HARARE – Zimbabwe Stock Exchange listed construction concern PG Industries Limited (PGI) has recorded a net loss of $2,7 million for the six months to June, attributed to working capital constraints, low retail sales volumes and high interest burden. Once regarded as one of Zimbabwe’s major construction hardware players, PGI has struggled to make an…
HARARE – South Africa’s largest food and consumer products company, Tiger Brands Limited (Tiger Brands) has acquired a 63 percent stake in Nigerian Dangote Flour Mills (DFM), as the company pursues organic growth. The Johannesburg Stock Exchange-listed company, with direct and indirect interests in international food businesses in Cameroon, Chile, Kenya and Zimbabwe, said Nigerian…
HARARE – Zimbabwe’s plans to set a secondary bourse that will trade in shares held by the indigenisation fund have been questioned, with analysts saying it was illogical at a time the country faces liquidity challenges. Indigenisation minister Saviour Kasukuwere recently announced government is planning to set up a second stock market adding to the…
HARARE – Mobile operator, Econet Wireless Zimbabwe (Econet), whose subscriber base hit 7,1 million, has set its sight on reaching 10 million users by the end of next year. Econet chief executive Douglas Mboweni thanked the people of Zimbabwe for their confidence in the brand as it moves towards its targeted capacity. “As you all…
HARARE – Financially-troubled Blue Ribbon Industries (Bri) is facing possible liquidation after it applied to the High Court to be placed under judicial management for an indefinite period. The company, which has a debt overhang of over $2 million, has been facing constraints due to lack of working capital. Early this year the company sent…
HARARE – Zimbabwe’s platinum mines were an example of well-run and socially aware operations where their black management operated by the book “because they are afraid of the president”, the Bench Marks Foundation’s senior researcher, David van Wyk, says. Answering questions before South African parliament’s portfolio committee on mineral resources, he said South African platinum…
HARARE – Emirates, one of the fastest growing airlines in the world, has capitalised on the gap left by Air Zimbabwe becoming one of the favourite airlines in the country the businessdaily has learnt. Emirates, which began five-times-a-week flights to Zimbabwe via Zambia in February, coinciding with the decline of Air Zimbabwe, has picked up…
HARARE – Zimbabwe is crafting a national code on corporate governance which seeks among other things to stop multiple directorships on corporates which experts say lead to conflict of interest. Currently, most companies have what industry experts claim are skewed structures which allow board members to sit on more that one company — leading to…
HARARE – Previously, we highlighted that employers face a number of challenges when hiring, which if not properly handled may result in wrong decisions. However, there are times when employers make the right calls, but after a while the chosen candidates lose momentum and fizzle out to join the ranks of the so-called non-performers eventually…
HARARE – Resurfacing of the 900-metre tar patch at Victoria Falls Bridge has begun, as preparations for the United Nations World Tourism (UNWTO) organisation general assembly gather momentum. Zimbabwe co-host the tourism mega global event with Zambia in August next year. Zimbabwe Tourism Authority (ZTA) chief executive Karikoga Kaseke in May said the tar patch…
