PADENGA Holdings (Padenga), Zimbabwe’s largest crocodile skin producer, says it is diversifying into gold mining to increase revenue streams. The company, which is seeking shareholder approval to acquire a majority stake in gold miner Dallaglio Investments (Dallaglio), this week said the latest development is aimed at shifting “exposure away from reliance solely on the production…
BINDURA Nickel Corporation (BNC) says it sees the price of nickel firming from the current levels of around $13 000 per tonne to over $17 000 per tonne due to an anticipated increase in demand for the base metal. This comes as the company has been forced to put its $20 million smelter upgrade on…
THE Reserve Bank of Zimbabwe (RBZ) has extended the deadline of a US$15 000 minimum capital requirement for bureaux de change to December this year. In April this year, the central bank licensed 26 new bureaux de change operators to facilitate the smooth operation of the inter-bank foreign currency exchange market, which was introduced in…
OK ZIMBABWE should maintain its market share to break even in the current environment characterised by weak consumer spend, price increases and shortage of foreign currency, a local equities research firm has said. In an analysis of the country’s largest retailer’s three months performance to June 2019, Old Mutual Securities (OMSEC) said despite the negative…
FOREIGN investors were net buyers accounting for $23,4 million worth of shares on the Zimbabwe Stock Exchange (ZSE) in July, with particular interest in Innscor Africa Limited (Innscor), Dawn Properties Limited (Dawn) and Old Mutual Limited (OM) According to figures from the bourse, foreign purchases accounted for $41,9 million worth of shares while sales amounted…
Lewis Hamilton staged a thrilling fightback to catch and pass Max Verstappen for victory in the Hungarian Grand Prix. Hamilton’s eighth win of the season puts a headlock on the championship after a tense race-long battle between the drivers and their strategists at the Mercedes and Red Bull teams. Hamilton came very close to pulling…
ZIMBABWEAN life assurance firms are seeking a reprieve from government on prescribed assets, which they say are inhibiting their ability to invest in value preserving assets. This comes as the local insurance and pension industry has been forced to watch their books’ value eroded by rising inflation, as regulators’ investment rules restrict their ability to…
THE prices of local basic commodities in Zimbabwe remain relatively low in real terms compared to regional countries, research firm Morgan & Co has said. Zimbabwe has been experiencing a sharp increase in prices in the last nine months due to uncertainties and volatility in the market. The situation, which was self-correcting towards re-dollarisation, was…
BINDURA Nickel Corporation (BNC) says the US$26 million smelter restart project remains on hold but plans are afoot to complete it when nickel prices firm in future. BNC floated a $20 million bond almost four years ago to raise the bulk of the $26,5 million Africa’s only integrated nickel extractor needed to restart its Trojan…
ZIMBABWE is currently reviewing the regulatory framework of the National Social Security Authority (NSSA) to align it with best international practice, it has been learnt. This comes as the Insurance and Pensions Commission (IPEC) has over the years persistently lobbied for NSSA to fall under its purview, amid numerous reports of corporate governance issues at…
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