World
Bikita Minerals Scales Back Operations: Wake-Up Call for Government to Rethink Lithium Policies
Bikita Minerals has made the strategic decision to reduce its contractor base as it scales back output in response to challenging lithium market conditions. The DMS plant is set to be shut down in Oct
Oct 08, 2024
Companies
African Sun Limited's HY Results: Losses Widen, but Real Estate Shows Promise
Largest hotelier group, African Sun Limited's (ASUN), real estate market performed well during the first half of 2024 (1HY), with its contribution increasing from 2% to 6% and generating an additional
Oct 08, 2024
Companies
RTG Surpasses 50% Occupancy, for the First Time Following Major Refurbishments
Rainbow Tourism Group (RTG), the second-largest hotel group after African Sun, has achieved a remarkable occupancy rate of over 50% in the six months ended 30 June 2024. This marks a historic milest
Oct 02, 2024
Companies
Unifreight Expands Cross-Border Operations, Introduces 4PL SBU to Boost Efficiency
Unifreight Africa Limited is strategically diversifying its operations to mitigate the challenges posed by rising operating costs, which surged by 12% in the first half of 2024. This increase, driven
Oct 01, 2024
Zimbabwe
Zimbabwe Limits Forex Withdrawals Abroad to US$2k: What it Means, Implications
The Reserve Bank has taken decisive action to curb capital flight and stabilize the formal economy by reducing the amount of foreign currency individuals can take out of the country from US$10,000 to
Sep 30, 2024
Zimbabwe
RBZ Raises Policy Rate, Reserve Requirements: Implications for Banks, Businesses, Consumers
The Reserve Bank of Zimbabwe has raised the bank policy rate from 20% in April this year to 35%, according to the latest Monetary Policy Statement released last Friday. Standard and statutory reserve
Sep 30, 2024
Companies
First Mutual's Flagship Arundel Project Nears Completion: Occupancy Hits 89% Despite US$60.5 Million HY Loss
First Mutual Properties (FMP) is set to complete its flagship project, Arundel Office Park extension, whose scope involves building a double-storey office block with a basement, providing a lettable a
Sep 25, 2024
Zimbabwe
Retailers Urge Government to Abandon Pegged Exchange Rate: Will Government Heed?
The Retailers Association of Zimbabwe (RAZ) has urged the government to abandon the pegged exchange rate system in favor of a market-determined exchange rate, believing this shift could revitalize the
Sep 24, 2024
Companies
Dual Challenge, Single Solution: Old Mutual Launches US$100 Million Renewable Energy Fund
As Zimbabwe grapples with an ongoing energy crisis, Old Mutual Zimbabwe has announced the launch of a US$100 million private equity fund aimed at renewable energy investments. With the country strivi
Sep 24, 2024
Zimbabwe
Zim's Licensing Burden: Over 25 Licenses, Permits Required to Operate One Supermarket
Operating a single supermarket in Zimbabwe requires over 25 licenses and permits, making it challenging for businesses to operate. This is despite the mantra, Zimbabwe is open for business. These li
Sep 24, 2024
Top Stories
Small-Scale Miners Spur Gold Production with 70.2% Surge As Large-Scale Contributions Down 21.6% in January
Gold deliveries in January 2025 saw a significant uptick, rising by 29.2% to 3.1 tonnes compared to 2.4 tonnes in the same period last year, according to the latest data from Fidelity. However, this i
Feb 12, 2025Zimbabwe's Horticulture Sector Slams Increase in Export Surrender Threshold as 'Unfair and Counterproductive’
The Horticulture Development Council (HDC) has strongly criticized the Reserve Bank of Zimbabwe’s (RBZ) recent decision to reduce export retention thresholds from 75% to 70%, as outlined in its Moneta
Feb 11, 2025