HARARE – Industries in the second city are still battling to survive despite pledges by President Emmerson Mnangagwa to breathe life into what was once the hub of the country’s economy. Ahead of the harmonised elections last year, Mnangagwa told Zanu PF supporters at White City Stadium in June last year that under his leadership,…
HARARE – Delta Corporation says its acquisition of a controlling stake in Lusaka Stock Exchange-listed National Breweries PLC (Natbrew) in December last year was approved by all the relevant regulatory bodies. Zimbabwe’s largest beverages producer acquired a 70 percent stake in Zambia’s Natbrew Plc-a wholly-owned subsidiary of AnheuserBusch InBev SA/NV (AB InBev). “This cross-border investment…
HARARE – Delta Corporation says acute foreign currency shortages in the country have led to disruptions in business operations, leading to a 66 percent decrease in soft drinks volumes during its strongest period that covers Christmas. In its latest trading update, the Zimbabwe Stock Exchange (ZSE) largest company by market capitalisation said it is concerned…
HARARE – The Zimbabwe Stock Exchange (ZSE) swung back into the black in the mid-week session after its top ten index put on a marginal 0,07 percent to close at 140,96 points, following a weak start to the second week of 2019. After opening the new year in losses as three of the benchmark indices…
HARARE – Lafarge Cement Zimbabwe Limited last week appointed a new chief executive officer (CEO), after the former one left to pursue personal interests after five years of service. The newly-appointed CEO, Kaziwe Siame Kaulule, is a Zambian national who joins Lafarge Cement Zimbabwe Limited from LafargeHolcim in London, UK where he worked as general…
HARARE – Loans and advances in the microfinance sector increased nine percent from $272,95 million in March 2018, to close June at $297,52, the Reserve Bank of Zimbabwe (RBZ) said. In its report for the quarter to June 2018, the central bank said total assets for the sector grew by 14,38 percent from $360,46 million…
HARARE – Meikles Limited (Meikles) has taken legal overtures in relation to a recent auction of its assets valued at about $1,5 million by a creditor. Thabani Mpofu, Meikles’ company secretary, yesterday said Core Solutions last December auctioned off assets relating to Meikles’ investments in Tanganda Tea Company and Meikles Hospitality. “Core Solutions proceeded to…
HARARE – Willdale has expressed concern over recent government policy changes, which have been largely blamed for worsening the country’s deteriorating economic situation. Government implemented a number of abrupt reforms, shortly after the controversial July harmonised elections, headlined by the introduction of a two percent tax on electronic funds transfer as well as the separation…
HARARE – The cash-strapped National Railways of Zimbabwe (NRZ) has said it is projecting to move more than 4,2 million tonnes of freight this year alone. This will be an increase of 25,6 percent to the cargo it transported in the just-ended year where it moved 3 367 073 tonnes between January and December. NRZ…
HARARE – The Famine Early Warning Network System (FEWSNET) anticipates that the macroeconomic challenges will persist in Zimbabwe, until May 2019, negatively impacting on the country’s agricultural prospects. Forecasting on the economic and agricultural prospects for 2018/19 season, FEWSNET noted with concern that the start of the 2018/19 rainfall season had been delayed and rains…
