LANDLINE phone and data services operator TelOne recently commissioned a US$1 million data centre expansion project at its Mazowe Earth Station. Tendo Electronics and Power Engineering Company, a wholly owned Zimbabwean company, was the service provider for the project. Our Senior Staff Writer, Farai Mabeza (FM), caught up with Tendo Electronics and Power Engineering Company…
FOREIGN investors were net sellers of shares worth $322,99 million on the Zimbabwe Stock Exchange (ZSE) and accounted for 8,18 percent of total trades during the first quarter of the year, official data shows. In a portfolio manager’s digest for the first quarter, Old Mutual Securities (OMSEC) said during the period under review, the market…
IMARA Asset Management says the two percent Intermediated Money Transfer Tax (IMTT) and high fuel excise taxes are piling pressure on the formal sector. This comes as the government is seeking to include the informal sector in the tax regime as it seeks to ramp up its revenue sources. “… we believe there is scope…
NATIONAL Foods Holdings (Natfoods) lost sales momentum during the quarter to March 2022, recording an increase of only three percent relative to prior year due to an expected decline in maize offtake. In a trading update, the agro-industrial concern said the quarter’s figures were low compared to year-on-year volume growth of 24 percent achieved during…
CONFEDERATION of Zimbabwe Industries (CZI) president Kurai Matsheza says a forthcoming manufacturing sector report is set to give policymakers a detailed insight into the sector’s challenges and guidelines on how to improve it, amid rising foreign currency pressures and an anticipated low agricultural output. Speaking to The Financial Gazette ahead of the launch of the…
There are a myriad reasons why one would want to change their name. In my experience, the most fundamental motivation to change a name is to either associate oneself with something or dissociate oneself from something. It could be to conform to religious norms, to facilitate ease of migration with minors, confirmation of paternity, to…
BUSINESS confidence is slumping as inflation and operational costs continue to rise, piling pressure on increasingly apprehensive commerce and industry. Speaking to The Financial Gazette this week, worried business leaders said many companies were stretched, with input costs rising even in US dollar terms and margins declining by the day. The chief executive of the…
ZIMBABWE’S broad money supply (M3), which consists of domestic and foreign currency deposits, rose to $506,1 billion in February from $470,4 billion, latest Reserve Bank of Zimbabwe (RBZ) data shows. In its February economic review published on Monday, the RBZ said the money stock was largely composed of local currency deposits at 54,87 percent and…
AN INVESTMENT research firm says the adoption of the dual currency system has enabled the majority of companies to generate a US dollar cash flow surplus to spend on capital expenditure, including the setting up of new plants and equipment procurement. Previously, companies had been unable to sell goods and services in US$ as monetary…
TANGANDA Tea Company (Tanganda) says it is targeting joint ventures with medium scale farmers to boost coffee production, among a number of strategies, as it strengthens its diversification drive. The company relisted on the Zimbabwe Stock Exchange this February as part of Meikles’ unbundling in the form of a demerger of the assets and liabilities…
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