HARARE – The Zimbabwe Stock Exchange (ZSE) last Thursday reached its highest post United States Dollar adoption, after capping the month of August on the front foot as bulls continued to drive the indices higher. With the previous highest level set on August 1, 2013 — the day after Zimbabwe’s last general election — the…
HARARE – London-listed mining firm Vast Resources says gold production at its Zimbabwean unit went up by 36 percent to 4 037 ounces in the second quarter to June 2017. Vast Resources owns Pickstone-Peerless gold mine in Zimbabwe and the company has plans to ramp up production. “ . . . mining, processing and production…
HARARE – Zimbabwean banks are phasing out paper-based Real Time Gross Settlement (RTGS) transactions, with Standard Chartered (Stanchart) being the latest in announcing the move. This comes as banks have recorded a massive surge in RTGS transactions due to the deepening cash crisis. Some of the banks which have migrated from paper-based RTGSs to processing…
HARARE – Stanbic Bank Zimbabwe, a subsidiary of Standard Bank Group of South Africa, posted a $12,8 million profit for the half year to June 30, 2017, up from $10,5 million recorded in the comparable period the previous year after improved net interest income and short-term investments acquired during the reporting period. Stanbic chairperson Greg…
HARARE – Zimbabwe’s biggest coal miner, Hwange Colliery Company (HCC), has slashed prices in a bid to combat massive deforestation around the country. Prices have been slashed by eight percent from $65 to $59 per tonne. “If the country does not take steps now, we will be left with no forests considering that wood provides…
HARARE – Spirits and winemaker African Distillers Limited (Afdis) has declared a $750 807 dividend for the year ended June 2017 buoyed by increased volumes and production. Afdis chairperson, Pearson Gowero, said the firm — whose revenue surged by $2,8 million to $25 million in the year under review — had also recorded an operating…
HARARE – The total value of transactions processed through the National Payment System (NPS) decreased 33,3 percent to $1,2 billion in the week to August 18, from $1,6 billion in the previous week, as Real Time Gross Settlement (RTGS) payments slumped. Central bank data for the week under review indicates that RTGS payments were down…
HARARE – Zimbabwe recorded a trade deficit of $1,248 billion for the seven months to July 2017, as imports made up mainly of consumption goods, continued to outstrip exports. According to the Zimbabwe National Statistics Agency, the country imported goods worth $3,118 billion for the period under review, against exports of $1,870 billion. The trade…
HARARE – Stanbic Bank Zimbabwe has revamped its home loans offering in a bid to encompass both existing and prospective home owners. The bank’s acting head of personal and business banking, Patson Mahatchi, said the Standard Bank subsidiary has increased its home equity loan offering from 30 percent up to 50 percent in a move…
HARARE – Statutory pension fund, National Social Security Authority (Nssa), is set to increase its shareholding in Starafricacorporation (Starafrica). This was after the sugar producer said it wants to offer Nssa 1 533 333 333 ordinary shares with a nominal value of $0,0001 each at a conversion price of $0,0075 per share in respect of…
