HARARE – Retailer OK Zimbabwe says it will this month add a new store in Harare to bring the company’s total operating stores to 63. Alex Siyavora, the group’s chief executive believes the new outlet located in the southern part of the capital’s central business district, Glen View, is in a good location that has…
HARARE – Gold producer, Metallon Corporation (Metallon)’s Shamva Gold Mine is to lose cars at an auction on August 8, according to a notice released by the firm that is conducting the auction released on Wednesday. Bindura-based Miracle Auctioneers said the sale of the gold miner’s assets was with regards to a case between the…
HARARE – Share volumes traded on the Zimbabwe Stock Exchange (ZSE) went down 24,5 percent in the month of May to 129,1 million from the 170,8 million that exchanged hands prior comparable period, official data shows. In its May report, the central bank highlighted that while the bourse’s market capitalisation had surged 140,4 percent to…
HARARE – ZIMPLATS — Zimbabwe’s largest platinum producer — recorded a 23 percent increase in profit to $37,1 million in the quarter to June 2018 from $30,3 million recorded prior comparative period, the group said. This was, however, a 42 percent decrease compared to the $64,5 million recorded in the quarter to March 31, 2018….
HARARE – Zimbabwe’s exports to the Common Market for East and Southern Africa (Comesa) last year declined to $83 million from $86 million in 2016. Zimbabwe’s top exports are sugar, which constitutes 15 percent of the exports, fish at eight percent and tobacco four percent. In 2017, 69 percent of Zimbabwe’s exports to the Comesa…
HARARE – The Zimbabwe Agricultural Society (Zas) is expanding its mandate to include meetings, incentives, conventions and events (MICE), as the organisation transforms itself to play a part in turning around the country’s economy. Anxious Masuka, the Society’s chief executive, told the Financial Gazette last week that agricultural societies the world over are transforming from…
HARARE – The value of mobile transactions processed through the National Payment System (NPS) declined by 0,2 percent to $2,97 billion during the week ending July 13, 2018 from $2,98 billion the previous week, the Reserve Bank of Zimbabwe (RBZ) has said This is despite an increase in Real Time Gross Settlement (RTGS) transactions which…
HARARE – National flag carrier, Air Zimbabwe (AirZim), buffeted by high operating costs, old aircraft and intense competition, faces new headwinds on its lucrative Harare-Victoria Falls routes as budget carrier, Fastjet, has launched a service with rock-bottom fares. With the low-cost carrier increasing its flights between Harare and Victoria Falls by two additional frequencies from…
HARARE – Zimbabwe Stock Exchange-listed supermarket chain, OK Zimbabwe, says it has shut down two of its loss making units in Harare in an effort to preserve shareholder value. “The loss making OK Wynne Street and OK Cameron were closed during the year as the group continued to rationalise its operations to improve efficiencies,” OK…
HARARE – Zimbabwe’s largest beverage maker, Delta Corporation reported a 41 percent increase in revenue for quarter ended June 30 after strong performance in lager beer while volumes increased 33 percent. Pearson Gowero, the company’s chief executive, told shareholders at Delta’s annual general meeting on Friday that lager beer volumes increased 56 percent while revenue…
