MASHONALAND Holdings (Masholds) says its investment portfolio’s value declined by 11 percent to $13,9 billion during the 15 months to December 2021, in inflation adjusted terms, largely due to degradation of the Harare central business district (CBD). In its 2021 annual report released on Tuesday, the property group said the capital loss reflects the current…
LLOYD Crowdfunding, a start-up in the Reserve Bank of Zimbabwe’s fintech regulatory sandbox, has made a bid to assist small businesses in sourcing capital. Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the Internet. According to the Cambridge Centre for Alternative Finance,…
SABI Star Mine, a lithium-producing asset partly owned by the Chengxin Lithium Group of China, says it has set aside US$1,2 million to complement the District Development Fund (DDF) in…
ZIMBABWE Stock Exchange (ZSE)-listed companies that released financial results and announced trading updates recently say profit margins have been dampened by the growing gap between the official and parallel market exchange rates. With the local currency continuing to lose value on both the formal and parallel markets, corporates reported that the country’s currency disparities and…
AFRICAN Sun (Afsun) is lining up a US$10 million investment for hotel refurbishments in anticipation of improved tourism activity this year. In a trading update for the first quarter to March 31, 2022, the hotelier said it was optimistic that room occupancy will maintain an upward trajectory, driven predominantly by the domestic market in the…
ZIMRE Holdings Limited (Zimre) seeks to develop an independent wealth management arm, which will inform and direct the group’s investment initiatives. This comes as the diversified group last year announced it was restructuring its business to strengthen it against the macro-economic shocks prevailing in Zimbabwe and the region. Zimre said it continues to implement its…
THE Harare City Council (HCC) and Geo Pomona Waste Management (Pvt) Ltd yesterday said they are ready to work with all stakeholders on the €303.9 million Pomona dumpsite project.
TOP economist Gift Mugano has cast doubt over the practicality of the government’s plan to compensate individuals for losses suffered due to a statutory exchange rate movement on February 20, 2019. On that date, the government denominated local balances and bond notes as RTGS$, establishing an exchange rate between US$ cash and all other monetary…
PARLIAMENT recently passed the Pension and Provident Fund Amendment Bill. The Bill, together with the Insurance and Pensions Commission Bill and the Insurance Bill — still before the National Assembly — form part of changes to the country’s legislation and regulation around the insurance and pensions sectors. These changes are part of a broader reform…
AFRICAN Century is optimistic that the government will deliver on its promise to settle legacy foreign debts, which were registered as “blocked funds”. Between 2015 and 2019, a number of companies could not remit payments to foreign suppliers and shareholders due to foreign currency shortages in the country. After the introduction of an interbank rate…
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