HARARE – The Zimbabwe Stock Exchange (ZSE) defied the edgy election mood last week, ending the session with the mainstream All Share Index soaring 2,75 percent to 117,29 points while the Industrials added 2,84 percent to 394,35 points which was 2,06 points shy of the year high of 396,41 points. Equities research firm EFE Securities…
HARARE – The Insurance and Pension Commission (Ipec) has called on the local insurance industry to embrace blockchain technology as a way of improving service delivery. A blockchain is a distributed digital ledger that maintains a continuously-growing list of data blocks, each containing batches of transactions that are secure from tampering and revision. Blockchain technology…
HARARE – The Postal and Telecommunications Regulatory Authority (Potraz) yesterday unveiled a base station in Maitengwe, Matabeleland South, in a development that will see people living in the border area being connected to local mobile network operators. People in Maitengwe have been relying mainly on Botswana mobile telecommunications networks due to lack of enabling telecommunications…
HARARE – China Railways Limited (China Railways) top officials arrived in Zimbabwe on Thursday to finalise a $2,5 billion railway deal with Zimbabwe. The delegation is led by vice president and senior engineer Shao Gang. Local partners for the project — Global Power Bridge International — are led by Knowledge Kadzura. The parties are expected…
HARARE – Zimbabwe’s tobacco sales have reached a record high of 237,1 million kg with a week to go before the selling season ends, official data showed on Friday, raising hopes the second biggest export could help ease the country’s severe dollar shortage. Growing demand from China, the world’s biggest smoking nation, and funding from…
HARARE – The Insurance and Pensions Commission is targeting insurance penetration to reach seven percent by 2022 compared to the current 4,7 percent on the back of an anticipated economic growth. Zimbabwe remains in top five in the region in terms of insurance penetration. Paul Nyakazeya interviewed Glenrand MIB Zimbabwe chief executive officer Takura Dzimwasha…
HARARE – The Zimbabwe Power Company (ZPC) is engulfed in a $20 million legal-payment row amid revelations that the Zesa Holdings subsidiary might have flouted procurement regulations by awarding such a hefty contract to Harare lawyer Sheila Mugugu without going to tender. In recent months, the energy firm has been under the spotlight for a…
JOHANNESBURG – The South African presidency is planning to release a framework document within two weeks, which will outline in greater detail how the government plans to raise $100 billion over five years. Trudi Makhaya, economic adviser to President Cyril Ramaphosa, told City Press during an interview on the sidelines of the Government Technical Advisory…
HARARE – Southern Africa is one of the regions with unequal incomes in the world, with Zimbabwe ranked among the lowest in the region, a report released by the African Union (AU) and the Organisation for Economic Cooperation and Development (OECD) Centre has revealed. Africa’s Development Dynamics 2018, which was released week at AU’s headquarters…
HARARE – Zimbabwe Stock Exchange listed conglomerate, Meikles Limited, says pretax profits for the year ended March 31, 2018 grew by 225 percent to $19,2 million, from $5,9 million during the prior comparable period in 2017. Revenue increase to $534,9 million during the review period, from $457,6 million the previous year, on strong performances from…
