EQUITY holdings of Zimbabwe’s pension funds and insurers grew by 126 percent to $77 billion during the first quarter of 2021, latest regulator reports show. In comparison, the ZSE’s market capitalisation grew by 71 percent to close the period at $543 billion. The industry’s share of this was 15 percent, up from 10 percent at…
Mildred Chiri, the Auditor General (AG), or should it be the OG, has released her report for the 2019 financial year, yet again giving the public a glimpse into the…
PRESIDENT Cyril Ramaphosa yesterday gave a strong hint that the government could move the current lockdown restrictions to a higher level as new Covid-19 cases continue rising, dampening rebounding business confidence at a time when it was still trying to recover to pre-pandemic levels. Ramaphosa said the government was considering reviewing the current lockdown restrictions…
MONETARY authorities and banks have reached an understanding that allows the central bank to waive a requirement demanding them to pay interest on call and demand deposits. However, the banks are still required to pay interest on savings accounts and fixed term deposits. Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, said the apex bank…
SUPPLIERS of Edgars can now sell their invoices with the retailer on the Zimbabwe Receivables Marketplace (ZRM) after its listing on the platform last week. ZRM, which was launched last August and is a joint venture between the Zimbabwe Stock Exchange (ZSE) and Harare Receivables Exchange, allows businesses to sell individual unpaid invoices in order…
SEEDCO Zimbabwe (SeedCo) says it is now focused on finding alternative ways of raising capital following the collapse of its proposed merger with SeedCo International (SCIL), which would have seen its shares listed on the US$-denominated Victoria Falls Stock Exchange (VFEX). The deal, that would have seen VFEX-listed SCIL acquiring the entire share capital of…
LOCAL pharmaceutical companies say there is no quick fix to the sector, currently riddled with operational inefficiencies, low productivity and shrinking market space. This comes as the government launched a four-year Pharmaceutical Manufacturing Strategy for Zimbabwe (PMSZ 2021-2025) in Harare last week, in a bid to strengthen local production of essential medicines. As part of…
DAIRIBORD Holdings (Dairibord) says it is pursuing a low-cost model to mitigate operating challenges, which have persisted despite improvements in the environment over the second half of 2020. In its 2020 annual, the food and dairy products processor said price stability during the year positively impacted on the industry’s ability to secure inputs. “Other positive…
Recent reports indicate that Google will soon open its first retail store in New York City, following in the footsteps of competitors like Apple, Samsung and Amazon. The store will sell things like Pixel phones and Fitbits. According to Richard Kestenbaum (co-founder of Triangle Capital), making a move into brick and mortar is smart given…
COMMODITY and miner, Kuvimba Mining House has declared a US$5,2 million maiden dividend to its local shareholders following a solid performance during the financial year ended 31 March 2021.
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