© AIM-LISTED miner Vast Resources says it has raised £1,8 million for its Zimbabwean diamond operations through a subscription of 902,6 million ordinary shares. The cash raised from the subscription will be used for mobilisation and for general purposes necessary for the establishment of the operation in Zimbabwe which includes payment for expenditure already incurred….
© Local food processing company Amandla Brands is registering steady growth since it started operations in April last year. The company recently won the first runners-up award under the manufacturing category of the Zimbabwe National Chamber of Commerce (ZNCC) Women in Enterprise Awards held at Cresta Lodge in Harare and the company’s managing director Sympathy…
© Rubber and chemical products manufacturer, General Beltings (GB) reported a 30 percent decline in volumes during the half year ended June 30, 2019, after the firm briefly halted operations in response to a dire economic crisis triggered by monetary policy changes. “Total volumes decreased by 30 percent to 327 metric tonnes when compared with…
© NAMPAK, Africa’s largest diversified packaging manufacturer, says it is adopting hyperinflation accounting for its Zimbabwean operation in light of the hyper-inflationary environment plaguing the economy. [GoogleAd] Zimbabwean companies are currently facing even tougher times ahead as the cost of doing business keeps soaring — driven by rising inflation and interest rates, as well as…
© ON NOVEMBER 4, 2012 the Rainbow Tourism Group (RTG) announced that they had appointed top business executive Tendai Madziwanyika as the new chief executive as it sought to return to profitability in the next financial year. [GoogleAd] Until Madziwanyika’s appointment, RTG finance director Paschal Changunda had been acting since the departure of Chipo Mtasa…
© THE Confederation of Zimbabwe Industries (CZI) has called on the country’s monetary authorities to rein in runaway inflation and the fall of the local currency against major currencies as local companies are once again headed for closure. [GoogleAd] Industry has been struggling to operate due to foreign currency shortages, an unstable economic environment, inconsistent…
© AXIA Corporation Limited (Axia) posted a 102 percent increase in revenue to $557,4 million during the year ended June 30, 2019 compared to $275,9 million recorded in previous comparable period, driven by a mixed volume performance across operations. [GoogleAd] The speciality retail and distribution group recorded a profit of $63,08 million during the year…
© STANDARD Bank, Africa’s largest financial services organisation, has become a founding signatory to the UN Principles for Responsible Banking — a framework aimed at driving sustainable economic development and ensuring the prosperity of current and future generations. [GoogleAd] More than 100 banking chief executives from five continents, along with UN secretary-general António Guterres and…
© GLOBAL Credit Rating (GCR) has revised Zimnat General Insurance’s national scale financial strength rating to A+(zw) stable outlook, from its previous rating of A-(zw). [GoogleAd] The financial strength rating – formerly claims paying ability – went up two notches. GCR is the leading emerging market-focused ratings agency, rating the full spectrum of security classes…
© THE Reserve Bank of Zimbabwe (RBZ) said on Tuesday bank accounts for four firms that were frozen last week remained closed until thorough investigation into their operations were completed. [GoogleAd] In a bold move that has been applauded by captains of Zimbabwe’s industries, the RBZ’s Financial Intelligence Unit (FIU) moved to freeze bank accounts…
