INACTIVITY on the Victoria Falls Stock Exchange (VFEX) is weighing on SeedCo International’s (SeedCo) stock, which is now trading at a 15 percent discount on the market compared to the Botswana Stock Exchange (BSE). Turnover on the budding exchange, which was launched last October and has just one listing, has only amounted to about US$9…
TSL’S revenue grew by 33 percent to $1,5 million during the half-year ended April 30, 2021, driven by sales volumes growth in its agro-inputs business. The company said Agricura, which distributes agro-chemicals and provides pest control services, recorded volume growth in most product lines due to product availability, improved marketing and a strong distribution network,…
THE Reserve Bank of Zimbabwe (RBZ) says it will put in place strong measures to ensure that the recently introduced export and investment incentives, which give some leniency on exchange controls, are not abused. Following the Treasury’s announcement of the inducements in May, the central bank has now operationalised the programme through a directive to…
FBC Insurance Company recorded an inflation adjusted profit after tax of $38 million during the year ended December 31, 2020 from a $106 million loss recorded the previous year, driven by growth in investment income. “The impressive performance was mainly buoyed by investments income of $126 million. As inflationary pressures continued to negatively affect premium…
MICROLENDER, Success Microfinance Bank (Success) incurred an inflation adjusted loss of $196 million for the year ended December 31, 2020, weighed down by cost increases. Zimbabwe experienced its second episode of hyperinflation in a decade last year, with inflation peaking at 836 percent in July. Success last week said its operating expenses were up by…
SOUTH Africa’s embattled ex-president Jacob Zuma, once jailed for fighting the apartheid regime, now faces another 15 months behind bars for shunning a corruption probe into his administration. Zuma – whose middle name Gedleyihlekisa means “one who laughs while grinding his enemies” – started off as a herdboy and rose to become South Africa’s fourth…
CBZ Holdings boss Blessing Mudavanhu has been named both the Institute of Directors Zimbabwe (IoDZ) 2021 director of the year and chief executive of the year. Mudavanhu was appointed CBZ group chief executive in June 2018 and led a turnaround of the perennially underachieving financial behemoth into a high performing blue chip. Speaking at the…
AMERICAN great Serena Williams says she is “heartbroken” after her latest attempt for a record-equalling 24th Grand Slam was cruelly ended by injury. Williams started against Aliaksandra Sasnovich with heavy strapping on her thigh and slipped in the fifth game. The 39-year-old went down again in the seventh game and was overcome by emotion before…
The stock market value of Facebook has topped $1 trillion for the first time after the tech giant won a court victory against US regulators. A federal court dismissed two lawsuits, from the Federal Trade Commission (FTC) and a coalition of states, sending Facebook shares up 4.2%. It took the value of Facebook above $1tn,…
THE tourism sector says 70 percent of its employees have been vaccinated against Covid-19 as it bids to avert another travel shutdown in the wake of a third wave of infections. The industry is concerned by rising Covid-19 cases which last week saw a rolling seven-day average of 627 infections a day. “As an industry,…
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