Companies

Companies

Gvt Policies Take a Bite, Nat Foods Bites Back: Profit Surges 82%

Rising power costs and non-claimable VAT have eroded National Foods' financial gains, highlighting the devastating impact of policy inaction on businesses and low-income households. The company vows t

Sep 27, 2024
Companies
Axia Unveils Ambitious Retail Expansion Plan for FY2025

Axia Limited, Retail Expansion, New Stores, TV Sales & Home, Transerv, Zimbabwe Retail, FY2025 Growth, African Retail Market, Retail Network Expansion, Business Development.

 Sep 27, 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
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
Companies
First Mutual Reports Half-Year Loss of US$33.69 Million

First Mutual Holdings Limited (FMHL) concluded the first half of 2024 with a significant loss of $33.69 million, a contrast to the $56 million profit reported in the same period last year. This downt

 Sep 23, 2024
Companies
NMB Holdings Profitability Slumps, Non-Performing Loans Rise to 1.2% in H1 2024

NMB Bank's non-performing loan (NPL) ratio rose to 1.2% in the first half of 2024, up from 1.1% at the end of 2023. This increase, coupled with the recalibration of the local currency book following

 Sep 20, 2024
Companies
FBC Holdings' Income Exceeds ZWG2 Billion Despite Currency Carnage

FBC Holdings’ total income has surpassed ZWG2 billion in the half-year to June 2024 despite experiencing a currency carnage in the first quarter. The group reported ZWG2.1 billion during the period u

 Sep 19, 2024
African Sun Plans Further Asset Sales After Raising US$6.9 Million

African Sun, Zimbabwe's largest hotel group, is gearing up for a significant disposal of assets following the recent sale of two underperforming hotels for $6.9 million. This strategic move aims to op

Sep 19, 2024
Riding the Dollar Wave: TSL's US$ Revenue Climbs 83% in Q3

TSL Limited has achieved a commendable performance in the third quarter ended 31 July 2024, with group revenue rising by 13% year-over-year. This growth was largely driven by increased volumes in the

Sep 18, 2024
Proplastics Export Sales Fall to 1%

Proplastics, a leading manufacturer of PVC piping and fittings, has reported a significant decline in export sales, from 15% of total sales in 2023 to a mere 1% in the first half of 2024 primarily due

Sep 17, 2024
Pomona Commercial Centre Project Reaches Significant Milestone: 65% Complete

Mashonaland Holdings Limited, a leading property development company’s flagship Pomona Commercial Centre project is now 65% complete according to the company’s financial results for the six months to

Sep 12, 2024

Revitus REIT Sees Recovery in Short Term: Turnaround Story for New Entrants

Revitus Limited is expecting a recovery in occupancy and yield ratios specifically starting FY25 as the REIT’s refurbishment of Chester House (Harare) is at an advanced stage with final technical appr

Sep 09, 2024

CBZ Holdings’ Half-Year Profit Nearly Halves

CBZ Holdings experienced a significant contraction in net profitability during the half-year ended June 30, 2024, as total revenue income and tax liabilities escalated substantially. The group's prof

Sep 06, 2024

NTS Shifts Focus to Personal Selling After Closing Four Retail Outlets

In a strategic move to adapt to market challenges, National Tyre Service (NTS) has shifted its focus to personal selling following the closure of four retail outlets at the beginning of the financial

Sep 06, 2024

Capitalizing on Recovery: ASUN Sells Underperforming Hotels for $6.9 Million to TD Hotels & Leisure

Zimbabwe’s largest hotel group, African Sun Limited (ASUN) is disposing two of its hotels: the Great Zimbabwe Hotel, located in Masvingo, and the Beitbridge Express Hotel, situated in Beitbridge accor

Sep 04, 2024

The US Dollar Triumph: Tigere’s Revenue Collections Rise to 91% in USD in HY24

igere Property Fund has reported a notable shift in its financial landscape for the half-year ended June 30, 2024, marked by a significant increase in USD revenue collections. According to its latest

Sep 02, 2024

ZB Financials Posts Tough HY24, Manages to Maintain Profitability

ZB Financial Holdings has reported a challenging half-year ended 30 June 2024, marked by significant declines in its financial performance. The group recorded a 59% drop in after-tax profit (PAT), fa

Sep 02, 2024

First Capital Bank's Loans to Customers Surge in HY24 as NPL Ratio Improves

First Capital Bank's loans to customers in HY24 increased to ZWG1.3 billion (US$94.7 million) from ZWG1.2 billion (US$86.1 million) at the end of 2023, reflecting a growth rate of 11.2%. This positiv

Aug 30, 2024

Zimplats to Commission 35MW Solar Plant, First Phase of Ambitious 185MW Renewable Energy Project

In a significant stride towards energy security and sustainability, Zimplats, the largest corporate entity in Zimbabwe, is set to commission its groundbreaking 35MW solar power plant in the first quar

Aug 26, 2024