METALLON Corporation (Metallon), Zimbabwe’s biggest gold miner, says it has down-sized operations in line with foreign currency shortages in the country. This comes as the viability of local mining companies has come under threat following the central bank’s failure to avail adequate foreign currency to the sector. Ranga Mberi, Metallon’s public relations officer, told The…
CALEDONIA Mining Corporation (Caledonia) says its dividend policy is informed, in part, by the need to reassure investors that it is in good standing despite the challenges in Zimbabwe. The Zimbabwe focused miner, which operates Blanket Gold mine, is popular with international investors because it is one of the few mining companies that has…
Chelsea manager Maurizio Sarri will be sacked before their next game, ex-Blues striker Chris Sutton said after their FA Cup defeat by Manchester United. Fans booed the Italian’s substitutions during the fifth-round match, and joined in when United supporters sang “you’re getting sacked in the morning”. “This is Maurizio Sarri’s last game at Chelsea. The…
AS THE deepening foreign currency crisis ― coupled with the perception that there is no respect for the rule of law ― has amplified Zimbabwe’s country risk, calls for the monetary authorities to liberalise the forex market have become louder. The Financial Gazette’s Online Editor Paul Nyakazeya (PN) interviewed former Reserve Bank of Zimbabwe (RBZ)…
THE Cotton Company of Zimbabwe (Cottco) says it has applied for 40 000 hectares of land in Mbire district to venture into cotton farming. The company, which had hit hard times with its shares being suspended from trading on the Zimbabwe Stock Exchange in 2014 after it applied for judicial management, seems to have regained…
LOCAL equities advisory firm says investors should put their money in Axia, African Sun, Art Corporation, Econet and Cafca to get a healthy return-on-investment in the first quarter of this year. Axia has three main business interests namely 50,01 percent in Distribution Group Africa their highest revenue earner, 66,67 percent in TV Sales and Home…
PRESIDENT Emmerson Mnangagwa has invited Ethiopian Airlines to partner with the country’s struggling national airline Air Zimbabwe (AirZim). Air Zim, currently under judicial management, is struggling to find a strategic partner due to a US$300 million legacy debt. Information minister Monica Mutsvangwa on Tuesday said Mnangagwa, who was recently in Ethiopia for an African Union…
THE Zimbabwe Special Economic Zones Authority (ZIMSEZA) says it has approved $22 million worth of investments for Bulawayo. This comes as government is implementing various measures to revive the country’s second largest city, which was once regarded as an industrial hub before the economy took a knock in the early 2000s due to bad policies.…
ENERGY minister Joram Gumbo has fired ZESA Holdings chief executive Josh Chifamba, who was on suspension over suspected corruption, after consultations with President Emmerson Mnangagwa. This comes as Cabinet on Tuesday agreed to restructure the national power utility into a “single vertically integrated company”. Gloria Magombo, the Energy ministry permanent secretary, on Tuesday told the…
THE Zimbabwe Stock Exchange (ZSE) is set for another record year in 2019 after kicking off the year with high activity. Official ZSE data shows that value traded on the local bourse in January totalled $110 million — a 47 percent increase on activity recorded during the same period in 2018. This comes as interest…
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