LONDON-based Kavango Resources Plc (Kavango) is aiming to raise about £3,08 million (US$3,86 million) by issuing 257,11 million new ordinary shares at a price per share of 1.2 pence through…
THE Ministry of Finance says it will now classify activities on the parallel market as money laundering. The treasury’s move is a bold attempt to curb currency manipulation and stabilise…
AdvertisementsCBZ Holdings (CBZHL) shares remained steady in a midweek session following the announcement of Lawrence Nyazema’s appointment as the new group chief executive officer.Advertisements Shares of CBZHL were steady at ZiG363,2500. Nyazema’s appointment, effective from April 19, 2024, comes after his tenure as the company’s acting group chief executive officer since December 1, 2023. This…
AdvertisementsCALEDONIA Mining Corporation posted a six percent increase in gold production at its flagship subsidiary, Blanket mine, to 17,050 ounces during the first quarter ended March, 31, 2024 despite having eight fewer production days compared to the same period last year. Advertisements Fewer production days were due to the production cut-off for gold de- livery…
AdvertisementsMASIMBA Holdings (Masimba) says the adverse impact of the El Nino weather phenomenon and the declining mineral prices could have spillover effects on infrastructure development spending by government and the private sector thereby impacting execution of its order book.Advertisements Zimbabwe has just endured a lackluster 2023/24 farming season due to the El Nino-induced drought expected…
AdvertisementsZIMBABWE’S diesel consumption, a key component of the country’s transport sector, increased by three percent to 1,07 billion litres in 2023, up from 1,04 billion litres in 2022, according to the latest figures. This rise is attributed to improved economic activity. Advertisements The 1,07 billion litres mark the highest diesel consumption for the country in…
AdvertisementsTHE Morgan & Co Made in Zimbabwe ETF (ETF) says the local manufacturing sector held steady during 2023 despite significant challenges confronting the economy. Advertisements The Made in Zimbabwe ETF-an actively managed fund which primarily invests in Zimbabwean manufacturing companies, posted growth of 691 percent during the year tracking the Zimbabwe Stock Exchange (ZSE) All…
AdvertisementsHWANGE Colliery Company (Hwange) says it has taken decisive action to suspend underground mine production for the next six months.Advertisements The move aims to prevent coal losses due to spontaneous combustion, a consequence of production exceeding sales. The coal miner’s administrator, Munashe Shava, said the quantity of mined coal currently available is deemed sufficient to…
AdvertisementsPIPING products manufacturer Proplastics has earmarked US$1,3 million for capital expenditure this year, a substantial 325 percent increase from the previous year.Advertisements The move aims to enhance capacity and meet both domestic and regional demand. The company is keen on expanding its exports into the Southern African Development Community (SADC) region. Encouraging gains have already…
AdvertisementsDAIRIBORD Holdings (Dairibord) has intensified its commitment to rigorous cost containment measures in response to the ongoing market turbulence. Price volatility, exchange rate fluctuations, and liquidity challenges characterise the current market landscape.Advertisements “The group is aggressively pursuing a lean and agile cost structure, ensuring sustained profitability and long-term value creation for our stakeholders,” stated Dairibord’s…
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