ZIMBABWE’S microfinance institutions have enjoyed considerable growth lately after occupying the lending space left by banks in the face of uncontrolled government borrowing that has crowded out the private sector. Zimbabwe Stock Exchange listed Getbucks last week reported a 51 percent increase in net profit for the six months ended December 31, 2017, on the…
ZIMBABWE’s Mines Minister, Winston Chitando, last week said the high costs of running local power plants had a bearing on the country’s energy tariffs. Speaking at the Zimbabwe Trade and Investment Conference Expo in Harare, Chitando said power tariffs in Zimbabwe were high because some local plants that feed into the grid were expensive to…
LISTED cable manufacturer, CAFCA, has said its earnings for the current trading year will be significantly higher than the earnings reported the previous year. In a statement issued yesterday, the company said its earnings per share (EPS) for the year are projected at 4,5 cents per share, representing a 542,86 percent increase from the previous…
AGRO-industrial group Zimplow last week reported a profit after tax of $3,4 million for the year ending December 31, 2017, its first since 2011. This was a huge swing from last year’s loss of $2,5 million and follows restructuring at the group in the past three years, with changes being made in top management, capital…
LISTED manufacturing group, Amalgamated Regional Trading Holdings (Art), expects to have a good year, with forecast revenue of $40 million, regardless of economic circumstances in the country, board chairman, Thomas Wushe has said. Speaking to The Financial Gazette on the sidelines of the company’s annual general meeting on Tuesday, Wushe said the group expected to…
THE Zimbabwe Stock Exchange (ZSE) extended its losses in February as the market continued to undergo correction after a year-long rally that inflated stock prices. Last year’s bullrun, which was driven by inflation fears, ended when former president Robert Mugabe, stepped down in November. Mugabe is widely blamed for the country’s poor economic performance over…
THE Tobacco Industry and Marketing Board (TIMB) has dismissed as “baseless and unfounded” allegations that Tobacco Sales Floor (TSF) managing director, Mary Machingaidze was embroiled in a conflict-of-interest case after a company owned by her husband David, allegedly bought the golden leaf from TSF premises. In a statement, TIMB said it appears a competitor or…
WHEN I submitted my passport at the French Embassy in Harare, as I prepared for my once in a life time travel to Monaco — one of the world’s epicentres of extravagance — an official remarked: “You must be very wealthy going to Monaco and staying at Monte Carlo.” Returning the retort through an uncomfortable…
Paul Nyakazeya, Business Reporter
THE just-ended reporting season failed to generate excitement on the Zimbabwe Stock Exchange (ZSE) because results reflected an economy still dogged by liquidity problems and lack of relevant models to tackle several hurdles confronting business in a multicurrency system, analysts said this week.
Paul Nyakazeya, Business Reporter
ACTING Zimbabwe Stock Exchange chief executive officer Martin Matanda might have hoped to pop champagne bottles to a flurry of Initial Public Offerings (IPO) on a bourse that has had a listing drought for years.
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