AIM-listed Caledonia Mining Corporation has announced the transfer of a total of 76 530 common shares to outgoing chief executive Steve Curtis and chief financial officer Mark Learmonth. This follows the maturing of long-term incentive plan awards this month which were made under the 2015 omnibus equity incentive compensation plan of the company. In a…
NATIONAL Tyre Services (NTS) says it is optimistic that road infrastructure development, continued investment in the productive sector and economic stability will create opportunities for the tyre business. The company suffered an inflation adjusted loss of $62,2 million for the half year to September 30, 2021 from a profit of $53,5 million in the prior…
FOREIGN currency distortions on the market are driving up the cost of local production, piling pressure on companies’ margins, due to the growing gap between the official and parallel market rates. This comes as a shortage of foreign currency on the Reserve Bank of Zimbabwe’s (RBZ) auction system has pushed demand for the greenback on…
STAR Africa Corporation (StarAfrica) says its equipment maintenance and re-tooling programme which began in 2020 has started to pay-off, with sugar production levels going up. In a statement accompanying the group’s trading update for the quarter ended June 30, 2021, StarAfrica said the comprehensive capital investment strategy and equipment maintenance plan is credited for the…
POWERSPEED Electrical (Powerspeed) says the rising global cost of freight is piling pressure on the business and trimming profit margins. The rising freight costs, which hugely disrupted the electricals manufacturer and distributor’s supply chains owing to the global Covid-19 pandemic-induced lockdowns, forced Powerspeed to ramp up local manufacturing. In a financial statement for the year…
THE Tobacco Industry Marketing Board (TIMB) says it is working towards decarbonising tobacco production in line with Environment, Social and Governance investing (ESG). This comes as international pressure for carbon-neutral treatment of the ‘golden leaf’ has been rising. ESG is a set of standards that govern how companies and funds ensure that they are responsible…
A THIRD Exchange Traded Fund (ETF) is in the offing for Zimbabwe’s capital market following the introduction of a second one this week, the Securities and Exchange Commission (SecZim) has revealed. ETFs are managed funds that track the performance of a specified security, which include but are not limited to equity indices, commodities and currencies.…
PRINCIPALS of the budding Victoria Falls Stock Exchange (VFEX) say mining companies are expected to drive new listings on the US$-denominated market in 2022, taking advantage of the bourse’s incentives to meet their capital demands. This comes after VFEX’s parent company, the Zimbabwe Stock Exchange (ZSE), this week welcomed a new Exchange Traded Fund (ETF)…
THE directors of CBZ Holdings (CBZ) are seeking shareholder approval to conclude the acquisition of a 31,2 percent stake in First Mutual Holdings (FML) shares held by the National Social Security Authority (NSSA). In a Zimbabwe Stock Exchange filing last week, the financial services group said it had reached an agreement with the state pension…
UNIFREIGHT Africa (Unifreight) says it will invest in new vehicles during the current reporting season to improve service delivery and efficiency. This comes after the logistics company suffered a loss after tax of $185 398 for the half year to June 30, 2021 from a profit of $10 400 in the prior year. Its revenue,…
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