling it to underwrite domestic business saw the group combining its two Botswana reinsurance businesses, Emeritus International Reinsurance Company and Emeritus Reinsurance Company. The operational company in Botswana will be…
ZIMBABWE is using proceeds from platinum exports to settle a US$400 million loan from the African Export-Import Bank (Afreximbank) amid persistent struggles to access international lines of credit, Finance minister Mthuli Ncube has said. In a public debt report tabled before Parliament recently, Ncube stated that the Afreximbank facility comprised the bulk of external loan…
CALEDONIA Mining Corporation (Caledonia) says its Gwanda operation at Blanket Mine will continue to anchor its countrywide operations, as prospects for its lifespan increase. In a statement accompanying the company’s operating and financial results for the quarter and the nine months ended September 30, 2023, Caledonia’s chief executive, Mark Learmonth alluded to what he described…
CIVIL service pensioners will start getting payments in 2024 as compensation for losses they incurred in 2009 when the government abandoned the Zimdollar due to hyperinflation, Finance minister Mthuli Ncube…
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