AFRICAN Sun Limited (ASL) has signed an agreement with the Intercontinental Hotel Group (IHG) that will see the British multinational managing Monomotapa Hotel (Monomotapa). (more…)
SOUTH Africa-based chemicals group Omnia Holdings’ restructuring exercise is now bearing fruit after the company’s operating profit jumped by over 3 180 percent. (more…)
CALEDONIA Mining (Caledonia) has declared a further 13 percent increase in its quarterly dividend from the previous 7,5 cents to 8,5 percent, as stable production, high gold prices and good cost control have contributed towards cash generation in 2020. (more…)
AFRICA-focused investment firm Contango Holdings (Contango) is now trading on the London Stock Exchange after it completed the reverse takeover of Consolidated Growth Holdings’ 70 percent interest in the Lubu coal project in Zimbabwe. (more…)
ZIMBABWE’S food security situation continues to deteriorate and will need to import 1,3 million tonnes of maize to avert a catastrophe, government says. (more…)
IMARA Asset Management (Imara) says Covid-19 has accelerated the demise of the Zimbabwe dollar (ZWL$), which has been struggling to hold traction against major currencies since it was reintroduced last year. (more…)
JOHANNESBURG Stock Exchange-listed Arden Capital (Arden) has reported a 27 percent revenue decline to $58,1 million for the year ended December 31, 2019, from $79,3 million in the previous year. Simon Village, Arden’s chairman, said the decrease in revenue was primarily attributed to the decline in occupancy levels…
THE hard-pressed retail sector is bracing for worse times ahead due to plunging aggregate demand, the collapsing Zim dollar, the ongoing national Covid-19 lockdown and supply chain disruptions caused by the global pandemic. (more…)
HWANGE Colliery Company Limited (HCCL), Zimbabwe’s largest coal producer, says the government’s decision to cancel its mining rights at Western Area Coalfields will significantly worsen the country’s power crisis. (more…)