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Zanu-PF's Raj Modi interested in Choppies acquisition
Local trading firm Pin Tail Trading, which operates the Sai Mart retail chain, has expressed interest in acquiring Choppies Enterprises Limited's Zimbabwe operations. The leading supermarket chain rec...Published: 01 Dec 2024 at 08:54hrs | 3483 | by Staff reporter
Choppies considers exiting Zimbabwe
Choppies Enterprises Limited has announced its intention to sell the business operations of its wholly-owned subsidiary, Nanavac (Pty) Ltd, trading as Choppies Zimbabwe, subject to discussions and reg...Published: 29 Nov 2024 at 18:26hrs | 6193 | by Staff reporter
SA constitution serves the elite and the neoliberal agenda
The MK Party has called for the scrapping of South Africa's constitution, claiming it serves the elite and the neoliberal agenda. The party, led by former president Jacob Zuma who was in the A...Published: 19 Oct 2024 at 19:59hrs | 257 | by Staff reporter
Setback for Ramaphosa as another major retailer in South Africa closes its doors
Jumia Technologies, the Africa-focused e-commerce retailer that operates popular online retailer Zando, says it will be exiting the South African business by the end of the year to sharpen its focus o...Published: 19 Oct 2024 at 12:31hrs | 9611 | by Staff reporter
Collen Malatji issues fiery warning to Ramaphosa
In a passionate and defiant address during a march from Luthuli House to the Johannesburg Stock Exchange (JSE) in Sandton, African National Congress Youth League (ANCYL) President Collen Malatji deliv...Published: 11 Oct 2024 at 17:17hrs | 651 | by Staff reporter
South African Rand takes a hit
The rand and a number of South African stocks took a hit on Monday as investors moved away from purchasing riskier assets, and it became evident that the US may enter a recession.The rand was ...Published: 06 Aug 2024 at 09:12hrs | 1342 | by Staff reporter
Why Jacob Zuma is now winning court cases
On Tuesday, 9 April 2024, the electoral court set aside the IEC's decision to bar former president Jacob Zuma from running for a parliamentary seat. The IEC had disqualified Zuma due to his criminal r...Published: 10 Apr 2024 at 15:26hrs | 7 | by Siyabonga Hadebe
Multichoice believes Zimbabwe may prove a better market than Nigeria
Multichoice, which is banking on economic and monetary policy reforms in Nigeria to offset exchange rate losses, considers Zimbabwe an important market that is better than its West African counterpart...Published: 06 Jul 2023 at 09:17hrs | 1 | by Staff reporter
PPC grim warning for Zimbabwe operations
SOUTH Africa's biggest cement producer PPC, which has operations in Zimbabwe, has warned that its headline loss per share from continuing operations will widen to between 7,75c (Rands) and 8,25c to en...Published: 19 Jun 2023 at 06:44hrs | | by Staff reporter
EFF shutdown knocks the rand
The JSE was lifted by rand hedges and precious metals miners on Monday, amid global jitters over recent banking crises abroad, with the rand showing some pressure. This was as the EFF pressed ahead wi...Published: 20 Mar 2023 at 14:25hrs | 3 | by Staff reporter
A guide to index performance when trading
Trading on the Johannesburg Stock Exchange (JSE) can be a great way to diversify your investments, but it's important to understand how the JSE index performs in order to make informed decisions. ...Published: 23 Jan 2023 at 16:21hrs | 7 | by Moyo Roy
Africanise the law and land
In Mzansi, most citizens can only own real estate when they are dead - their graves and tombstones if they can afford one. From the living majority, they become the silent majority.Throughout ...Published: 27 Jul 2022 at 19:29hrs | 1 | by Lindiwe Sisulu
PPC downbeat as inflation shakes Zimbabwe
JOHANNESBURG Stock Exchange (JSE)-listed Pan African cement maker, PPC has said its earnings per share (EPS) from the Zimbabwean operations would be undermined by rocketing inflation.Ahead of ...Published: 24 Jun 2022 at 07:41hrs | | by Staff reporter
Zimbabweans clinch US$113 million property deal in Namibia
