PPC reject Fairfax deal

HARARE, November 23 (The Source) – Regional cement maker Pretoria Portland Cement (PPC) has turned down Fairfax Africa Investments’ partial offer, saying was not ‘fair and reasonable.’ PPC had appointed Investec Bank to provide an opinion in respect of the partial offer, which concluded that… Read More

Platinum output falls 21pct in Q3

HARARE, November 23 (The Source) – Zimbabwe’s refined platinum production in the third quarter of 2017 declined by 21 percent from 120,000 ounces last year to 95,000 ounces owing to furnace maintenance work, reported World Platinum Investment Council (WPIC). In 2016, the southern African nation… Read More

Mugabe resigns, ending 37 years of rule

HARARE, November 21 (The Source) –  Zimbabwe’s President Robert Mugabe quit on Tuesday, ending his 37 years reign as a joint sitting of Parliament began the process to impeach him. Speaker of Parliament Jacob Mudenda read Mugabe’s resignation to celebrations from MPs on both sides… Read More

Zimbabwe inflation spikes to 2.24pct

HARARE, November 15 (The Source) – Zimbabwe’s consumer price inflation grew to 2.24 percent year-on-year in October from 0.78 percent in September, the national statistics agency said on Wednesday. Month-to-month the inflation rose by 1.54 percent in October from 0.38 percent previously, Zimstats said.

Zim stocks extend gains

HARARE, November 5 (The Source) – The Zimbabwe Stock Exchange (ZSE) industrial index gained 2.2 percent to 525,63 points after a recovery in some heavyweight counters.The mining index also gained 2,37 percent to close at 140,5 points. Market capitalisation increased by 2,25 percent in the… Read More