CASSAVA Smartech trading as Ecocash Holdings Zimbabwe’s loss in inflation adjusted terms slightly reduced to $1 billion for the year to February 2021 from $1,2 billion as the group accelerated its digital transformation journey in response to challenges brought by the Covid-19 pandemic. The group is also expected to resume trade on the Zimbabwe Stock…
THE Victoria Falls Stock Exchange (VFEX) is working with the Dubai Gold and Commodities Exchange (DGCX) in framing a clearing and settlement commodities exchange framework, which will pave the way for increased investment on the platform. Speaking at Victoria Falls commodities exchange workshop in the resort town yesterday, Finance minister Mthuli Ncube said DGCX would…
THE Supreme Court has dismissed with costs an appeal by Prophetic Healing and Deliverance Ministries (PHD) leader, Walter Magaya, pictured, seeking to nullify a 2019 High Court ruling which authorised the Zimbabwe Gender Commission (ZGC) to investigate allegations of sexual abuse against him. In delivering her judgment, Supreme Court judge, Justice Anne-Marie Gowora, ruled that…
THE Zimbabwe Stock Exchange (ZSE) on Friday lifted CFI Holding Limited (CFI)’s suspension from trading on the main bourse after the company regularised its corporate governance shortcomings as required under the listing requirements. Trading in the securities of CFI was suspended on January 2, 2018 for failure to comply with the free float requirements and…
HWANGE Colliery Company Limited (HCCL) is targeting to consistently produce at least 200 000 tonnes of coal monthly following improved funding in the form of lines of credit from regional financiers and local banks. In a statement accompanying the company’s financial results for the year to June 30, HCCL said a lot of work had…
RIOZIM Limited says it will prioritise the completion and commissioning of its Biological Oxidation (BIOX) plant project before the close of the financial year to December 31 to increase gold production. This comes after the group suffered a further inflation adjusted loss of US$1,4 billion for the half year to June 30, 2021 from $77,4…
LISTED conglomerate Innscor Africa Limited (Innscor) recorded an inflation adjusted revenue of $66,9 billion for the year to June 30, 2021 up from $49,4 billion prior year on the back of volume growth across all businesses. In a statement accompanying the group’s financial results for the period under review, Addington Chinake, Innscor’s chairperson, said profit…
NATIONAL Foods Holdings Limited (Natfoods) says it has taken steps to sharpen accountability at a business unit level in order to become more alert and responsive to the prevailing economic environment. This follows after the group recorded an inflation adjusted profit after tax of $72,4 million for the year to June 30, 2021 from $2,2…
With phase I and II already proving to be enormously beneficial, Zimbabwe yet again seeks to further enhance its digital transformation program…
MASIMBA Holdings Limited (Masimba) has urged the Reserve Bank of Zimbabwe to address the backlog at its foreign currency auction system so that companies’ operations are not affected by increased production costs and raw material supply disruptions. In a statement accompanying the construction and engineering company’s financial results for the half year to June 30,…
