Business

© AUSTRALIAN Securities Exchange-listed miner, Prospect Resources (Prospect), has been granted a five-year break from paying tax on unprocessed lithium from its Arcadia Mine in Zimbabwe. The lithium producer recently announced a 39 percent increase of ore reserve estimate compared to the previous estimate an- nounced in December 2017. [GoogleAd] Prospect managing director Sam Hosack…

© THE Zimbabwe Stock Exchange Limited (ZSE) has signed a memorandum of understanding (MoU) with GetBucks Microfinance Bank (GetBucks) as it seeks to operationalise the Zimbabwe Emerging Enterprise Market (ZEEM). ZEEM is meant to offer smaller enterprises a chance to list on the ZSE, an avenue for raising capital. [GoogleAd] Justin Bgoni, the local bourse…

© THE government’s move to introduce an interbank foreign exchange market before getting a string of fundamentals right has backfired, as the policy has failed to address foreign currency shortages, while a runaway black market has compounded an already precarious situation, according to a report by Econometer Global Capital. [GoogleAd] Subsequent to the exchange rate…

© LOW-COST carrier fastjet says the airline’s change of ownership will have no impact on existing and planned services for its Zimbabwe subsidiary. The airline is selling off its Zimbabwe subsidiary to a consortium led by its major shareholder, Solenta Aviation, for $8 million in a move to restructure the airline and cut down on…

© BINDURA Nickel Corporation (BNC) reported an after-tax profit of US$6,6 million in the six months to September up from US$2,8 million last year driven by exchange gains and a marked decline in cost of sales. All in sustaining costs of producing Nickel in concentrate decreased from US$ 6 900 per tonne to US$6 574…

© INDEPENDENT Power Producers (IPPs) say government’s policy inconsistencies and foreign currency shortages are some of the major hurdles affecting electricity generation in the country. Zimbabwe is experiencing severe power outages attributed to antiquated equipment at major thermal power stations and low water levels at Kariba Dam. [GoogleAd] Although the Zimbabwe Energy Regulatory Authority (Zera)…