Stock Market

Stock Market ● 4 weeks ago
ZSE Stocks struggle for direction as VFEX launches

Overall Comment: •  Stocks close in the black in week characterised by choppy trading •  USD denominated bourse launched •  ZWL pares against USD after 7 weeks of steady recovery   Trading in the week under review was largely characterised by volatility as the market struggled to find direction. However, by the end of the week, stocks were slightly up compared to the prior week close. The ZSE...


Stock Market ● 3 weeks ago
Delta’s parent AB InBev’s year to date revenue declines despite Q3 recovery

Harare – The world’s largest brewer, AB InBev’s revenue for the nine months period ended 30 September declined by 6.8% despite having recorded recoveries in the third quarter ending the same period. AB InBev is the major shareholder to Zimbabwe’s largest brewer, Delta Corporation Limited with a 41% stake. Revenue for Q3 2020 grew by 4% attributed to a healthy volume performance. In a performanc...

Stock Market ● 3 weeks ago
ZSE closes higher, halting 3-day long losses trend

*Performance Charts incl (ZSE indices, ZSE Value Traded, Interbank) The stock market partially reversed a 3-day losing streak on rising by 1.39% on Thursday. The bourse has largely traded sideways over the last 4 weeks as the Zimdollar stabilises against the USD. This week the local unit lost a negligible 0.004% against the greenback as the supply of forex continues to match demand. Despite chopp...

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...

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
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 ● 1 week ago
Masimba Holdings’ construction volume increases in third quarter

A number of construction works were completed during the period PAT up 15.7% ahead of prior year Full-year results expected to be ‘significantly’ ahead of the comparative period Harare – Masimba Holdings Limited, a Contracting and Industrial group in Zimbabwe, providing engineering and infrastructure solutions to the agricultural, commercial and corporate sector as well as housing, mini...

Stock Market ● 6 days ago
RioZim withdraws cautionary announcement, agrees payment structure with RBZ

Delays in payments for gold deliveries strained the Company’s working capital Agreement reached with RBZ and Fidelity will help revitalize operations RioZim has an extensive portfolio of resources in gold, base metals, diamonds, coal and chrome HARARE – ZSE listed, gold producer RioZim Limited has withdrawn the cautionary announcements dated 15 June 2020 and 8 July 2020 regarding the impass...