RAINBOW Tourism Group (RTG) has declared a dividend for the first time since 2006. This comes after the listed hospitality concern recorded a profit after tax of $5 million for the year to December 31, 2018, from $112 265 achieved in the prior year, and Tendai Madzivanyika, the group’s chief executive, declaring the company was…
SOWETO – South Africa’s opposition party, the Democratic Alliance (DA) says the country should expect an economic revolution if it emerges victorious after the elections scheduled for Wednesday. Addressing thousands of supporters at the Dobsonville stadium in Soweto, DA leader Mmusi Maimane said his party will put an end to corruption which he said had…
FIRST Mutual Holdings Limited (FMHL) says its short-term insurance business has seen an increase in the value of claims due to foreign exchange rate movements on the parallel market. This comes as parallel market rates for bond notes and domestic bank balances against major currencies have deteriorated since October last year when the central bank…
FINANCE minister Mthuli Ncube is this week expected to ink the US$800 million (11,2 billion Rand) trade and supply chain facility (TSCF) with a consortium of South African banks to finance local industries, it has been learnt. While the ex-African Development Bank chief economist and vice president was not reachable for comment this week, it…
ZIMBABWE Stock Exchange (ZSE) listed companies say they are cautiously optimistic about the future of their businesses, despite deteriorating economic fundamentals characterised by low disposable incomes and inflationary pressures. The companies, which recently published financial results for 2018 said despite the challenging trading environment, they remain “cautiously” positive about their operational strength, new ventures and…
NMBZ Holdings (NMBZ) says it is not keen on “vigorously” pursuing Treasury Bills anymore because it considers the yield to be unattractive. In recent years, Zimbabwean financial institutions, including NMBZ’s commercial banking unit, NMB Bank, have been increasing capital allocation towards investment securities, particularly Treasury Bills, after controlled lending rates and other factors had exerted…
DAWN Properties Limited (Dawn) says it will this year increase its investment property portfolio in tourist resort areas to boast revenue as return on investment in such zones is generally higher. Commenting on the company’s outlook after the group recorded a revenue of $11,2 million for the year to December 31, 2018, a 117 percent…
UNTU Capital (Untu) says it has received bond-holder approval to increase the security for its $4 million bond issued in 2017. This comes as the bond’s guarantee by a Mauritian firm was suspended last year after the micro-lender failed to remit fees to the underwriter due to foreign currency shortages in Zimbabwe. Untu last week…
BARCELONA wrapped up their 26th La Liga title with a sluggish victory over Levante thanks to a goal from second-half substitute Lionel Messi. Ahead of Wednesday’s Champions League semi-final first leg with Liverpool, Messi began the game on the bench. The Argentina forward came on at the interval following a goalless first half and scored…
FOR many Zimbabweans, David Pocock is just another ‘son of the soil’ who is now playing for Australian professional rugby union football team, the Brumbies. But for the sports’ followers, he is one of the game’s finest open-side flankers, a vocal and inspirational player whose silence can be too loud for his team mates or…
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