GENERAL Beltings (GB) Holdings says Zimbabwe’s projected six percent economic growth will drive demand in key sectors but cautioned that regional competition brought by the African Continental Free Trade Area (AfCFTA) will intensify pressure on local firms.Advertisements AfCFTA, which commenced trading on January 1, 2021, created a market of about 1,2 billion people and established…
CAFCA says a US$1 million solar plant commissioned at its factory last month will cut electricity costs by 30 percent, helping the company improve competitiveness against rising imports.Advertisements The solar system, which produces 1MW on the Alternative Current side and peaks at 1,16MW, forms part of the company’s strategy to reduce production costs and cushion…
OLD Mutual Zimbabwe Limited (OMZIL) is seeking shareholder approval to convert an US$84,3 million debt owed to subsidiaries into preference shares as it aims to ease cash flow pressure and clean up its balance sheet.Advertisements Under the proposal to be decided at an annual general meeting stated for May 27, OMZIL will issue the new…
CALEDONIA Mining Corporation’s revenue for the first quarter ended March 31, 2026, grew 18,3 percent year-on-year to US$66,43 million buoyed by stronger gold prices.Advertisements This is despite lower production at Blanket Mine, which produced 14 767 ounces of gold during the quarter and sold 13 372 ounces, while consolidated gold sales, including output from the…
MUTAPA Investment Fund (MIF) is confident of servicing US$1,9 billion Treasury Bills (TBs) issued by the government for the acquisition of a 35 percent stake in Kuvimba Mining House in 2024, driven by rising mineral prices and asset value growth.Advertisements The TBs are payable over 10 years with a grace period of three years, commensurate…
FIRST Mutual Properties is set to delist from the Zimbabwe Stock Exchange in July 2026 following a cash buyout offer from its majority shareholder, First Mutual Holdings (FMH).Advertisements The proposed transaction involves an offer to acquire up to 360,944,355 ordinary shares, representing approximately 29,2 percent of the company’s issued share capital held by minority shareholders.…
AFRICAN Distillers (Afdis) invested US$4,4 million in plant modernisation during the year ended March 31, 2026, to improve efficiency, expand capacity and support rising demand across its product portfolio.Advertisements The country’s largest spirits maker said the capital expenditure was directed towards upgrading plant and equipment amid intensified market competition. “These investments strengthened the operating platform…
THE National Social Security Authority (Nssa) is assessing its capacity to implement a long-term pension adjustment after granting pensioners a 100 percent increase in their May allowance as an interim relief measure.Advertisements The temporary boost comes as many pensioners continue to struggle on monthly payouts of about US$70 to US$80, which fall far short of…
KAVANGO Resources plc will issue 36,596,469 new ordinary shares on or around May 15, 2026, to Comarton Consultants and six pension funds under the Comarton Managed Pension Funds’ Investments Consortium as part of an ongoing investment agreement.Advertisements The shares will be issued at £0,01 each, using a Bank of England exchange rate of £1 to…
FIDELITY Gold Refinery (Fidelity) says it is optimistic about reaching the targeted 50 tonnes of gold this year, up from 46,7 tonnes achieved in 2025.Advertisements Fidelity general manager Peter Magaramombe told the Public Accounts Committee this week that the target will be buoyed by supportive government policies and expanding mining operations. “Last year…we achieved 46,7…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More