Business

Business

...

TRANSPARENCY International Zimbabwe (TIZ) says government should recover funds from suppliers who have not delivered services and goods paid for by parastatals and State enterprises. ...

GOVERNMENT says it no longer has pressure to borrow on the local market after it repaid in excess of $1,5 billion of its domestic debt, a Treasury official has said. ...

Nigeria will sign an Africa free trade agreement at the coming African union summit, according to a statement posted on the Nigeria presidency’s Twitter feed on Tuesday. ...

ZIMBABWE has, since 2009, accumulated a trade deficit of $32,15 billion, a development that has left the country battling with persistent foreign currency shortages, a government official has said. ...

Government says it will soon review electricity tariffs to reflect costs because current charges are no longer sustainable. ...

CFI holdings Limited reported a profit-after tax of ZWL$7,2 million in the half-year to March 31, 2019, up from ZWL$2,1 million posted over the same period last year, driven by growth in earnings from its retail division. ...

STEWARD Bank recorded a 42% increase in profit-after-tax to ZWL$31,9 million in the year ended February 28, 2019 from ZWL$22,5m recorded in the previous year, driven by growth in non-interest income. ...

The Reserve Bank of Zimbabwe (RBZ) says it has written to international exchanges requesting them to officially recognise the Zimbabwe dollar as a tradeable currency. ...

ZIMBABWE’S tourism sector has stagnated, recording a percentage growth in arrivals in the first quarter of the year, an industry official has said. ...

...

...

Econet Wireless Zimbabwe Limited (EWZL) posted a profit after tax of ZWL$106,4 million in the year ended February 28, 2019 from a comparable figure of ZWL$132,3 million in 2018 following the unbundling of Cassava Smartech Zimbabwe Limited (CSZL). ...

THE Insurance and Pensions Commission (Ipec) has directed insurance firms to discontinue issuing policies in foreign currency in line with Statutory Instrument 142 of 2019, which saw the re-introduction of the Zimbabwe dollar last week. ...

INVICTUS Energy Limited (IEL) says findings by a United Kingdom-based firm show a potential of 1,3 billion barrels of oil-equivalent, which consists of 200 million barrels of condensate. ...

PRETORIA Portland Cement (PPC) says revenue at its Zimbabwean entity declined by 20%, compared to last year, due to a weaker cement market, clinker shortages and depreciation in the functional currency in the second half of the financial year. ...

Stock markets like the Zimbabwe Stock Exchange and the Financial Securities Exchange provide a trading platform where shares of publicly held companies are sold and bought. ...

...

...

...

The Zimbabwe Revenue Authority (Zimra) says gross collections have so far reached ZWL$4,96 billion and the tax collector expects to surpass ZWL$5 billion by the end of June. ...

CHINESE mining firm, San He Zimbabwe, had its property attached by the sheriff after it failed to settle over US$218 970 in salary arrears and non-payment of overtime. ...

Manufacturing concern, starafrica Corporation posted a profit after tax of ZWL$8,8 million in the year ended March 31, 2019 from a loss after tax of ZWL$3,8 million recorded in 2018 due to an increase in volumes and cost management strategies. ...

CIGARETTE manufacturer, British American Tobacco (BAT) Zimbabwe says its sales volumes have remained stable despite a challenging operating environment. ...

...

...

If Zimbabwe is ready to embrace the remote gambling sector and reap the economic rewards, the government needs to think carefully about the best ways to regulate it. ...

The Zimbabwe Stock Exchange’s capitalisation on Monday increased by 4,6% to ZWL$30,86 billion as the market reacted to government’s decision to outlaw a multi-currency system adopted a decade ago. ...

PIPES manufacturing concern Proplastics says its order book is low due to low disposable incomes, with the group resultantly forced to cut down on production. ...

THE Zimbabwe Agricultural Society (ZAS) says it is yet to reach financial closure for the construction of its proposed $10 million shopping mall. ...