THE recent civil service salary hikes are set to boost the performance of the consumer sector as disposable incomes increase, a local research firm has said. Last month government, in a move described by some as populist, awarded security forces a 22,5 percent pay rise before handing a 17,5 percent special allowance to all public…
PRETORIA Portland Cement Limited (PPC) is seeking shareholder approval to extend financial assistance to its subsidiaries, a move which the directors believe will benefit the group. Shareholders of the cement and related products supplier will vote on a special resolution to authorise financial assistance to related parties, among other resolutions at the company’s 126th annual…
DIVERSIFIED conglomerate, Starafricacorporation (Starafrica), is on track to return to former glory as the company’s production, profitability and financial figures show signs of life after the recent equipment upgrade and considerable progress made in restructuring the group’s debt-ridden balance sheet. As at March 31, 2018, the group’s latest reporting date, Starafrica has yet to return…
The Real Estate Institute of Zimbabwe (REIZ) says the new administration should urgently restore property rights to attract foreign investors. This comes as one of the major factors hampering FDI has been violation of property rights. Mike Juru (pictured), the REIZ president, told The Financial Gazette that resuscitation of the property market can be achieved…
RADAR Holdings Limited, which voluntarily delisted from the local bourse over two years ago, intends to set up a trading desk to facilitate over-the-counter transacting of its shares. The company will hold an extraordinary general meeting on August 28 to approve the trading platform, as well as the substitution of the company’s articles of association…
YESTERDAY’s protests in Harare, following Monday’s hotly-contested national elections, dampened business’ hopes that Zimbabwe would finally overcome its economic challenges of the past 20 years. The ugly scenes in the capital came after both economists and business representatives had expressed confidence that the relatively peaceful atmosphere that was experienced before and during voting day would…
SINCE the wave of price increases that hit Zimbabwe late last year, ordinary Zimbabweans have been baffled by the mismatch between the official inflation rate and the level of price increases. To many — whose disposable incomes have significantly lost buying power in recent months, the official inflation rate is far from reflecting the gaping…
DIVERSIFIED investment holding company Brainworks has disposed part of its stake in GetBucks Microfinance to reduce its short term debt. The disposal, which decreased Brainworks’ stake in Getbucks by about two percent to just under 30 percent, has generated $565 340,53 for the company. The company announced in a statement that it had sold 18…
FALCON Gold Zimbabwe Limited (Falgold) has been in a precarious position for almost a decade now as it has persistently held a negative net asset position — a precursor to insolvency — since the introduction of the multi-currency system in 2009. The company has had numerous problems over the period, including liquidity challenges, strikes, and…
I AM writing before the historical 2018 general elections in Zimbabwe. I am therefore unaware of the results as yet. For now I will stick to the story of US Secretary of State, Ms Hillary Clinton. Everybody who is in the book of life, the Federal Bureau of Investigations, the Central Intelligence Organisation and media…
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