WESTPROP Holdings plans to separate its Pomona City land bank into a new entity, Alpha Holdings Africa, as the property developer seeks to sharpen capital allocation and strengthen its dividend-paying capacity. The proposed Scheme of Reconstruction will leave WestProp with income-generating assets, while the land bank will be housed in the new company. The group…
HIPPO Valley Estates has cut haulage costs by 17 percent and maintenance expenses by about 45 percent after bringing cane transport and truck repairs in-house, unlocking savings from previously idle equipment. The move has reduced the company’s monthly cash outlays, while allowing it to make better use of its existing fleet and workshops, as the…
Almot Maqolo AIR Zimbabwe is banking on aircraft and engine maintenance contracts as well as its Harare-London and planned Harare-Guangzhou routes to drive its turnaround, chief finance officer Tapiwa Zimbveka has said. The State-owned airline expects these ancillary services to contribute about a third of revenue to the company. In an interview on the sidelines…
Almot Maqolo CBZ Bank has gone live on the Pan-African Payment and Settlement System (PAPSS), providing a payment channel that could support cross-border transactions under the newly established ATDC Zimbabwe trade venture. ATDC Zimbabwe is a joint venture between CBZ Holdings and ATDC Dubai, a subsidiary of the African Export-Import Bank (Afreximbank). PAPSS chief executive,…
GRAND Railway Solutions (GRS), a unit of Dinson Iron and Steel Company (Disco), is set to fund about 60 percent of a US$125 million Manhize-Mvuma railway project, while five local banks and the African Finance Corporation (AFC) have expressed interest in financing the remainder. GRS, working with Disco, will construct a 50-kilometre railway line linking…
THE Pan-African Payment and Settlement System (PAPSS), developed by the African Export-Import Bank (Afreximbank) and launched in September 2021, is expected to be fully operational before the end of the first quarter of 2027, an official has said. The system, which will also be connected to China’s payment system, is meant to facilitate cross-border payments…
KAVANGO Resources plc says its gold and copper exploration plans in the region remain dependent on raising additional capital, despite narrowing its interim loss on the back of increased output at its Zimbabwe mine. The AIM and VFEX-listed miner warned it would need additional funding to sustain project spending through 2027. Kavango reported a loss…
ZIMBABWE needs to develop integrated industrial ecosystems and strengthen incentives for local production to retain more value within the economy, government officials have said. Speaking in Harare during a tour of Zent Enterprises Manufacturing Plant, Energy minister July Moyo said the development of Dinson Iron and Steel Company (Disco) demonstrated the benefits of linking investments…
COUNTERFEIT goods being packed and sold under borrowed brand names are exposing gaps in regional consumer protection as regulators often rely on complaints to identify products already circulating, officials have said. The COMESA Competition and Consumer Commission, which is based in Lilongwe, Malawi and covers member states from Eswatini to Kenya, says its ability to…
SEVERE credit constraints and high borrowing costs are hamstringing Zimbabwe’s corporate sector, choking off the long-term investment required to accelerate national economic growth, experts say. Speaking to The Financial Gazette — the country’s number one business publication and prime voice for industry and commerce — the experts noted this week the seriously limited capacity of…
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