© FOREIGN investors were net sellers of $2,1 million worth of shares on the Zimbabwe Stock Exchange (ZSE) last week, latest figures show. [GoogleAd] According to the ZSE, foreign purchases accounted for $11,4 million worth of shares during the week under review while sales amounted to $13,5 million. Regional seed manufacturer SeedCo Limited dominated the…
© ZIMBABWE is currently sitting on an ivory and rhino horn stockpile of US$600 million, revenue that could be used for sustainable wildlife management, President Emmerson Mnangagwa has said. [GoogleAd] The latest figure is, however, a significant increase from previous reports which indicated the country was sitting on US$300 million stockpile. Mnangagwa, who was addressing…
© THE Zimbabwe Revenue Authority (Zimra) says it will be implementing a new five-year strategic plan aimed at improving and widening the country’s tax system. [GoogleAd] This comes as Zimbabwe’s tax system has been described as too complex and rigid resulting in the southern African country losing billions of dollars in potential revenue as many…
© AFRICA’S largest seed producer, SeedCo Limited (SeedCo), says it has no plans to introduce genetically modified organisms (GMOs) maize seeds into the country. [GoogleAd] Although research has proved that GMO crops improve harvests and reduce production costs, Zimbabwe has remained rigidly averse to the artificial plants notwithstanding genetic engineering making a rapid entry into…
© GETBUCKS Microfinance Bank (GetBucks) shareholders have approved a RTGS$5 million rights issue to grow its loan offerings. The financial institution’s shareholders approved resolutions that would allow the bank to raise up to RTGS$47 million in additional capital. [GoogleAd] “The approvals were obtained through resolutions to raise approximately RTGS$5 million via a renounceable rights offer…
© THE EcoCash FCA Merchant Forum, a quarterly meeting which brings together businesses utilising the country’s leading mobile money platform, was launched in Harare at the weekend. [GoogleAd] Speaking after the launch, EcoCash chief executive officer Natalie Jabangwe said the quarterly event is part of efforts to help merchants grow their businesses in a manner…
© MASIMBA Holdings says gross profit performance for the five months to May 2019, strengthened to 14 percent compared to 13 percent during prior year mainly attributed to improved operating efficiencies. [GoogleAd] Canada Malunga, the company’s chief executive officer, told shareholders at an annual general meeting on Friday that the group would continue to preserve…
© TRANSPORT minister Joel Biggie Matiza says lack of capacity and inefficiencies have contributed to a significant decline in the country’s railways market share. Matiza yesterday told a Southern African Railways Association (Sara) meeting that the rail industry in the region is suffering from a huge backlog in maintenance and rehabilitation of infrastructure and rolling stock…
© STATE-owned mobile telecommunications giant, NetOne, has stepped in to offer a solution to the salary payments crisis resulting from a dispute between local banks and Mauritian company, Paynet. NetOne launched a bulk payments platform, termed OnePay, which is a secure bulk payment service that allows an entity to process payments centrally to any OneMoney…
© AMALGAMATED regional trading (ART) on Thursday said its profit for the year ended March 31, 2019 increased by 135 percent on the prior period despite a depression in demand for its products. The company reported a profit after tax of RTGS$8,68 million progressing from a profit of RTGS$3,69 million in the previous comparable period,…
