THE sixth edition of the annual ZimReal Property Investment Forum, set for next Wednesday, will spotlight capital market reforms aimed at increasing institutional investment in the real estate sector. This comes as listed real estate vehicles, capital market reforms and a surge in hospitality projects have created new avenues for investors seeking alternative assets. The…
MUTAPA Gold Resources (MGR) is formalising mining activities at Phoenix Prince in Bindura, bringing more than 50 operators under contracts and tighter safety controls after securing control of the disputed area. The initiative follows a legal victory that affirmed MGR’s wholly-owned Freda Rebecca Gold Mine (Freda Rebecca)’s exclusive rights over Mining Lease 21. Freda Rebecca…
A CHANGE in the Victoria Falls Stock Exchange (VFEX)’s market capitalisation methodology has pushed its value to a record US$8,27 billion this Tuesday, nearly double that of the Zimbabwe Stock Exchange (ZSE).The new methodology, introduced last week, requires the market capitalisation of cross-listed companies to be calculated using their full global issued share base multiplied…
TANGANDA Tea Company (Tanganda) is streamlining its operations to improve efficiency in resource allocation and utilisation as part of ongoing efforts to turn around the fortunes of the business. The restructuring follows significant governance and executive leadership changes in March this year, following the acquisition of a 27,32 percent stake in the company by Innscor…
ZIMBABWE’S sugar exporters could benefit from an El Niño-induced squeeze on global supplies, which could push international prices higher despite indirect risks to local cane production. The country’s two major sugar producers, Hippo Valley Estates and Triangle Limited, operate large-scale estates and milling facilities in the Lowveld region of Chiredzi. According to investment analysts Inter…
ZIMBABWE is seeking inclusion in the Morgan Stanley Capital International (MSCI) index framework as authorities move to attract global portfolio investors and deepen the country’s capital markets. Zimbabwe Stock Exchange (ZSE) Holdings chief executive Justin Bgoni said MSCI had already begun assessing the local market after engagements between the two parties. “We have started engagement…
OLD MUTUAL is confident that the Victoria Falls Stock Exchange (VFEX) has “matured” enough to provide liquidity and a viable trading platform for its 30 000 Zimbabwean shareholders following its migration from the Zimbabwe Stock Exchange (ZSE). The insurer’s Zimbabwean shareholders have been unable to trade their Old Mutual shares locally since trading on the…
ZIMBABWE has been ranked number three on a key African index for budget transparency and fiscal openness after South Africa (SA), and Benin, officials say. This comes as Finance minister…
DELTA Corporation (Delta) is stepping up a US$40 million capacity expansion programme aimed at increasing brewing capacity and sustaining strong sales momentum. The country’s largest beverages company has been leveraging its strong cash generating capacity to bolster its production capability amid rising demand for its products. This comes on the heels of yet another double-digit…
RAINBOW Tourism Group (RTG) has revealed an ambitious US$4,6 million expansion plan that seeks to add 209 rooms to its existing hotel portfolio over the next 12 months, targeting US$100 million revenue by 2028. The group recently delivered a record-high first-half to June 30 performance after revenue grew by 29 percent to US$26,8 million from…
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