AdvertisementsLOGISTICS giant Unifreight Africa (Unifreight) says it is bracing itself for a tough 2019 despite registering decent progress following its restructuring exercise a few years ago. This comes as the country’s intensifying foreign currency shortages — caused by a persistent trade deficit, waning industry and confidence issues — have threatened the viability of businesses in…
AdvertisementsCOMMODITY prices and the country’s runaway inflation are likely to remain high in the coming weeks and months, a top economist has said. This comes as both business and analysts continue to moan about policy inconsistencies, which characterise the government’s key decisions — thereby eroding confidence, which is badly needed to help turn around the…
AdvertisementsAN INCENTIVE introduced by Fidelity Printers and Refiners (FPR) recently has failed to spur gold deliveries, with official figures showing that collections of the yellow metal have remained subdued. Early in May, FPR introduced an incentive for gold producers in the form of “support price” of US$1 368,28 per ounce (US$44 000 per kilogramme), which…
AdvertisementsCASSAVA SmarTech Zimbabwe (Cassava) says its revenues nearly doubled to $501 million in the full year to February 28, 2019 up from $258 million last year. Advertisements Even though the company was unable to comment on the numbers “because of the disparity between local and international experts on the appropriate accounting treatment of the effects…
AdvertisementsZB Financial Holding (ZBFH) says its profits in the five months to May increased 183 percent to $17,6 million compared to $6,2 million recorded in the same period last year. Advertisements This was after the listed financial services group’s revenue in the period under review rose to $57,82 million, a 78 percent increase from $32,5…
AdvertisementsAFRICA Sun Limited’s (ASL) says its plan to terminate a multi-million dollar management deal with Legacy Hotels International (Legacy) has been put on ice due to legal challenges.Advertisements The Zimbabwe Stock Exchange-listed hotel group recently notified the market of termination of the management agreement with Legacy due to alleged non-compliance with statutory requirements of the…
AdvertisementsSTARAFRICA Corporation (Starafrica) looks set to return to its former glory after breaking a ten-year lossmaking streak by reporting a net profit of $8,8 million for the year to March 2019.Advertisements This also comes as the company’s production and profitability has been improving following recent equipment upgrade and the considerable progress made in restructuring the…
AdvertisementsFIDELITY Life Assurance (Fidelity) says its revenues grew by 88 percent during the first five months of the year helped by improved business from its Malawi unit. This comes as the Zimbabwe Stock Exchange-listed life assurance group, which recently reported its second consecutive annual loss on the back of a deteriorating operating environment in the…
AdvertisementsTHE Zimbabwe Stock Exchange strengthened in June, rallying 8,62 percent to close the month at a total market capitalisation of $27 billion.Advertisements This is despite the local bourse breaking its bull run in the last week of the month as market shocks emerged in the wake of the announcement of Statutory Instrument 142, which brought…
AdvertisementsFIRST Mutual Properties (FMP) is banking on international tenants to generate foreign currency needed for the maintenance of its top end real estate assets. Advertisements Elisha Moyo, the listed real estate firm’s chairman, said the United Nations will continue paying rentals in hard currency at Arundel Office Park, notwithstanding the recent banning of multi-currency transactions…
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