HARARE – United Kingdom mining firm, Caledonia Mining, is among the bidders for assets the Zimbabwean government has put under the hammer. These are assets owned by State-owned mining company, Zimbabwe Mining and Development Corporation (ZMDC), which are being sold by the southern African country in an effort to cut costs. The winners of the…
HARARE – Mimosa Mining Company (Mimosa) has reported a 2,1 percent decrease in milled platinum to 702 000 tonnes in the first quarter ended September. Mimosa — which is majority owned by South African giant miner, Sibanye-Stillwater — said the decrease in milled platinum had been a direct result of planned maintenance works at the…
HARARE – Zimbabwe’s insurance industry has been urged to tread carefully when dealing with clients as a way of boosting confidence in the fragile sector. The southern African country used to have a vibrant insurance industry in the 1990s, but confidence plummeted in the aftermath of hyperinflation, which wiped out people’s life savings and is…
HARARE – Econet Wireless Zimbabwe Limited (EWZL) has announced $600 million dollars in half-year revenue to 31 August 2018, up from $ 353 million in the same period last year, on the back of a strong performance by its SmarTech business unit. The conglomerate, which is well on its way to becoming the country’s first…
HARARE – Government’s issuance register for Treasury Bills (TBs) and bonds is in shambles, which makes it difficult to detect missing or unrecorded commercial paper. This observation was made by the Auditor-General (AG) Mildred Chiri in her 2017 audited report tabled in the National Assembly last month. In her audit of the Statement of Public…
HARARE – National Foods Holdings (NatFoods) is seeking shareholder approval to embark on a share buyback in an effort to boost its share price. The agro-processing firm, which has been one of the worst performing counters on the Zimbabwe Stock Exchange (ZSE) this year, will next month hold its Annual General Meeting (AGM) to get…
HARARE – Hwange Colliery Company Limited (Hwange) has been suspended from the Zimbabwe Stock Exchange (ZSE) after the troubled coal miner was placed under administration. Last week, Justice minister Ziyambi Ziyambi — using the Reconstruction of State-Indebted Insolvent Companies Act — appointed DBF Capital co-founder, Bekithemba Moyo, to lead a team tasked to revive Hwange….
HARARE – The Zimbabwe Stock Exchange (ZSE) closed the month of October in the red as three of the broad indices closed pointing southwards. However, the resources index was the sole gainer among the benchmarks as it closed in the black after putting on 0,36 percent to end at 217,34 points. At the close of…
HARARE – Zimbabwe’s financial institutions are expected to maintain a cautious approach on lending due to a volatile operating environment that has seen electronic balances fluctuate and lose value over the past few months, a local equities research think-tank has said. IH Securities (IH) said banks, which have taken on Treasury Bills (TBs) to limit…
HARARE – Confederation of Zimbabwe Industries (CZI) has said the lift of a ban on the import of basic goods and foodstuffs must not go beyond December 21. The lift of a ban imposed on imports of many basic goods in 2016 was aimed at curbing shortages after shelves were emptied over panic buying amid…
