A MERGER between Dairibord and Dendairy’s would result in a super outfit with domineering capacity, an equities firm has said. Dairibord accounts for 38 percent of the national milk intake and a merger with Dendairy’s will give it control of a larger portion of the market. Talks are underway on the deal, which was first…
RAINBOW Tourism Group (RTG) says revenue from its digital platform, Gateway Stream, has provided it with some cushion from the disruption caused by the Covid-19 pandemic, which has been especially severe on the hospitality industry. The hospitality and leisure group said its occupancies closed the first quarter 2021 at 12 percent compared to 33 percent…
RESERVE money fell by $181,07 million to $22,44 billion during the week ending May 7, 2021 as the Reserve Bank of Zimbabwe (RBZ)’s open market operations (OMO) continued. In its latest update, the apex bank said this movement largely reflected a decrease of $464,85 million in banks’ liquidity (RTGS balances) at the reserve bank, “due…
THE Zimbabwe Stock Exchange (ZSE) says it is in negotiations with several companies for them to list on the Victoria Falls Stock Exchange (VFEX) before year end. Without disclosing the interested entities, ZSE chief executive Justin Bgoni told The Financial Gazette that the companies include local as well as foreign based ones. “Several companies, both…
FIRST Capital Bank (FCB) is optimistic that a sustained stability of the ZWL$ will help it to meet the US$30 million minimum capital requirement as directed by the Reserve Bank of Zimbabwe (RBZ) by December 31, 2021. Weekly currency auctions introduced by the RBZ last June have been credited with the stabilisation of the ZWL$…
ZIMBABWE’S trade with its neighbour and biggest trading partner, South Africa, has improved considerably despite the hard lockdowns, which restricted movement of people between the two countries. Latest data show that Zimbabwe’s exports to South Africa increased from US$114 million recorded in February to US$140 million the following month — representing a 22,8 percent jump.…
LEADING players in the tobacco industry have implored the government to improve payment modalities for farmers to curb side marketing. While authorities have put in place a raft of measures to curb the practice, some of the produce is still finding its way onto the parallel market — with the Tobacco Industry Marketing Board…
BORDER Timbers’ lumber production was lower during the months to March 31, 2021, as a result of disruptions in production and logistical bottlenecks caused by the Covid-19 pandemic, the firm said. Production declined by 26 percent to 39 236 cubic metres (m3) during the period. The timber milling and manufacturing company, however, reported a pre-tax…
THE government says it will offer credit guarantees to farmers who hold 99-year leases and also rope in pension funds to help improve access to financing and in turn boost agricultural productivity. Though the country is this year anticipating a bumper harvest on account of improved rainfall, it has over the years struggled to produce…
STATE-owned fixed line operator, TelOne, says it requires capitalisation of at least US$125 million over the next five years to upgrade its network and be more competitive. According to a report submitted to Parliament and the ministry of ICT by TelOne, the current equipment has become obsolete and is in urgent need of replacement. “The…
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