HARARE, August 10 (The Source) – Stalap Investment’s offer to CFI minority shareholders flopped with no takers as minorities wait for a higher offering on the local bourse.
HARARE, August 10 (The Source) – First Mutual Holdings Limited (FMHL) is seeking shareholder approval to raise $17,25 million through a rights issue to finance the acquisition of a 80,92 stake in Zimbabwe’s largest short-term insurer Nicoz,Diamond.
HARARE, August 10 (The Source) – Dairibord Holdings narrowed its loss in the half year period to June to $845,000 from $1,9 million in the same period last year on improved revenue and a reduction in costs.
HARARE, August 10 (The Source) – There is a rush by President Robert Mugabe’s lieutenants to salvage his legacy, and the latest ploy in that race – a university named after him – may cost the taxpayer at least $1 billion. Higher and Tertiary Education… Read More
HARARE, August 9 (The Source) – Cash-strapped Zimbabwe on Wednesday announced plans to build a $1 billion university to honor its 93-year old President Robert Mugabe. Higher and Tertiary Education, Science and Technology Development Minister, Jonathan Moyo told journalists that Government approved a $1 billion… Read More
HARARE, August 9 (The Source) – Old Mutual Zimbabwe group’s after tax profit jumped seven-fold to $89,4 million in the six months to June from $12,5 million in the comparable period last year mainly due to an increase in investment income from non-banking activities, chief… Read More
HARARE, August 9 (The Source) – ZB Holdings reported a 38 percent increase in net profit from $5,9 million to $8,2 million in the six months to June driven by a jump in transaction revenue.
HARARE, August 9 (The Source) – Zimbabwe government’s expansion of its bond note programme could lead to a notable increase in inflation and will dim prospects for any economic recovery in 2017, according to research firm, BMI.
HARARE, August 9 (The Source) – Zimbabwe should accelerate its plans to introduce fuel marking as the programme could save the country at least $240 million annually in revenue lost to smuggling and eventually lower fuel prices, an industry expert has said.
HARARE, August 9 (The Source) – African Sun Limited overturned a half year 2016 loss position of $560,000 to a net profit of $190,000 in 2017 largely driven by the growth in revenue and cost management initiatives.
BULAWAYO, August 9 (The Source) — Zimbabwean abattoirs have successfully lobbied government to scrap a levy on raw skin and hide exports till the local leather industry has recovered, according to a confidential industry report.
HARARE, August 7 (The Source) – AIM-listed junior miner, Premier African Minerals says it has discovered more lithium deposits at its Zulu Mine in south central Zimbabwe. The Zulu lithium project near Fort Rixon, has an estimated 20.1 million tonnes resource base grading 1.06 percent… Read More
HARARE, August 7 (The Source) – Finance Minister Patrick Chinamasa on Monday said government would allow local authorities with sound financial management systems in place to issue bonds and raise finance for infrastructural development. Zimbabwe has 92 local authorities, which Chinamasa said did not have… Read More
HARARE, August 7 (The Source) – The Securities and Exchange Commission (SECZ) says CFI Holdings minority shareholders should disregard an informal offer by Messina Investments which it says undermines the integrity of the market and transparency in trading of equities on the local bourse.
HARARE, August 7 (The Source) – The Zimbabwe Stock Exchange (ZSE) has experienced capital flight during the year to July 31, as foreign sales amounting to $60,9 million outweighed foreign purchases of $33,5 million, resulting in a net capital outflow of $27,4 million. Participation on… Read More