Business

© TRUWORTHS Zimbabwe (Truworths) says it registered a 68 percent decline in unit sales in the first quarter ended October 2019 attributable to inflationary conditions and severe erosion of consumer disposable incomes. The listed clothing retailer’s company secretary Brenda Chibanda said inflationary pressures continued to erode purchasing power, resulting in the slump in sales. [GoogleAd]…

© THE Insurance and Pensions Commission (Ipec) says the industry should review its asset valuation framework after insurers and pension funds’ valuations knocked down a combined US$8 billion off their balance sheets this year. [GoogleAd] Grace Muradzikwa, the statutory body’s commissioner, indicated that the industry’s huge book value downgrades this year point to valuation deficiencies….

© PPC says its operations in the half-year to September 30 were adversely affected by significant devaluation of the Zimbabwean dollar. The group’s financial results excluding Zimbabwe declined by 12 percent to R4 948 million compared to R5 597 million the previous year, attributable to a 17 percent decline in overall cement volumes to 2,6…

© ECOBANK says it has been cleared by the Reserve Bank of Zimbabwe (RBZ) of any wrongdoing after a picture of its client holding new notes worth $15 000 went viral on social media. [GoogleAd] The bank yesterday said investigations by the central bank’s Financial Intelligence Unit (FIU) showed that it complied with the regulatory…

© LEOPARD Rock Hotel (LRH) executive director Samir Shasha, pictured, says he has not threatened anyone at the plush resort. This comes after reports that the American national had pointed a gun at one of the squatters on his Chenyakwaremba Farm and property in Vumba. [GoogleAd] “I have been (falsely) accused by an illegal settler…

© ZIMBABWEAN entrepreneur Itai Manyere has been elected as the Junior Chamber International (JCI) president for 2020. The momentous election took place in Tallin, Estonia over the weekend. “I’m at this point humbled but at the same time excited, as your friend, more than your president, to see you all here this evening,” Manyere said…