OLD Mutual Securities (OMSEC) says investors should buy stocks from Axia Corporation Limited (Axia), African Sun Limited (ASL), Turnall, Padenga and OK Zimbabwe for better returns. This comes as the blue chip counters have traded exceptionally well in the third quarter at a time when most firms were failing to hold their own due to…
FALCON Gold Zimbabwe (Falgold) shares spiked to a four-year high in October after gaining 20 percent on the Zimbabwe Stock Exchange (ZSE) to close at three cents. In September, the ZSE lifted a seven-month suspension on trading of the company’s shares. Falgold had been suspended after it failed to publish its financials within the stipulated…
TRANSPORT minister Joel Matiza says the Civil Aviation Authority of Zimbabwe (CAAZ)’s restructuring exercise has delayed the appointment of a new board for the parastatal. Last year, government enacted Civil Aviation Amendment Act which will see the regulator stand alone and the establishment of a separate entity, the Airports Company of Zimbabwe. However, since the…
FINANCE minister Mthuli Ncube’s rosy growth projections for next year are unattainable — due to the country’s worsening economic climate, mounting fiscal pressures, waning investor confidence and continuing policy flip-flops, analysts say. This comes after the under-pressure minister said in his recent 2020 pre-budget statement that Zimbabwe’s economy would soon turn the corner and grow…
ZIMBABWE’S industry faces tougher times ahead as inflationary pressures continue to push the cost of doing business, the Confederation of Zimbabwe Industries (CZI) has said. The country’s largest business member organisation, which represents the interests of most of the remaining formal businesses, raised alarm over the state of the economy in a recent report which…
THE market value of the Zimbabwe Stock Exchange (ZSE) has fallen by over 80 percent in US dollar (USD) terms since February, as the local currency continues to lose value against major currencies in the face of rising inflation and falling output.Authorities in the southern African economy re launched the Zimbabwe dollar and banned a…
THE total value of shares traded on the Zimbabwe Stock Exchange (ZSE) declined by 14,4 percent to $466,6 million during the third quarter of the year, from $545,5 million recorded during second quarter due to a drop in foreign investors participation. Foreign investors accounted for 20,1 percent of the total value traded compared to 37,9…
HWANGE Colliery Company (Hwange) says high costs and low output have kept it in a net current liability position. The company, however, swung to a $3,5 million profit in the half year to June — from a $23 million loss in 2018. But total liabilities still exceeded its total assets by $286 million. “The net…
The local insurance and pensions industry says the mandatory requirement to invest in prescribed assets restricts them from investing in other value preservation assets in the face of rising inflation. This comes after government gazetted Statutory Instrument 206 of 2019 which raised the prescribed asset ratios for Life assures to 15 percent from 7,5 percent.…
ZIMBABWE’S diesel imports dipped to a 31-month low of US$57,5 million in August from US$78,3 million in July, due to foreign currency shortages, data provided by the Zimbabwe National Statistics Agency (ZIMSTAT) has shown. Petrol imports also fell to a 30-month low of US$24 million in July, before recovering marginally to US$26 million in August.…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More