AdvertisementsGOVERNMENT says it is currently reviewing the share trading suspension of Old Mutual Zimbabwe and PPC Zimbabwe on the Zimbabwe Stock Exchange (ZSE) which has been in effect for close to four years. Advertisements Old Mutual Zimbabwe, SeedCo International and PPC — all listed on foreign bourses — were suspended from the ZSE in June…
AdvertisementsTHE Reserve Bank of Zimbabwe (RBZ) says the challenges encountered by formal business operators regarding the statutory 10 percent trading margin on the official exchange rate for instore use will no longer be an issue following the introduction of a much stable new local currency, the Zimbabwe Gold (ZiG). Advertisements Government through a Statutory Instrument…
AdvertisementsRAINBOW Tourism Group Limited (RTG) has announced a strategic partnership with Switzerland-based hospitality group, Grand Metropolitan Holdings BV (GMH). Advertisements The collaboration aims to establish multiple joint ventures, primarily in the realms of technology and hospitality. The partnership encompasses various facets, including the establishment of management contracts across African hotels, sharing of best practices in…
AdvertisementsBUSINESS has been cheered by the launch of the country’s new currency, the Zimbabwe Gold (ZiG), as well as the raft of other measures that were taken by the central bank last week. Advertisements Captains of commerce and industry who attended Tuesday’s post-monetary policy statement (MPS) meeting in Harare said they had been “greatly encouraged”…
AdvertisementsSEVERAL listed companies have postponed the publication of their full-year results for FY 2023, primarily attributing the delay to technical issues related to audits.Advertisements However, affected firms have been granted permission to publish their financials by the end of this month. The earnings season typically commences in February and extends until March. However, many of…
AdvertisementsEXPERTS say the Reserve Bank of Zimbabwe (RBZ)’s adoption of a market-determined ex – change rate could ensure price stability if consistently implemented. Advertisements New RBZ governor, John Mushayavanhu, announced the shift through his monetary policy statement last week and on Tuesday, during a post-monetary policy statement review meeting that was hosted by 3Ktv. He…
AdvertisementsTHE Reserve Bank of Zimbabwe’s (RBZ) recent interest rate cut could stimulate economic activity by increasing loan demand, financial and banking industry players say. Advertisements This development follows the recalibration of the bank policy rate from 130 percent per annum to 20 percent per annum, aligning with the new monetary policy framework. RBZ Governor, John…
AdvertisementsBRICKMAKER Willdale expects to pocket US$16,6 million before costs from the sale of unutilized pieces of land with proceeds to be channelled towards increasing capacity and subsequently profitability. Advertisements This follows approval from shareholders at an ex traordinary general meeting held this week to allow for the proposed resolutions to unlock value from unused pieces…
AdvertisementsPPC has reported that its capital expenditure for the current fiscal year is trailing behind forecasts due to a delay in the completion of the fly ash project at its Zimbabwean unit. Advertisements The company’s capex guidance for the full year ending March 31, 2024 (FY 2024) stands at R600 million. The implementation of the…
AdvertisementsTSL is pioneering a new tobacco curing system aimed at addressing deforestation challenges. Advertisements The rise of tobacco as a cash crop in Zimbabwe has had detrimental effects, with the devastation of the country’s forests being a chief concern. Despite prohibitions, enforcement remains lax, and constructing woodlots has proven neither swift nor practical in solving…
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