ECOBANK Transnational Incorporated (ETI), the parent of the Ecobank Group, is targeting to exploit the immense single market opportunities created by the African Continental Free Trade Area (AfCFTA). The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union and eight regional economic communities. Established in 2018 and…
PADENGA Holdings (Padenga) says it anticipates gold production volumes to remain stable in the second quarter and increase thereafter on the back of the commencement of higher-grade ore feed from the Pickstone underground operation. This comes as gold sales volumes for the quarter increased by 19 percent to 541 kilogrammes from 453 kilogrammes in 2022,…
UNIFREIGHT Africa (Unifreight) says the suspension of import duty on basic commodities by the government could negatively impact its financial performance. Authorities suspended import duty on basic goods for six months to address the ongoing price hikes. The transport and logistics firm said exchange rate instability negatively affects the ability of the formal retailer and…
GENERAL Beltings Holdings (GB Holdings) posted a 40 percent decrease in total volumes to 206 metric tonnes for the quarter to March 31, 2023 from 342 metric tonnes recorded in the prior quarter, as the debilitating power outages significantly affected production. Zimbabwe is facing acute power outages, which are stretching to as long as 12…
FARMERS from the Democratic Republic of Congo (DRC) say they want to establish partnerships with inputs and agriculture implements manufacturers in Zimbabwe. The farmers, under the banner of the Pamlu Farmers Union, were in Zimbabwe last week to follow up on contacts made during a ZimTrade outward seller mission to Lubumbashi a few weeks ago.…
IN the past, the computation and declaration of PAYE was not an issue because the bond notes and the United States (US) dollars were treated on a 1:1 basis and it also the currency of tax payment to the Zimbabwe Revenue Authority (Zimra) did not matter. In the advent of the promulgation of regulations governing…
ZIMBABWE’S broad money increased by 9,12 percent to $3,19 trillion in March 2023, compared to $2,92 trillion recorded in February 2023, the Reserve Bank of Zimbabwe (RBZ) has said. According to the RBZ’s monthly economic review for March, the increase reflects an expansion of $114,56 billion and $152,19 billion in foreign currency deposits and local…
UK-based mining company, Contango, has commenced production of washed coking coal at its flagship Lubu project in Hwange. The London-listed natural resource company said this follows recent dry and wet runs of the wash plant, as well as integration of the screen with broader processing facilities. Chief executive Carl Esprey said the production is a…
INNSCOR Africa (Innscor) says its volume growth on a cumulative nine-month basis remained ahead of the comparative period despite the challenging operating environment. In a trading update for the third quarter that ended March 31, 2023, the diversified group said it operated under turbulent economic conditions as the market experienced significant inflationary pressure, currency instability…
ZB Financial Holdings (ZB) has unveiled the Belmont Plus Platinum service centre in Bulawayo to cater for elite clients in the city and surrounding towns. Earlier this year, ZB launched the Premium Service Centre concept targeting high-value customers as the group moves to conclude its transformation journey. The transformation, which commenced last year, seeks to…
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