HARARE – Zimbabwe Stock Exchange-listed gold producer, Falcon Gold (Falgold), has narrowed its losses to $1,68 million in the half year to March 31, 2018 compared to $2,4 million in the same period last year. However, the gold miner remains concerned over the current high tax regime that has left many miners struggling to survive….
HARARE – Struggling sugar producer Starafricacorporation (Starafrica) is eyeing a return to profitability in the near future after reducing its losses by more $2 million. The group’s chairperson Joel Mutizwa said given the positive macro-economic outlook anticipated in the post-election era, the company is poised to deliver improved performance in the 2018 financial year. “The…
HARARE – State-owned integrated telecommunications firm, TelOne, revenues increased to $117 million last year driven by growth in broadband income. According to the company’s financial results for 2017, total revenues jumped by three percent from $14 million in 2016 despite a decline in voice revenue. TelOne chairperson Juliet Machoba said the company expects broadband revenue…
HARARE – South Africa-registered platinum group metals (PGMs) producer Lonmin Plc (Lonmin) is disposing its 50 percent stake in Zimbabwe’s Petrozim Line (Private) Limited (Petrozim) for $14,8 million. Lonmin — listed on both the London and Johannesburg stock exchanges — announced the deal last Friday, saying it was part of strategies to focus on core…
HARARE – The Econet Victoria Falls Marathon is not just about sport, health and fitness. But it has everything to do with other sectors of the economy that benefit from the annual event. Indeed, Victoria Falls town and all the travel and tourism activities surrounding it always come alive whenever the rapidly growing international event…
HARARE – The Common Markets for Eastern and Southern Africa (Comesa) says there is need for Zimbabwe to implement policies that empower women. The regional bloc’s director for gender and social services Beatrice Hamusonde this week said the recent launch of the long-awaited Women Microfinance Bank, with many products and linkages that will enhance economic…
HARARE – Chinese firm Anjin Investments (Private) Limited (Anjin) has lost a Constitutional Court application in which it sought the nullification of a 2016 government directive expelling it from the diamond-rich Chiadzwa fields. This comes after Anjin filed the application, seeking the directive to be declared void and an order directing the police to cease…
HARARE – Struggling low cost carrier Fastjet, which operates 92 flights per week in Zimbabwe, is on the verge of collapse and has sent an SOS for new funding from its major shareholders in a last ditch effort to save the company. This comes as the African budget airline’s shares tumbled by 70 percent on…
HARARE – Original owner of Arlington Estate, Portland Holdings (Private) Limited, now PPC Zimbabwe, has written a letter to the Local Government ministry demanding a reversal of the acquisition of the property, which had been allocated to several residents. The residents have since been elbowed out by government amid claims that the land was reserved…
HARARE – Zimbabwe’s largest sugar producer, Tongaat Hulett (Tongaat), reported a 27 percent jump in operating profit in the year to March 31, 2018 from $13,4 million to $17 million buoyed by continued growth on the local market. The sugar producer’s company secretary Bigboy Shava yesterday said the local market growth was a direct result…
