Business

Business

GOVERNMENT is seeking to raise another $300 million through Treasury Bills (TBs) to finance its programmes, a month after issuing a sovereign paper with the same amount. ...

CONFEDERATION of Zimbabwe Retailers (CZR) president, Denford Mutashu says fights for business control among foreign companies in Zimbabwe was affecting investment prospects in the retail sector. ...

NATIONAL Foods Limited has reported a 36% decline in sales volumes in the first quarter ended September 2019 owing to reduced consumer spending power. ...

INVICTUS Energy Limited has requested for a trading break of the company’s securities until tomorrow, when the group releases a capital raising update to the market. ...

Old Mutual Zimbabwe has appointed Samuel Matsekete as chief executive taking over from Jonas Mushosho, with effect from January 1, 2020. ...

PRESIDENT Emmerson Mnangagwa, presently presiding over an imploding economy, is anticipating an ambitious average national economic growth rate of 7% per annum during his tenure. ...

CONFEDERATION of Zimbabwe Industries (CZI) president Henry Ruzvidzo says the past nine months have been extremely tough for most companies, and expressed hope that the 2020 National Budget ...

BULAWAYO businessman, Elvis Basira, has been reported to the police for allegedly threatening to shoot kombi driver Edgar Gumbo for dating his ex-girlfriend. ...

ZIMBABWEANS across the country love locally-produced goods, but issues to do with availability, affordability and quality, among others, have forced them to buy foreign products at the expense of local ones. ...

TELECOMMUNICATIONS company, TelOne has increased its tariffs by 199,35% with effect from yesterday. ...

Listed beverages brewer, Delta Corporation Limited (Delta) has reported a 48% tumble in lager beer volumes during the half year period ending September 2019, as the bluechip company continues to feel the pinch of the economic crisis obtaining in the country. ...

GOVERNMENT should show commitment towards combating corruption through ensuring transparency and accountability in the administration of public funds, the Zimbabwe Coalition on Debt and Development (Zimcodd) has said. ...

STANBIC Bank has launched a low-cost transactional account to benefit low-income earners, who include university students, informal and sole traders. ...

Resources group RioZim Limited reported an 8% fall in gold output as rolling power cuts hit production at its Dalny Mine despite paying for uninterrupted power supply in United States dollars to the power utility. ...

THE Institute of Chartered Accountants of Zimbabwe (ICAZ) is set to unveil hyperinflation reporting (IAS29) implementation guidelines next week that will provide an index to use following the suspension of key data publication by Treasury. ...

ZIMBABWE’S egg production increased by 35% to 12,6 million dozen of eggs in the third quarter of the year compared to the same period last year, with small-scale producers contributing more than half of the total output, an official has said. ...

SECURITIES firm, Morgan and Company (Morgan & Co) says that Old Mutual Zimbabwe Limited (OMZIL) is cushioned from the vagaries of inflation and currency volatility as 75% of its $7,3 billion assets are invested in property and securities. ...

ZIMBABWE’S labour market is in intensive care, with workers facing a bleak festive season owing to poor or no salaries against galloping inflation that has catapulted prices through the roof. ...

Listed clothing retailer Edgars Stores Limited says consumer spending was suppressed in the interim period to July 7, 2019 owing to eroded purchasing power. ...

Prospect Resources, the ASX-listed firm developing Arcadia lithium mine at Goromonzi, says its ultra-low iron petalite product has progressed through the initial qualification process with two of the world’s largest glass-ceramic manufacturers, both based in Europe. Prospect provided both manufacturers with samples for laboratory testing and analysis. “The outcomes from their analysis is that the ultra-low iron petalite meets the glass-ceramic market’s stringent technical specifications,” the company said in a notice on Monday. ...

ZIMBABWE’S labour market is in intensive care, with workers facing a bleak festive season owing to poor or no salaries against galloping inflation that has catapulted prices through the roof. ...

THE Zimbabwe Parks and Wildlife Management Authority (ZimParks) raked in over US$3,2 million in the sale of 101 baby elephants to China and the United Arab Emirates between 2016 and this year. ...

ZIMBABWE’S pork value chain is facing multiple challenges including poor nutrition and husbandry skills, lack of good quality breeds among others, that needed to be addressed as a matter of urgency. ...

A HUGE chunk of Zimbabwe's insurance firms do not have software to analyse and debunk risks associated with their business, a survey conducted by African Actuarial Consultants has revealed. ...

THE Zimbabwe Revenue Authority (Zimra) has hit out to insurers who are not remitting insurance commission tax collected from freelance agents.In a statement published last week, Zimra said there were also insurers who are collecting commissions from unregistered short-term insurers. ...

GOVERNMENT has called on the corporate sector to lead the digital transformation drive so that it remains relevant and adapt to the ever-changing digital environment. ...

ZIMBABWE’S poultry sector recorded a 28% drop in output after producing about 16,8 million broiler day-old chicks in the third quarter of the year, with players attributing the ...

After enjoying rare inflated topline growth in the first six months of 2019 and the immediate past financial year, Zimbabwe companies are set to report a sharp contraction ...

Zimbabwe’s economy is set to shrink by 6,5% this year – its first contraction in a decade — after a drought and power shortages, the Finance minister said ...

News about a pending currency coming to the market in a fortnight made headlines on Tuesday even as it abated confusion over the reintroduction of the currency in question. The confusion pertains to whether the currency is a new currency different from the one introduced in June or in February, whichever point one prefers. Some believe the currency has been there since three months ago, while others are of the view that it has been there since February and some say it was there since October 2018. Interestingly my view is far off from all those that are conventionally shared, and in later parts of this article I will share my view on the not so new ‘new currency’s origins. On Tuesday, the central bank governor who is also the chairperson of the Monetary Policy Committee briefed the media following a two-day sitting by the Monetary Policy Committee, a first since the committee was set up. ...