Almot Maqolo, Staff Writer, Author at The Financial Gazette

ZimAlloys fund-raises to restart its furnaces

GWERU-based ferrochrome processor Zimbabwe Alloys (ZimAlloys) says it requires US$16.3 million to restart two of its biggest furnaces. (more…)

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September 28, 2023

Companies & Markets

Proplastics investment pays off

PIPING products manufacturer, Proplastics, says its new investment of a 500mm production plant contributed 47 percent to total revenue during the half year ended June 30, 2023. (more…)

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September 28, 2023

National Report

LPG usage declines

THE Zimbabwe Energy Regulatory Authority (Zera) says it expects a five percent annual increase in liquefied petroleum gas (LPG) usage despite a decline of 2,16 percent in the first half of the year. (more…)

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September 27, 2023

Companies & Markets

Fastjet awaits legacy loans legislation

FASTJET says it is awaiting the Reserve Bank of Zimbabwe’s (RBZ) final position on the next steps to expunge legacy loan balances. (more…)

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September 24, 2023

Companies & Markets

BNC commits US$34 million to mine closure plans

Bindura Nickel Corporation (BNC) says it has committed US$34,43 million in the past three years towards mine closure plans and rehabilitation of mine areas being closed out. (more…)

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September 22, 2023

National Report

Cottco to build oil expressing factory

COTTCO Holdings (Cottco) says it will set up a 60-tonne per day oil expressing factory in Gokwe, which is expected to support rural development. (more…)

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September 21, 2023

Gold deliveries down 13 percent

GOLD deliveries to Zimbabwe’s sole buyer of bullion, Fidelity Gold Refinery, declined by 13,45 percent to 19,33 tonnes in the first eight months of 2023, latest statistics show. (more…)

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September 21, 2023

Companies & Markets

FX transactions boost Stanbic income

STANBIC Bank has reported a 572 percent rise in its inflation-adjusted half-year profit, underpinned by the surge in foreign currency-denominated transaction volumes. (more…)

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September 17, 2023

Companies & Markets

Empower Bank targets increased US$ income

EMPOWER Bank says it will increase its foreign currency income generation going forward, despite recording the first six months of 2023 as the most difficult operating period in its five-year operating history. (more…)

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September 14, 2023

Companies & Markets

BNC mulls solar power plant project

Bindura Nickel Corporation (BNC) says it will be embarking on a solar power plant project as it seeks to transition to clean energy sources to reduce its carbon footprint. (more…)

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September 14, 2023

Sunday, 1 October 2023

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