ZB FINANCIAL Holdings says it will tie up its transformation exercise this year by completing the strategic corporate restructuring plan, which was earlier scheduled to be finalised in the third quarter of 2022. The diversified financial services institution embarked on a major restructuring last year to transform the financial services concern into a lean and…
THE Zimbabwe Revenue Authority (Zimra) has trebled its Beitbridge Border Post (BBP) collections — to about US$800 million-plus a year — owing to revamped facilities, officials say. This comes as the Zimbabwe Borders Consortium (ZimBorders) and its contractor Raubex Construction have completed the third phase of the US$296 million project of southern Africa’s busiest port,…
EXPERTS have urged authorities to expedite their de-dollarisation push and efforts to build confidence in the local currency, to curb rising inflation and prices — and also boost the country’s economy. Speaking to The Financial Gazette this week, business leaders and analysts described the country’s short to medium term economic outlook as “worrying”, noting further…
ASSET management firm Bard Santner Investors, says it aims to resuscitate Zimbabwe’s dying savings culture with its Gold Coin Unit Trust, which was launched this week. Zimbabwe’s savings culture has deteriorated over the years due to high inflation and an uncertain currency regime. The asset management firm’s Gold Coin Unit Trust comes six months after…
CALEDONIA Mining Corporation (Caledonia) says its production guidance for 2023 assumes that Blanket Mine will maintain the output rate achieved last year. This comes after the mining company exceeded its long-term target of an annual production rate of 80 000 ounces by recording 80 775 ounces in 2022, which is slightly above the top end…
THE Zimbabwe National Chamber of Commerce (ZNCC) says too many statutory instruments (SIs) are stifling business operations. This comes as a 2022 State of Industry and Commerce Survey noted that captains of industry wanted stakeholder consultations and impact studies before statutory instruments were introduced to enhance buy-in. “The real concern from members… was that having…
As the year begins many of us will be focused on the best strategies for getting a better job, making more lucrative business deals and generally accumulating more wealth. However, as much as we may want to plan for a better life, we must also plan for the possibility that we might face an unexpected…
AXIA Corporation (Axia) says its proposed plan to list on the Victoria Fall Stock Exchange (VFEX) will enhance its access to US dollar capital to assist its capital expenditure, working capital requirements and regional expansion initiatives. In a recent circular to shareholders, the retail and distribution group revealed its plans to delist from the Zimbabwe…
PLAYERS in the retail sector say operations continue to be adversely affected by restrictive pricing laws, which are affecting their competitiveness against the unregulated, growing informal market. Businesses have lately seen a rise in foreign currency transactions, as reported by a number of listed companies in recent trading updates. Since January 2021, however, 20 percent…
SHARES in National Foods Holdings (NatFoods) have gained 0,2 percent on the Victoria Falls Stock Exchange (VFEX) since it began trading on the US dollar-denominated market on December 23, 2022. This is a steady start compared to other issuers that have recently migrated from the Zimbabwe Stock Exchange (ZSE). Simbisa Brands, which joined the exchange…
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