THE Zimbabwe Asset Management Corporation (Zamco) is planning to dispose of its 57,4 percent stake in Starafrica Corporation (Starafrica) before the end of the year, it has been learnt. Zamco took over Starafrica’s debt totalling $32 million in 2016. The debt was later converted to equity making it the sugar processor’s largest shareholder. “We have…
ZIMRE Holdings (Zimre)’s shares gained 17 percent on the Zimbabwe Stock Exchange (ZSE) in October – against a market-wide loss of 9,74 percent – as the group completed its take-over of Zimre Property Investments (ZPI). Zimre now holds a 97,62 percent stake in the property company, after acquiring an additional 33,34 percent, through an offer…
BRITISH American Tobacco (BAT) says the Reserve Bank of Zimbabwe (RBZ)’s currency auctions have eased some challenges it faced and therefore, expects a decent performance this year. Since the weekly foreign currency auctions were introduced in June, the Zimbabwe dollar’s wild fluctuations have markedly gone down, while some major enterprises that include Delta Corporation and…
THE collaborative or sharing economy is an emerging phenomenon that is shaping the cultural, economic and social landscape of the modern world. Applications of the sharing economy concept have found their way into various areas. For example, in finance, the collaborative economy means person-to-person banking and crowd-driven investment models that decentralise finance, with examples including…
THE Reserve Bank of Zimbabwe (RBZ) recently published an update indicating that reserve money declined by ZWL1,4 billion to ZW16,1 billion as at the week ending October 23, 2020. The decline reflected a fall of ZWL1,5 billion in banks’ deposits at the RBZ. This was mainly due to foreign currency sales to the market by…
FOREIGN investors were net sellers of shares worth $267 million on the Zimbabwe Stock Exchange (ZSE) in October, official data shows. The data provided by the exchange shows that total foreign purchases during the month were $80,75 million, while sales came to $347,79 million. Significant net sales were recorded in Innscor, Delta and Simbisa —…
THE Victoria Falls Stock Exchange (VFEX)’s much-anticipated opening last week was an anti-climax, with no trades recorded amid indications there remains some issues to be ironed out. It is envisaged that the US dollar-denominated market will shore up foreign capital inflows to the southern African nation, following years of mass investor flight. SeedCo International (SeedCo),…
WITH global demand and supply chains continuing to recover, as many countries around the world relax their Covid-19 restrictions, Zimbabwe’s key mining industry is set to lift its production levels substantially going into 2021. This comes as the re-opening of economies — coupled with the significant stimulus packages that have been availed by many governments…
THE performance of Zimbabwe’s sickly economy will remain subdued due to a negative country perception and low production across all major sectors of the economy, unless the root causes are addressed, a new report has revealed. Presenting the State of the Economy and Economic outlook on Wednesday in partnership with the Daily News, Africa Economic…
ON the outskirts of Harare, an abandoned mining town emerges as you draw closer, its pit-riddled fields and several underground tunnels bearing the marks of a previous era when the…
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