THE Zimbabwe cricket team opens a new chapter in what appears to be a rebuilding exercise when they face Sri Lanka in a two-Test series starting on Sunday at Harare Sports Club. Zimbabwe named nine uncapped players in the provisional squad as coach Lalchand Rajput said they were ready for a “new beginning”. The first…
S&P Global (S&P) this week maintained a sub-par rating of BBB for PPC due to persistent macroeconomic risks in Zimbabwe, among a number of challenges facing the cement producer. The announcement comes as PPC has terminated its rating service agreement with the American market intelligence giant after completing the repayment of its Bond Programme. “The…
SOLAR energy firm Goodbook Investments (Goodbook) says it expects to list on Zimbabwe’s Financial Securities Exchange via Initial Public Offering (IPO) in the first quarter of this year after it received central bank approval for the transaction. Apart from exchange control approvals, the company says its IPO, which was expected in 2019, had also been…
POWERSPEED Electrical (Powerspeed) says distortions caused by recent fiscal and monetary reforms in Zimbabwe have forced it to ignore certain accounting standards. In its results for the year ended September 30, 2019, the company said “the re-introduction of a local currency has muddied both the operational and financial accounting waters”. “We have chosen not…
EXPERTS anticipate that this year will be much tougher than 2019 for both commerce and industry, as the economy continues to burn amid soaring inflation and prices of key inputs, as well as crippling fuel, power and foreign currency shortages. This comes as the government has billed 2020 as the year of increased national productivity…
FOREIGN currency earners were the best performing stocks on the Zimbabwe Stock Exchange (ZSE) in 2019, official market data shows. According to data provided by the ZSE, eight of the top 12 gainers on the exchange for the year were companies that have some form of foreign currency earnings. “A major factor is that foreign…
ZIMBABWEAN businesses say the country’s runaway inflation is likely to remain high during the first quarter of the year due to an absence of meaningful economic reforms. This comes as captains of industry and analysts continue to moan about policy inconsistencies that are eroding confidence, which is badly needed to turn around the country’s comatose…
OK Zimbabwe says its ability to maintain margins and defending market share saw it registering a profit after tax of $164,185 million for the six months to September 30, 2019 from $71,716 achieved during the same period in 2018. Herbert Nkala, the listed retailer’s chairman said the company’s capital expenditure for the period was $51,5…
WILLDALE says total borrowings declined to $43 000 in the year to September 2019 from $27 million in 2018 after the company disposed of its land bank to clear debts. Cleophas Makoni, Willdale’s chairman, said the listed brick maker realised an after tax profit of $25 million from the disposal of a piece of land…
SEED-CO Holdings (SeedCo) says it recorded a $34,4 million profit after tax in the half year to September 30, 2019, from a loss of $29,1 million in the prior year. One of Africa’s largest seed producers said its total volumes were 46 percent below prior year due to a decline in early maize seed sales…
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