FOREIGN investor participation on the Zimbabwe Stock Exchange (ZSE) weakened in September, accounting for 16 percent of total trades from 34 percent recorded in August. A barometer of investor sentiment — the ZSE has been drifting lower in recent months as foreign investors, who have previously dominated the market, continue to leave in droves. In…
ZIMBABWEAN insurers have been urged to adopt digital service models to improve insurance penetration rate in the country. According to Ernst & Young, Africa’s insurance penetration is about 3,5 percent compared to a global average of about seven percent. The Insurance and pensions Commission (IPEC), puts Zimbabwe’s insurance penetration at below two percent. “The traditional…
ZECO Holdings (ZECO)’s problems have persisted after the engineering company incurred a loss of $885 605 during the half-year to June 30, 2019, compared to a loss of $581 086 in the prior period. The company has not made a profit since 2009. “The group mainly relies on infrastructure projects and construction materials, due to…
World champions New Zealand stretched out to a comprehensive 62-point winning margin over lowly Namibia, but only after the underdogs had held them up with a brave first-half display. With 35 minutes gone, Namibia, ranked 23rd in the world, were within one point of the three-time winners. But the All Blacks were in clinical mood…
ZIMBABWE has a slim chance of reviving the economy, due to fiscal pressures, waning confidence, policy inconsistencies and even the International Monetary Fund (IMF)’s staff-monitored programme (SMP) may be undermined by these recurring problems, the Bretton Woods institution said. This comes as the Zimbabwe Heads of Christian Denominations say it has “lost confidence in the…
THE government’s decision to re-introduce the Zimbabwean dollar has created reporting headaches for listed companies, with more firms delaying the release of their financial results. Comparisons between financial results for the half year ended June 30, 2019 and the previous corresponding period have been distorted by currency reforms that began during the third quarter of…
DAWN Properties Limited (Dawn) says it expects its property developments to spur profits for the year to December 31, 2019 as the company rolls out more projects. This comes after the company announced that its revenue for the half year to June 30 rose to $6,4 million, a 109 percent increase from $3 million during…
BINDURA Nickel Corporation (BNC) says it will review its business plan in a bid to improve production in the short term. This comes as the company’s production has declined significantly lately due to a decrease in ore milled. Muchadeyi Masunda, BNC’s board chairman, told shareholders at the company’s annual general meeting in Harare last week…
LAFARGE Cement Zimbabwe (Lafarge) anticipates a decline in full year volumes as demand remains constrained due to the deepening liquidity crisis being experienced in the market. The firm reported a 3,4 percent decline in sales volumes to 162 000 tonnes during the first half of the year. During the period under review, the cement market…
INNSCOR Africa (Innscor) says volumes across its poultry divisions improved during the year to June 2019 after the country recovered from an outbreak of avian flu in 2017. Between May and August of 2017, the lethal and highly contagious flu hit the region, killing more than one million chickens in South Africa and Zimbabwe. Addington…
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