AdvertisementsTRANSPORT and logistics concern, Unifreight Africa (Unifreight) significantly reduced borrowings during the six months to June 30, 2024 to ZWG31,1 million, a 39,5 percent decline from ZWG51,7 million in December 2023. Advertisements The sharp decline in debt levels reflects a strategic pivot towards maintaining financial stability and minimising the risks associated with excessive leverage in…
AdvertisementsOLD Mutual Zimbabwe has announced that its asset management division invested US$13 million in alternative ventures, including renewable energy projects, during the half-year ending June 30, 2024.Advertisements In a statement accompanying the group’s financial results, Old Mutual Zimbabwe chief executive, Samuel Matsekete, emphasised the company’s commitment to driving transformation toward a green economy. “The transition…
AdvertisementsZIMRE Holdings (Zimre) recorded a 63 percent surge in insurance contract revenue to US$31,6 million for the half year ended June 30, 2024, driven by impressive real business expansion in regional reinsurance units and the life and pension segment.Advertisements Regional operations bolstered group insurance contract revenue as a result of new business acquisitions and increased…
AdvertisementsPADENGA Holdings (Padenga)’s cumulative spending on capital projects surged 7,98 percent to US$7,19 million in the first six months ended June 30, 2024 from US$6,66 million in the comparative period as the group seeks to consolidate its diversification strategy. Advertisements The group, which has mining and crocodile breeding businesses operating as Dallaglio Investments and Agribusiness…
AdvertisementsLIQUEFIED Petroleum Gas (LPG) consumption in Zimbabwe rose by 7,08 percent in the first eight months of 2024, reaching 47,42 million kilogrammes (kgs), up from 44,29 million kg during the same period in 2023, according to latest data from the Zimbabwe Energy Regulatory Authority (ZERA). While this increase might seem like a positive trend, it…
AdvertisementsPLAYERS in Zimbabwe’s tourism industry are calling for the revitalisation and capacitation of the aviation sector, emphasising the need to draw lessons from neighbouring African countries to enhance the country’s tourism growth.Advertisements This comes as Zimbabwe seeks to revitalise its aviation industry after years of neglect, with recent policy changes aimed at fostering a competitive…
AdvertisementsTHE Reserve Bank of Zimbabwe (RBZ) has urged banks to integrate sustainability into risk assessments and help businesses manage environment-related risks. Experts emphasise that prioritising sustainability is crucial for Zimbabwe to avoid past mistakes and secure a prosperous future for future generations. Zimbabwe, like much of the African continent, is dealing with the impacts of…
AdvertisementsINNSCOR Africa (Innscor) has significantly boosted volumes across its major business units in the just-concluded fiscal year to June 30, 2024, and is now beginning to realise the benefits of its US$160 million investment in capacity expansion over the last three years. The Victoria Falls Stock Exchange (VFEX)-listed conglomerate, with operations spanning across light manufacturing,…
AdvertisementsINDUSTRY leaders are intensifying their push for the establishment of a currency board, as Zimbabwe continues to grapple with exchange rate distortions that are destabilising the economy.Advertisements Last Friday, the Reserve Bank of Zimbabwe (RBZ) devalued the recently introduced gold-backed currency by more than 40 percent against the US dollar. The move came in response…
AdvertisementsECOCASH Holdings Zimbabwe (EcoCash) more than doubled its spending on local suppliers of goods and services to ZWL665 billion -mainly small to medium businesses, as part of its efforts to grow the sector.Advertisements EcoCash spent ZWL1,5 trillion on suppliers during the year that ended February 29, 2024 (FY 2024), representing a 181 percent growth from…
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