Zimbabwe

Zimbabwe

Govt Mandates Temporary Local Currency Tax Payments to Boost Demand for Struggling Zim Dollar

The Zimbabwean government has implemented measures to address the country's ongoing financial crisis, which has resulted in the failure of the Zimbabwean dollar to serve as a reliable store of value a

Jun 26, 2023
World
Namibia Bans Lithium Ore Exports, Follows Zimbabwe's Lead

Namibia Bans Lithium Ore Exports, Follows Zimbabwe’s Lead Windhoek, Namibia - The Namibian government recently annonced a ban on the export of raw lithium ore and other critical minerals, saying it w

 Jun 26, 2023
World
South African Rand Falls on Global Growth Worries Due to Interest Rate Hikes

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

 Jun 23, 2023
World
Seef Contemplates Zimbabwe Hospitality REIT Launch

Seef Developments is contemplating the establishment of a Real Estate Investment Trust (REIT), setting its sights on the prospective Zimbabwean Tourism and Hospitality market, with plans to secure US$

 Jun 23, 2023
Zimbabwe
ZWL Appreciates Against US$, Prospects of Currency Stability

The local currency, ZWL, appreciated against the United States Dollar (US$) for the first time this year on the 22nd of June, 2023, on the interbank market. The local unit firmed by a staggering 1.26%

 Jun 22, 2023
Zimbabwe
Zimbabwe Dollar Trims Weekly Losses by 24% on Formal Market, Widens Premium by 31%

The embattled Zimbabwe dollar shed by 14% on the latest Auction Market held on the 20th of June 2023. Though the currency continues to register double digits decline, the latest performance was the b

 Jun 21, 2023
Zimbabwe
ZSE Loses its Status as a Safe Haven for Currency Hedge as Inflationary Pressures Worsen

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

 Jun 20, 2023
PPC Zimbabwe: Overcoming Challenges and Poised for Growth in Zimbabwe's Cement Sector

According to the update, PPC Zimbabwe's sales volumes declined by 16% compared to the same period last year due to planned kiln maintenance shutdowns in the first half of the financial year and freque

Jun 20, 2023
Bank of Namibia raises interest rates to safeguard currency peg, despite impact on consumers

Windhoek - The Bank of Namibia's decision to increase the repo rate by 50 basis points, from 7.25% to 7.75%, with immediate effect, has left many Namibian consumers struggling to survive. The repo rat

Jun 19, 2023
Rand Soars to One -Month High Amid Easing Temporary Power Failure

The South African Rand roared to 18.4 against the greenback on the 19th of May 2023, its highest in over a month. At that performance, the Rand surpassed the Zambian Kwacha, Kenyan Shilling and Nigeri

Jun 19, 2023
Corporate Action Summary

Padenga Holdings Limited issued a Cautionary Statement on the 16th of June, 2023, advising shareholders and members of the public that the Company is considering the re-organization of the affairs of

Jun 19, 2023

Gvt’s Economic Gamble: A Matter of Confidence Deficit and Fiscal Implosion

Following two months of enforcing economic measures to stabilise the local currency with the latest penalties enforced on the 14th of June targeting retailers who surge prices in Zimbabwe dollars, th

Jun 19, 2023

NRZ in Lucrative Deal?

Rail India Technical and Economic Service (RITES) recorded a 2% jump in its share price on the National Stock Exchange of India Limited (NSE) on the 16th of June, 2023, after signing an US$81.2 millio

Jun 16, 2023

RBZ’s Auction Allotments Hit US$4 Billion, But Still Fails to Meet its Mandate

The Reserve Bank of Zimbabwe says the Foreign Exchange auction Market has allotted US$4.082 billion to companies since its inception in 2020 to May 2023.  The Foreign Exchange Auction Market was intr

Jun 16, 2023

Grain Millers Association of Zimbabwe Sweats Over Currency Volatility

The Grain Millers Association of Zimbabwe (GMAZ) has incurred over US$66 million in exchange losses due to the rapid depreciation of the local currency.  GMAZ accounts for 95% of the national supply

Jun 16, 2023

PPC Releases Trading Update, Projects Drop in Earnings

Trading conditions remained difficult in South Africa, PPC’s largest market, with cement volumes down 5.8% although selling prices rose 8%. The smaller materials business suffered an EBITDA loss of R6

Jun 16, 2023

RBZ releases report on foreign exchange auction allotments and payments for May 2023

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

Jun 16, 2023

South African Rand Surge Ahead of Fed Decision

OPEC+ has Made a decision to maintain production levels at current levels despite widening supply gaps in the market. The decision comes at a time China is expected to see spikes in demand as the late

Jun 15, 2023

ZSE Plunges as Investors Panic

On Tuesday, the 13th of June, the Zimbabwe Stock Exchange (ZSE) halted a bull-run that had stretched to 22 consecutive sessions under which the market garnered 208% nominal gains. The mainstream ZSE A

Jun 14, 2023