RIOZIM Limited says it will prioritise the completion and commissioning of its Biological Oxidation (BIOX) plant project before the close of the financial year to December 31 to increase gold production. This comes after the group suffered a further inflation adjusted loss of US$1,4 billion for the half year to June 30, 2021 from $77,4…
THE Old Mutual (OM) Exchange Traded Fund (ETF) has gained 50 percent since the beginning of August, reclaiming a lead over its benchmark, the Zimbabwe Stock Exchange (ZSE) Top 10 Index, which is now 15 percentage points behind with year-to-date gains of 135 percent. The ETF had been overtaken by the Top 10 in July…
ZIMPLOW Holdings (Zimplow) says its profit declined by 21 percent to $228 million during the half-year to June 30, 2021, due to “currency distortions” in Zimbabwe. This was despite a 67 percent growth in revenue to $1,66 billion, which the company said was driven by volume growth across all its units. “While our profitability has…
GOLD miner Caledonia expects to sink US$1,6 million over the next 24 months at the newly-acquired Maligreen project in Gweru, while it explores other mining opportunities in the area as it seeks to expand its resource base. The company only has the Gwanda-based Blanket Mine in its portfolio, but it has been actively pursuing expansion…
THE proportion of households with access to the Internet in Zimbabwe has increased from 33,2 percent in 2014 to 50,1 percent in 2020, the Zimbabwe National Statistics Agency (Zimstat) has reported. According to the 2020 ICT access by households and use by individuals survey conducted by Zimstat only Bulawayo, Harare, Matabeleland South and Mashonaland West…
PADENGA Holdings (Padenga) has gained close to 60 percent on the Victoria Falls Stock Exchange (VFEX) since late-July, recovering from the early losses it suffered at its migration to the budding market. The crocodile skins exporter’s shares, which were initially listed on the VFEX at US$0,36, shed close to 50 percent during the first week…
ZIMBABWE wants mining companies to step up investments in agriculture covering both livestock and crop production. Some of the miners have already ventured into livestock production and the authorities are looking to expand the investments into other areas in the sector. “With the financial strength of mining we can invest more in agriculture assured that…
GOVERNMENT says the pilot phase of the National Fuel Management System has been completed, with the system proving to be robust and ready for full implementation. The system, which is set to be rolled out soon across the fuel distribution value chain, including at retail outlets, will ensure judicious management of fuel resources in the…
ZIMBABWE’S inflation edged to 51,55 percent in September from 50,24 percent in August, reflecting price increases across the economy in a month the country grappled with shortages of power and foreign currency. On a month-on-month basis, the inflation rate at 4,73 percent was up 0.51 percentage points, marking the highest monthly rise in a year.…
IN Zimbabwe, Special Economic Zones (SEZs), sometimes known as free zones, are defined as geographical areas within an economy where business activity is governed by different laws from the rest of the economy. It is an area with more free-market-oriented economic rules than a country’s usual or national law. These regulations govern investment, trade, customs…
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