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Simbisa wins top companies award survey

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© ZIMBABWE Stock Exchange-listed fast food operator, Simbisa Brands, was on Friday-night crowned the best performing company on the local bourse at the Financial Gazette’s Top Companies Survey 2019 sponsored by financial services giant, Old Mutual Zimbabwe. The aim of the survey is to promote good corporate governance practices, ethical conduct and corporate social responsibility,…

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Short-term insurers show resilience

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© THE Insurance and Pensions Commission (Ipec) says the non-life insurance industry has shown resilience after registering a 17,29 percent growth in gross premium written (GPW) in 2018, despite a challenging environment. [GoogleAd] In its recently published Short Term (non-life) Insurance Report for the quarter ending December 31, 2018 Ipec said: “During the year under…

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Former Telecel CEO suspended

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© TELECEL Zimbabwe (Telecel) board has suspended its former chief executive Francis Mawindi as a board member with immediate effect over alleged breach of the common law fiduciary duty of confidentiality. This comes after a letter to the board recommending the firing of his successor Angeline Vere written by Mawindi was allegedly leaked to the…

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Govt revives horticulture

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© GOVERNMENT is working on reviving horticultural exports to ensure the sector delivers 10 percent in terms of economic growth. Zimbabwe’s horticulture sector, whose export performance peaked at $143 million in the 1999/2000 season, is on a revival path and is expected to be a key driver in the country’s future value-added export growth. [GoogleAd]…

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Zim’s e-learning programme transforms rural schools

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© THE government’s e-learning programme which is funded through the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) universal services fund has transformed schools in remote areas, businessdaily has established. Zimbabwe introduced the e-learning programme a few years ago in an effort to make the country a regional information and communication hub. [GoogleAd] Speaking during…

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Powerspeed profit up 19 pc

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© POWERSPEED Electrical profit for the half year ended March 31, 2019, increased 19,33 percent to $2,44 million compared to $2,04 million same period last year largely driven by increased revenue. Martin Gurira, the company secretary, in a statement of the financials said turnover increased 62 percent to $60,1 million from $37,2 million last year…

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OK Zim records RTGS$49m profit

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© ZIMBABWE Stock Exchange-listed retailer OK Zimbabwe (OK) says its profit for the year ended March 31, 2019 was up 196 percent on the prior period to RTGS$49,22 million after a strong increase in revenue. This comes as prices of goods and services have skyrocketed with the country’s official inflation climbing to a 10-year high…

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Agribank sues Hermes Capital

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© THE Agriculture Development Bank of Zimbabwe (Agribank) has sued Hermes Capital over a US$2 million loan. The agro-focused bank entered into a loan banking facility agreement of US$2 million with the debtor on December 13, 2016 for the purpose of providing working capital to 39 farmers to implement 3,332 hectares of commercial maize during…

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Padenga moves ahead with solar project

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© Padenga Holdings (Padenga), the Zimbabwe Stock Exchange-listed crocodile farmer, says it has completed construction on a further 470-kilowatt extension to its solar project in Kariba, which was initially commissioned last year. The company last year commissioned the first 330 kilowatts peak phase solar array in Kariba, which it says is now feeding into the…

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Zim outlook uncertain: IMF

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© ZIMBABWE’s outlook for 2019 remains very uncertain as policy slippages by vested interests could block ongoing efforts to restore the economy, the International Monetary Fund (IMF) has said. The southern African country’s shrinking economy has been worsened by renewed fiscal and monetary pressures as well as the effects of Cyclone Idai. [GoogleAd] The global…

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