WITHIN hours of Emmerson Mnangagwa being inaugurated, Harry Greaves, executive director of Prospect Resources, got a call from the Ministry of Mines. The Government wanted to know how Arcadia Mine, a lithium project that had up...
SUGAR processor Star Africa Corporation’s successful debt restructure has helped the company attain a positive net asset value of $1 million in the 2018 financial year, from a net liability position of $41 million last year. A High Court-sanctioned reconstruction...
By Neville Mandimika UNDERSTANDING market nuances is everything in Africa and Zimbabwe’s newest currency — the bollar — is the epitome of idiosyncrasy. The bollar is the street name given to bond notes, the non-convertible currency introduced in November 2016, of...
SUGAR exports from Zimbabwe to the United States and regional markets declined 62 percent in the year ended March 2018, due to decreased production and increased local demand, industry giant Tongaat Hulett has reported. South Africa’s Tongaat Hulett dominates Zimbabwe’s...
ZIMBABWE'S economy requires commercial bridge loans, donor support, relief on its huge dollar-denominated debt and, ultimately, an IMF program. The first steps in this process began with the removal of Robert Mugabe (a long-standing obstacle to international re-engagement) and the...
BARCLAYS Bank Zimbabwe becomes First Capital Bank in October, shedding its century-old brand, but the bank has already abandoned its former conservatism, gorging on government securities in a manner it never did under its previous owners. FMB Capital of Malawi...
TURNALL Holdings reported its biggest half-year profit since dollarisation in the first half of 2018, driven by strong volume growth and an unlikely upswing in construction activity in the country. The company reported $1.4 million net profit, from a $295,000...
MASIMBA Holdings has reported a 55% jump in revenue in the first six months of 2018, driven by a strong order book. The contractor’s revenue rose to $17.95 million from $11.58 million in the same period of last year. “The growth...
THE Zimbabwe Stock Exchange hit its highest level since dollarisation on Wednesday, as investors seek a home for their money amid exchange rate volatility and inflation fears. The main industrial index hit 593.82 points, up 15.96 percent from Tuesday. The...
Delta Corporation says it owes foreign suppliers US$41 million, as surging demand continues to exert pressure on its forex needs. Delta’s products, especially carbonated soft drinks, have been in short supply and the situation worsened at the beginning of October...
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