RAINBOW Tourism Group (RTG) yesterday announced that it had paid the first interest payment for the debentures that were issued in February. A debenture is a medium to long-term debt instrument used by large companies to borrow money, at a fixed rate of interest. RTG had increased the par value of its debentures in a bid…
ONE win, one draw and three defeats is hardly the return Zimbabwe expected after the high profile appointment of former Springboks coach Peter de Villiers and the coming on-board of several sponsors to bankroll the team’s World Cup qualification campaign. The Sables’ first season under de Villiers can best be described as topsy-turvy as the…
ECONET Wireless Zimbabwe has intensified its exploration of the media frontier after tweaking its pricing model of video streaming service Kwesé iflix to make it more accessible. The company, which has established itself in the telecommunications and technology business, launched the service about four months ago as a part of its relatively new media business…
MOBILE Network Operator Telecel Zimbabwe, has announced the launch of another data offering – Weekly Data Bundles for their Telecel Go prepaid customers. Telecel’s Weekly Data Bundles offer their subscribers a week of all mobile internet access at very affordable rates. The bundles come in 4 denominations which are $1, $2, $3 and $5 with…
THE Pharmaceutical Society of Zimbabwe (PSZ) says the country is facing marked drug and equipment shortages on the back of foreign currency shortfalls. This is despite government’s assertion that the industry continues to be availed the foreign currency that it needs. The deterioration of local industry over the past decade has created a persistent trade…
THE Confederation of Zimbabwe Retailers (CZR) has welcomed the recently gazetted Shop Licences Amendment Act saying it will bring convenience, accountability and transparency to the sector. The Act, which was gazetted a fortnight ago, introduced various legislative reforms aimed at facilitating the ease of doing business. “The short term licences had been a great inconvenience…
LISTED agro-concern Zimplow’s share price was the biggest mover last week, registering a growth of 43, 8 percent to 0,75 cents from 0,12 cents after the company announced that it expected to record increased profit on the back of the current investor-friendly environment. The company is also seeking shareholder approval to buy back 20 percent…
NEW energy firm Bulls Power Fuel has said demand for Liquefied Petroleum Gas (LPG) in Zimbabwe is expected to increase in the next five years due to increased awareness, unreliable electricity supply and affordability. Micheal Munhuwei, the group’s chief executive, made the remarks after the official launch of the Bulls Gas division last Friday, which…
ZB FINANCIAL Holdings’ (ZB) profits have lately come from untraditional channels as earnings from custom sources have been falling, the company’s latest financial statements show. This comes as an unstable monetary environment characterised by currency risk and inflation has put the local financial system out of whack. The financial group’s net incomes from lending activities…
THE Securities Exchange Commission of Zimbabwe (SECZIM) has said it does not recognise crypto-assets as securities. Regulators the world over have been struggling to define and implement definitive rules for the rapidly emerging asset class, which is characterised by digital tokens that exist in decentralised networks, which are based on cryptographic principles. In May, the…
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