THE Victoria Falls Stock Exchange (VFEX), yesterday entered into an agreement with the Dubai Gold and Commodities Exchange (DGCX) to establish an international market in Zimbabwe. It comes a few weeks after Zimbabwe launched an agriculture commodities exchange, which is meant to revamp agro-produce marketing. “DGCX will extend technical support, knowledge, and skills to VFEX,…
THE price of basic commodities in Zimbabwe is approaching parity with neighbouring South Africa with some goods actually priced lower, a local research firm has said. In a research note published this week, IH Securities said the new shift towards regional price parity in the local market was likely a result of indirect price controls…
FINANCE minister Mthuli Ncube has urged the Zimbabwe Revenue Authority (Zimra) to refine its information technology platforms to improve collections. In a speech at Zimra’s fourth annual general meeting last week, the treasury boss said it was important to assess the tax authority’s performance against the maximum potential to collect revenues considering the untapped potential…
THE Infrastructure Development Bank of Zimbabwe (IDBZ) says its efforts to establish a fund to support green projects have received a major boost after its accreditation was approved by the Green Climate Fund (GCF). The GCF is a critical element of the historic Paris Agreement ― the world’s largest climate fund, mandated to support developing…
THE government has lined up several financing initiatives to support the upcoming summer cropping season following a hugely successful 2021 season, which saw cereal production exceed 3 000 000 metric tonnes. Now authorities are looking to build on these gains in the forthcoming season, taking advantage of a favourable rainfall forecast. Zimbabwe is expected to…
SEEDCO International (SeedCo) is issuing 12 195 003 additional shares representing a 3,1 percent stake after 82 percent of the company’s shareholders elected to be paid scrip as opposed to cash in respect of a dividend for the year ended March 31, 2021. The pan-African seed processor gave owners a 0,97 US cents per share…
BAT Zimbabwe has reported a 27 percent growth in sales for the half year ended June 30 2021, which saw revenues surge by 63 percent on the back of increased investments in the company’s marketing strategy. Revenue grew to $1,4 billion from $848,3 million driven by increased sales volume, price increases implemented during the current…
THE Zimbabwe Stock Exchange (ZSE) yesterday introduced an odd lot board on its direct access service as it continues to refine the facility, which is meant to promote financial inclusion. ZSE Direct, which allows investors to trade on the bourse without the manual intervention of brokers, was introduced a year ago and the exchange has…
EVERY season it is estimated that Zimbabwean farmers lose as much as 30 percent of their harvest because of poor storage facilities. To curb these losses the government, together with Financial Securities Exchange (Finsec), a licensed securities exchange, TSL, a publicly traded agro-industrial business and CBZ Holdings, launched the Zimbabwe Mercantile Exchange (ZMX) last month.…
GENERAL Beltings Holdings (GB) says it is refining its marketing strategy in response to changes in its markets. The company produces rubber and chemical products for both the local and export markets. According to GB’s managing director, Wilboard Tsuroh, there has been a general relaxation of barriers of entry to the markets the company serves,…
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