Search / Revaluation
TelOne struggles to attract investment
TelOne (Private) Limited is facing significant challenges in securing fresh capital for vital infrastructure expansion projects, as legacy debts inherited from the defunct Posts and Telecommunications...Published: 03 Jul 2025 at 12:29hrs | 133 | by Staff reporter
First Mutual Holdings suffers US$27 million loss
Financial services group First Mutual Holdings Limited (FMHL) has reported a significant after-tax loss of US$27.11 million for the financial year ended December 31, 2024, reversing the previous year'...Published: 02 Jul 2025 at 12:05hrs | 231 | by Staff reporter
Banks smile all the way to the bank, while depositors bear cost of high fees
Shareholders in Zimbabwe's banking sector are enjoying robust returns on their investments, as banks continue to post strong profits and declare sizeable dividends. However, concerns are mounting amon...Published: 13 Apr 2025 at 09:46hrs | 643 | by Staff reporter
Zimbabwean banks face backlash over excessive charges
Zimbabwe's banking sector is celebrating strong financial results, with shareholders across financial institutions enjoying substantial dividend payouts following another profitable year. However, the...Published: 06 Apr 2025 at 11:26hrs | 393 | by Staff reporter
ZiG spawns upheavals in insurance industry
Insurers have been scrambling to reassure policyholders as market jitters resurface in the wake of the introduction of Zimbabwe Gold (ZiG) in April. With memories of the devastating currency shifts in...Published: 24 Nov 2024 at 10:13hrs | 257 | by Staff reporter
Zimbabwe govt must support ZiG currency through raft of solid measures
THE Reserve Bank of Zimbabwe (RBZ) has been urged to implement a raft of measures, including fiscal discipline, public consultation and policy consistency, if the newly introduced Zimbabwe Gold (ZiG) ...Published: 19 May 2024 at 11:55hrs | 14 | by Staff reporter
Mthuli Ncube summoned over ZiG
FINANCE minister Mthuli Ncube has been summoned to Parliament to explain how the Zimbabwe Gold (ZiG) currency introduced on Friday will work.Legislators also want Ncube to amend the Finance Ac...Published: 11 Apr 2024 at 08:45hrs | 3 | by Staff reporter
FML bosses fleece policyholders
FIRST Mutual Life Assurance (FML) managers set up an employee mortgage scheme and an employee staff loan scheme without the knowledge of the board, resulting in policyholders being prejudiced of more ...Published: 21 Mar 2024 at 19:45hrs | 2 | by Staff reporter
Mnangagwa niece's legacy woes haunt ZBC
THE Zimbabwe Broadcasting Corporation (ZBC) is grappling with serious management challenges linked to Helliate Rushwaya - the newly appointed board chair - during her tenure as the acting chief execut...Published: 10 Mar 2024 at 06:51hrs | 26 | by Staff reporter
BCC to raid properties for revaluation
BULAWAYO City Council (BCC) has launched its 2024 general revaluation and assessment of properties programme with evaluators set to make scheduled visits across the city to be able to charge accurate ...Published: 24 Jan 2024 at 19:34hrs | | by Staff reporter
Zimdollar worse off since 2022
THE local currency, the Zimbabwean dollar, has continued to depreciate against the United States dollar on an unrestrained trajectory, despite various measures implemented by the Reserve Bank of Zimba...Published: 03 Dec 2023 at 19:20hrs | 13 | by Tinashe Duma
Brain drain hits Lupane University
Lupane State University (LSU) has faced significant staff turnover in the past two years due to the challenging economic environment, leading to a departure of professionals from the institution. This...Published: 29 Oct 2023 at 12:38hrs | 27 | by Staff reporter
Will the new ‘ZiG' ‘gold backed' digital currency alleviate Zimbabwe's currency stability woes?
