FOREIGN investors were net buyers of $12,3 million worth of shares on the local bourse last month, with GetBucks stock accounting for 80 percent of the transactions. According to Zimbabwe Stock Exchange (ZSE) figures, foreign purchases accounted for $38,2 million worth of shares while sales amounted to $26 million during the period under review. GetBucks…
MARKETS in Zimbabwe were unfazed by presidential results announced last week on Thursday in which President-elect Emmerson Mnangagwa won 50,8 percent of the votes to 44,3 percent for opposition leader Nelson Chamisa. The Zimbabwe Stock Exchange (ZSE), which was subdued during the election week, recorded gains after results were announced. The all share index registered…
ECONET Wireless Zimbabwe now has the largest market capitalisation on the Zimbabwe Stock Exchange (ZSE) after the local bourse’s decision to include unquoted shares in the company’s valuation on the equities market. Econet, which now has a market capitalisation of $3,2 billion, was the second largest company by market capitalisation, with a value of $1,97…
BRITISH American Tobacco Zimbabwe (BAT) will not be affected by international smoking bans and quotas, Old Mutual Securities (OMSEC) has said. In an analysis of the company’s recently-released financials for the six months to June 2018, OMSEC said apart from the cigarette maker having a strong business model that has withstood Zimbabwe’s harsh economic environment,…
THE recent civil service salary hikes are set to boost the performance of the consumer sector as disposable incomes increase, a local research firm has said. Last month government, in a move described by some as populist, awarded security forces a 22,5 percent pay rise before handing a 17,5 percent special allowance to all public…
PRETORIA Portland Cement Limited (PPC) is seeking shareholder approval to extend financial assistance to its subsidiaries, a move which the directors believe will benefit the group. Shareholders of the cement and related products supplier will vote on a special resolution to authorise financial assistance to related parties, among other resolutions at the company’s 126th annual…
DIVERSIFIED conglomerate, Starafricacorporation (Starafrica), is on track to return to former glory as the company’s production, profitability and financial figures show signs of life after the recent equipment upgrade and considerable progress made in restructuring the group’s debt-ridden balance sheet. As at March 31, 2018, the group’s latest reporting date, Starafrica has yet to return…
The Real Estate Institute of Zimbabwe (REIZ) says the new administration should urgently restore property rights to attract foreign investors. This comes as one of the major factors hampering FDI has been violation of property rights. Mike Juru (pictured), the REIZ president, told The Financial Gazette that resuscitation of the property market can be achieved…
RADAR Holdings Limited, which voluntarily delisted from the local bourse over two years ago, intends to set up a trading desk to facilitate over-the-counter transacting of its shares. The company will hold an extraordinary general meeting on August 28 to approve the trading platform, as well as the substitution of the company’s articles of association…
YESTERDAY’s protests in Harare, following Monday’s hotly-contested national elections, dampened business’ hopes that Zimbabwe would finally overcome its economic challenges of the past 20 years. The ugly scenes in the capital came after both economists and business representatives had expressed confidence that the relatively peaceful atmosphere that was experienced before and during voting day would…
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