HARARE – Zimbabwe’s annual inflation rate is expected to break records this year after it rose to 4,83 percent in August, gaining 0,54 percentage points from the July rate of 4,29 percent. The figure is now 0,17 percent short of the December projection of 5,0 percent by the World Bank. The Bretton Woods institution said…
HARARE – Foreign buys on the Zimbabwe Stock Exchange (ZSE) slumped 92,63 percent on Tuesday to $28 771 from $390 337 as sales firmed 60,19 percent to $196 336 from $122 567, it has emerged. Despite this, market capitalisation stood at $12,2 billion, a 0,31 percent improvement on prior session, with three of the ZSE…
HARARE – NetOne will next month migrate to a new converged billing and business support system as part of the company’s transformation programme. The State-owned mobile telecommunications services provider embarked on a turnaround strategy two years ago aimed at bringing the company to profitability. Nkosinathi Ncube, NetOne’s acting chief executive, yesterday said work to migrate…
HARARE – Cafca says its earnings for the current trading year will be significantly higher compared to last year. In a statement issued yesterday, the company said its earnings per share (EPS) and headline earnings per share for the year ended September 30, 2018 will be approximately 10,5 cents per share which is above the…
HARARE – Zimbabwe’s funeral service industry says government should make policy premiums qualify for tax credit in an effort to increase the uptake of funeral cover by the public. Solomon Chikanda, the Zimbabwe Association of Funeral Assurers (Zafa) president, said there is need for government to support the uptake of funeral policies. “In an effort…
HARARE – Edgars Stores Zimbabwe (Edgars) yesterday announced a 235 percent increase in profit after tax for the six months ended July 8, 2018, driven by sales growth. The company reported a profit after tax of $1,9 million, representing a significant increase from a profit of $567 499 reported for the comparable period in 2017….
HARARE – About $30 million is lying idle in unclaimed pensions as close to 50 000 pensioners have not been collecting their monthly pension pay-outs, an Insurance and Pensions Commission (Ipec) official has said. Ipec public relations officer Lloyd Gumbo last week said the insurance sector regulator was now working on publishing a list of…
HARARE – Transactions processed through the National Payment System hit $3,16 billion for the week ending August 31, due to an increase in Real Time Gross Settlement, latest data show. According to the Reserve Bank of Zimbabwe (RBZ), the value of transactions processed through the RTGS system increased by 16,1 percent, to close the week…
HARARE – Masimba Holdings one of Zimbabwe’s leading construction company, is targeting to become a $100 million business in the short-to-medium-term buoyed by increased sector activity. Canada Malunga, the group’s chief executive, said prospects of the industry are bright and the company has a firm order book spanning to 2019. “The growth trajectory we started…
HARARE – Zimbabwe is set to introduce a raft of measures aimed at improving the country’s pension industry in line with international standards in the next few month, the sector’s regulator has said. This comes as the country’s pension industry is in dire straits emanating from low confidence after the multiple-currency system in 2009 saw…
