PROPERTY firm Mashonaland Holdings (Masholds) says the group is in a position to continue generating US dollar revenue despite the economic headwinds. This comes as Zimbabwe’s market continues to witness marked disparities in the pricing of goods and services depending on the currency of settlement, with an increasing number of transactions being settled in foreign…
TURNALL Holdings (Turnall) says it expects the completion of its ongoing projects to lead to increased revenue, profitability, exports and a sustainable improvement in quality and production efficiency. The construction-materials manufacturer is currently investing in several projects which are expected to be operational next year. “Despite the challenging business environment, the group has embarked on…
BRIDGEFORT Capital (Bridgefort), formerly MedTech Holdings, has managed to reduce liabilities owed to foreign creditors, but hopes the central bank will speed up the clearance of legacy debts since delays are harming operations. This comes as legacy debts have negatively weighed on companies’ balance sheets and continue to be a barrier to their ability to…
ZIMRE Holdings (Zimre) says it will be embarking on a new investment focus towards infrastructure and landmark development, with an emphasis on sustainability. The diversified group said the activities will be undertaken through its Eagle Real Estate Investment Trust (REIT) to enable both local and international investor participation. “Looking forward, and given its proven resilience…
MASIMBA Holdings (Masimba) produced a good set of results for the year ended December 31, 2022, benefiting from the government’s renewed interest in infrastructure development. Fingaz Staff Writer Almot Maqolo (AM) had a chat with the company’s chief executive, Canada Malunga (CM), on developments within the construction industry. Below are excerpts from the interview. AM:…
BUSINESS is pleading with the government for more support to improve its competitiveness and to allow local companies to tap into the African Continental Free Trade Area (AfCFTA). Speaking to The Financial Gazette this week, the president of the Confederation of Zimbabwe Industries (CZI), Kurai Matsheza, said business wanted to see more policy consistency from…
HOSPITALITY group African Sun says after the conclusion of refurbishment works at Victoria Falls Hotel and Troutbeck Resort, it expects to spend another US$12 million upgrading its remaining properties across the country. In a statement accompanying the group’s financial statements for the year ended December 31, 2022, chairman Emmanuel Fundira acknowledged that the remaining hotels…
THE International Monetary Fund (IMF) has cut its 2023 growth forecasts for Zimbabwe to 2,5 percent from an earlier projection of 2,8 percent, amid rolling power cuts, currency volatility and high borrowing costs. The new projection is in line with that of the African Development Bank, which expects growth to average 2,9 percent, but lower…
THE Postal and Telecommunications Regulatory Authority (Potraz) says a credit crunch in Zimbabwe has hampered investment in next-generation technology, stalling the country’s digitalisation. In response to galloping inflation last year, the Reserve Bank of Zimbabwe (RBZ) increased interest rates to 200 percent before reducing them to 150 percent and 140 percent, recently. Opinions differ on…
THE recently launched Stratus commodities fund says it is seeking prescribed asset status and liquid asset status, in its quest to attract liquidity to the agriculture commodities sector. The fund, launched by Stratus Capital Partners, will be listed on the Financial Securities Exchange (Finsec) and will, according to Stratus, offer solutions to farmers against post-harvest…
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