Stock Market ● 1 week ago
Improved foreign currency supply positively impacts on AfDis operations

Quarterly volumes up 28% Revenue up 15% Operations smoothened by improved accessibly to forex facilitated by the Forex Auction Harare – Liquor manufacturer and distributor African Distillers Limited has posted improved volumes in spirits and ready-to-drink (RTD) operations, as well as a jump in revenue for the third quarter, ended 30 September 2020 on the back of improved foreign currency s...


Stock Market ● 2 weeks ago
Econet suffers ZW$6.1 billion exchange losses

Harare – Econet Wireless Zimbabwe Limited (EWZ) recorded a staggering exchange loss amounting to ZW$6.1 billion during the year ended 29 February 2020 stemming from the devaluation of the local currency against the US dollar. In a statement accompanying the group’s financial results for the period under review, the Group chairperson Dr James Myers said the Group continued to engage the Central Ba...

Stock Market ● 2 weeks ago
Hyperinflation forces Truworths to narrow debtors’ book

Harare – Zimbabwe Stock Exchange (ZSE) listed Casual and footwear retailer, Truworths Limited reports that it has had to cut down on granting customers credit sales while increasing interest rates for debtors as a means of coping with hyperinflation and currency devaluation in Zimbabwe. Truworths has over 18 branded stores located in the major towns and cities of Zimbabwe and retails and sells fa...

Stock Market ● 2 weeks ago
Government restores SeedCo’s fungibility

Harare – Government on Thursday restored full fungibility of Seed Co International Limited’s shares following 8-months long suspension as the authorities argued that fungibility in an inflationary environment like Zimbabwe allows investors to compare prices across different exchanges and exploit arbitrage opportunities. The suspension took effect on 15 March 2020 as Government through Exchange Co...

Analysis ● 2 weeks ago
Implats’ Q1 FY2021 production increases 18% as Zim operations remain stable

Harare – South African mining group Impala Platinum Holdings Ltd (JSE:IMP) reported a 18% increase in tonnes milled during the first quarter ended 30 September 2020 (Q1 FY2021) to 6.13 million tonnes compared to 5.21 million tonnes achieved in the prior comparable period. Implats has operations in Zimbabwe through an 87% stake in Zimplats and 50% stake in Mimosa which it co-owns with Sibanye-Stil...


Analysis ● 2 weeks ago
Sibanye posts record quarterly EBITDA due to improved PGM and gold pricing

Harare – South African miner, Sibanye Stillwater with a 50% holding in Zimbabwe based Mimosa gold mine has posted record quarterly Earnings Before Interest, Taxes, Depreciation and Amortization (EBIDTA) of US$922.1 million representing a 144% increase from the US$377.4 million posted in the comparative period in 2019. The record earnings are as a result of improved production and improved pricing...


Analysis ● 3 weeks ago
ZHL consolidates grip in ZPI to 97.62% shareholding

Following negotiations which began in early September this year, Zimre Holdings Limited (ZHL) now holds 97.62% shareholding in Zimre Property Investments (ZPI) after acquiring 93.34% ordinary shares held by ZPI minority shareholders. Before the acquisition, minority shareholders held a total of 613,167,547 shares, representing 35.72% of the company while ZHL itself already held the majority of th...

Analysis ● 3 weeks ago
Zimplow moves to acquire Tredcor and Birmingham investments from UniFreight

Harare – Agro-industrial firm, Zimplow Holdings Limited has offered to acquire 100% of Unifreight Africa Limited’s shareholding in Birmingham investments and the 51% in Tredcor Zimbabwe held by Unifreight’s subsidiary Clan Services (Private) Limited in exchange for a total of 34 174 010 newly issued ordinary shares in the company. Unifreight Africa Limited is a transport holding company in Zimbab...

Stock Market ● 3 weeks ago
Delays in forex payments continue to choke RioZim operations

Harare – The delays on the payment of RioZim’s gold receipts by the Reserve Bank of Zimbabwe (RBZ) is still persisting and has severely strained the working capital and cash flows of the Group and greatly hampered production, the Group said in the latest trading update released on Monday. In a trading update for the three months ended 30 September 2020, the Group said it continues to engage the R...

Analysis ● 3 weeks ago
STANBIC WINS PRESTIGIOUS BANKING AWARD

Stanbic Bank has reclaimed the Best Bank in Zimbabwe title awarded by the European, Middle East and Africa, EMEA Finance at the recently held African Banking Awards 2020. The Standard Bank Group of South Africa subsidiary joined other country member banks under the group, such as Ghana, Kenya, Malawi, Namibia, Mauritius, Nigeria, Tanzania, Uganda and Zambia to ensure the continent’s biggest banki...