Companies

Companies

General Beltings Holdings Reports Significant Loss in FY23 as Volumes Decline

General Beltings Holdings, a manufacturer and distributor of conveyor beltings, rubber, and chemical products, experienced a significant decline in profitability in the fiscal year 2023. The company r

May 09, 2024
Companies
Elevating the Banking Experience: AFC Bank Partners Intellect Global Consumer Banking

AFC Commercial Bank, one of the leading Commercial banks in Zimbabwe, has partnered with Intellect Global Consumer Banking (IGCB) to modernize its banking operations by implementing an Intellect Digit

 May 07, 2024
Companies
Fidelity Life Crosses 100 Billion in Net Profit

Fidelity Life, a diversified assurance company, achieved a significant milestone by surpassing ZWL 100 billion in net profit for the first time. During the 12-month period ended 31 December 2023, net

 May 06, 2024
Companies
CBZ Suffers Doubled Monetary Loss in FY23, No Relief in Sight for New Fiscal Year

CBZ Holdings, a blue-chip company listed on the Zimbabwe Stock Exchange and known for its flagship asset, CBZ Bank, has experienced a substantial increase in monetary losses for the fiscal year ended

 May 06, 2024
Companies
ZECO, Perennial Loss-Maker, Narrows Annual Loss by 84%

ZECO, a company owned by flamboyant businessman Philip Chiyangwa, has significantly reduced its annual losses for the full year ended 31 December 2023 by 84%, with a loss of ZWL3 billion compared to

 May 05, 2024
Companies
Kingdom’s Demise Darkens ASUN's Bottom Line: FY23 Ends in Disarray

After the closure of the renowned Kingdom Hotel in Victoria Falls, African Sun (ASUN), the leading hotel group, experienced a period of below-average performance. The loss of the 294-roomed Kingdom Ho

 May 04, 2024
Companies
Zimplats Reports Stable Growth, Profitability Hangs in Balance

ts Holdings Limited, the largest corporate entity in Zimbabwe, has reported stable quarter-on-quarter growth during the third quarter ended in March 2024. On a year-on-year basis, mining and milled vo

 May 04, 2024
Zimplow Seals Barzem Takeover, Bolsters Market Dominance

Zimplow Holdings Limited, a leading manufacturer of agricultural products, has successfully completed a takeover of Barzem, acquiring 49% of the company's shares and making it a wholly owned subsidiar

May 02, 2024
Zimbabwe Stock Exchange Declares Dividend: A Blend of US Dollars and Zimbabwe Gold

The Zimbabwe Stock Exchange (ZSE) has declared a final dividend from the Company's profits for the full year ended 31 December 2023. This significant development reflects the ZSE's commitment to rewa

Apr 26, 2024
A Step Towards Sustainability: RTG’s Solar Investment Powers Kadoma Hotel

Kadoma Hotel, owned by Rainbow Tourism Group (RTG), has successfully harnessed the power of solar energy through its green investment. The installation of a 300KVa solar plant has enabled the hotel to

Apr 26, 2024
Prospect Lithium Pursues Lithium Sulphate Plant Amidst Global Downturn

In light of a significant 33% decline in lithium prices compared to the previous year, many companies in Zimbabwe and the surrounding region have curtailed their production activities as a means to o

Apr 25, 2024

CBZ Holdings Appoints Lawrence Nyazema as Group CEO

CBZ Holdings, a ZSE listed financial giant has announced the appointment of Lawrence Nyazema as the new Group Chief Executive Officer, effective from April 19th 2024. The bank circulated this news on

Apr 24, 2024

WestProp's Billion-Dollar Marvels: Pomona City, The Hills set to Reshape the Future

estProp Holdings, a leading real estate company in Zimbabwe, has achieved a significant milestone, surpassing a net profit of over US$50 million for the full year ended 31 December 2023 to US$50.28 mi

Apr 24, 2024

First Capital's Loan Base on Brink of $100 Million in FY23

irst Capital Bank has concluded its fiscal year 2023 on a positive note, achieving remarkable profitability and a substantial increase in loans and advances, which are integral to the banking industry

Apr 23, 2024

Corporate Action Summary

The Board of Directors of First Capital Bank declared a final dividend of US$ 0.22 cents per share for the period ended 31 December 2023. The dividend will be paid on or about the 10th of May, 2024, t

Apr 22, 2024

Building in Troubled Waters: Masimba Predicts Unstable Outlook

The construction industry is facing significant challenges, according to Masimba Holdings Limited, a leading construction company. In its latest financial results for the full year ended December 31,

Apr 18, 2024

Innbucks Microbank Electrifies New Products: Nano Loans, Loyalty Programs, and More

Innbucks Microbank, a prominent microfinance institution, has unveiled its ambitious plans to expand its product offerings and drive growth in the second half of the 2024 financial year. With a strong

Apr 16, 2024

Padenga Raises the Bar: Sets Audacious Gold Production Target

Padenga Holdings Limited, a determined gold miner listed on the Victoria Stock Exchange, is setting a new record target amidst intense competition among the top three gold producers in Zimbabwe. After

Apr 16, 2024

Hwange Colliery’s Preemptive Action: Set to Halt Production in Next 6 Months

Hwange Colliery plans to halt underground mine production for 6 months to address coal oversupply and prevent spontaneous combustion Spontaneous combustion poses a significant risk to the company, as

Apr 15, 2024