© THE Reserve Bank of Zimbabwe (RBZ) says it is issuing a second tranche of Treasury Bills (TBs) worth $60 million aimed at financing government programmes. This was after the central bank’s first auction in seven years to raise $30 million issued in early August was oversubscribed. [GoogleAd] “The RBZ hereby invites financial institutions including…
© ZB Financial Holdings Limited (ZBFHL) says its profit after tax increased by 364 percent to $43,4 million in the half year to June 2019, from $9,4 million recorded in the comparative period last year due to a rise in total income. Ron Mutandagayi, the group’s chief executive, pictured, said ZBFHL’s total income increased by…
© CALEDONIA Mining continues to make money and put the bravest of faces on life in Zimbabwe where it operates its Blanket gold mine. [GoogleAd] It is helped by the devaluation in the southern African country’s currency, but the firm does score highly for grit in any case. Earlier this week, it reported lower adjusted…
© When Zimbabweans are expressing nostalgia for Robert Mugabe you know things must be bad. Yet it is now common to hear that things are worse under Emmerson Mnangagwa, president since a 2017 coup, than during the darkest days of the man he deposed. Zimbabwe is in humanitarian meltdown. [GoogleAd] Food is in such short supply…
© AFRICAN countries should commence preparations to embrace the next-generation — 5G network — that can serve as critical infrastructure for a range of industries, a senior government official has said. [GoogleAd] 5G networks, now in the final testing stage, will rely on denser arrays of small antennas and the cloud to offer data speeds…
© NEDBANK Zimbabwe (Nedbank) profit was up $14,203 million during the six months ended June 30, 2019 from $4, 366 million achieved in previous comparable period attributed to a growth in non-interest income. [GoogleAd] Revenue was up $45, 530 million excluding $2, 033 million in foreign exchange gains. The financial institution’s managing director Charity Jinya…
© THE mining sector, which contributes over 60 percent of the country’s export earnings, has applauded government for concluding an electricity deal with Eskom, which will see the South African power utility supplying 400 megawatts (MW) to Zimbabwe. [GoogleAd] The deal which followed high-level engagements between Zimbabwe and South Africa is leveraged on tripartite agreements…
© CALEDONIA Mining Corporation (Caledonia) says its financial performance during the second quarter of 2019 was boosted by the Zimbabwe dollar’s devaluation after the company realised significant cost savings and foreign exchange gains. Since February, when Harare reintroduced the currency after a decade of a multicurrency, without the domestic unit, its exchange rate against the…
© THE Zimbabwe Agricultural Society (Zas) says it is seeking to surpass its 124-year record when it holds its annual exhibition in Harare next week. Anxious Masuka, the Zas chief executive, yesterday told businessdaily that his company was pulling out all the stops to ensure that the rebranded Zimbabwe Agricultural Show will exceed expectations. [GoogleAd]…
© THE Zimbabwe Stock Exchange (ZSE) has warned that listed companies that publish announcements without its approval are liable to financial penalties. [GoogleAd] The penalties were introduced recently when the listing requirements were amended through Statutory Instrument 134 of 2019, which was gazetted in June. “The ZSE notes that a majority of issuers have…
