NISSAN Zimbabwe recorded a market share of 32 percent in Zimbabwe and is planning to extend its range of vehicles to consolidate its position on the local market. Linda Mazimhaka, Senior Sub-Sahara Sales & Operations Regional Business Manager at Nissan SA said Zimbabwe is an immensely special place for the Nissan Group of Africa.…
FINANCE minister Mthuli Ncube last week proposed to increase his ministry’s budget allocation for 2019 by 440 percent from $274 million to $1,48 billion, raising eyebrows among legislators. If approved, this will make Treasury the second biggest beneficiary this year after the Ministry of Agriculture, which was allocated an additional $3,4 billion. “How can he…
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…
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