TANGANDA Tea Company (Tanganda) could list on the Zimbabwe Stock Exchange (ZSE) before year-end. Tanganda’s parent company, Meikles, is unbundling the tea business, with shareholders expected to vote on the transaction at an extraordinary general meeting on November 18. The group this week said it would list Tanganda on December 2, if the resolution passes.…
COTTCO Holdings (Cottco) says foreign currency price distortions currently obtaining on the market are driving up the cost of local cotton production, piling pressure on the company’s margins. In a trading update last week, Cottco Holdings chief executive Pius Manamike said the company was facing increasing pressure due to the growing premium between the official…
TURNOVER on the Victoria Falls Stock Exchange (VFEX) has increased 15-fold since the beginning of July, official data shows. At the end of trading Monday, the US$-denominated market had recorded trades worth US$524 281 since the start of the third quarter, compared to a turnover of just US$33 645 during the first half of 2021.…
THE World Bank has come up with a platform to provide farmers with real time weather data and agronomic advice under the Zimbabwe Reconstruction Fund (ZIMREF). World Bank senior agriculture specialist, Esther Chigumira, told a virtual symposium on the preparedness for the upcoming summer season, organised by agro-seed manufacturer SeedCo last week, that timely availability…
EDGARS Stores Limited (Edgars) is set to open two more retail outlets this month as the group is looking to increase its geographic footprint. The apparel retailer spent $25,5 million during the 26 weeks ended July 11, 2021 on opening new stores and on store revamps compared to $17,9 million spent in the comparable period.…
EQUITY investment is usually remunerated by way of dividend. Unlike interest, which is payable out of pre-tax money, dividend is payable from profits after tax provided it shall not be paid out of capital profits. In Zimbabwe, the taxation of the dividend follows the source concept, which underscores the geographical sphere of income. Dividend derives…
ZIMBABWE’S broad money supply declined by $2 billion to $329 billion in August, latest statistics from the Reserve Bank of Zimbabwe (RBZ) show. This comes as the central bank has been pushing a monetary targeting framework to keep a lid on money supply growth, which it has specifically blamed for Zimbabwe’s two episodes of hyperinflation…
COTTCO Holdings Limited says its 2021 intake stands at 114 656 metric tonnes (mt) against last year’s full output of 82 479 mt as the white gold’s buying season draws to a close. In a quarterly trading update for the 2nd quarter ended September 30 2021, Cottco said its national seed cotton production is estimated…
CASSAVA Smartech, now trading as Ecocash Holdings Zimbabwe, says its revenue declined by 36 percent to $14 billion during the year to February 28, 2021, weighed down by regulatory changes and the impact of the Covid-19 pandemic. In a bid to rein in financial crime, the Reserve Bank of Zimbabwe last year placed a number…
SIMBISA Brands (Simbisa) says it will continue to leverage on technology to improve efficiencies as well as drive growth. As part of the wider strategy, the regional fast-food restaurant operator has introduced InnBucks, an innovative customer rewards loyalty and rewards platform. The InnBucks service offers discounts of at least one percentage point off every purchase,…
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