HARARE – The Zimbabwe Stock Exchange (ZSE) is expecting the revised listing requirements to be gazetted soon after they were approved by the Securities and Exchange Commission of Zimbabwe early this year. Alban Chirume, ZSE’s chief executive, said the revision of the listing requirements, which has been on the drawing board for the past few…
HARARE – Zimbabwe’s financial services now prefer lending to individuals in favour of risky corporate borrowers, the African Development Bank (AfDB) has said. In its March 2015 Monthly Report on Zimbabwe, the regional banking group said individuals continued to borrow more than productive sectors of the economy, partly because banks prefer extending credit to individuals….
HARARE – AIM-listed Africa-focused resources group, Mwana Africa Plc (Mwana), has appointed Yat Hoi Ning as its interim chairman. Ning, who takes over from Stuart Morris who retired last week Friday, will – with immediate effect – fulfil this role until a new chairman has been appointed. Ning joined the Mwana Board in June 2012…
HARARE – Zimbabwe’s largest beverages maker, Delta Corporation (Delta), will on Wednesday this week reward its shareholders with a final dividend of $28,4 million. This will bring the total dividend for the year to March 2015 to $45,1 million, which is three percent above the $43,7 million disbursed in 2014. The Zimbabwe Stock Exchange-listed blue-chip…
HARARE – Hard–hit Zimbabwe government collected a total of $1,65 million from value added tax (VAT) on non-resident tourist accommodation in the four months to April this year, a top official has revealed. Willard Manungo, Finance ministry’s permanent secretary, on Monday told Parliament that government was aware of implications surrounding the VAT introduction and this…
HARARE – Sugar producer, Tongaat Hulett Zimbabwe (Tongaat), says its domestic market sales for the year to March 2015 surged 109 percent to 309 000 tonnes from 148 000 tonnes in 2014 due to the introduction of a 10 percent import duty on sugar early this year. “There was significant improvement in local market sales…
HARARE – The Zimbabwe Stock Exchange (ZSE) is eyeing at least three new listings before the end of 2015 in an effort to end a three-year listing drought. Alban Chirume, ZSE’s chief executive said the local bourse has been working hard since 2013 to grow, exchange and meet international standards. “Getting new listings does take…
HARARE – Listed financial services group First Mutual Holdings Limited (FMHL)’s operating profit surged by 1 090 percent to over $1 million in the first four months to April 2015 due to cost cutting measures and rationalisation of branches. Douglas Hoto, FMHL’s chief executive said the positive growth trajectory came on the backdrop of declining…
HARARE – Zimbabwe must stop mortgaging minerals to secure loans but must negotiate deals more shrewdly to preserve future generations from bad decisions, a renowned Ghanaian economist said. Douglas Boateng, Africa’s first ever extraordinary professor in supply and value chain management, told an Institute of Directors Zimbabwe (IoDZ) awards ceremony recently that government was compromising…
HARARE – Mashonaland Holdings (Masholdings) says its property occupancies slumped by six percentage points to 79 percent in the half year to March 31, 2015, on the back of declining economic conditions in Zimbabwe. Manfred Mahari, Mash Holdings chief executive, said the listed property firm’s collection rate for the period was 74 percent from 78…
