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EcoCash to invest in banking technologies
EcoCash Holdings Zimbabwe Limited (EcoCash) plans to invest in technologies to expand its banking unit, Steward Bank, after transferring its fintech firms to Econet Wireless Zimbabwe. This move was ap...Published: 02 Jul 2024 at 11:16hrs | 7 | by Staff reporter
47 farms earmarked for new city
FORTY-SEVEN farms in Mashonaland West and Mashonaland Central provinces have been earmarked for the development of the new capital city in Mt Hampden, where work on core infrastructure, which includes...Published: 10 Mar 2024 at 06:24hrs | 15 | 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
EcoCash overturns loss into profit
EcoCash Holdings Zimbabwe Limited (EHZL), a FINTECH company, successfully transformed its financial performance, turning a loss into a profit of ZWL$130.19 million after tax for the half-year ending A...Published: 13 Nov 2023 at 05:47hrs | 6 | by Staff reporter
Econet, EcoCash announce rights offer
LISTED telecoms firm Econet Wireless Zimbabwe Limited (EWZL) and its subsidiary EcoCash Holdings yesterday announced a renounceable rights issue to raise US$30,3 million for the redemption of existing...Published: 25 Jul 2023 at 08:23hrs | | 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 | | by Staff reporter
Econet, EcoCash seek to raise US$60 million
Zimbabwe's largest telecommunications firm, Econet and its sister company EcoCash Holdings are planning to raise US$30,3 million each from shareholders to redeem outstanding debentures.The deb...Published: 09 Jun 2023 at 06:33hrs | | by Staff reporter
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 | | by Staff reporter
Zimbabwe telcos in another staggered price review
ZIMBABWE'S main telecommunication companies are set for another price adjustment on April 1, 2023, as operator battle to offset rising operational costs.The telecoms industry will review tarif...Published: 21 Mar 2023 at 20:24hrs | 2 | by Staff reporter
Zimbabwe developing a new US$60bn capita city
Plans to develop Zimbabwe's new capital city in Mt Hampden are gathering momentum, with a masterplan for the multi-billion-dollar ultra-modern development now complete.The US$60 billion metrop...Published: 31 Jul 2022 at 08:10hrs | 5 | by Staff reporter
Sustainable reforms now key to foreign exchange market
The Reserve Bank of Zimbabwe (RBZ) recently announced that it is on course to clear the backlog of foreign exchange auction allotments which date back to as far as three months and amounting to about ...Published: 08 Oct 2021 at 19:03hrs | 8 | by Victor Bhoroma
Mystery of Kuda Tagwirei's assets in Zimbabwe revival plan
In December, the government of Zimbabwe announced a multibillion-dollar project called Kuvimba Mining House Ltd. that would hold some of the nation's most valuable gold, platinum, chrome and nickel mi...Published: 11 May 2021 at 09:02hrs | 7 | by Staff reporter
Currency crisis costs Cassava $2 billion
TECHNOLOGIES giant, Cassava Smartech says it suffered $2 billion in exchange losses during its first full year of operations after the volatile Zimbabwe dollar struggled to hold its turf against the g...Published: 09 Nov 2020 at 06:57hrs | | by Staff reporter
Strive Masiyiwa stole Econet share, his lawyer responds
Prominent businessman and formerly Strive Masiyiwa's lawyer Tawanda Nyambirai has issued a lengthy and heated response to the allegations that the Zimbabwean dollar billionaire should not have ended u...Published: 08 Jan 2019 at 23:11hrs | 1 | by Staff reporter
Strive Masiyiwa's Econet stranglehold challenged as shareholder tussle breaks out
AFTER years of brutal hyperinflation, Zimbabwe became known as a place where cash was almost worthless. Now, investors are fighting over EcoCash, the country's homegrown PayPal-like service that has z...Published: 03 Jan 2019 at 09:32hrs | | by Gabriele Steinhauser I The Wall Street Journal
Giant leap for Cassava
ECONET Wireless Zimbabwe's spin-off Cassava Smartech Zimbabwe Limited (CSZL) will finally list on the Zimbabwe Stock Exchange (ZSE) on Tuesday after the Strive Masiyiwa-owned telecommunications giant ...Published: 16 Dec 2018 at 10:50hrs | | by Staff reporter
Shareholders approve Cassava demerger, separate listing
SHAREHOLDERS of Econet Wireless have approved the demerger of Cassava SmarTech from Econet Wireless Zimbabwe Limited, paving the way for the listing of a new diversified technology business called Cas...Published: 03 Dec 2018 at 07:19hrs | | by Staff reporter
We told you so!
