THE Victoria Falls Stock Exchange (VFEX) has outlined guidelines for the listing of depositary receipts (DRs) as it intensifies efforts to encourage participation. DRs are instruments issued locally that grant rights in respect of securities issued in other jurisdictions. In a recent circular to prospective issuers, the exchange said through DRs, investors can diversify their…
ASX listed Prospect Resources says it has begun the process to select a long-term financier to fully fund its Zimbabwe Arcadia lithium project following a surge in enquiries by potential partners. In a statement this week, managing director Sam Hosack said there has been a slew of enquiries recently received from a range of international…
BUSINESS has called on the government to expedite operations of the Tripartite Negotiating Forum (TNF) to reinforce efforts towards the revival of the economy. The forum’s mandate is to ensure consultation, cooperation and negotiation on social and economic issues by the government, organised business and organised labour. It was formed in 2019, but various constituencies,…
ZIMBABWE has suffered from limited foreign direct investment (FDI) flows and lines of credit. The low levels of investor confidence and uncertainties on the economic and political environment in Zimbabwe have been a major impediment in terms of FDI flows into the country. That said, Zimbabwe has a dynamic mining sector that contributes an average…
ZIMBABWE is failing to meet growing demand for its organic superfoods from new markets as most producers are already under contract to supply Europe, the country’s trade promotion body ZimTrade has said. This comes on the back of rising exports of avocados, citrus and blueberries to the European Union driven by surging consumer demand for…
FIRST Capital Bank (FCB), formerly Barclays, says its inflation adjusted income grew by 35 percent to $2,3 billion during the half-year to June 30, 2021, driven by a 76 percent increase in interest income. The bank said its interest income for the period was $924 million compared to $524 million in the prior comparable period.…
About a decade ago, Zambia was surfing a powerful wave of optimism as the copper-driven economy registered an all-time GDP growth rate of 10,3 percent in 2010. The political landscape was also stable and in 2012, the country joined a small club of African nations that were borrowing on international bond markets. There was strong…
CALEDONIA Mining Corporation (Caledonia) is upbeat on the stability seen in Zimbabwe over the past year, which allowed it to set a new production record at Blanket Mine during the quarter ended June 30, 2021, leading to a 31 percent increase in revenues. After suffering its second episode of hyperinflation in 2020, the southern African…
A HIGH prevalence of non-pensionable allowances in Zimbabwe has restrained contributions to funds, worsening liquidity challenges in the industry and creating a social security gap in the country, the Insurance…
THE Zimbabwe National Water Authority (Zinwa) is pursuing the reactivation of bulk prepaid water metering for local authorities and accelerated installation of pre-paid metering to households in a bid to enhance revenue collection for water supply. The water resources management agency has been struggling with revenue collection, resulting in lack of funding for water treatment.…
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