Markets

World

Stanbic Bank's Bottomline Soars by 180% for FY’22

Despite the challenging economic landscape, Stanbic Bank thrived in the 2022 financial year posting a profit of $49.9 billion in inflation-adjusted terms, up by 180% from $17.8 billion the prior year.

Apr 04, 2023
World
African Capital Markets Update: Positive Outlook Despite Contrasting Performance - Challenges Ahead

In the past week, the All-Share Index rose 7.59%, ranking the best performing stock market in Africa. The bourse registered growth on the back of a remarkable 17% surge in the Utilities sector, primar

 Apr 04, 2023
Zimbabwe
Zimbabwe and Belarus Strengthen Economic Ties Through Government and Private Sector Partnerships

The governments of Zimbabwe and Belarus have taken steps to strengthen their engagement and foster trade between their private sectors after Minister of Foreign Affairs and International Trade, Honour

 Mar 31, 2023
World
The Fall of Babylon? Aftermath of Possible Greenback’s Crush

The United States of America (USA) has for centuries managed to position its currency, United States dollar as the currency of global trade. However, the greenback is facing a multitude of headwinds f

 Mar 30, 2023
Zimbabwe
South Africa's Insurance Market in Turmoil: Reinsurance Rates Soar, Power Grid Collapse Looms

South Africa's insurance market, once considered the most developed in Africa, is facing serious challenges due to rising reinsurance rates, which are outstripping the global trend. Claims pay-outs fr

 Mar 30, 2023
World
FCB’s Non-funded Income Dominated Revenue Generation in FY22

First Capital Bank’s non-funded income dominated revenue generation for the firm in the 2022 financial year as the bank posted real growth in terms of non-funded income by 44% with the non-funded to t

 Mar 28, 2023
Zimbabwe
African Capital Markets Update:The Remerging Bond Markets

he Mozambique bond market has re imaged after a successful bond issuance with the results of the public hearing held on March 21, 2023, at the Mozambique Stock Exchange. These bonds generated a high d

 Mar 28, 2023
CORPORATE ACTION SUMMARY

Border Timbers held Annual General Meetings, individually, for the years from 2018 to 2022 as the company was under judicial management. For the years 2018 to 2021, shareholders passed the resolution

Mar 27, 2023
Zimbabwe Takes the Lead as Chair of African Diamond Producers Association

-Zimbabwe has taken over as the new Chair of the African Diamond Producers Association (ADPA), a move that is likely to reactivate the diamond mining sector and possibly deliver growth. Zimbabwe's cha

Mar 24, 2023
Biden's Economic Report Criticizes Cryptocurrencies For Lacking a Fundamental Value

The report made no recommendations for immediate action. Regulators, though, don't require a starting pistol. Some agencies, including the Securities and Exchange Commission, have already begun taking

Mar 24, 2023
South Africa Beats the Odds: Inflation Surges Higher Than Expected In February

South Africa's headline consumer inflation has risen slightly higher than expected in February, according to data released by Statistics South Africa. Year on year, inflation grew by 7.0% from 6.9% in

Mar 23, 2023

Volatility Yields: ZSE Investors Take Home Almost 50% US$ Gains

The highly volatile financial market, Zimbabwe Stock Exchange (ZSE), has once again emerged the best performing bourse in Africa on a year-to-date basis, in US$ terms. As at the 21st of March, 2023, t

Mar 22, 2023

TSL Revenue Soars as Expansion Initiatives Pay Off

TSL Limited, a tobacco merchant, and agro-industrial focused group increased its revenue by 106% in inflation-adjusted terms during the first quarter ended 31 January 2023 against the prior period. Th

Mar 21, 2023

African Markets Update: Unlocking the Mystery of Third World Economies' Record Stock Exchange Results

The Zimbabwe Stock Exchange is currently the best performing stock market in Africa, with a year-to-date return of 34.67% in USD terms, and 83.41% in inflation-adjusted ZWL. Typically, the stock mark

Mar 21, 2023

First Capital Bank ducks ZSE, eyes VFEX

Harare - FIRST Capital Bank Limited has announced plans to delist from the Zimbabwe Stock Exchange with the intention to list at the Victoria Falls Stock Exchange (VFEX). The recent removal of the 100

Mar 20, 2023

CORPORATE ACTION SUMMARY

CFI withdrew the Annual General Meeting (AGM) notice issued on the 9th of March, 2023, and pushed the event to a further date at the same venue. The company’s 27th AGM will now be held on Friday, the

Mar 20, 2023

Oil Price Surge Crushed After US and Swiss Banking Crisis

Harare-Oil prices are set to experience their steepest weekly decline of the year, with West Texas Intermediate (WTI) futures climbing only slightly above US$69 a barrel on Friday. The market disrupti

Mar 17, 2023

Weekly Cabinet Review: Breaking Down the Progress of NDS1

In the fifth post-cabinet press briefing an update on the country‘s Response to the COVID-19 Pandemic was received which reported that 1 death was recorded during the week under review, compared to th

Mar 16, 2023

Conflict Brewing: CZI and ZETDC Face-off as Power Charges Surge

The Confederation of Zimbabwe Industries (CZI) has suggested that US dollar electricity billing should be adjusted according to the ratio of foreign currency sales, as businesses have different mixes

Mar 16, 2023