ZIMBABWEAN investors, including pension funds, are working on plans to take over a US$113 million (N$1,8 billion) property, The Grove Mall of Namibia, in Windhoek.The deal, which is at an adva...Published: 18 Jun 2022 at 07:27hrs | | by Staff reporter
SA business group unhappy with rise of Zimbabwean expats
THE appointment of Sitholizwe Mdlalose as chief executive of South Africa's telecoms giant Vodacom has triggered xenophobic reactions after the country's Black Business Council (BBC) demanded that loc...Published: 13 May 2022 at 19:13hrs | 9 | by Staff reporter
Policy flip flops impede platinum deals
INVESTMENT into Zimbabwe's platinum sector has been held back by unpredictable policies, a leading resource campaigner said this week.Claude Kabemba, executive director at Southern African Res...Published: 15 Apr 2022 at 08:59hrs | 1 | by Staff reporter
SA companies caught in Russia-Ukraine crossfire
JSE counters with even a remote connection to the Russia-Ukraine conflict have taken a pounding in the past week as gun-shy investors decided they were not worth the risk.Leading the fall was ...Published: 02 Mar 2022 at 05:39hrs | 9 | by Staff reporter
Zimbabwean born executive takes over as Sun International chairperson
JSE-LISTED hospitality and gaming group Sun International yesterday announced the appointment of Sam Sithole as its new chairperson while the group navigates the choppy Covid19 environment.Sit...Published: 06 Jul 2021 at 20:23hrs | 7 | by Staff reporter
'Beitbridge project among top deals of the year'
The Global Trade Review, the global trade finance magazine, has named the US$296 million project to rebuild Beitbridge Border Post among its top 11 worldwide deals of the year.Global Trade Rev...Published: 28 May 2021 at 08:03hrs | | by Staff reporter
Zimbabwe govt caves in to market pressure
THE Zimbabwean government has caved in to market demands for valuation of the two suspended formally dually-traded securities, Old Mutual and PPC, to be valued according to the closing prices of the t...Published: 30 Apr 2021 at 07:27hrs | | by Staff reporter
Tremors shake Old Mutual SA after ZSE clampdown
JOHANNESBURG Securities Exchange (JSE) listed financial services powerhouse Old Mutual Limited (OML) says crucial negotiations were underway to strike a deal with Harare following the suspension of it...Published: 28 Mar 2021 at 06:58hrs | 11 | by Staff reporter
Govt extends suspension of fungibility of Old Mutual and PPC shares
Finance and Economic Development Minister Professor Mthuli Ncube, has extended the suspension of financial services giant Old Mutual and cement maker PPC's fungibility by another 12 months. In...Published: 16 Mar 2021 at 06:20hrs | 1 | by Staff reporter
David Brown to resurrect Zimbabwe gold mines
DAVID Brown's association with Zimbabwe's mining sector dates back to his six years as CEO of Impala Platinum (Implats) which ended in 2012.During that time, he met with the late former Presid...Published: 15 Feb 2021 at 07:57hrs | | by Staff reporter
Karo Resources venture raises eyebrows
KARO Resources directly employs just eight people, two years after it was allocated vast platinum claims sitting on 23 000 hectares under a project the government said the company would set up a US$4,...Published: 27 Nov 2020 at 07:04hrs | 8 | by Staff reporter
Deadlock over Old Mutual listing
THE delisting of Old Mutual from the Zimbabwe Stock Exchange (ZSE) and subsequently listing on the new Victoria Falls Stock Exchange (VFEX) is facing major hurdles, amid indications the financial inst...Published: 20 Nov 2020 at 06:09hrs | 5 | by Staff reporter
SAA awaits approval to repatriate blocked funds from Zimbabwe
The airline's rescue practitioners, Les Matuson and Siviwe Dongwana, have already accepted the mining company's offer to pay South African Airways (SAA) in exchange for access to its funds in Zimbabwe...Published: 23 Oct 2020 at 08:33hrs | 1 | by Staff reporter
Victoria Falls exchange primed to be the best
Government plans to make the Victoria Falls Stock Exchange (VFEX), which will provide an avenue for foreign currency listings, one of the best in the region whose rules and regulations are in line wit...Published: 11 Oct 2020 at 10:02hrs | | by Staff reporter
Will capitalism allow SA to bail Zimbabwe out?
