Business

SCHWEPPES Holdings Africa Limited has promised to release later this year its second “Sustainability Report” in which will contain full details of the company’s environmental conservation activities. [GoogleAd] According to Schweppes Holdings Africa Limited commercial and public affairs director Unaiswi Nyikadzino, the forthcoming report will be yet another proof of her company’s commitment to looking…

Apparel retailer Edgars Stores (Edgars) says it plans to take on more risk through its debtors books, which it says are now too clean after a decline in credit accounts.  [GoogleAd] In a statement accompanying the company’s financial results for the 52 weeks ended January 6, 2019, Themba Sibanda, Edgars’ chairperson last week said total active…

CAMBRIA Africa announced the appointment of Christian Herbert Beddies as the incoming chief executive officer of its wholly-owned and largest subsidiary, Payserv Zimbabwe, yesterday. [GoogleAd] The AIM-traded firm said Payserv Zimbabwe owns and operates several financial technology subsidiaries in Zimbabwe including Paynet, AutoPay, and Tradanet. Beddies would be succeeding Sibert Dube, whose resignation was tendered…

GOVERNMENT has approved amendments to the Securities and Exchange Act, which seek to align the country’s capital markets with international standards. The amendments to the Bill are also aimed at clarifying the role of the Securities and Exchange Commission of Zimbabwe (SecZim) and extend its powers on market regulation. [GoogleAd] “The amendments seek to address…

THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) used a cost-based model to come up with the latest tariffs for fixed and mobile network operators, documents show. This comes as Zimbabwe’s telecommunications firms hiked voice tariffs to a maximum of 22 cents per minute with effect from April 1, 2019 from 16 cents per…

NATIONAL power utility Zesa Holdings (Zesa) says it does not expect any load shedding for as long as it can maintain power production at its power plants across the country. The power utility filed an application for a 30 percent tariff increase in mid-March, but is yet to get a reply from Zimbabwe Energy Regulatory…

  CALEDONIA Mining Corporation (Caledonia) says it has declared a quarterly dividend of US$0,07  per share payable this month. The Toronto-listed resources outfit — presently scouting for more brown field investments in Zimbabwe to grow its asset base — released a note announcing the dividend for the quarter to December 2018 would be disbursed by…

BRAINWORKS Limited (Brainworks) says revenue went up in all its segments, with a significant growth in the hospitality segment. The diversified investment firm said its hospitality business segment recorded improved revenue, spurred by a seven percentage points increase in occupancy to 59 percent increase compared to 52 percent achieved in prior year. [GoogleAd] In a…

THE Infrastructure Development Bank of Zimbabwe (IDBZ) says its revenue for the year ended December 31, 2018 grew by 55 percent after a significant increase in interest income. The State-owned financial services institution reported revenue of $13,3 million for the period under review, progressing from income of $8,6 million in the previous comparable period. [GoogleAd]…