OLD Mutual Zimbabwe Limited (OMZIL) is seeking shareholder approval to convert an US$84,3 million debt owed to subsidiaries into preference shares as it aims to ease cash flow pressure and clean up its balance sheet. Under the proposal to be decided at an annual general meeting stated for May 27, OMZIL will issue the new…
CALEDONIA Mining Corporation’s revenue for the first quarter ended March 31, 2026, grew 18,3 percent year-on-year to US$66,43 million buoyed by stronger gold prices. This is despite lower production at Blanket Mine, which produced 14 767 ounces of gold during the quarter and sold 13 372 ounces, while consolidated gold sales, including output from the…
MUTAPA Investment Fund (MIF) is confident of servicing US$1,9 billion Treasury Bills (TBs) issued by the government for the acquisition of a 35 percent stake in Kuvimba Mining House in 2024, driven by rising mineral prices and asset value growth. The TBs are payable over 10 years with a grace period of three years, commensurate…
AFRICAN Distillers (Afdis) invested US$4,4 million in plant modernisation during the year ended March 31, 2026, to improve efficiency, expand capacity and support rising demand across its product portfolio. The country’s largest spirits maker said the capital expenditure was directed towards upgrading plant and equipment amid intensified market competition. “These investments strengthened the operating platform…
THE National Social Security Authority (Nssa) is assessing its capacity to implement a long-term pension adjustment after granting pensioners a 100 percent increase in their May allowance as an interim relief measure. The temporary boost comes as many pensioners continue to struggle on monthly payouts of about US$70 to US$80, which fall far short of…
KAVANGO Resources plc will issue 36,596,469 new ordinary shares on or around May 15, 2026, to Comarton Consultants and six pension funds under the Comarton Managed Pension Funds’ Investments Consortium as part of an ongoing investment agreement. The shares will be issued at £0,01 each, using a Bank of England exchange rate of £1 to…
FIDELITY Gold Refinery (Fidelity) says it is optimistic about reaching the targeted 50 tonnes of gold this year, up from 46,7 tonnes achieved in 2025. Fidelity general manager Peter Magaramombe told the Public Accounts Committee this week that the target will be buoyed by supportive government policies and expanding mining operations. “Last year…we achieved 46,7…
By Mbongeni Mguni, Bloomberg Botswana became the first African central bank to raise interest rates after the Iran war triggered a global energy shock, with inflation seen more than doubling this…
PREMIER African Minerals (Premier) has raised approximately £1 million through a new share subscription as it pushes ahead with commissioning works at its flagship Zulu Lithium and Tantalum Project in Zimbabwe. The AIM-listed miner issued 5 405 405 405 new ordinary shares at 0,0185 pence each in a subscription aimed at supporting commissioning activities, operating…
LOCAL technology firm, Avantis Technologies (Avantis) is targeting a listing on the Victoria Falls Stock Exchange (VFEX) in October as the company seeks to raise capital, strengthen corporate governance and expand its footprint across Africa. The Harare-based hardware and software manufacturer, founded in 2016 by entrepreneur Ari Goldstein, said the planned listing forms part of…
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