AdvertisementsFINANCIAL services group CBZ Holdings says its loans and advances clocked $2,07 trillion in the year ended December 31, 2023, registering a 145 percent growth year on year. As per the group’s internal business classification, the majority of the advances were concentrated in commercial loans, which rose 155 percent to $1,64 trillion in 2023 from…
AdvertisementsTHE Zimbabwe Stock Exchange (ZSE) recorded a significant surge in both its top and bottom lines in the year ended December 31, 2023 allowing it to declare a full year dividend of ZiG5,25 and US$0,88 per share despite strong macroeconomic and market headwinds. In 2023, the exchange realised a 303,84 percent jump in its inflation…
AdvertisementsZIMBABWE’S internet penetration rate has reached 73,3 percent, but a significant connectivity divide persists – particularly in rural areas. Advertisements This comes as the country aims to increase internet penetration to over 75 percent by 2025. Marketing manager at Powertel Communications, Prosper Mutswiri, discussed this gap during a Zimbabwe National Chamber of Commerce (ZNCC) webinar.…
AdvertisementsTHE concept of input tax serves as a critical mechanism for tax recovery by businesses engaged in the production of taxable supplies. Input tax is defined as the VAT incurred by a registered operator when acquiring or importing goods and services used in business operations that generate taxable outputs.Advertisements The eligibility to claim back this…
AdvertisementsCONVEYOR belts supplier, General Beltings Holdings says it wants to focus on consolidating market share in energy and cement manufacturing sectors amid strong headwinds in mining set to affect downstream demand for its products.Advertisements The mining sector is a key market for the group which also supplies chemicals. The group anticipates that demand for its…
Advertisements Lando Norris had not even taken his helmet off after securing his maiden Formula 1 victory at the Miami Grand Prix before the great and good of the sport began taking turns to congratulate him. Max Verstappen, the man who Norris has become the first to beat in a straight fight this year, was…
AdvertisementsVICTORIA Falls Stock Exchange (VFEX)-listed diversified manufacturing firm Zimplow Holdings is optimistic that various business strategies lined up for this year will withstand strong headwinds arising from the EI Nino-induced drought and falling commodity prices. Advertisements Zimbabwe’s agriculture-based economy is expected to take a massive hit from this year’s drought which has already been proclaimed…
AdvertisementsKAVANGO Resources Plc (Kavango) is making significant progress at its Hillside gold project in Zimbabwe as it has announced two shallow discoveries that could substantially increase the property’s potential for hosting an open-pit mine. Advertisements Kavango has identified four priority prospects at the Hillside project, with the goal of discovering one or more large-scale gold…
AdvertisementsINVICTUS Energy is currently in discussions with various potential partners for the Cabora Bassa Project. The company aims to develop its resource base and is actively seeking strategic partnerships.Advertisements In its quarterly activities report for March 2024, Invictus revealed that it had signed confidentiality agreements with several parties, including upstream oil and gas companies and…
AdvertisementsLISTED milk products processor, Dairibord Holdings, says it will not pass on the cost of the recently imposed sugar tax on its products to customers but will increase its volume performance to retain profitability. This comes in the wake of rising inflation across the domestic economy that has already weakened consumer purchasing power. The government…
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