SECURITIES firm Morgan & Co says the country’s telecoms giant, Econet Wireless Zimbabwe’s share price will likely triple from the current US$0,10 to US$0,30 per share this year due to increased foreign currency revenue flows. Econet shares traded at an average price of $100 (approximately US$0,10) per share throughout 2022. However, the company’s shares closed…
ROSS-listed assets are trading at considerable premiums and discounts on the Victoria Falls Stock Exchange (VFEX) due to underdeveloped price discovery. Caledonia Mining Corporation (Caledonia) closed yesterday at US$14,43 per share on the New York Stock Exchange (NYSE), at par with its closing price on the London Stock Exchange of £11,68 (US$14,44). On the VFEX,…
THE Zimbabwe Construction Industries Association (ZCIA) has urged the government to take steps to protect the sector from tax penalties caused by delayed payments to contractors. This comes as the construction industry has also expressed concern about the government’s late payments for work done. “With this whole due diligence process, payments are not coming when…
AGRO-SEED producer Seed Co Limited (Seed Co) says volumes increased by 14 percent over the nine months ending December 31, 2022 compared to the same period prior year driven by a combination of factors including record wheat sales. This comes as the 2022 wheat season saw the country producing a record 380 000 metric tonnes,…
BORDER Timbers says it has secured a US$2,9 million funding facility from local financiers, which it may opt to use to recapitalise its operations. Since leaving judicial management in March 2022, the company’s board has made a decision to implement a recapitalisation strategy to improve operations. “The company has invested in new sawmills at both…
PLATINUM miner Zimplats’ total operating costs increased by 13 percent for the quarter ended December 31, 2022, due to high production volumes, inflationary pressures, and a 42 percent increase in the power tariff. In a trading update for the period, Zimplats said a total of US$4,5 million was transferred from operating costs as milled throughput…
MINERS have commended the government’s new directive for them to pay 50 percent of their royalties in kind, saying the move will not disrupt operations. This comes as the government recently announced a new mining royalties system directive to companies mining gold, diamonds, lithium, platinum group metals (PGMs) and any other precious stone or valuable…
ZIMBABWE is set to build a US$20 million lithium battery manufacturing factory as the country seeks to ramp up value addition efforts, Finance minister Mthuli Ncube says.
FINANCIAL services group, ZB Financial Holdings (ZB), is targeting high-value customers through its latest innovative product —Premium Service Centre — as the group moves to conclude its transformation journey this year. Premium service targets high net worth customers and people who make an impact at a national and global economic scale through the “My ZB”…
FBC Securities says the Victoria Falls Stock Exchange (VFEX) is set for increased activity in 2023 buoyed by a growing number of listings. The US dollar-denominated market launched in 2020 as part of efforts to attract global capital, restore foreign investor confidence in Zimbabwe’s capital markets and assist companies raise foreign currency capital, saw an…
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