HARARE – Old Mutual Securities (OMSEC) has recommended five counters as top picks on the Zimbabwe Stock Exchange (ZSE) during the second quarter of the year. The counters are Axia, African Sun Limited (ASL), Art Corporation, Econet Wireless and Barlcays. Axia has three main business interests, a 50,01 percent in Distribution Group Africa their highest…
HARARE – The 2018 tobacco deliveries to the auction floors continue to increase after 21 days of marketing, with 40 million kilogrammes of tobacco going under the hammer earning Zimbabwe $112 million. Statistics from the Tobacco Industry and Marketing Board (TIMB) show that the 2018 earnings declined by 11 percent from $126 million during the…
HARARE – The government is taking delivery of 500 light and heavy-duty tractors sourced from India under a government-to-government agreement. “We will soon be taking delivery of some tractors from India that were sourced under a government-to-government agreement though I cannot disclose the figures involved. We expect the equipment to start arriving in the country…
HARARE – The cooking oil industry in Zimbabwe is banking on a boost in soya bean plantings to avert a shortage of cooking oil and stock feeds on the domestic market this year. This comes after Sakunda Private Limited provided $48,7 million, half of a $100 million loan facility to support oilseed farmers, with government…
HARARE – Zimbabwe lacks capacity to issue sovereign bonds for its Sovereign Wealth Fund (SWF) at the moment, a regional think-tank has warned, following a government announcement on launch of the fund shortly impending polls this July. Thwarting deputy Finance minister Terrence Mukupe’s claim that the country was considering issuing between $2,5 billion to $3,5…
HARARE – Zimbabwe’s Immigration Department (Immigration) yesterday deported two South African nationals for working illegally at Anglo American’s Shurugwi-based Unki platinum mine. The two — who engaged in employment without permits — were nabbed during the Department’s routine checks. According to a memo seen by the Daily News, the South Africans pleaded guilty and paid…
HARARE – Curechem Overseas (Private) Limited has launched an irrigation project in Mahusekwa, Mashonaland East Province, which is aimed at empowering poverty-stricken villagers. According to the company’s group managing director Anup Chand, the project is part of their initiative to give back to the community. “Curechem’s dream in giving back to the community is that…
HARARE – Aim-listed miner, Vast Resources Plc (Vast) says it has ramped production at its Pickstone Peerless Mine to around 40 kilogrammes (kg) a month, a move anticipated to see the group pocketing about $170 000 additional monthly income from Reserve Bank of Zimbabwe’s Export Incentive Scheme, it has emerged. Vast Resources chief executive Andrew…
HARARE – British tycoon Nicholas van Hoogstraten says Hwange Colliery Company Limited (Hwange) shareholders have begun discussions to turn around the coal producer’s fortunes. In a brief interview on Monday, van Hoogstraten said he was concerned about developments at Hwange in the past few years. “I have certainly been in discussions with the Hwange board,…
HARARE – The first batch of prepaid electricity meters imported by private firms that were recently licensed to sell the gadgets to consumers has arrived in the country, a senior government official has said. This was after the Zimbabwe Energy Regulatory Authority (Zera) in February licensed 17 private companies to sell prepaid electricity meters to…
