THE government says it is not perturbed by the resurgent local use of the greenback, alongside the Zimbabwe dollar — adding that this is helpful in maintaining market stability and keeping the economy on a growth trajectory. Speaking to The Financial Gazette this week, Treasury spokesperson Clive Mphambela said the forthcoming mid term review statement…
INTEREST in the Victoria Falls Stock Exchange (VFEX) is growing as the US$-denominated market, which lists Padenga Holdings (Padenga) tomorrow, is also anticipating a third listing in September. The VFEX was launched last October, with authorities hoping it would shore-up foreign capital inflows following years of massive investor flight. Until now, the exchange had only…
NATIONAL Foods Holdings (NatFoods) and Simbisa Brands (Simbisa) have joined the Zimbabwe Stock Exchange (ZSE) Top 10 Index constituents list after registering considerable gains during the second quarter of 2021. The exchange’s latest review of the list, which ranks counters by market capitalisation, saw British American Tobacco Zimbabwe (BAT) and Padenga Holdings falling out after…
IN a major development, the Insurance and Pensions Commission (Ipec), says it will soon compensate thousands of policyholders who lost their life savings in 2009 when the country introduced a multi-currency system. The loss of savings occurred when the country switched to the United States dollar in 2009 ― following the consummation of the short-lived…
ZIMBABWE’S trade deficit with its neighbour and biggest trading partner, South Africa (SA), shrunk by 58 percent to US$50 million in April, compared to March. Latest data shows that exports to SA increased by 26 percent to US$176 million during the month compared to March. This was in spite of a four percent decline in…
TUROVER on the Zimbabwe Stock Exchange (ZSE) was up by 14 percent to $4,5 billion in June as demand for stocks persisted amid high inflation. Though inflation has been declining since the Reserve Bank of Zimbabwe introduced weekly currency auctions last June, it remains high at 106 percent for June. The ZSE All Share Index…
OLD Mutual Insurance Company’s (OM) gross written premiums (GWP) went up by 729 percent to $1,3 billion during the year ended December 31, 2020 due to an uptick in customers taking up US$ policies. In a statement accompanying the insurer’s results, group board chairman Bongai Zamchiya said the unit’s profit before tax on cost basis…
SEEDCO International (SCIL) says revenue grew by 26 percent to US$88,5 million during the year ended March 31, 2021, driven by good rains received across its markets. The company, which is dually listed on the Botswana Stock Exchange and the Victoria Falls Stock Exchange (VFEX), has subsidiaries across the region reaching as far as Democratic…
Emiliano Martinez saved three penalties as Argentina beat Colombia in a semi-final shootout to advance to Saturday’s Copa America final against Brazil. The Aston Villa keeper denied Davinson Sanchez, Yerry Mina and Edwin Cardona from the spot after the game ended 1-1. Lionel Messi set up Lautaro Martinez to put Argentina ahead before Luis Diaz…
BLANKET Mine (Blanket) has reported a 24 percent year-on-year increase in production for the quarter ended June 30, 2021. The Gwanda-based gold producer had experienced a slow start in the first quarter due to flooding. According to a statement released by parent company Caledonia Mining Corporation, Blanket produced 16 710 ounces of gold during the…
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