SOMETIMES it's nice to be right, that does not often happen, but in this case I am sorry that those of us who had said we are headed for trouble, were right.I am referring to the first stateme...Published: 18 Oct 2018 at 06:59hrs | | by Eddie Cross
'Econet revenue to drop 8.9%'
ECONET Wireless Zimbabwe's revenue is set to tumble 8,9% year-on-year to $584 million in 2017 before waning further in 2018 on the back of economic headwinds and regulatory interventions, stockbrokers...Published: 03 May 2017 at 06:51hrs | | by Staff reporter
Zanu-PF leading Zimbabwe back to 2008
SINCE the end of 2015, the country has seen its cash crisis escalate to the point today when Banks cannot pay out clients more than a small proportion of what is in their accounts.In a "no...Published: 15 Mar 2017 at 07:29hrs | 1 | by Eddie Cross
Controversy rocks Econet meeting
THERE was drama at Econet Wireless Zimbabwe's extraordinary general meeting (EGM) when state-run National Social Security Authority (Nssa), together with other shareholders and proxies, took the m...Published: 11 Feb 2017 at 14:32hrs | | by Staff reporter
Chirume faces ZSE chop, sent on forced leave
ALBAN Chirume, the chief executive officer (CEO) of the Zimbabwe Stock Exchange (ZSE), who was suspended this week for sanctioning a listed entity's cash call, despite reservations from the listing co...Published: 09 Feb 2017 at 05:37hrs | 1 | by Staff reporter
ZSE sent CEO on leave over Econet saga
The Zimbabwe Stock Exchange (ZSE) yesterday sent its CEO Alban Chirume on an indefinite leave to pave way for investigations after Econet Wireless Zimbabwe disregarded a directive from the regulat...Published: 07 Feb 2017 at 09:32hrs | | by Staff reporter
ZSE plots to crack whip on defiant Econet
The Zimbabwe Stock Exchange (ZSE) will meet today to deliberate on what action to take after Econet Wireless Zimbabwe defied the regulator by going ahead with its extraordinary general meeting (EG...Published: 06 Feb 2017 at 09:11hrs | | by Staff reporter
Econet shareholders approve rights issue
ECONET Wireless Zimbabwe shareholders last Friday passed all six resolutions relating to its proposed $130 million capital raise exercise after it proceeded with its extraordinary general meeting ...Published: 06 Feb 2017 at 05:36hrs | 1 | by Staff reporter
Econet EGM going ahead despite
Econet Wireless Zimbabwe has set itself up for a fight with the Zimbabwe Stock Exchange after it said its extra-ordinary general meeting set for tomorrow will proceed as planned. ...Published: 02 Feb 2017 at 09:41hrs | | by Staff reporter
Econet loses 400 000 subscribers
Over 400 000 subscribers deserted Econet Wireless Zimbabwe between July and September last year, latest Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) statistics have indicate...Published: 02 Feb 2017 at 06:18hrs | | by Staff reporter
Storm over Econet $130 million rights offer
Pension funds say the $130 million rights issue by Econet Wireless Zimbabwe will dilute their shareholding, as they cannot follow their rights, warning the exercise will impoverish pensioners and ...Published: 02 Feb 2017 at 05:51hrs | | by Staff reporter
Econet shareholders lose $100 million in 10 days
Econet Wireless Zimbabwe stockholders have lost over $100 million in shareholder value in 10 days due to selling pressure ahead of a capital raising initiative which is set to dilute minorities....Published: 29 Jan 2017 at 09:27hrs | | by Staff reporter
Econet summoned over contentious issues
THE Zimbabwe Stock Exchange (ZSE) on Tuesday summoned mobile network operator Econet Wireless Zimbabwe over contentious issues in its US$130 million rights offer after the country's capital market...Published: 27 Jan 2017 at 12:06hrs | | by Staff reporter
Econet Zimbabwe share prices tumble 10%
ECONET Wireless Zimbabwe shares tumbled 10 percent to 27 cents on Thursday amid panic selling by small shareholders, over concerns surrounding the telecoms company's planned rights issue to raise ...Published: 23 Jan 2017 at 05:49hrs | | by Staff reporter
Econet in controversial $130m rights issue
ECONET Wireless Zimbabwe is planning to raise $130 million through a controversial rights offer and linked debentures in order to service its foreign debt. In a circular released yesterday, Econet...Published: 18 Jan 2017 at 06:01hrs | | by Staff reporter
ZSE prepares listing of debt instruments
The Zimbabwe Stock Exchange is at an advanced stage in preparations for the listing of debt instruments on the bourse which will offer the market a wider array of tradable securities beyond just s...Published: 28 Aug 2015 at 07:12hrs | | by Staff reporter
Zimbabwe slowdown hits London listed Masawara
Jersey registered and London listed Masawara posted an after-tax losses of $9.3m for the the year to the end of December after a financial performance which, it said, was below expectations.M...Published: 29 Jun 2013 at 12:49hrs | | by StockMarketWire
Lobels invest US$3,6 million on refurbishing
Lobels Holdings will soon invest US$3,6 million on refurbishing and replacing its Harare and Bulawayo plants with a view to significantly ramp up production. The country's oldest bakery has reportedly...Published: 24 Jan 2012 at 21:03hrs | | by Staff reporter
Lobels secures a foreign investor
The bread maker, Lobel's Holdings Limited is reported to have secured a foreign investor to resuscitate the cash-strapped group, Daily News reported on Friday.Lobel's financial advisors CBZ Ba...Published: 02 Sep 2011 at 11:52hrs | | by -
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