© LOSSES in heavyweight counters pulled the Zimbabwe Stock Exchange (ZSE) mainstream index down 11,34 percent to 553,59 points during the month of August. [GoogleAd] According to IH Securities (IH), the industrial index was weighed down by losses in Econet, down 21,37 percent, Cassava, down 17,68 percent and Delta, down 11,04 percent. The three firms…
© NMBZ Holdings has recorded a profit before tax of $74 452 137 for the half-year ended June 30, resulting in total comprehensive income of $61 425 194. [GoogleAd] This compares with a before tax profit of $11 757 594 and total comprehensive income of $9 086 483 in the same period last year. The…
© FINANCE ministry permanent secretary George Guvamatanga says the country’s capital markets should be innovative to attract fresh capital. [GoogleAd] “I believe that some of the challenges besetting the market right now include high levels of manual operations due to lack of innovative solutions for ease of doing business,” he said at the Securities and…
© Amid power outages of as long as 18 hours a day, Econet Wireless, Zimbabwe’s biggest mobile-phone operator, is turning to the Palo Alto, California-based automaker and storable-energy company, Tesla, for batteries that can keep its base stations running. [GoogleAd] The southern African country faces chronic shortages of physical cash, so almost all transactions are…
© Hippo Valley Estates (Hippo) says its profits went up 705 percent to $44,290 million during the year ended March 31, 2019 due to an improvement in the sales mix and an increase in sales volume for both local and export markets. [GoogleAd] Hippo also attributed the massive increase in profits to “timely adjustments of…
© STANBIC Bank’s after-tax profit for the half year period ended June 30, 2019 increased to $25,8 million from $16,4 million achieved during the same period last year. [GoogleAd] Gregory Sebborn, the bank’s chairperson, said the performance was achieved under a difficult operating environment. “The bank managed to surmount the challenges brought by changes in…
© PAN-African bank, Ecobank posted a 519 percent increase in profit after tax from $16,9 million in June 2018 to $ 104,7 million, during the half year ended June 30, 2019. [GoogleAd] Ecobank chairperson Fortunate Chisango said the increase in profit was mainly attributed to an increase of 25 percent in net-interest income and a…
© Fert, Seed and Grain (FSG) managing director Steve Morland has strongly rejected claims that his company was paid US$ 400 million to supply fertilizer under the scandal-ridden Command Agriculture programme, while putting on record that his firm sold and supplied fertilizer to Sakunda Holdings. Morland speaks to the Daily News On Sunday’s Pauline Hurungudo…
© STANDARD Chartered Zimbabwe’s after-tax profit for the half year period to June 30, 2019 increased threefold to $31,1 million from $10 million achieved during the same period last year driven by the bank’s digitalisation strategy. Lovemore Manatsa, the bank’s chairperson, in a statement accompanying financials said the bank’s strategy had begun to bear fruit…
© DAIRIBORD Holdings (Dairibord) posted a profit of $3,797 million during the six months ended June 30, 2019 compared to $270 000 achieved in the prior period on the back of volume growth. Dairibord chairperson Josphat Sachikonye said while revenue increased by 139 percent to $118,1 million from $49,4 million, total operating costs increased by…
