ZIMBABWEAN farmers are set to ramp up exports into Dubai and the entire United Arab Emirates (UAE) following strengthened support from the Dubai International Chamber (DIC). DIC was established to strengthen partnerships with global corporations, investors and entrepreneurs and boost Dubai’s status as a major trading hub, as well as represent and support the interests…
THE Reserve Bank of Zimbabwe (RBZ) says it will keep track of progress on the resolution of corporate governance and risk management weaknesses identified at the Zimbabwe Women’s Microfinance Bank Limited (ZWMB). ZWMB, which was licensed in 2018, is mandated to provide financial inclusion and economic empowerment to women. “The public is advised that the…
THE central bank is expecting increased economic activity on the back of a slowdown in inflation, local currency stability, along with a slew of monetary and fiscal policies being implemented to provide a stable environment for the banking sector. In a quarterly report ending September 30, 2022, Reserve Bank of Zimbabwe (RBZ) said significant gains…
LISTED sugar refiner Starafrica Corporation (Starafrica) recorded a 40 percent increase in turnover to $20,90 billion from $14,92 billion, due to strong demand for all the group’s products. In a statement accompanying the group’s financial results for the six months ended September 30, 2022, chairman Rungamo Mbire applauded the government for making efforts to improve…
CEMENT maker Lafarge accounted for the bulk of stocks sold on the Zimbabwe Stock Exchange (ZSE), leading net sellers with shares worth $19,1 billion in 2022. According to the local bourse, foreign purchases accounted for $9,6 billion worth of shares during the year under review, while sales amounted to $41,4 million. Foreign trades accounted for…
BINDURA Nickel Corporation (BNC) says it will focus on recovering the nickel concentrate production deficit and managing costs for the remainder of its fiscal year ending March 31, 2023. This comes as the nickel miner recorded a 25 percent decrease in nickel concentrate production to 1,918 tonnes, for the first half of the 2023 fiscal…
NATIONAL Tyre Services Limited (NTS) will leverage its business on a new import regulation, which suspends duty on commercial tyres, the company has said. This comes after the tyre dealer’s sales for the half-year to September 30, 2022 grew by 12 percent to $1,8 billion in inflation adjusted terms from $1,6 billion, due to the…
RETAILER, OK Zimbabwe (OK), says it plans to expand the Food Lovers Market brand in Zimbabwe following its acquisition of three outlets. OK recently concluded a deal to run the Food Lovers Market business in Borrowdale, Avondale and Bulawayo. “The negotiations included the acquisition of a Territorial License Agreement that will see the company refreshing…
ZIMBABWE’S mining sector recorded strong growth during the third quarter ending September 30, on the back of increased output and firming prices. According to current central bank data, gold output rose by 8,5 percent to 10 222,9 tonnes in the period under review. “This was largely driven by increased throughput from all players. Gold largely…
WILLDALE Limited (Willdale) says a sustainable financing model for housing development will result in increased volumes and profitability for the company. The company recorded an inflation adjusted profit after tax of $4,3 billion for the year to September 30, 2022, from $676 million due to increased volumes and demand for bricks to meet the high…
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