SOUTH AFRICA has taken the unofficial role of Zimbabwe's big brother over the years given its relatively better economy and extensive relationship with the country.When Zimbabwe's socio-econom...Published: 30 Sep 2020 at 07:28hrs | | by Tafara Mtutu
Suspended Choppies CEO responds to 'unfair and biased' forensic & legal reports
Legal and forensic reports into Choppies Enterprises Limited, circulated to shareholders via Botswana's X-News and the Johannesburg Stock Exchange News Service (SENS) are unfair and biased – and app...Published: 27 Aug 2019 at 21:32hrs | 5 | by Staff reporter
Allan Gray hopes that courts rule in Trevor Manuel's favour against Peter Moyo
Not deterred by the bloody corporate battle at Old Mutual, the investment manager Allan Gray now owns more than 10% of the life insurer.Old Mutual CEO, Peter Moyo, was fired in June after accu...Published: 21 Aug 2019 at 11:55hrs | | by Staff reporter
Old Mutual responds to Zimbabwe shareholder who want the Board to resign
Thank you for responding to my request for the Chair and the Board to resign. I am aware that you could not say much because this issue is before the High Court. For you to suggest that these court pr...Published: 16 Aug 2019 at 19:19hrs | 1 | by Old Mutual
Choppies battle heads for EGM
The boardroom battle for Botswana and JSE-listed Choppies Enterprises Ltd, is heading for resolution by shareholders at an Extraordinary General Meeting (EGM) in Gaborone on 4 September 2019.C...Published: 15 Aug 2019 at 21:10hrs | | by Staff reporter
Peter Moyo wants Trevor Manuel declared in contempt of court
Old Mutual will head to court on Friday to battle it out with its on-again, off-again CEO Peter Moyo in the second round of a corporate clash that Moyo has dubbed "David vs. Goliath" in court papers. ...Published: 13 Aug 2019 at 16:14hrs | | by Staff reporter
Zimbabwean shareholder seeks ouster of Trevor Manuel from Old Mutual
THE labour row, rocking international financial conglomerate, Old Mutual has taken a sinister twist with a Zimbabwean shareholder now seeking the ouster of former South African Finance Minister Trevor...Published: 11 Aug 2019 at 16:26hrs | | by newzimbabwe
Old Mutual Chairman and Board of Directors should immediately resign
Dear Editor, As a shareholder and insurance policy holder of Old Mutual Plc I am requesting the Chairman Trevor Manuel and the board directors of Old Mutual Plc to immediately resign and call...Published: 11 Aug 2019 at 13:16hrs | 1 | by Engineer Jacob Kudzayi Mutisi
Trevor Manuel's Old Mutual files urgent court papers to stop Peter Moyo resuming duties
Old Mutual said on Friday it has filed an urgent declaratory order application asking the court to block its newly reinstated CEO Peter Moyo from resuming his duties.Company spokesperson Tabby...Published: 02 Aug 2019 at 16:48hrs | | by Staff reporter
Peter Moyo reports for duty, but Trevor Manuel's Old Mutual locks him out?
