Business

© THE policy trajectory taken by government in prematurely re-introducing the Zimbabwe dollar is seen further threatening social stability in the country. Maxwell Sibanda, the Daily News on Sunday’s Assistant Editor canvassed views from social and political analysts who believe that it was unwise for government to take that decision without returning to economic fundamentals….

© ZIMBABWE’S fragile markets took a back seat last week in the aftermath of government’s shock decision to re-introduce a local currency. [GoogeAd] The Zimbabwe Stock Exchange suffered for the major part of the week, while parallel market rates also dropped briefly and business and investors remained on the edge despite assurances from monetary authorities…

© THE Reserve Bank of Zimbabwe (RBZ) has reassured tobacco farmers that they will continue to receive foreign currency in their bank accounts. [GoogleAd] This comes as the country last week banned a multicurrency system it adopted in 2009 in favour of a local currency as part of efforts to stabilise prices and halt an…

© THE National Railways of Zimbabwe (NRZ) says it has failed to attract enough capital to recapitalise its operations due to country risk factors. [GoogleAd] Martin Dinha, the NRZ chairperson, said the parastatal has adopted three revival strategies to boost its operational efficiency. “We are going through a recapitalisation phase but we cannot raise enough…

© ZB FINANCIAL Holdings Limited (ZBFH) says its total revenue in the five months to May rose by 78 percent to $57,82 million as compared to $32,5 million posted in the corresponding period in 2018. [GoogleAd] Ronald Mutandagayi, the group’s chief executive, attributed the growth to inflation pull-effect which played a significant part in the…

© DAWN Properties Limited (Dawn) says revenue was up 85 percent to $4 094 million during the first five months of the year compared to $2 215 million achieved in previous year attributed to an increase in rental income. [GoogleAd] The property investment firm said rental income was up 125 percent to $2 630 million…

© PLASTIC manufacturer Proplastics says its profitability for the five months to May 2019 is 60 percent above prior year in United States (US) dollar terms. [GoogleAd] Kudakwashe Chigiya, the company’s chief executive, yesterday said it was encouraging that the profitability in hard currency for the five months was on budget. He told shareholders that…

© THE rebranded Zimbabwe Agricultural Show is targeting to fill at least 100 000 square metres when it kicks off in August this year up from 80 000 square metres in 2018. [GoogleAd] Zimbabwe Agricultural Society (ZAS) chief executive Anxious Masuka, yesterday, said the company is finalising the construction of a 2 000 square metre…

© THE Institute of Chartered Accountants of Zimbabwe (Icaz) and the Chartered Institute of Management Accountants (Cima) yesterday signed an agreement that would allow members of each body access to accelerated routes to dual designations of chartered accounts qualifications. [GoogleAd] Icaz said the agreement was motivated by a desire to ensure that professionals have an…