THE performance of SeedCo’s Zambian unit during the year ended March 2018 was held back by inefficiencies in the administration of agriculture in that territory, the seed company’s chief executive officer Morgan Nzwere has revealed. Nzwere recently told analysts that the Zambian unit, which is the company’s second biggest operation after the Zimbabwean business, had…
THE Zimbabwe Stock Exchange (ZSE) has continued its rally that has been spurred by the monetary crisis in the country, with the market capitalisation pushing over $11 billon this week. The market capitalisation which closed yesterday at $11,3 billion, has now gained more than $1 billion since a little over three weeks ago when it…
THE Zimbabwe Special Economic Zones Authority (ZIMSEZA) says it is ready to roll after a year of putting in place systems and procedures. The authority now has a secretariat and a chief executive officer (CEO) and will start approving projects as soon as government gazettes regulations and incentives, which are expected next week. The authority,…
MOBILE trading in securities on the country’s major exchanges, the Zimbabwe Stock Exchange (ZSE) and Financial Securities Exchange (FINSEC), is set to commence by month end. Eliah Sarayi, spokesperson of Escrow Group, which is the technology provider of C-TRADE, the platform that enables the online and mobile trading of securities listed on the two exchanges,…
ART Corporation says it will venture into the region to grow its revenue and generate foreign currency after posting a profit after tax of $3,6 million for the half year to March 31, 2018 from $1,2 million on prior year. The group’s revenue at $22 million was 45 percent higher than the prior year as…
THE People’s Own Savings Bank (POSB) says the introduction of the Central Credit Registry and the Movable Security Registry has simplified its lending processes. Speaking at the bank’s fourth annual general meeting last week, chief executive officer Admore Kandlela said the bank viewed the introduction of the registries as an opportunity to promote lending. He…
OVER one million hectares and property worth over $300 000 was lost to veldt fires during the 2017 “fire season”. Veldt fires have become a persistent environmental challenge in Zimbabwe destroying natural resources, property and life. The Livestock Report Update of May 25 from the Environmental Management Agency shows that 3,29 percent of total land…
Demand for seed in the 2018/2019 season will remain unchanged because the Command Agriculture programme will still likely be in place, financial analysts IH Securities have said. In an analysis of SeedCo’s performance, IH said the company’s saving grace during the 2018 financial year was the extension of Command Agriculture to other crops like wheat…
A CONFERENCE on collaboration and sharing ideas in utilising trade credit insurance to promote international and local trade was held last week. Trade credit insurance protects traders who supply goods or services on credit against the risk of payment default. The conference was organised by a recently established division of Zimnat, which is a stand-alone…
RETAIL chain OK Zimbabwe was crowned this year’s best performing company on the Zimbabwe Stock Exchange (ZSE) at The Financial Gazette’s Top Companies Survey, which is bankrolled by financial services giant Old Mutual Zimbabwe. OK Zimbabwe, which has 62 outlets operated free of debt during the year ended March 2018, had record-breaking revenues that boosted…
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