CALEDONIA Mining Corporation (Caledonia) gold production was down three percent to 54,511 ounces during the full year ended December 31, 2018 compared to 56 133 ounces recorded in prior year due to lower grade. Steve Curtis, Caledonia chief executive officer said the firm — which owns 49 percent of Zimbabwean gold mining unit, Blanket Mine…
THE Zimbabwe Stock Exchange (ZSE) yesterday extended companies’ financials publication deadline for the period ending December 31, 2018 by a month due to the delay of due guidance from the Public Accountants and Auditors Board (PAAB). Following the pronouncements of the monetary policies, in October 2018 and February 2019, there has been discussion around the…
PROSPECT Resources (Prospect) says it reported a loss after tax of $4,135 million during the half year ended December 31, 2018 compared to a $2,640 million recorded in previous period. The Australia Stock Exchange-listed firm said explorations costs at its flagship Arcadia Lithium Project weighed further on the operating performance. [GoogleAd] “The loss after adjustment…
NETONE’s mobile money platform, OneMoney, recorded a 32,7 percent increase in subscribers to 241 566 in the fourth quarter to December 31, 2018 from 181 990 in the previous quarter, latest data show. OneMoney has become popular through its availability on the Zimswitch network of banks, drawing on the stringent advantages, creating ease of movement…
PETRICOZIM, a beverage industry collaborative initiative created in Zimbabwe eight years ago to address the post-consumer PET problem, has created jobs and new income opportunities in the recycling sector. [GoogleAd] The collaborative project which started as a Coca-Cola System initiative, featuring Coca-Cola Central Africa, Delta Beverages, Mutare Bottling Company and Schweppes Zimbabwe Limited, has yielded…
ZIMBABWE requires public private partnerships (PPPs) to address the country’s power infrastructure supply needs estimated at $8 billion, Energy deputy minister Magma Mudyiwa has said. [GoogleAd] This comes as infrastructure development has been identified as a key driver of progress across the African continent and a critical enabler for productivity and sustainable economic growth. It…
MASHONALAND Holdings (Mash Holdings) said revenue was up to $1,68 million during the four months to January 31, 2019, three percent below the budget, attributed to higher occupancy levels at 76 percent. Gibson Mapfidza, the property investment and development firm’s managing director said, the 47 percent increase in operating profit to $1,1 million was recorded…
THE share price of Hippo Valley Estates (Hippo Valley) has been sinking on the Zimbabwe Stock Exchange since February after the escalation of its South African parent company, Tongaat Hulett’s (Tongaat) difficulties. By end of trading last week, shares of the sugar cane growing and milling company had slumped 42,85 percent since the start of…
THE Insurance and Pensions Commission (Ipec) has embarked on a project to review the country’s insurance capital and risk framework with the view of coming up with a better model. Blessmore Kazengura, Ipec’s acting commissioner, said the name Zimbabwe Integrated Capital and Risk Project (Zicarp) project is motivated by the quest to develop a sound…
SIMBISA Brands (Simbisa) needs to channel more investment efforts towards the Kenyan market as it de-risks from Zimbabwe’s worsening macro-economic conditions, a local equity analyst group has said. IH Securities (IH) said Simbisa — whose Kenya investment started paying off last year cushioning the group against Zimbabwe’s inflation-ravaged shrinking disposable incomes — needed to invest…
