TSL Limited says it will continue pursuing its agriculture growth strategy as it seeks foreign currency and appropriately priced financing to utilise existing opportunities. In its results for the year ended October 31, 2021, the Zimbabwe Stock Exchange-listed agro-industry and logistics group’s board chairman, Anthony Mandiwanza, described the environment as difficult but said TSL would…
ZIMBABWE’S largest financial services group, CBZ Holdings (CBZ), is set to launch the country’s third Exchange Traded Fund (ETF) this month, it has been learnt. It comes only a month after Morgan & Co, a local invest bank, launched the country’s second ETF and third derivative to trade on a mainstream exchange. It also comes…
ACTIVITY on the Victoria Falls Stock Exchange (VFEX) has continued to gain pace, with turnover increasing by 645 percent in January to US$191 708, compared to US$25 736 in December. It comes as the budding exchange is expected to add to its four listings this year, amid growing interest from mining companies that are…
THE Deposit Protection Corporation (DPC) says microfinance institutions are now taking compensation claims from small depositors who incurred losses due to a statutory exchange rate movement on February 20, 2019. On that date, the government denominated local balances and bond notes as RTGS$, establishing an exchange rate between US$ cash and all other monetary units,…
CORRUPTION watchdog Transparency International Zimbabwe (TiZ) says the government must improve disclosures on public spending to uphold citizens’ right to information. This comes as Zimbabwe has slid marginally on the 2021 Corruption Perceptions Index, scoring 23 out of 100, from a mark of 24 recorded in 2020. The 2021 score is below the sub-Saharan Africa…
THE Zimbabwe Revenue Authority (Zimra) says it will continue scaling up its technological systems this year to improve revenue inflows, increase compliance levels and reduce leakages. This comes as Finance minister Mthuli Ncube has challenged the tax authority to refine its Information Communication Technology (ICT) systems to work towards surpassing revenue collection set targets through…
ZIMBABWE’S largest mobile network operator Econet Wireless has been granted additional spectrum to expand its services. This comes as the listed firm recently indicated that it will soon roll out fifth generation (5G) services across the country. Industry analysts say emerging 5G networks feature lower latency, higher capacity, and increased bandwidth compared to 4G. These…
GETBUCKS Microfinance Bank (GetBucks) has entered into negotiations with a view to raise funds. The Zimbabwe Stock Exchange-listed micro-lender urged caution in the trading of its shares last week, saying the impending capital raise, “if successfully concluded, may have a material effect on the price of the company’s securities”. “Shareholders will pursue equity transactions to…
CAFCA prioritised the purchase of raw materials last year, as it could not source sufficient foreign currency to embark on a retooling exercise. In an annual report, Cafca’s managing director Robert Webster said the electrical accessories firm incurred significant downtime and cost from engineering spares. “Again, no investment was made this year on the new…
A recent article in The Economist cites that Microsoft will pay US$69 billion in cash for the acquisition of Activision Blizzard, a video-game developer in what represents a huge bet on the future of entertainment. It should be highlighted that this is the biggest acquisition ever made in the video-game industry. In addition, it is…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More