© THE freight industry this year suf- fered a major drop in export and import volumes as the economy continue to decline, the Shipping and Forwarding Agents Association of Zimbabwe (SFAAZ) has said. SFAAZ represents all shipping, freight and forwarding, customs clearing, bondage ware- house operators, in-house clearing as well as importers and exporters in…
© RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has been tasked by President Emmerson Mnangagwa to inject more money into the market following unending cash woes that have resulted in long bank queues. In a bid to lessen the cash shortages, the government had in recent weeks injected $110 million in notes and coins…
© ONLY 15 percent of the country’s three million small medium enterprises (SMEs) are formally registered, Finance minister Mthuli Ncube has said. The Treasury boss said this while speaking at the recent launch of the growth enterprise market (GEM) portal SME Funding and Listing platform which was developed by the Financial Securities Exchange (Finsec), which…
© THE Financial Securities Exchange (Finsec) in partnership with C-Trade and United Nations Capital Development Fund (UNCDF) have launched a growth enterprises market (GEM) portal designed to enable micro, small and medium enterprises (MSMEs) to raise capital through equity listing or debt funding. Finsec chief executive officer Collin Tapfumaneyi said the platform was designed in…
© AIM-lIsted Premier African Minerals says its RHA tungsten mine in Zimbabwe will be fully connected to electricity supply early in 2020 after delivery of equipment by Zesa Holdings (Zesa). Zesa has provided RHA with a temporary solution that can be operated manually at site until a new transformer is delivered and installed. [Adz] George…
© OIL and gas exploration company Invictus Energy and Tatanga Energy have signed a gas sales memorandum of understanding (MoU) to progress gas supply from Cabora Bassa Project and develop a 500-megawatt (MW) gas-to-power plant. The MoU also covers the supply of up to 36,5 billion cubic feet of gas per year (Bcf) for 20…
© ZB Financial Holdings (ZBFH) says its revenue grew by close to 300 percent to $234,1 million in the nine months to September driven by an increase in non-funded income. Non-funded income, which aris- es from bank charges, transaction fees and monthly account service charges, among others, contributed 86 percent of the group’s total revenue,…
© MEIKLES Limited (Meikles) says it recorded a $159 million profit in the six months to September compared to $16,1 million in the prior year largely driven by increased revenues across its operations. The group’s earnings before interest, tax, depreciation and amortisation for the period amounted to $223,5 million, up from $31,8 million recorded. [GoogleAd]…
© LAWYER and entrepreneur Brian Kudzaishe Mataruka has won the Africa Leadership University Chairman’s Scholarship for 2020. The Gill, Godlonton & Gerrans partner will co-share the prestigious award with Zimbabwean born and Zambia-based social entrepreneur Tafadzwa Sasa. [GoogleAd] Mataruka is a non-executive director at Willdale Bricks where he also chairs the human resources and remuneration…
© PAPER and packaging group, Nampak Zimbabwe Limited (Nampak), says it recorded a decrease in sales, although export volumes increased due to higher demand for tobacco packaging in Malawi and Mozambique. John Van Gend, Nampak’s managing director, said the announcement of Statutory Instrument (SI) 142, which introduced the mono-currency system, compounded the difficulties of sourcing…