Axed CEO Peter Moyo reported for duty on Wednesday morning despite a statement by Old Mutual late on Tuesday night that it would immediately appeal the court order reinstating him.In its state...Published: 31 Jul 2019 at 08:55hrs | | by Staff reporter
Mnangagwa's cabinet panics
Zimbabwe's thermal power stations may soon fail to feed onto the national electricity grid after coal suppliers warned their stockpile lasts for 12 days, plunging the country into colossal power crisi...Published: 25 Jul 2019 at 08:22hrs | | by Staff reporter
Peter Moyo vs Trevor Manuel: Explosive court papers reveal how 'all hell broke loose'
Former Old Mutual CEO Peter Moyo has detailed the breakdown of his relationship with Old Mutual chairperson Trevor Manuel in court papers before the South Gauteng High Court, where he alleges that Man...Published: 01 Jul 2019 at 08:35hrs | | by Staff reporter
Peter Moyo exposes Trevor Manuel
Former Old Mutual CEO Peter Moyo has filed an urgent application in the South Gauteng High Court seeking among other things to be reinstated to his position and an interdict stopping the firm from fil...Published: 28 Jun 2019 at 23:14hrs | | by Staff reporter
Peter Moyo reveals Trevor Manuel 'triple conflict'
Former Old Mutual CEO Peter Moyo has filed an urgent application in the South Gauteng High Court seeking among other things to be reinstated to his position and an interdict stopping the firm from fil...Published: 28 Jun 2019 at 23:10hrs | | by Staff reporter
New regulations tame bourse arbitrage window
THE 90-day disposal window of dual listed securities or shares bought by investors on the Zimbabwe Stock Exchange is a positive move as it tames arbitrage opportunities and externalisation of funds, e...Published: 27 Jun 2019 at 06:33hrs | | by Staff reporter
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 26 Jun 2019 at 07:32hrs | | by Respect Gwenzi
Biti, Mthuli in nasty exchange
Finance and Economic Development minister Mthuli Ncube and MDC vice president Tendai Biti - who held the Finance portfolio during the inclusive government between 2009-13 - have engaged in a war of wo...Published: 10 Jun 2019 at 07:46hrs | | by Ndou Paul
Ex-President take on Mphoko tormentor in bitter Choppies boardroom battle
A bitter Boardroom battle for control of Botswana's most prestigious company is being waged in Gaborone - and is reverberating through eight sub-Saharan countries.At its heart is a battle for ...Published: 24 May 2019 at 21:26hrs | 2 | by Agencies
Battle for control of Choppies turns nasty...Festus Mogae turns against partner
A bitter Boardroom battle for control of Botswana's most prestigious company is being waged in Gaborone – and is reverberating through eight sub-Saharan countries.At its heart is a battle fo...Published: 24 May 2019 at 17:39hrs | | by Staff Writer
Mphoko's nemesis suspended by Choppies Board
The board of grocery retailer Choppies has suspended its CEO Ramachandran Ottapathu, the man who revealed that former Vice-President Phelekezela Mphoko's family were given 51% of the shareholding "on ...Published: 21 May 2019 at 16:12hrs | | by Staff reporter
Can Zimbabwe manage to de-dollarize
The Zimbabwean government has indicated that a local currency will be introduced in the next 12 months in a move widely believed to be a precursor to joining the Common Monitory Area (CMA), also refer...Published: 23 Apr 2019 at 15:18hrs | 8 | by Victor Bhoroma
Zimbabwean born Peter Moyo gets R22.5-million payday
Old Mutual Chief Executive Peter Moyo earned a total of R35.5m in 2018, a period that saw the group complete its managed separation and list its African and emerging markets arm on the JSE.Moy...Published: 31 Mar 2019 at 22:47hrs | | by Staff reporter
Adcock exits Zimbabwe
SOUTH African pharmaceutical group Adcock Ingram has exited the Zimbabwean market after disposing of its operating subsidiary for an undisclosed amount.The Johannesburg Stock Exchange (JSE)-li...Published: 08 Mar 2019 at 07:02hrs | | by Staff reporter
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