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NMBZ finalises US$70m external credit lines
Zimbabwe Stock Exchange-listed financial services group NMBZ Holdings is on the verge of securing external lines of credit worth over US$70 million, as part of its broader strategy to unlock US$100 mi...Published: 19 May 2025 at 09:19hrs | 84 | by Staff reporter
FBC blames tight policy for choking transaction volumes
Financial services giant FBC Bank has attributed a sharp decline in transaction volumes to the Reserve Bank of Zimbabwe's (RBZ) continued tight monetary policy, which it says has squeezed liquidity an...Published: 16 May 2025 at 09:50hrs | 72 | by Staff reporter
Zimbabwe to get first dollar-listed REIT as property heats up
Zimbabwe is set to get its first dollar-denominated real estate investment trust listing on Friday, as demand for property stocks grows.Eagle REIT is seeking to raise $62 million from the list...Published: 15 May 2025 at 09:58hrs | 776 | by Staff reporter
CBZ hails Zimbabwe's less volatile economy
CBZ Holdings Limited has praised Zimbabwe's improving economic environment and easing inflationary pressures, which have played a key role in the financial institution achieving a profit of ZWG537.5 m...Published: 30 Apr 2025 at 07:15hrs | 164 | by Staff reporter
OK Zimbabwe begins restocking after weeks of empty shelves
Troubled retailer OK Zimbabwe has announced that it has started restocking its outlets following weeks of empty shelves and temporary closures due to macroeconomic challenges, particularly exchange ra...Published: 17 Feb 2025 at 12:37hrs | 1675 | by Staff reporter
South Africans kiss Pick n Pay stores goodbye
South Africa's Pick n Pay retailer is facing mounting challenges as it continues to shut down both company-owned and franchise stores across the country, with many South Africans bidding farewell to t...Published: 11 Feb 2025 at 10:05hrs | 6495 | by Staff reporter
Delta challenges US$73 million tax assessments by ZIMRA
LISTED beverages giant, Delta Corporation Limited, is contesting tax assessments issued by the Zimbabwe Revenue Authority (ZIMRA) for amounts the company believes should have been payable exclusively ...Published: 30 Jan 2025 at 06:38hrs | 290 | by Staff reporter
Econet in aggressive 5G roll out
Econet Wireless Zimbabwe (EWZ), the country's leading mobile network operator, is continuing its aggressive rollout of 5G base stations as part of its strategy to solidify its position in the increasi...Published: 20 Nov 2024 at 07:08hrs | 668 | by Staff reporter
NMBZ turns to Rabobank for agric financing
NMBZ Holdings Limited, a leading financial services group, has announced a strategic partnership with Rabobank, a Dutch multinational specializing in banking and financial services, to implement an en...Published: 19 Nov 2024 at 08:49hrs | 235 | by Staff reporter
Innscor engages govt over tax
Innscor Africa Limited has raised concerns over high taxes and their detrimental impact on the company's profitability, warning that the escalating cost-push pressures are putting a strain on its fina...Published: 18 Nov 2024 at 15:06hrs | 196 | by Staff reporter
IMF to visit Zimbabwe next month
The International Monetary Fund (IMF) is scheduled to visit Zimbabwe this month for its Article IV consultation mission amid concerns about the country's economic trajectory. The mission will ...Published: 09 Jun 2024 at 09:10hrs | 1 | by Staff reporter
Bakers Inn to build second plant in Bulawayo
Baker's Inn, a division of Victoria Falls Stock Exchange-listed Innscor Africa, is expanding its operations by adding a second plant to its Belmont factory in Bulawayo.The company recently com...Published: 22 May 2024 at 09:33hrs | 36 | by Staff reporter
Zimbabwe forex policy chokes exporters
LISTED agricultural concern Ariston Holdings says the 25% export retention coupled with the huge disparity between the interbank exchange rate and the fair market rate used by suppliers is making some...Published: 31 Jan 2024 at 06:59hrs | 1 | by Staff reporter
Econet calls for balanced regulation
ECONET Wireless Zimbabwe has called for balanced regulation in the telecommunications sector, given the rising operational costs driven by inflation and the shift to using the greenback.In a t...Published: 22 Jan 2024 at 10:13hrs | 1 | by Staff reporter
Zimdollar maintains stable range on RBZ Auction, parallel market
The Zimbabwean dollar has maintained a stable range on both the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction and the parallel market platforms in recent weeks, according to a trading update...Published: 23 Nov 2023 at 05:45hrs | 2 | by Staff reporter
Zimdollar weakens by 0.75%
The Zimbabwean dollar (ZWL) experienced a slight 0.75% depreciation on the Reserve Bank of Zimbabwe's (RBZ) Foreign Exchange Auction this week. This was due to a substantial allocation of foreign curr...Published: 11 Oct 2023 at 06:30hrs | 2 | by Staff reporter