THE chronic problem of Zimbabwe's economy has its roots in the land reform activities that began more than 30 years ago.The principle of ‘ethnic balance' in land ownership was fair. The prob...Published: 08 Oct 2023 at 08:02hrs | 2 | by John Mc Keown
EcoCash posts $4,76bn loss
ECOCASH Holdings Zimbabwe Limited (EHZL) has posted a $4,76 billion loss for its financial year ended February 28, 2023 owing to monetary exchange losses worth $30,1 billion linked to its failure to r...Published: 02 Jun 2023 at 06:44hrs | 2 | by Staff reporter
Low tariffs chew into Econet earnings
ECONET Wireless Zimbabwe (EWZ) has posted a near $17 billion loss for the year ended February 28, 2023, owing to a 317,14% increase in exchange losses during the period as the local currency tumbled....Published: 01 Jun 2023 at 06:45hrs | 1 | by Staff reporter
Master of High Court backs Telecel rescue
THE Master of the High Court has backed the application by the Communications and Allied Workers Union (CAWUZ) seeking to place the cellular services company, Telecel Zimbabwe, under corporate rescue,...Published: 26 May 2023 at 06:31hrs | 17 | by Staff reporter
Auditors condemn Edgars financial results
DELOITTE and Touche Zimbabwe auditors have condemned Edgars Stores Limited financial results for the year ended January 8, 2023, saying they failed to comply with International Financial Reporting Sta...Published: 14 May 2023 at 11:37hrs | 3 | by Staff reporter
Zimplats splurges US$270m on capital projects
Zimplats says it has expended in excess of US$270 million on capital projects in 2022, nearly 70% up on the US$159,1 million spent in the previous year.These include stay-in-business, re...Published: 07 Sep 2022 at 06:43hrs | 2 | by Staff reporter
Gweru embarks on property revaluations
GWERY City Council (GCC) has begun revaluation of its non-domestic properties to come up with a valuation roll for ease of billing, Southern Eye has learnt.Council last carried out a similar e...Published: 03 Aug 2022 at 06:46hrs | 3 | by Staff reporter
Zimra builds main office in Bulawayo
THE Zimbabwe Revenue Authority (Zimra) has started the construction of its main offices in Bulawayo, set to house all its operations as the tax collector seeks to improve efficiency.Work on th...Published: 24 Jul 2022 at 09:59hrs | 18 | by Staff reporter
BCC seeks valuation roll extension
THE City Council (BCC) has asked for more time to evaluate its properties after it missed government's December 21, 2021, deadline.Valuation of property enables the local authority to know the...Published: 27 May 2022 at 06:43hrs | 5 | by Staff reporter
NRZ assets revalued to US$3 billion
NATIONAL Railways of Zimbabwe (NRZ)'s assets have been revalued at over US$3 billion, meaning the parastatal is not insolvent as previously alleged, a senior official said.Previously, the Stat...Published: 23 May 2022 at 06:35hrs | 3 | by Staff reporter
Foreign currency deposits continue to surge
FOREIGN currency deposits in local banks continue to increase in a development indicating growing confidence in the country's banking sector, latest Reserve Bank of Zimbabwe (RBZ) data has reveals....Published: 11 Apr 2022 at 06:39hrs | 10 | by Staff reporter
Foreign currency deposits hit US$1,94 billion
FOREIGN Currency Accounts (FCA) deposits grew by 103,13% in 2021, latest statistics from the Reserve Bank of Zimbabwe (RBZ) show.FCA balances grew from US$1,27 billion in December 2020 to US$1...Published: 27 Feb 2022 at 07:25hrs | 10 | by Staff reporter
RBZ tells banks to shape up or ship out
BANKING sector experts have thrown their weight behind the Reserve Bank of Zimbabwe (RBZ)'s move to tighten screws on operators that fail to comply with new minimum capital requirements, which came in...Published: 18 Feb 2022 at 05:34hrs | 2 | by Staff reporter
RBZ comes hard on bank shareholders
SHAREHOLDERS at financial institutions that have failed to meet new minimum capital requirements will forgo dividends until their firms comply with the central bank's directives, the Reserve Bank of Z...Published: 08 Feb 2022 at 05:37hrs | 4 | by Staff reporter
Zimbabwe banks punch above their weight, says report
ZIMBABWE'S banks are overvalued, trading above their historical average multiples as well as above comparable regional banks in more stable economic environments, research firm, IH Securities, said ye...Published: 01 Oct 2021 at 08:01hrs | 3 | by Staff reporter
Zesa pension fund opts for merger
BOARD of directors at the embattled Zesa Holdings Pension Fund (ZESAPF), battling a ZW$2,4 billion (US$28,5 million) actuarial deficit, are now opting for a merger with the Zimbabwe Electricity Indust...Published: 02 Jul 2021 at 19:36hrs | 55 | by Staff reporter
'Banks must pay interest on deposits'
THE Zimbabwe Coalition on Debt and Development (Zimcodd) has rejected claims by banks that they cannot pay interest on deposits because they are not making profit, arguing domestic financial instituti...Published: 11 Mar 2021 at 06:26hrs | | by Staff reporter
Zimbabwe banks weather the storm
ZIMBABWE'S banking institutions remained profitable during the year ended December 2019, reporting net income of $6,4 billion, an improvement from $389,9 million reported during the corresponding peri...Published: 20 Dec 2020 at 07:04hrs | 2 | by Staff reporter
Depositors and pensioners to be compensated for exchange losses, says Mthuli Ncube
Depositors with small bank balances and pensioners whose savings were wiped out by currency changes last year will be compensated from a US$150 million fund, finance minister Mthuli Ncube said on Thur...Published: 27 Nov 2020 at 07:56hrs | | by Staff reporter
Bank adopts new strategy
FIRST Capital Bank, formerly Barclays Bank Zimbabwe, has adopted an 'ever-changing' strategy going forward due to the monetary policy changes made in the country this year.This comes as banks ...Published: 04 Sep 2019 at 08:41hrs | | by Staff reporter
Nssa squanders millions on luxuries
THE National Social Security Authority (Nssa) splashed millions of dollars on bad investments, luxuries for board members and hefty salary perks for executive management, at a time when pensioners wer...Published: 04 Aug 2019 at 10:02hrs | 2 | by Staff reporter
Interbank rate sparks row
Aspindale Park owners, Marimba Industrial Properties Limited, have come under fire from homeowners who purchased stands at their property after it allegedly revalued outstanding instalments for stands...Published: 19 Mar 2019 at 06:27hrs | | by Staff reporter
Mthuli Ncube told to let the bond float
GOVERNMENT should not peg the exchange rate of the bond note, allowing it to float freely within the multi-currency system as a first step towards the introduction of a proper local currency, a local ...Published: 30 Sep 2018 at 19:01hrs | | by Staff reporter
What does investment look like on the ground in Zimbabwe?
