Analysis ● 11 months ago
COVID-19 Impact: Customs Duty collections sluggish in Q3 2020

“South Africa has opened its borders and cross-border trade is therefore expected to increase thereby feeding into higher collections in import duties”, ZIMRA said. Harare – Customs Duties, which are usually among the top five contributors to Zimbabwe’s net revenue collections, only contributed 9.40% of total revenues during the third quarter ended 30 September 2020 due to the impact of the lockd...


Analysis ● 11 months 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...

Analysis ● 11 months 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...

Stock Market ● 11 months ago
Dairibord’s forex earnings surge

Harare – Dairibord Zimbabwe Limited (DZL) reported an impressive sales volume recovery across all segments in the third quarter ended 30 September 2020 and on the export side, the Group continues to do well. In a statement accompanying the trading update for the third quarter ended 30 September 2020 (Q3 2020), the Group highlighted that its robust export strategy to counter economic fallout at ho...

Stock Market ● 11 months 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 ● 11 months 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 ● 11 months 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 ● 11 months 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 ● 11 months ago
BAT sales volumes slump 8% on depressed consumer spend, COVID 19

Harare – Zimbabwe Stock Exchange Listed cigarettes producer, British American Tobacco (BAT) has recorded an 8% decrease in sales volumes for the nine months ended 30 September 2020 mainly due to reduced consumer spending and the adverse impact of COVID 19. BAT produces some of Zimbabwe’s best-known cigarette products which include Madison, Everest, Dunhill, Newbury, Kingsgate and Ascot. In March...

Analysis ● 11 months ago
PPC overcomes COVID-19 woes with strong sales recovery

Sales volumes rose by a fifth in October YoY Experienced a muted sales in April and May 2020 due to the COVID-19 Cement volumes for PPC Zimbabwe grew by m approximately 5% Harare – JSE-listed Pretoria Portland Cement (PPC) said sales volumes have bounced back in the three months July to September 2020, showing a recovery of 20% to 25% year-on-year. The Group has operations in Zimbabwe thou...