AdvertisementsTHE delayed start to Zimbabwe’s rainfall season and the prevailing economic challenges will impact on food security in 2019, the Famine Early Warning Systems Network (FEWS NET) has said. The start of the 2018-19 rainfall season has been delayed and rains have been erratic so far. “This has adversely affected on-farm activities such as land…
AdvertisementsBUSINESS must brace for tougher times this year as the difficult economic conditions experienced in the country last year are showing no signs of letting up any time soon, analysts have warned. This comes after 2018 was characterised by a sharp increase in inflation, rising prices of goods and services, acute shortages of foreign currency…
AdvertisementsZIMBABWE has lost millions in potential foreign currency earnings after a surge in global gold prices amid subdued local deliveries. Over the past seven weeks, gold prices have gained about 10 percent to a six-month peak of $1 292 per ounce as of Tuesday, moving closer to the key $1 300 an ounce level that…
AdvertisementsTELONE’S profitability in 2018 was inhibited by unpaid government invoices after the Zimbabwe Revenue Authority (ZIMRA) charged the company penalties and interest amounting to $11 million for unpaid taxes, which related to the outstanding bills. Chipo Mtasa, TelOne’s managing director, told the Parliamentary Portfolio Committee on ICT in December last year that the company was…
AdvertisementsSIMBISA Brands (Simbisa) and Hippo Valley Estates (Hippo Valley) have been bumped out of the Zimbabwe Stock Exchange’s (ZSE) Top 10 index by newcomers Cassava Smartech Zimbabwe (Cassava) and SeedCo International. The index’s constituents were reviewed in line with the ZSE Indices ground rules as at the last day of trading in the quarter ending…
AdvertisementsHARARE City Council (HCCL)’s parking management subsidiary, City Parking, is reeling from revenue losses on the back of economic challenges in Zimbabwe. Just in the first half of 2018, the subsidiary lost out on over $1,5 million in potential revenue to touts, vendors and government institutions. The Financial Gazette’s Online Editor, Paul Nyakazeya (PN), interviewed…
AdvertisementsZIMBABWE Stock Exchange-listed cables maker CAFCA said sustainability of its September 30, 2018 profit will be based on government supporting local manufacturers and availability of foreign currency for raw material imports. CAFCA recorded a $3,5 million profit after tax in the year to September 30 2018, up from $726 213 posted in prior comparable period.…
AdvertisementsFALCON Gold Zimbabwe (Falgold) says its financial results for the period ending September 30, 2018 will be delayed due to a number of factors. In a cautionary statement, the company said it is in communication with its advisors on the impact of matters of concern on the company’s operations and financial condition. “This will result…
Advertisements Kaizer Chiefs attacker Khama Billiat says the pressure at the club is good because it means he will never relax. Billiat made the big move from Mamelodi Sundowns to Amakhosi, arguably the most talked about transfer during the last window, and he has without a doubt been the club’s best player, with nine goals…
AdvertisementsGOVERNMENT has admitted that its fiscal and monetary measures have contributed to a slump in gold deliveries by small-scale miners, who have been tendering 60 percent of Fidelity Printers and Refiners (FPR)’s bullion haul or receipts for some time. This also comes amid concerns that Zimbabwe has continued to lose tens of millions of dollars…
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