Jonga elected ICAZ president
JONAS Jonga has been elected president of the Institute of Chartered Accountants of Zimbabwe (ICAZ) for 2026-27 at the institute’s annual general meeting held in Victoria Falls this week.Jonga succeeds…
JONAS Jonga has been elected president of the Institute of Chartered Accountants of Zimbabwe (ICAZ) for 2026-27 at the institute’s annual general meeting held in Victoria Falls this week.Jonga succeeds…
Kudzanai Gerede Companies and Markets Editor LOCAL companies are coming under mounting pressure as rising operating costs squeeze profit margins, constrain cash flows and threaten growth. Several listed companies recently reported that rising input, energy, fuel, freight and financing costs were eroding profitability and limiting their ability to improve capacity utilisation. The cost pressures come…
RAINBOW Tourism Group (RTG) posted a 260 percent jump in after-tax profit to US$3,7 million in the six months to June 30, 2026, as higher hotel occupancy, stronger foreign currency earnings and tighter cost controls boosted margins. The record-high first half performance was underpinned by a 29 percent increase in revenue to US$26,8 million from…
THE admission of Zimbabwe as a borrowing member of the New Development Bank (NDB) will usher in a new era of alternative development financing, opening fresh funding avenues for critical infrastructure, analysts say. The country has endured close to two decades of isolation from traditional lenders, mainly the Bretton Woods institutions the International Monetary Fund…
THE Mines and Minerals Bill is on course to be gazetted into law before year-end after the government addressed constitutional concerns raised by Parliament, Mines minister Polite Kambamura has said. Speaking during a recent tour of Mutapa Gold Resources’ Freda Rebecca Mine in Bindura, Kambamura said authorities had resolved issues raised by Parliament’s legal committee…
THE People’s Own Savings Bank (POSB) has remitted a record US$5,14 million dividend payout to its shareholder, the Mutapa Investment Fund (MIF), following a strong financial performance during the year ended December 31, 2025. During the year under review, the state-owned lender raked in US$54,15 million in revenue driven by strong customer acquisition efforts which…
ZIMRE Holdings (Zimre) says it resumed recognising earnings from its 41,08 percent shareholding in CFI after the associate returned to profitability during the year December 31, 2025. The recovery in CFI signalled the potential turnaround of a long-troubled investment that had previously been fully impaired after years of cumulative losses. “In prior years, the company’s…
MUTAPA Gold Resources (MGR) says it remains focused on cost management rather than fluctuating bullion prices as global gold markets retreat from record highs reached earlier this year. International gold prices peaked at an all-time high of US$5 595 per ounce late January this year driven by uncertainty in the global economy. Since then, the…
SANDAWANA Lithium Mine has declared a 39,9 million-tonne JORC-certified resource with 72 percent measured confidence, positioning Zimbabwe’s project among the world’s most bankable emerging lithium deposits. Mutapa Energy Resources says the maiden Joint Ore Reserves Committee (JORC)-compliant resource estimate marks a major geological milestone for Zimbabwe’s mining sector, providing independent confirmation of the quality and…
MUTAPA Gold Resources (MGR) has earmarked US$1,2 million for the construction of a new assay laboratory at its Freda Rebecca Gold Mine in Bindura as it moves to strengthen testing capacity and support growing exploration activities. The investment comes as MGR became the first gold miner in Zimbabwe to secure international accreditation for its current…
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