Zimbabwe companies edgy ahead of next week's elections
Zimbabwean companies – among them the local unit of South Africa-listed Nampak – are holding their breath as business uncertainty pervades the southern African country ahead of elections next week...Published: 19 Aug 2023 at 16:29hrs | 2 | by Staff reporter
Nampak cashes in on Zimdollar scarcity
PACKAGING materials supplier Nampak Zimbabwe says it has benefited from improved United States dollar collections during the third quarter ended June 2023 on the back of constrained local currency liq...Published: 16 Aug 2023 at 06:48hrs | 12 | by Staff reporter
Zimdollar recovery diminishes telecommunications services providers' tariff hikes prospects
THE steady recovery of the ZW$ in recent weeks almost diminishes recent calls by mobile telecommunications services providers, making it difficult to ascertain where exactly to place the peg.T...Published: 20 Jul 2023 at 06:49hrs | 3 | by Staff reporter
Econet upgrades 70% of Bulawayo base station sites
LEADING telecoms company, Econet Wireless Zimbabwe upgraded 70 percent base station sites in Bulawayo in the period ending 31 May as it also plans to upgrade the radio network in Bulawayo and other ci...Published: 19 Jul 2023 at 06:39hrs | 2 | by Staff reporter
'Greedflation' rocks Zimbabwe
THE ZW$ gained by 4,8% on the Reserve Bank of Zimbabwe Foreign Exchange Auction Tuesday amid concerns that most retailers remain reluctant to reduce prices of basic goods.A trading update rele...Published: 12 Jul 2023 at 08:13hrs | 2 | by Staff reporter
Zimdollar in first time gain on RBZ Auction
THE ZW$ value firmed up by 8,6% on the Reserve Bank of Zimbabwe Auction platform , signalling improved widespread usage of the local currency on the back of the economy's swift response to economic me...Published: 28 Jun 2023 at 20:27hrs | 2 | 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
Zimdollar takes a heavy knock on RBZ Auction
THE Zimdollar tumbled by 43% on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction market effectively closing the parallel market gap which had become a source for market arbitrage in recent ...Published: 06 Jun 2023 at 17:58hrs | 3 | by Staff reporter
Power outages dent RioZim production
GOLD production at Cam & Motor Mine — one of RioZim Limited's flagship operations — increased 92% in the first quarter of this year on the back of the Biological Oxidation (BIOX) plant that ca...Published: 25 May 2023 at 06:27hrs | 1 | by Staff reporter
ZB expands its services to Botswana
THE ZB Financial Holdings Limited (ZB) has expanded its services to neighbouring Botswana as it seeks to grow its regional presence, it has been revealed.Last month, the group announced that i...Published: 24 May 2023 at 06:04hrs | 6 | by Staff reporter
Zimbabwe and SA telcos hit hard by worsening energy crisis in the region
Telecommunication companies have been hit hard by the worsening energy crisis in the southern Africa region, which has seen daily national power grid electricity outages of up to 16 hours.The ...Published: 22 May 2023 at 19:48hrs | | by Staff reporter
Hwange Colliery to increase underground coal production
THE country's giant coal miner, Hwange Colliery Company Limited, has said it is expecting to increase underground production to 50 000 tonnes by mid-2023, following the commissioning of equipment valu...Published: 07 May 2023 at 07:45hrs | 22 | by Staff reporter
Zimdollar tanks
THE ZWL value breached the US$1: ZWL1,000 mark on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction this week in a development moving towards closing the gap created by the official market r...Published: 20 Apr 2023 at 07:39hrs | 1 | by Staff reporter
Zimdollar official rate converges with black market premium on RBZ Auction
THE Zimdollar official exchange rate has converged with the parallel market premiums while at the same time falling within internationally acceptable margins the Reserve Bank of Zimbabwe (RBZ) Foreign...Published: 15 Feb 2023 at 05:04hrs | | by Staff reporter
Econet faces foreign supplier payments headache
LISTED telecoms giant, Econet Wireless Zimbabwe says its ability to pay foreign suppliers and be in a position to modernise and embark on an expansion drive to meet changing customer needs is being cu...Published: 13 Feb 2023 at 05:17hrs | 7 | by Staff reporter
Scud to be revived
LISTED beverages producer, Delta Corporation Limited has said it is planning to revive its Scud beer brand to cover supply gaps on the market."There are ongoing efforts to optimise the availab...Published: 20 Jan 2023 at 06:42hrs | | by Staff reporter
Zimdollar loses grip against USD
THE local dollar lost its grip against the United States dollar at the Reserve Bank of Zimbabwe (RBZ)'s auction system, which resumed on Tuesday with the official exchange rate now pegged at US$1: $70...Published: 12 Jan 2023 at 07:38hrs | 39 | by Staff Reporter
