GENERAL Beltings says the Covid-19 pandemic affected demand for its products in key markets while parallel exchange rate instability fuelled a rise in operating costs. In a statement accompanying the company’s results for the year ended December 31, 2021 GB Holdings chairman Godfrey Nhemachena said in response to the challenges, the group consolidated its position…
A CONSORTIUM of local pension funds’ plans to acquire Namibia’s Grove Mall in a record US$113 million deal – led by Bard Santner Investors (BSI) – has been welcomed by…
TURNALL Holdings says it is investing in a new state-of-the-art Glass Reinforced Plastic plant (GRP), which will enable the production of new tech pipes in high demand in local and regional markets. This comes as Turnall reported a dip in volume in the pipes division as cement pipes continue losing market share due to a…
A long-serving employee who was fired after repeatedly testing positive for cannabis, in breach of the company’s rules, has failed in her bid to be reinstated. Bernadette Enever, who had been employed in an office position at Barloworld Equipment since 2007, said she used cannabis oil for medicinal reasons and smoked it recreationally for “spiritual”…
ZIMRE Holdings Limited (Zimre) says it will continue to pursue its new thrust to be a financial services group with core competencies in insurance, property and wealth management despite the difficult operating environment in the country. In a statement accompanying its financials for the year ended December 31, 2021 group chairman Ben Kumalo said the…
BORDER Timbers Limited’s revenue dropped by 13 percent to $1,48 billion for the year ended June 30, 2021, from $1,69 billion in the prior year due to Covid-19-related disruptions. The forest estates and saw-milling company’s finance director, Lysius Karimanzira, said during the year ended under review, the company suffered an inflation-adjusted loss after tax of…
WHILE the government has made significant progress with regards the ease of doing business in Zimbabwe, economic experts say policy risk remains a major hindrance for foreign direct investment (FDI). This comes as the United Nations, in its recently published investment report, has said FDI into the southern African nation amounted to US$166 million in…
Serena Williams says a big motivating factor behind her Wimbledon return was not wanting last year’s tearful injury retirement to be her final SW19 memory. Seven-time champion Williams is set to make her singles comeback at the Grand Slam event, which starts on Monday. The 40-year-old American tore her hamstring when she slipped during her…
LABOUR broking is not exactly what you would call a mainstream business in Zimbabwe. It is shrouded in mystery and there is uncertainty as to whether it is legal or not. Back in 2013, a local newspaper reported labour broking as being illegal. That same newspaper touted the benefits of labour broking three years later…
THE Securities and Exchange Commission of Zimbabwe (SecZim) says a number of derivatives are in the pipeline for the local capital market, following the introduction of the country’s fourth exchange traded fund (ETF) last week. A derivative is a financial instrument that derives its value from another asset. These instruments have headlined global financial innovation…
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