AdvertisementsDAWN 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…
AdvertisementsBINDURA 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…
AdvertisementsLAFARGE 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…
AdvertisementsINNSCOR 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…
AdvertisementsZIMBABWEAN funeral assurers say they are now constantly adjusting premiums and calling on policyholders to downgrade benefits as part of efforts to contain effects of the spiralling inflation.Advertisements While government barred the release of the annual inflation rate in June, after it hit a 10-year record of 176 percent, the Confederation of Zimbabwe Industries says…
AdvertisementsTHE Zimbabwe Stock Exchange (ZSE) has gained more than $10 billion in the past two weeks, as investors react to dramatic movements in the parallel market exchange rate. The Zimbabwe dollar has slumped from about 1:13 to the US dollar to trade at 1:20-plus over the period. “The gains follow a growing risk aversion movement…
AdvertisementsTHE upward review of overnight interest rates by the Reserve Bank of Zimbabwe (RBZ) will neither contain the spiralling inflation nor the rampaging foreign currency rates, but rather stem speculative borrowing, the Confederation of Zimbabwe Industries (CZI) has said.Advertisements This is not notwithstanding the fact that the move is also targeted at stabilising prices. The…
AdvertisementsZIMRE Property Investments (ZPI) says the local property sector will experience turbulence in the short to medium term due to the shocks from the recent reintroduction of the Zimbabwean dollar.Advertisements The operating environment has dramatically deteriorated since the monetary reforms, which started in October last year, with the ring-fencing of nostro and local bank accounts.…
AdvertisementsTHE Reserve Bank of Zimbabwe (RBZ) summoned and read the riot act to bureaux de change, as the RTGS dollar continues to tumble against most major currencies, including the American dollar. Advertisements This comes as analysts have trashed Finance minister Mthuli Ncube’s assertion that the Zimbabwe dollar is “undervalued” and the Harare authorities are continuing…
AdvertisementsTHE inability of local banks to satisfy demand for cash and fund nostro services is a threat to the financial sector’s viability, a local equities research firm has warned.Advertisements In an analysis of the monetary policy statement (MPS) presented recently and the banking sector’s performance, Old Mutual Securities (OMSEC) said while the banking sector was…
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