LAST week I was at the African Studies Association of the UK (ASA) conference in Birmingham. I was co-hosting, with my colleague Jeremy Lind (whose earlier blog this one draws from), a fantastic strea...Published: 18 Sep 2018 at 06:31hrs | 7 | by Ian Scoones
$6m ethanol project takes shape
The National Oil Infrastructure Company of Zimbabwe (NOIC) is targeting to complete the construction of two ethanol storage tanks with capacity of 6 million litres at its Mabvuku Depot in Harare by en...Published: 17 Sep 2018 at 06:39hrs | 1 | by Staff reporter
Pensioners suffer massive prejudice
THE Government-appointed Commission of Inquiry probing the conversion process of pension and insurance benefits after dollarisation in 2009 has wound up its work and will have a comprehensive repo...Published: 29 Jan 2017 at 09:24hrs | 4 | by Staff reporter
Pressure grows on Buhari to devalue Naira
The visit of International Monetary Fund (IMF) chief Christine Lagarde to Nigeria has placed an uncomfortable spotlight on the fiscal woes of Africa's biggest oil producer as the pressure on President...Published: 08 Jan 2016 at 16:38hrs | 1 | by Ihechukwu Njoku
TB Joshua's alarming 2016 predictions
Controversial Nigerian 'Prophet' T.B. Joshua has released a list of bleak predictions for the New Year 2016, particularly directed towards the continent of Africa.Known for his unconventional ...Published: 01 Jan 2016 at 08:40hrs | 1 | by Ihechukwu Njoku
'Ex-Japanese cars cause cancer'
Zimbabwe Union Of Journalists Secretary General Foster Dongozi has claimed that ex-Japanese vehicles that are flooding the country cause cancer.Dongozi said Japan is still affected by the ef...Published: 20 Aug 2015 at 13:13hrs | 7 | by Thobekile Zhou
Car imports to Zimbabwe down
THE volume of imported second hand vehicles passing through Chirundu border post has significantly declined in recent months amid concerns over high duty charged and some related costs.The hi...Published: 29 Jun 2015 at 09:57hrs | | by Staff reporter
Improved underwriting profits boosts TA Holding's performance
TA Holdings' operating income grew 234% to $5.5 million due to improved underwriting profits from the insurance company, CEO Gavin Sainsbury told an analysts briefing yesterday. This res...Published: 09 Apr 2013 at 12:19hrs | 1 | by Business reporter
Willdale to ramp up capacity to 60% by end of year
Willdale is on the verge of realising efforts of the last 5 months under the new strategic plan with the production capacity rising to 20% and is looking at 30% next month as the drier s...Published: 27 Mar 2013 at 15:39hrs | 2 | by Staff Reporter
TSL Limited earnings up 143% on improved efficiencies
TSL Limited is planning to broaden its logistics business as they have an ambition to operate regionally, as stated by the group's chief executive officer Washington Matsaira at an analyst briefing ye...Published: 31 Jan 2013 at 13:28hrs | 2 | by Business reporter
Hwange Colliery reports a depressed set of financials
Hwange reported a depressed set of financials showing a 37% decline in attributable earnings to $3.9 million. The poor performance can be attributed to the increase in overhead costs against st...Published: 29 Mar 2012 at 12:10hrs | | by Business reporter
Hwange Colliery incurs a $1.5 million loss
Hwange's sales revenue for the six months to 30 June 2011 was $48.6 million, 8% above the $45.2 million revenue recorded during the same period last year. The Company incurred an unaudited net ...Published: 28 Sep 2011 at 09:09hrs | | by Nare Msupatsila
Hwange Colliery posts a depressed set of results
Hwange posted a depressed set of results for the 2011 interim period, showing an attributable loss of $1.5 million versus a profit of $4.5 million the prior period. The poor performance can be attrib...Published: 22 Sep 2011 at 15:35hrs | | by Business reporter
TA posts an improved operating result
TA posted an improved operating result to record an attributable profit of $1.2 million from a loss of $1.1 million. Revenue growth of 17% year on year was driven by a 32% increase in hotel revenues a...Published: 02 Sep 2011 at 07:41hrs | 2 | by Business reporter
Zimnat emerge with zest from economic downturn
The insurance industry suffered unprecedented negative effects from the economic contraction and hyperinflation that besieged Zimbabwe in the past decade. Insurance companies had to coin survival stra...Published: 20 Jun 2011 at 06:57hrs | | by .
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