THE Zimbabwe Rugby Union (ZRU) has sacked Sables coach Peter de Villiers due to unauthorised leave from work fifteen months after his high profile unveiling. The former Springboks coach who described the appointment then as the “greatest day of my life” has indicated from South Africa where he is at the moment that he will…
ZIMBABWE’S recent changes in the monetary system will not give much impetus to the struggling economy due to restrictions on trading currencies, an international think-tank has said. This comes as the southern Africa country’s monetary authorities have sought to address hard currency shortages by abandoning the unsustainable 1:1 dollar peg for bond notes and local…
TREASURY’S recent rebasing of 2018 economic statistics to reflect GDP value in the RTGS dollar has created confusion, as it conflicts with Statutory Instrument (S.I.) 33 of 2019, analysts have said. In February, the central bank redenominated bond notes and local bank balances into a separate currency ― the RTGS dollar ― tradable against major…
DELTA Corporation (Delta), Zimbabwe’s largest beverages manufacturer, says it has rebased its balance sheet from the United States (US) dollar to the RTGS dollar using the interbank market rate, even though this goes against the dictates of Statutory Instrument (IS) 33 of 2019. This also comes at a time Finance minister Mthuli Ncube has rebased…
LISTED cable maker CAFCA says it is concerned that the current foreign currency shortage in Zimbabwe could lead to “hyperinflation”. This comes only a decade after the country suffered an episode of hyperinflation, which has been recorded in history books as one of the worst ever after monthly inflation was reported at 2 600,24 for…
DELTA Corporation, Zimbabwe’s biggest company by market value, is bracing for cash-strapped consumers to spend less on its beverages in the months ahead. The manufacturer of Zambezi Lager beer and Coca-Cola Co. sodas is already grappling with foreign-exchange shortages that are crimping its ability to procure raw materials and service debt. Demand for its products…
THE Zimbabwe Stock Exchange (ZSE) says it will next month launch a service, which will give fund managers and institutional investors direct access to the market without manual intervention by brokers. Up until now, all trading on the local bourse has been exclusively through brokers. Even the trades on the mobile trading platform, C-Trade,…
Manchester City say they are “disappointed, but regrettably not surprised” after being referred to Uefa’s club financial control body. BBC Sport reported this week that Uefa investigators want City banned from the Champions League for a season if found guilty of breaking financial rules. Chief investigator Yves Leterme has made his recommendation to Uefa but it…
STRUGGLING coal miner Hwange Colliery Company Limited (HCCL) says its future is under threat due to the non-renewal of its western area concession. Mines minister Winston Chitando recently told Parliament that President Emmerson Mnangagwa used his executive powers to refuse HCCL a renewal licence for the concession. Without the licence, the troubles of the company,…
THE Zimbabwe Stock Exchange (ZSE) has given a free pass to listed firms that received auditors’ ‘adverse opinions’ on their results for the period ending December 2018 for failure to comply with international accounting standards as a result of a recently gazetted statute. This comes as Statutory Instrument 33 of 2019, which was gazetted after…
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