Zimbabwe shelves VAT on basic foodstuffs

HARARE, Feb 8 (The Source) – Zimbabwe’s government has shelved a 15 percent value-added tax on basic foodstuff which came into effect last week, following an uproar from consumers already burdened by a struggling economy, Finance Minister Patrick Chinamasa announced on Tuesday. Faced with shrinking… Read More

Econet defies ZSE, says EGM to go ahead

HARARE, February 2 (The Source) – Econet Wireless says its extraordinary general meeting to consider a proposed $130 million capital raise will go ahead as planned on Friday, setting itself on a collision course with the Zimbabwe Stock Exchange which directed the company to postpone… Read More

Ok Zimbabwe CE Zireva retires

HARARE, Feb 1 (The Source) – OK Zimbabwe, the country’s largest retail group, has announced the retirement of long-serving chief executive Willard Zireva. In a Zimbabwe Stock Exchange (ZSE) filing on Wednesday, OK Zimbabwe said Zireva would leave the company at the end of March.… Read More

ZSE orders Econet to postpone EGM

HARARE, Feb 1 (The Source) – Econet Wireless Zimbabwe’s extraordinary general meeting, slated for Friday to consider a proposed $130 million capital raise, has been postponed indefinitely, the Zimbabwe Stock Exchange (ZSE) has said. Econet’s capital call has generated some controversy largely due to its… Read More

Axia says PAT flat in Q1

HARARE, November 29 (The Source) – Axia Corporation says net profit for its first quarter as a standalone company  is flat on same level as last year while overall group revenue increased 12 percent. Axia, the logistics, distribution and retail unit was unbundled in May… Read More