HARARE – The Zimbabwe Stock Exchange (ZSE) witnessed its slowest quarter of trading since dollarisation in 2009 with market value declining by 41 percent to $69,74 million in the three months to March this year from $118,67 million last year, an equities report has shown. EFE Securities (EFE), in its first quarter trading update released…
HARARE – South African companies have invested over $1,2 billion in Zimbabwe between 2003 and 2013 creating over 2 485 employment opportunities in the country, latest figures show. Jacob Zuma, South Africa’s President, last week told a South Africa-Zimbabwe business forum that there was need to strengthen economic and political ties between the two countries…
HARARE – A high level team from the European Investment Bank (EIB) is in Zimbabwe to assess the economic situation in the country, European Union (EU) Ambassador Philippe Van Damme has said. Van Damme told businessdaily yesterday that the EIB officials are scheduled to meet with Finance minister Patrick Chinamasa, the central bank governor, John…
HARARE – Tobacco farmers have so far earned $75 million from the sale of 28,4 million kilogrammes (kg) of the golden leaf since the opening of the 2015 selling season last month. Figures released by the Tobacco Industry Marketing Board (TIMB), however, show the income has declined by nine percent from $96, 8 million earned…
HARARE – Zimbabwe’s platinum earnings slumped 11 percent to $495 million last year from $554 million realised in 2013 due to depressed global platinum prices, latest Chamber of Mines (CoM) figures reveal. The report also noted that total platinum production during 2014 declined by 4,5 percent to 440 289,59 ounces from 460 854,31 ounces in…
HARARE – Zimbabwe has the capacity to turn around its $2,2 billion trade deficit with South Africa if the country starts producing more goods, economic analysts say. This comes after President Robert Mugabe on Wednesday told the media that Zimbabwe “will never” balance its trade with South Africa due to geographical and demographic differences between…
HARARE – Zimbabwe’s gold production went up by nearly 20 percent from 926,79 kg in January 2014 to 1 111,62 kg in January this year, statistics from the Africa Development Bank (AfDB) shows. In its monthly economic review for Zimbabwe, the AfDB said deliveries by primary producers increased by 3,09 percent from 784,28 kg in…
HARARE – Malawian Airlines plans to capitalise on the southern African region’s thriving tourism sector by introducing a connecting flight between Lake Malawi and Victoria Falls. Civil Aviation Authority of Zimbabwe (Caaz) board member George Manyaya said introduction of connecting flights between Victoria Falls and Lake Malawi will help increase trade between the two countries….
HARARE – Benefit Washaya has been appointed as the substantive chief executive of listed financial services group NMB Zimbabwe Holdings. Washaya, whose appointment is effective from April 1, 2015, has been running the group in an acting capacity since November last year when founder and former chief executive James Mushore resigned due to ill-health. The…
HARARE – Meikles Limited (Meikles) says it is proceeding with its $50 million lawsuit against the Zimbabwe Stock Exchange (ZSE) after talks of reconciliation between the two parties reached a deadlock. In an update to shareholders on Thursday, Meikles chairman John Moxon said the company had made efforts to interact and perhaps reconcile with the…
