NEWLY-listed Victoria Falls Stock Exchange (VFEX) counter, National Foods (NatFoods), says it remains positive on Zimbabwe’s economic outlook as it targets investments totalling US$30 million by year-end.
ZIMBABWE’S largest telecommunications company, Econet Wireless (Econet), says the regulated tariff reviews are being done at a below inflation rate. The group’s revenue for the nine months ended November 30, 2022 grew by nine percent compared to the same period last year largely driven by voice and data volumes, which were however weighed down by…
POWERSPEED says it is banking on high-quality merchandise to give it a competitive edge in an environment that is skewed in favour of informal business. As Zimbabwe’s economy continues to deteriorate, industry has rapidly degenerated, giving rise to a burgeoning informal trade. “Our ability to procure products from the best global sources enables us to…
AMALGAMATED Regional Trading Holdings (Art) says it remains wary of the risk posed by short-term borrowings and is working to refinance these with suitable facilities. In a trading update for the first quarter that ended December 31, 2022, the diversified group’s secretary, Abisai Chingwecha, said the elimination of local currency borrowings in December helped to…
AGRICULTURE minister Anxious Masuka says the country will increase the area planted for wheat from about 80 000 hectares to 85 000 hectares during this year’s winter cropping season. This comes after the country last year produced a record harvest of 370 000 metric tonnes of the crop, making the country self-sufficient for the first…
PURE Oil Industries (Pure Oil), which manufactures the popular ZimGold cooking oil, says it is supplying nearly 47 percent of the Zimbabwean market demand due to improvements in operating efficiencies. As demand for cooking oil in the local market grows, Pure Oil has been investing in expanding its operations to ensure an adequate and steady…
ZIMBABWE needs products that cover loss of value in the insurance and pensions industry amid dollarisation pressures within the economy, a senior banking official has said. This comes at a time the country is working to come up with compensation for losses incurred by policyholders during the dollarisation of 2009. The decision to compensate came…
Kia and Hyundai have offered car owners steering wheel locks and a software upgrade after TikTok videos popularised how to easily steal their cars. “Kia Boyz” trended last year with videos showing thieves breaking into the cars and taking them for joyrides. The models don’t have an electric mobiliser and use a turn-key instead of…
Did you know that Egypt, Algeria, Morocco, and Tunisia are the only African countries with a 100 percent constant power supply? I highlight this to show that constant supply of power is and always has been one of the Zimbabwean economy’s, and indeed the entire African continent’s, Achilles heel. As far as alternative sources of…
TIGERE Property Fund, Zimbabwe’s first real estate investment trust (REIT) to trade on a mainstream exchange, has had a positive start, gaining 80,79 percent since it started trading on the Zimbabwe Stock Exchange (ZSE) on December 1, 2022. The fund was listed at a price of $28 per unit but traded yesterday at $50,62. It…
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