HARARE – Atlas Mara Co-Nvest Limited (Atlas Mara) has given minority shareholders an ultimatum to sell their shares within six weeks to the United Kingdom-based company for $0,82 per share. This comes after shareholders holding 1,3 percent (3,34 million shares) of Pan African banking group ABC Holdings in November last year declined a mandatory takeover…
HARARE – The High Court has given struggling PG Industries Zimbabwe Limited (PG) the green light to continue with its scheme of arrangement with concurrent creditors, after its last attempt to register its debt repayment plan with the court hit a snag when a major creditor raised concern over the scheme. PG, which owes various…
HARARE – Zimbabwe’s poultry industry total chick production went up by 22 percent to 78,4 million birds in 2014 from 64,4 million recorded in 2013, a latest industry report has indicated. According to Zimbabwe Poultry Association (ZPA) chairperson Solomon Zawe, the broiler industry continues to grow from strength-to-strength and set new monthly and yearly records….
HARARE – In South Africa (SA), they have got Theo Botha – the irrepressible shareholder activist – and Zimbabwe could be getting its own version in the form of businessman Chester Mhende. About two decades ago, he made his name in property development, entered politics and now he has reinvented himself as some David in…
HARARE – Zimbabwe’s economy is set to slump further this year due to continued decline in global commodity prices, fiscal challenges, and possible difficulties in policy implementation, the International Monetary Fund (IMF) has said. This comes as the Bretton Woods institution had earlier predicted that Zimbabwe’s economy would grow by 2,8 percent this year compared…
HARARE – The Zimbabwe Stock Exchange (ZSE) is expected to record negative growth this year due to political uncertainties and depressed economic activity, market experts have warned. Equities research firm Lynton-Edwards Stockbrokers (Les) this week projected the local bourse to close approximately 10 percent in the negative position at year end. “Factors that support our…
HARARE – Zimbabwe is now ready to re-join the London Bullion Market Association (LBMA) after producing more than 10 tonnes of gold annually in the past two years, Finance minister Patrick Chinamasa has said. The country has, for the past six years, been struggling to gain re-entry into the elite group of gold producers in…
HARARE – International brewing giant, SABMiller Plc, has expressed concern over the declining economic situation in Zimbabwe which saw net producer revenue (NPR) of its local unit — Delta Corporation — shrinking by five percent. In a trading update, SABMiller Plc said challenges continue to persist in Zimbabwe due to the economic environment. “Soft drinks…
HARARE – Dawn Properties (Dawn) might delist from the Zimbabwe Stock Exchange (ZSE) following an offer to acquire minority shares by major shareholder Brainworks Capital Management Limited (Brainworks). Brainworks recently acquired a 61,65 percent controlling stake in Dawn after taking over a further 18,58 percent from the 43,07 percent it already held in the firm….
HARARE – Zimbabwe must seriously venture into solar power generation for the country to address its electricity shortages and reduce load-shedding, economic experts say. This comes as the country is currently grappling with massive power shortages emanating from the generation of approximately 1 100 megawatts (MW) against national demand of at least 2 200MW as…
