Axia HY profit down 16pct

HARARE, March 9 (The Source) – Axia Corporation’s after tax profit in the half-year period to December 31, 2016, dropped 16 percent to $7,8 million compared to $9,4 million in 2015, largely on increased operational costs. Revenue at $119 million was 14 percent up on… Read More

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

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