Zimbabwe

Zimbabwe

Zim Dollar Defies Stability Measures, Sees Biggest Crash in 12 Months

Embattled Zimbabwe dollar recorded its worst weekly performance on the 16th of May 2023 after depreciating by a record 14% against a single greenback on the RBZ-governed Auction Market. The Auction Ma

May 17, 2023
Zimbabwe
Zimbabwe Dollar, a Curse for Property Markets: First Mutual Properties

First Mutual Properties a subsidiary of First Mutual Holdings which specialises in the development and management of commercial properties says the rapid depreciation of the local currency remained a

 May 16, 2023
Zimbabwe
South African Stock Market Drops Amid Accusations of Secret Weapons Deal With Russia

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

 May 16, 2023
Zimbabwe
Trading Halted: Stock Market Comes to a Standstill on Monday

Trading was suspended because investors were trying to grab any shares they could get their hands on in response to the depreciating local currency, against the greenback.

 May 16, 2023
Zimbabwe
RBZ lifts "gold mafia" accounts freeze

In concluding, the FIU said it has directed financial institutions to unfreeze all accounts and other financial assets that had been frozen pursuant to the directive of March 31, 2023. The unfreezing

 May 16, 2023
Zimbabwe
Zimbabwe's Power Predicament Gets a Respite on Account of Hwange Unit 8 and Kariba

As we eagerly anticipate the synchronisation of Hwange Unit 8 tomorrow, which will augment the combined output from Unit 7 and 8 to 600 megawatts, the Kariba Hydro-Power Station has exponentially incr

 May 15, 2023
Zimbabwe
Zimbabwe's Power Predicament Gets a Respite: Hwange Unit 8 to Sync on Tomorrow, Augmented by Kariba a 260% Output Surge, but the Relief is Fleeting!

As we eagerly anticipate the synchronisation of Hwange Unit 8 tomorrow, which will augment the combined output from Unit 7 and 8 to 600 megawatts, the Kariba Hydro-Power Station has exponentially incr

 May 15, 2023
Corporate Action Summary

Old Mutual Investment Group Zimbabwe (Ltd), the Fund manager for the Old Mutual ZSE Top Ten Exchange Traded Fund, declared a dividend of USc0.008436 per unit on the 28th of April 2023, and is payable

May 15, 2023
Vast Resources Buys More Time to Settle Debt and Historic Claims

The debt owed to Mercuria and Alpha, totalling approximately £7.3m, was due to be repaid on or before Monday 15 May 2023, but the company is working on documentation of an extension until 30 June 2023

May 15, 2023
Standard Chartered's Warning: South Africa's Fossil Fuel Shift and Zimbabwe's Energy Future

The shift away from fossil fuels is a global trend that is being driven by a range of environmental and economic factors. For countries like South Africa and Zimbabwe, which are heavily reliant on fos

May 15, 2023
From Loss to Profit: Dallaglio Anchors Padenga Holdings’ Solid Performance

After recording a loss in full-year 2021, the Victoria Falls Stock Exchange (VFEX)- listed diversified Group, Padenga Holdings has recorded a solid financial muscle during the full year ended 31 Decem

May 12, 2023

Voodoo Economics: Ncube Stabs Local Producers on the Back

Finance and Economic Development Minister, Professor Mthuli Ncube has thrown the local producers under the bus after scrapping duty on the imports of all basic commodities. The latest measure will def

May 12, 2023

Delta Corporation Posts Impressive 60% Increase in Revenue, Delivering Sparkling FY’23 Results Despite Economic Headwinds

Delta Corporation announced sparkling results, overcoming macroeconomic headwinds in Zimbabwe and supply chain constraints to post a 12% increase in beverage volume. Lager beer volume in Zimbabwe swel

May 12, 2023

Taxation, Interest Expenses Narrows Afdis FY Earnings

The Zimbabwe Stock Exchange (ZSE)- listed wine and spirit maker, African Distillers’(Afdis) has recorded a surge in tax expenses and taxation to government parastatals during the full year ended 31 Ma

May 12, 2023

The Struggle of Zimbabwe's Economy: Fighting for Currency Survival and Basic Needs

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

May 12, 2023

Elections Update: Elections to Proceed as Court Throws Mwonzora's Bid under the Bus

Zimbabwe’s harmonised elections set for 2023 will proceed after the High Court nullified Douglas Mwonzora’s bid to nullify the delimitation report released by ZEC in February this year.  Delimitation

May 11, 2023

First Capital Bank seeks to sweat assets by targeting public service

The promotion is just one of a range of activities that First Capital Bank is offering to unlock value in the new term. In 2022, the Bank invested heavily in revamping its digital platforms, and custo

May 11, 2023

ZimStats Survey Reveals Agriculture, Mining, and Retail as Top Contributors to Zimbabwe's Economy

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

May 11, 2023

Takealot’s Mr D drives Pick n Pay sales

South Africa’s 2nd largest retailer Pick n Pay said its online sales volumes significantly soared after hopping onto the Mr D’s delivery app. The company achieved total online sales growth for the yea

May 11, 2023