AdvertisementsTSL is engaging other African commodity exchanges, through the Zimbabwe Mercantile Exchange (ZMX), to secure imports ahead of anticipated crop shortfalls from the El Niño weather pattern. The country’s 2023/24 agricultural season is forecast to receive below-normal rainfall, impacting staple grains and cereals. “We are working through the ZMX to import commodities from other African…
MUTAPA Investment Fund (Mutapa) is evaluating an investment in Tongaat Hulett (Tongaat) alongside Vision Consortium (Vision), officials say.
AdvertisementsSEVERAL companies listed on the Zimbabwe Stock Exchange (ZSE) have refrained from declaring their half-year dividends, citing economic uncertainty and the necessity to conserve cash. Despite the norm of distributing dividends annually in both cash and stock forms, with some fundamentally strong companies in the country’s stock market paying quarterly and semi-annually as interim dividends,…
AdvertisementsTHE Cotton Company of Zimbabwe (Cottco) is expecting to break even in its financial performance for the year ended March 31, 2024 in US dollar terms buoyed by the improved cost management. In a trading update for the quarter ended January 31, 2024, the company said it settled US$19,6 million, and $7,2 billion of the…
AdvertisementsPREMIER African Minerals (Premier) says it sees promising developments in the tantalum market and aims to strategically position itself to benefit from them. “Our primary objective remains producing high-grade spodumene for premium pricing,” Premier chief executive George Roach explains. “However, the tantalum reserves present a lucrative opportunity we cannot ignore.” The mining and natural resource…
AdvertisementsTHE Securities and Exchange Commission of Zimbabwe (SecZim) has implemented deterrent measures and moral suasion to stem the tide of Zimbabwe Stock Exchange (ZSE)-listed companies migrating en masse to the US dollar-denominated Victoria Falls Stock Exchange (VFEX). This development follows the recent announcement by Edgars Stores of its intention to move its listing to the…
AdvertisementsTHE Confederation of Zimbabwe Retailers (CZR) has stated that it does not foresee any price increases following the reintroduction of duty on select basic commodities, insisting that local manufacturers possess sufficient capacity. This comes amid public apprehension over potential price hikes, a common consequence of such measures. CZR President, Denford Mutashu, asserted in a statement…
AdvertisementsCOTTCO Holdings (Cottco) expects to break even by the end of its fiscal year in March 2024, despite facing challenges caused by the El Niño weather phenomenon and tight liquidity conditions, the company said in an update this week.Advertisements Like other Zimbabwean companies, Cottco has been affected by the tight liquidity situation in the economy.…
AdvertisementsSTATE-owned telecoms operator NetOne is confident it will maintain its market position despite the impending arrival of Starlink, Elon Musk’s satellite internet service provider.Advertisements The company believes its offerings cater to a distinct segment compared to Starlink’s focus on remote and underserved areas. Starlink, currently operational in 65 countries including several African nations, leverages low-orbit…
AdvertisementsTHE Zimbabwe Stock Exchange (ZSE) is likely to experience a mixed bag of results in 2024, with the El Niño-induced drought posing a significant challenge to agriculture-focused companies, according to Securities and Exchange Commission of Zimbabwe (SecZim) chief executive Anymore Taruvinga. Advertisements Taruvinga acknowledged the potential impact of the drought on agro-value chain counters, which…
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