November 30, 2024
LISTED hotel and leisure group, African Sun Limited (ASL), reduced its debt by 22 percent during the financial year ended September 2014 under a restructuring exercise aimed at eliminating the group’s short term debt. During the period under review, debt closed at US$17,4 million following the settlement of…
Kenneth Matimaire MUTARE — The country’s sole manufacturer of knitting yarn, Karina, is expected to be sold by auction after failing to find buyers to bail it out since it went under liquidation two years ago. The auction will take place on Tuesday, provisional liquidator, Theresa Grimmel, told…
CONGLOMERATE, Zimre Holdings Limited (ZHL) is still considering delisting from the Zimbabwe Stock Exchange (ZSE), saying there were no benefits from a continued listing on the bourse. This was despite the group’s shareholders approving a US$15 million rights issue at an extraordinary general meeting (EGM) last week. ZHL…
ZIMBABWE’S beleaguered government has been diverting money meant for the production of vehicle number plates towards sustaining troubled national airline, Air Zimbabwe (AirZim), the Financial Gazette can report. (more…)
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Tetrad Investment Bank has been placed under judicial management following the expiry of its scheme of arrangement on January 31. (more…)
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RIO Tinto’s Zimbabwean unit, Murowa Diamonds, has warned that fees and tax hikes introduced in the past few years could have serious implications on its going concern status. Murowa says it had its best production in 2014, with total material mined, at 5,1 MT, setting a new record…
AT least 20 parastatals are being run by acting chief executive officers, bringing into question government’s commitment to reviving the loss-making enterprises, which are bleeding the fiscus. Zimbabwe has 78 State-run firms and nearly all of them are teetering on the verge of collapse due to heavy losses.…
ZANU-PF’s Politburo yesterday established a six-member disciplinary committee to handle the case of its former secretary for administration, Didymus Mutasa, who was booted out of the party by the Manicaland provincial coordinating committee a fortnight ago. The move surprised many of the party’s own cadres as well as…
AT least 20 parastatals are being run by acting chief executive officers, bringing into question government’s commitment to reviving the loss-making enterprises, which are bleeding the fiscus. Zimbabwe has 78 State-run firms and nearly all of them are teetering on the verge of collapse due to heavy losses.…
ZIMBABWE’s tax collector Zimbabwe Revenue Authority (ZIMRA) says it will start collecting taxes from small to medium enterprises this year to widen the shrinking revenue base, an official said. Revenue collections for the third quarter of last year fell nine percent behind target with the trend likely to…
