OK Zimbabwe (OK) has made it to the Zimbabwe Stock Exchange’s (ZSE) Top 10 Index after gaining 110 percent in 2019, to close the year with a market capitalisation of $850 million. Constituents of the Top 10 Index were reviewed in line with the ZSE Indices ground rules on the last day of trading in…
CASSAVA Smartech Zimbabwe (Cassava) says its insurance business lines grew significantly in 2019, buoyed by the group’s robust technology infrastructure. The Econet Wireless Zimbabwe (Econet) spin-off said its insurtechs, EcoSure and Moovah, saw a 5 050 percent increase in short-term policies between November 2018 and November 2019, while life policies grew by 17 percent during…
ZIMBABWE’S capital market, in its current state, lacks the depth required to support the introduction of Exchange Traded Funds (ETFs), local market analysts have warned. The Zimbabwe Stock Exchange (ZSE) this month announced that it is now able to receive applications for listing of ETFs and Exchange Traded Notes after obtaining necessary approvals from the…
Uruguay striker Edinson Cavani has told Paris St-Germain he wants to leave the club after “an approach” by Spanish side Atletico Madrid The 32-year-old has been limited to 14 first-team outings this season after Mauro Icardi’s arrival on a season-long loan from Inter Milan in the summer. “It’s true that today he asked to leave,”…
STAR AFRICA Corporation (Starafrica) says it has shaved off more than $45 million in debt and finance costs, which had suppressed the company’s profitability, after it entered into a scheme of arrangement with creditors. The scheme, which was sanctioned by the High Court in 2016 and expires in 2022, has seen 72 percent of the…
BUSINESS in Zimbabwe faces a long list of uncertainties due to self-inflicted disabilities, renowned economist John Robertson has said. In an interview with The Financial Gazette, Robertson said the challenges were a result of government’s determination to exercise total control over all business activities, resulting in many costly approval procedures, licences and permits. “Today, Zimbabwe…
ZIMBABWE’S funeral and life assurers’ uptake of reassurance remains low, raising concerns of high risk retention and insolvency, an industry regulator has said. The Insurance and Pensions Commission’s (Ipec) most recent reports show that life assurers reassured premiums worth $10 million from a gross premium of $505 million during the nine months to September 2019,…
ZIMBABWE’S month-on-month inflation rate shed 0,91 percentage points in December to 16,55 percent from 17,46 percent in November, latest figures show. According to the Zimbabwe National Statistics Agency (Zimstat), month-on-month food and non alcoholic beverages inflation rate stood at 15,75 percent in December 2019, shedding 6,88 percentage points on the November 2019 rate of 22,63…
MEDTECH Holdings’ (MedTech) says it has terminated negotiations to sell some of its assets and the acquisition of a business in a different sector. The diversified conglomerate announced last year —through a series of cautionary statements — that it was “in discussions to sell certain company net assets including investments in subsidiaries and also for…
BLANKET Mine’s (Blanket) installation of full generator power back-up — completed in October 2019 — has paid off after the mine achieved record quarterly gold production during the three months to December 2019. Caledonia Mining Corporation (Caledonia), which has a 49 percent stake in Blanket, said approximately 16 876 ounces of gold were produced during…
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