MASIMBA Holdings (Masimba) says its profits went up 68 percent to $1,177 million during the year ended December 31, 2018 compared to $698 738 recorded in previous comparable period driven by retail and commercial buildings. The construction and manufacturing firm said revenue was up 46 percent to $40,014 million from $27,451 million recorded during the…
UNITED Kingdom-based Vast Resources Plc (Vast) says it has raised £300 000 (US$393 130) through a placement and subscription of shares as it prepares for the signing of a joint venture contract at Chiadzwa. [GoogleAd] This comes as the Aim-listed diversified miner last week announced it is disposing its gold business in the country to…
NAMPAK says negotiations for the disposal of its glass business are taking longer than anticipated due to the complexities of the deal. [GoogleAd] The South Africa-based firm announced in February that it has, since December 2018, “been in exclusive negotiations with a preferred bidder in respect of the potential disposal of the Nampak Glass business,”…
PERCHED on one of the most scenic areas of the Eastern Highlands with rivers meandering through rolling green hills and spectacular waterfalls, the Nyanga National Park is rated one of Zimbabwe’s top attractions, but you would not know it from the meagre number of visitors. [GoogleAd] On a Saturday in what is meant to be…
ZIMBABWE’s budget deficit has swelled after government spending spiralled in the first two months of the year, a Treasury document showed. [GoogleAd] According to consolidated financial statements released by Treasury, government exceeded its targeted expenditure by $280,3 million in January and February. The financial statements for the month ending January 2019 indicate that total expenditure…
UNILEVER, one of the world’s leading consumer goods companies, has appointed Wellington Chimwaradze as vice president responsible for legal affairs for Africa. The trained lawyer, who has been with Unilever since September 2015, said the latest appointment is a promotion into the group’s general council. [GoogleAd] “I will be based in the Unilever Africa…
FOR autocratic leaders seeking lessons from the toppling of Sudanese President Omar al-Bashir, avoiding a currency crisis may be the key to survival. [GoogleAd] It’s the same problem that did for long-standing rulers from Angola to Zimbabwe and may yet claim Venezuela’s Nicolas Maduro. Al-Bashir, who the military ousted on Thursday to end 30 years…
DATA from Statistics South Africa yesterday painted a picture of the gold-mining sector on its knees, with output in the industry recording its longest streak of contraction in a decade in February. [GoogleAd] The statistics agency said gold output plunged 20,6 percent in February following a decline of 22,8 percent the previous month. The plunge…
FINANCE minister Mthuli Ncube says Zimbabwe’s economy is stabilising following the introduction of economic reforms announced under his Transitional Stabilisation Programme (TSP). Latest official figures show that total revenue for January 2019 was $487,6 million of which, tax revenue amounted to $468,2 million and non-tax revenues of $19,4 million were collected. Total expenditure for January…
BUSINESS confidence is at its lowest level this year, according to the South African Chamber of Commerce and Industry (Sacci)’s latest business confidence index. [GoogleAd] The index dropped 1,6 points to 91,8 in March, the lowest level since the start of the year. The index was 95,1 in January and 93,4 in February. The figure…