Zimbabwe's capital markets collapse
DELTA Corporation CEO Matlhogonolo Valela has given graphic details about the frustrations that local firms have been enduring in accessing capital due to the country's difficult business environment....Published: 11 Sep 2022 at 15:21hrs | 2 | by Staff reporter
Zimdollar depreciates by 5, 8% on the RBZ Foreign Exchange Auction
THE Zimdollar value has depreciated by 5, 8% against the greenback on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction.Market watchers believe the development is a positive step whi...Published: 23 Aug 2022 at 19:49hrs | 3 | by Staff reporter
Zimdollar depreciation on parallel and RBZ markets eases
THE depreciation of the Zimbabwean dollar has begun to ease on both the parallel and official market following months of a sustained downward spiral which saw the local currency losing more than half ...Published: 18 Aug 2022 at 06:48hrs | 11 | by Staff reporter
Econet cuts physical airtime sales to 10%
ECONET Wireless Zimbabwe has reduced physical airtime sales to 10 percent in line with the Reserve Bank of Zimbabwe directive regarding the phasing out of physical airtime distribution by mobile netwo...Published: 08 Aug 2022 at 05:43hrs | 2 | by Staff reporter
Lager beer production seen up 11%
DELTA Beverages says its lager beer portfolio is performing ahead of prior year, with a target to produce more than two million hectolitres this year, up 11% compared to prior year.Last year, ...Published: 04 Aug 2022 at 06:43hrs | 1 | by Staff reporter
EcoCash records modest growth in first quarter
ECOCASH Holdings Zimbabwe Limited recorded modest growth in the first quarter to May 31, 2022 supported mainly by the fintech business which remains the group's highest revenue contributor.In ...Published: 02 Aug 2022 at 06:43hrs | 1 | by Staff reporter
Zimdollar official exchange rate breaches $400 mark as black market around $800
THE Reserve Bank of Zimbabwe (RBZ) official exchange rate has reached ZW$403,40 against the greenback in a development experts believe to be prompted by market forces.A trading update released...Published: 20 Jul 2022 at 08:23hrs | 11 | by Staff reporter
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 | 2 | by Staff reporter
PPC sees annual Zimbabwe cement sales up 25%
PPC, Africa's biggest cement company, says cement sales in Zimbabwe grew 25% year-on-year up to March, on better-than-expected demand from individual buyers and government projects.Cement sale...Published: 25 Mar 2022 at 06:00hrs | 3 | by Staff reporter
Econet hit by power cuts
ZIMBABWE'S biggest mobile telecoms firm, Econet Wireless, says its operations have been rattled by rolling power cuts and extensive vandalism of its infrastructure.In a trading update for the ...Published: 23 Jan 2022 at 08:04hrs | | by Staff reporter
Edgars to expand online, branch network
LISTED clothing retailer, Edgars Stores Limited says it will expand its online, brick and mortar branch network in order to build resilience to withstand the impact of future shocks and disruptions....Published: 23 Nov 2021 at 05:49hrs | 9 | by Staff reporter
Official Zimdollar rate weakens by 1,9 % on the RBZ auction
THE official exchange rate recorded a slight decline of 1,9 % on the Reserve Bank of Zimbabwe (RBZ) foreign currency auction platform amid lucrative allotments to support the key productive sectors of...Published: 03 Nov 2021 at 05:14hrs | | by Staff reporter
Natfoods backs agriculture revival
Listed manufacturer, National Foods Holdings Limited (Natfoods) says the improved performance of the agriculture sector will reduce the need for imported raw materials.Natfoods is the country'...Published: 29 Oct 2021 at 07:47hrs | 11 | by Staff Reporter
Tobacco Sales Floor volumes rise 143%
ZIMBABWE'S biggest tobacco auction firm, Tobacco Sales Floor (TSF), says volumes rose by 143% during the third quarter ended July 31, 2021, in line with higher national output reported during the peri...Published: 23 Sep 2021 at 06:24hrs | 2 | by Staff reporter
Cassava revenue up 70%
CASSAVA Smartech Limited's revenue for the quarter ended August 31, 2021 increased by over 70% compared to the same period the previous year driven by growth in transaction activity.In a tradi...Published: 08 Sep 2021 at 06:11hrs | 16 | by Staff reporter
CFI hails RBZ for stabilising Zimdollar
AGRO- industrial concern, CFI holdings has hailed the Reserve Bank of Zimbabwe (RBZ) for putting in place measures aimed at reinforcing the stability of the local currency which have seen a decelerati...Published: 25 Aug 2021 at 08:33hrs | 1 | by Staff reporter
High demand for data strains Econet
Mobile network operator Econet Wireless Zimbabwe says increased demand for internet and data services has put pressure on its network, as businesses and individuals adopt remote working due to Covid-1...Published: 18 Aug 2021 at 06:42hrs | 2 | by Staff reporter
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