Companies & Markets

INFORMATION technology (IT) and consumer staples stocks are expected to anchor the growth of the local equities markets this year, leveraging their cash-generating capacity and dominant market positions, analysts say.Authorities have forecast six percent economic growth for 2025, although challenges such as delayed rains, unprepared farmers, underfunded energy infrastructure, and weak investor confidence raise doubts…

THE proliferation of smuggled goods on the local market is having an adverse effect on the viability and growth of business, National Foods Holdings Limited (Natfoods) chief executive, Michael Lashbrook, has said.The development has culminated in recent shutdowns by several formal businesses across the country.Speaking in Harare recently, Lashbrook said smuggling has created an uneven…

TANGANDA Tea Company (Tanganda) says it is developing a 60-hectare coffee plantation under a joint venture arrangement with a private partner as it seeks to revamp dwindling coffee volumes.The Zimbabwe Stock Exchange (ZSE) listed agro-industrial concern has seen a drastic decline in coffee output recently owing to its ageing plantations that have adversely affected yields.In…

KLM Royal Dutch Airlines will cease its freight operations to Harare starting this April, citing operational challenges linked to the service, it has emerged.This was revealed through a notice to customers by Tiger Freight’s managing director, Pim de Wit, who reassured clients that the shipping services provider is actively seeking solutions to address the impending…

DELTA CORPORATION (Delta)’s sparkling beverages segment recorded a 16 percent slump in sales volumes during the third quarter ended December 31, 2024 as the sugar tax induced price increases weakened its competitiveness against imports from the region.The sugar tax, introduced at the start of last year as part of the government’s effort to expand its…

ADVANCEMENTS in technology for cable manufacturing equipment have enhanced capacity utilisation at Cafca, despite a challenging operating environment.Companies across the country have been investing in technological upgrades to improve efficiency and offset costs associated with alternative power solutions.Cafca’s chief executive, Vimbayi Nyakudya, stated that the group had embraced technology to address electricity supply shortages.“The gaps…

EFT Corporation has appointed Farai Tigere to head up its Zimbabwean operations, where he will spearhead the company’s initiatives in financial inclusion, digital transformation, and economic empowerment.Having joined EFTCorp first as an implementation engineer, before shifting focus in 2018 to business development and solution architecture, Tigere has played a key role in Zimbabwe’s payment digitisation…

FINANCIAL services group CBZ Holdings (CBZ) says it has managed to insulate its lending business from sectoral shocks by diversifying loans across several sectors and spreading risk.By diversifying their loan portfolios, banks tend to reduce their exposure to specific sectors, which can help them avoid losses during economic downturns or other unexpected eventsThe Zimbabwe Stock…

DELTA Corporation (Delta) will this year prioritise cutting costs across its supply chain in pursuit of more profitable growth, a senior company executive has said.The beverage-maker has been hit by a plethora of operational challenges mainly the sugar tax, exchange rate distortions and foreign currency shortages to procure raw materials.In a recent interview with The…

TANGANDA Tea Company is set to issue dates for an extraordinary general meeting of shareholders to consider and approve the proposed listing of a new class of shares on the Victoria Falls Stock Exchange and issuance of a rights offer to raise US$8 million.The Zimbabwe Stock Exchange (ZSE)-listed group initially wanted to migrate to the…