HARARE – Toronto Stock Exchange-listed Caledonia Mining Corporation (Caledonia) has declared a $0,015 dividend per share for its first quarter to December 2013. This comes as the southern Africa-focused miner recently announced that it would be declaring dividends on a quarterly basis. Caledonia’s primary asset is Gwanda-based gold miner, Blanket Mine, in which it holds…
HARARE – Foreign investors’ fears and discomforts will not subside despite government’s move to clarify its indigenisation policy, listed ZB Financial Holdings Limited ZBFH) says. While presenting the 2014 National Budget, Finance minister Patrick Chinamasa went out of his way to explain how the empowerment policy would be implemented and insisted that there was not…
HARARE – Australia-based miner TPL Corporation (TPL) has been granted approval by the Zimbabwe Investment Authority (Zia) to acquire a 70 percent stake in African Chrome Fields Limited (ACFL). ACFL owns high-grade alluvial chrome deposits and a defunct processing plant located along the mineral-rich Great Dyke in Zimbabwe. TPL intends to restart ACFL’s processing plant…
HARARE – Government is soon expected to announce two winning bids of the 100 megawatts (MW) solar projects tender aimed at improving power supply in the country, businessdaily has established. The winners were due to be announced in July 2013 by the then Energy minister Elton Mangoma but the pronouncement was later postponed. The tender…
HARARE – The African Development Bank (AfDB) is set to commission a $1,5 million Zimbabwe national transport master plan study aimed at providing the framework for the sustainable development of the transport sector to stimulate economic growth and reduce poverty. The study — to be implemented over a 28-month period — is expected to be…
HARARE – Steward Bank (Steward) is closing some of its outlets under a “branch consolidation exercise”. The financial institution — currently with 20 branches — has already shut four units and one more this January but could not project how many more would be closed. It said it is in talks with Lifestyle Holdings (Lifestyle),…
HARARE – Government’s decision to recapitalise the Reserve Bank of Zimbabwe (RBZ) and restore its lender-of-last-resort position will help ease liquidity constraints in the country, economic experts have said. They said the move may also reinstate confidence in the financial services sector. Zimbabwe has been experiencing tightening liquidity conditions since 2009 when the country adopted…
HARARE – The Zimbabwe Stock Exchange (ZSE)’s main industrial index ? which opened 2014 in the red — is expected to continue on the downward trend in the short-term due to absence of policy direction and limited foreign investor participation, TFS Management Company (TFS) has warned. The research and asset management firm, a subsidiary of…
HARARE – Building materials maker, PG Industries Zimbabwe (PG), is set to meet its creditors to craft a scheme of arrangement as part of efforts to relieve its debt burden. The meeting — scheduled for January 24 — will among other things, allow creditors to either take ordinary shares in the group or accept a…
HARARE – Mobile telecommunications group Econet Wireless Zimbabwe (Econet) and beverages maker Delta Corporation (Delta) capped 2013 with a fine performance buoyed by innovations at a time most companies in the country are struggling to stay afloat. Econet — the country’s largest mobile network operator by subscriber base ? said traditional voice revenues were maturing…
