OK ZIMBABWE says it will be branding its financial services unit to Vimbai Capital, as the group continues to expand and diversify its income streams. “We want to expand on our money transfer agencies and insurance companies so that our financial services arm, which will be branded Vimbai Capital, will be a key focus area…
SIBANYE-Stillwater (Sibanye) says platinum, palladium, rhodium and gold 4E PGM production from its local unit, Mimosa Mining Company (Mimosa), was one percent higher than prior period at 29 060 ounces, during the quarter ended September 30, 2023. The group said all-in sustaining cost increased by 10 percent year-on-year to US$1,359/4E ounce due to inflationary pressures…
THE US dollar prices of basic food and non-food commodities in Zimbabwe are expected to remain stable in the short to medium-term, a new report has said. In its latest report on food security in the country, the Famine Early Warning Systems Network (Fewsnet) said short-lived price increases associated with the end-of-year festive season would,…
LOCAL bus manufacturer AVM Africa (AVM) says it misses the business it used to get from the government, which saw it producing a bus daily. Now, the company produces five buses in a good month and its capacity utilisation has fallen to less than five percent, managing director Jacob Kupa told The Financial Gazette. “Our…
Taxpayers are required by law to give sensitive information of their businesses to revenue authorities, such as their income, expenditures and business operations. Tax returns, assessments and other correspondents or documents that a tax authority may seek from time to time may be used to supply the information. Section 34F of the Revenue Authority Act…
THE Zimbabwe Energy Regulatory Authority (Zera) says low water levels at Kariba Dam have seen the country’s energy mix getting less sustainable with increased reliance on coal.
MEIKLES says it cannot assess possible performance for its forthcoming financial year due to the country’s inflationary environment. Advertisements In a statement accompanying the group’s 2023 annual report, chairman John Moxon noted that the economy faced elevated levels of inflation, a depreciating exchange rate, and rising interest rates during the period under review. “The resultant…
BRITISH American Tobacco Zimbabwe (BAT) says it recorded a 120 percent turnover growth during the nine months ended September 30, 2023 underpinned by strategic pricing decisions.Advertisements The cigarette manufacturer, however, recorded a seven percent decline in sales volumes during the nine months to September 30, 2023 owing to a decline in consumers’ disposable income. This…
RAINBOW Tourism Group (RTG) says it is constantly pursuing the expansion of its hotel portfolio, capitalising on its debt-free financial position.Advertisements This comes as the hotelier allocated $2,6 billion (equivalent to US$1,7 million) towards capital expenditure during the half year ended June 30, 2023. The group said its primary focus of capital expenditure investment was…
SIMBISA Brands (Simbisa) says it embarked on an organisational restructuring exercise during the year ended June 30, 2023 with a brand-focused approach.Advertisements The Victoria Falls Stock Exchange-listed group said as part of the re-organisation efforts, it made a strategic decision to streamline the brand portfolio to focus entirely on the best-performing core brands in the…
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