HARARE – The Zimbabwe Stock Exchange (ZSE) has indefinitely prolonged the suspension of agro-industrial group, CFI Holdings’ shares from trading on the local bourse. CFI was suspended from trading in January, 2018, after the company failed to comply with listing requirements. Martin Matanda, the ZSE acting chief executive, yesterday told investors that CFI’s suspension will…
HARARE – The country’s largest beverages company, Delta Corporation Limited, has attributed the beverage shortages being experienced in the country to shortages in foreign currency. Among the products that are in short supply are fizzy drinks, maheu, as well as some of the beer brands usually found on the Zimbabwe market. A survey by the…
HARARE – The Zimbabwe Stock Exchange (ZSE) continued to slide in the wake of the political upheavals that followed the July 30 plebiscite, with the benchmark All Share Index retreating 2,11 percent settling at 111,78 points. Shedding 2,06 percent, the Industrial Index settled at 378,88 points while the Mining Index took the heaviest knock shedding…
HARARE – Among the plethora of problems that will face the new government when it is sworn in and starts work, is the urgent issue of reform of the 105 State-owned enterprises (SOEs) that are currently managed by line ministries on behalf of taxpayers who are the owners or shareholders. Few other issues will demand…
HARARE – London Stock Exchange-listed resources firm Premier African Minerals Limited (Premier) yesterday said it plans to raise close to $1 million earmarked for the resuscitation of its tungsten mine in Zimbabwe. The miner’s operations were halted towards the end of last year amid cash flow constraints It has been clear for some time that…
HARARE – United Builders Merchants (UBM) has shut down after operating in Zimbabwe for the past 50 years. According to employees who spoke to the Daily News on condition of anonymity, UBM management announced last week that the company was filing for liquidation. Last month, the company’s managing director, Michael Bones, read out an e-mail…
HARARE – Listed seed producer SeedCo Holdings has unveiled new maize varieties aimed at improving yields and reducing the impact of climate change. Morgan Nzwere, the group’s chief executive, last week said the company was unveiling new maize seed varieties meant to boost productivity within the southern African region to attain levels achieved in the…
HARARE – New York Stock Exchange-listed resources firm Caledonia Mining Corporation (Caledonia) says it has intensified efforts to strengthen safety measures at its Zimbabwean unit, Blanket Mine, after four people died in fatal accidents in the last 18 months. Steve Curtis, the Caledonia chief executive, said the fatal accidents were “not acceptable” hence the need…
HARARE – ZB Financial Holdings (ZB) recorded a 12 percent increase in total income to $38,6 million in the half year ended June 30, 2018 driven by an expansion in net income from lending activities. The group reported a 15 percent profit increase to $9,35 million compared to $8,17 million recorded in prior period. Ron…
HARARE – Zimbabwe’s national rail freight volumes are rising ever since government — with the help from the Diaspora Infrastructure Development Group and Transnet (DIDG-Transnet) — started rebuilding the National Railways of Zimbabwe (NRZ). Rail freight volumes rose by 13,5 percent year-on-year to 856 476 tonnes of cargo in the first three months from 754…
