© PROSPECT Resources (Prospect) says it has raised approximately US$3,5 million through the exercise of 7,84 million options to raise US$0,8 million for its Arcadia Lithium project and via a placement of 23,5 million fully paid ordinary shares. [GoogleAd] The Australia-based lithium developer said the funds, net of capital raising costs, will be utilised for…
© HARARE magistrate Estere Chivasa has cleared ex-National Social Security Authority (Nssa) executive assistant James Chiuta of fraud and abuse of office charges, in a development with serious implications on former general manager Elizabeth Chitiga and several other parties’ criminal trials as well. [GoogleAd] This comes as Nssa has been squirming about a US$30 million-plus…
© FORMER Zimplow Holdings (Zimplow) chief executive, Zondi Kumwenda, has been shortlisted for the position of commissioner with the Zimbabwe Anti-Corruption Commission (Zacc). He is among 38 other candidates, including former banker James Mushore. Kumwenda stepped down as Zimplow boss in 2015. [GoogleAd] During his tenure he transformed Zimplow from a purely animal drawn agricultural…
© LISTED milk processor Dairibord Holdings Limited (DHL) says it has not been spared by the current economic headwinds which have resulted in the company’s intermittent price increases in response to the economic conundrum. [GoogleAd] Zimbabwe’s business operating environment has continued to degenerate amid a worsening currency crisis where the RTGS dollar has continued to tumble…
© THE People’s Own Savings Bank (POSB) says at least four international investors have expressed interest to acquire a stake in the financial services institution. [GoogleAd] POSB is among several State enterprises earmarked for privatisation by government following years of perennial losses. Admore Kandlela, the bank’s chief executive, said an evaluation committee has been put in…
© ZIMBABWE’S year-on-year inflation rose to a 10-year high of 97,85 percent in May from 75,86 percent in April, pushed by persistent increases in the price of basic goods, Zimbabwe National Statistics Agency(Zimstat) said yesterday. [GoogeAd] This comes as the value of RTGS dollar has been deteriorating due to the country’s growing reliance on imports…
ANALYSTS have lauded fast food chain Simbisa Brands (Simbisa) for winning the Top Companies Survey 2019 Award for the best performing Zimbabwe Stock Exchange (ZSE)-listed company. In their citation, judges and analysts said Simbisa has consistently been among the top-performing companies in Zimbabwe over the past two years and a top pick on the local…
THE Coca-Cola Company (TCCC) says it is designing its packaging to be 100 percent recyclable across its expanding portfolio by 2025, in a move that is aimed at reducing waste. The international beverages manufacturer said by 2030, all its packaging will contain 50 percent recycled materials within it. [GoogleAd] The development comes as TCCC recently…
ZIMBABWE recorded a one percent increase in tourist arrivals during the first quarter of 2019 at 558 061 from 554 417 recorded during the same period in 2018, new statistics show. The 2019 first Quarter Treasury Bulletin, attributed the marginal growth as being driven by a six percent increase in arrivals from the African markets….
AS the Zimbabwean economy has grown increasingly informal, micro-insurance has emerged as a fall-back for the insurance sector, which has been seeing considerable shrinkage in its traditional business. This comes as Zimbabwe’s growing informal sector has demonstrated resilience with a 2015 Zimbabwe National Statistics Agency report stating that 94,5 percent of the 6,3 million people…
