PLANS to expand Zimbabwe’s lithium operations could increase the country’s commodity risk exposure, the World Bank has said. In a report published last month, the World Bank said the southern African country is vulnerable to falling commodity prices. “While Zimbabwe currently enjoys a favourable external environment, its economy remains vulnerable to falling commodity prices. Zimbabwe…
TOMORROW will mark Peter de Villiers’ 100th day as Zimbabwe senior rugby coach. The 60-year-old former Springboks coach, who was officially unveiled as the Sables coach on February 7, described the appointment as the “greatest day of his life” — because the people of Zimbabwe believed in him. One hundred days on, deflation, lack of…
ZIMBABWE’S parliament has rejected a proposal to pay allowances to President Emmerson Mnangagwa and his two vice presidents Constantino Chiwenga and Kembo Mohadi’s spouses on the basis that it was illegal and unsustainable. The development comes as Mary Chiwenga — Vice President Chiwenga’s wife — has reportedly won a multi-million dollar contract to manage government’s…
OLD Mutual plc plans to delist its shares from the Zimbabwe Stock Exchange (ZSE) on Friday June 29 as part of the group’s managed separation aimed at enhancing shareholder value by separating its businesses. The delisting is subject to shareholders’ approval. The plan to finalise the managed separation will be done in three phases and…
INDUSTRIALISTS and retailers are sourcing at least 60 percent of their foreign currency requirements from the black market, the Confederation of Zimbabwe Retailers (CZR) has revealed. In the face of the persistent foreign currency shortage, CZR said government should consider adopting a local currency which is supported by “the right fundamentals” so that it does…
THE Zimbabwe Stock Exchange’s recovery continued this week with the market capitalisation breaching $10 billion for the first time this year. The market capitalisation previously reached $10 billion for the first time since the 2009 dollarisation in September last year spurred by a bullrun that pushed the market to a peak value of $15 billion…
TRANSACTIONS processed through the National Payment System (NPS) stood at $2,4 billion during the week ending April 27 up from $2 billion recorded the previous week. The 20 percent rise was due to an increase in Real Time Gross Settlement (RTGS) system transactions. According to the Reserve Bank of Zimbabwe’s latest Weekly Economic Highlights, transactions…
THERE is a real risk that the Zimbabwean economy could come undone if no changes are made to current policies, the World Bank says. In its April 2018 Macro Poverty Outlook report on Zimbabwe, the World Bank says the prevailing financial sector policies could lead to unfavourable economic conditions. It warned that the economy could…
DELTA Corporation’s sparkling beverages market share could decline during the current reporting season following the coming on stream of a Pepsi plant early this year, an analysis on the company’s outlook by Old Mutual Securities (OMSEC) has revealed. OMSEC said competition in the sparkling beverages segment is expected to grow following the opening of a…
PRIVATE equity and advisory firm Brainworks has disposed of its local life assurance business in a $6,8 million deal. “Brainworks Capital Management has entered into a share sale and purchase agreement with Nhaka Life Assurance Company in which the company will dispose of its 100 percent equity investment in GetSure Life Assurance, comprising 200 million…
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