Zimbabwe

Zimbabwe

NRZ in Lucrative Deal?

Rail India Technical and Economic Service (RITES) recorded a 2% jump in its share price on the National Stock Exchange of India Limited (NSE) on the 16th of June, 2023, after signing an US$81.2 millio

Jun 16, 2023
Zimbabwe
RBZ’s Auction Allotments Hit US$4 Billion, But Still Fails to Meet its Mandate

The Reserve Bank of Zimbabwe says the Foreign Exchange auction Market has allotted US$4.082 billion to companies since its inception in 2020 to May 2023.  The Foreign Exchange Auction Market was intr

 Jun 16, 2023
Zimbabwe
Grain Millers Association of Zimbabwe Sweats Over Currency Volatility

The Grain Millers Association of Zimbabwe (GMAZ) has incurred over US$66 million in exchange losses due to the rapid depreciation of the local currency.  GMAZ accounts for 95% of the national supply

 Jun 16, 2023
Zimbabwe
PPC Releases Trading Update, Projects Drop in Earnings

Trading conditions remained difficult in South Africa, PPC’s largest market, with cement volumes down 5.8% although selling prices rose 8%. The smaller materials business suffered an EBITDA loss of R6

 Jun 16, 2023
Zimbabwe
RBZ releases report on foreign exchange auction allotments and payments for May 2023

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

 Jun 16, 2023
World
South African Rand Surge Ahead of Fed Decision

OPEC+ has Made a decision to maintain production levels at current levels despite widening supply gaps in the market. The decision comes at a time China is expected to see spikes in demand as the late

 Jun 15, 2023
Zimbabwe
ZSE Plunges as Investors Panic

On Tuesday, the 13th of June, the Zimbabwe Stock Exchange (ZSE) halted a bull-run that had stretched to 22 consecutive sessions under which the market garnered 208% nominal gains. The mainstream ZSE A

 Jun 14, 2023
Zimbabwe Dollar Hits All-Time Record Low on Formal Market

The embattled local currency, the Zimbabwe dollar has depreciated by 38% against the greenback, a record low since the currency was reintroduced in 2019. A record depreciation was lastly recorded in

Jun 14, 2023
Namibia Follows Zimbabwe's Lead and Bans Export of Critical Minerals

Namibia's decision to ban the export of unprocessed critical minerals and Zimbabwe's ban on lithium ore exports are steps towards maximizing the benefits of critical minerals for their respective coun

Jun 13, 2023
Hanke Ranks Zim’s Inflation Above 1000%

Zimbabwe’s inflation rate, year-on-year surpassed 1000% to 1220% according to Steve Hanke’s latest inflation figures.  This is against Zimbabwe’s 86.54% year-on-year inflation rate  from the Central

Jun 12, 2023
Corporate Action Summary

Banking company, ZBFH, issued a notice to shareholders and other stakeholders about its 34th Annual General Meeting (AGM) which will be held virtually via ZOOM on Friday, the 30th of June, 2023 at 103

Jun 12, 2023

Understanding Circuit Breakers: ZSE implements cool-off periods

Since the beginning of June, the Zimbabwe Stock Exchange (ZSE) has instituted a trading halt in more than two sessions. A 30-minutes cooling off period is typically implemented when the mainstream ZSE

Jun 09, 2023

FBC Holdings Limited Acquires Standard Chartered's Business in Zimbabwe

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

Jun 08, 2023

South African Rand Holds Steady Amidst Positive Momentum

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

Jun 08, 2023

New Measures to Counter New Measures: RBZ changes stance on Monetary Policy

Following the implementation of economic measures announced on 11 May 2023 and 29 May 2023 respectively, the Central Bank introduced new measures on the 6th of June, 2023 meant to curtail exchange rat

Jun 07, 2023

Malawi Stock Exchange: A Bright Spot in Africa's Capital Market

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

Jun 06, 2023

Corporate Action Summary

First Mutual Properties Limited also announced that its 20th AGM of members will be held at 0930 hours on Tuesday, 27 June, 2023 at First Mutual Office Park, 100 Borrowdale Road, Harare. Among the res

Jun 05, 2023

Sweet Entry into the Chinese Market: Zimbabwean Citrus Farmers Find Solace

China consumed over 54 million tonnes of citrus fruits in 2021, accounting for about 34% of total citrus consumption globally. The sheer size of the Chinese market signals a huge export potential for

Jun 05, 2023

The Rise of China's Influence in the Global Metals Market: How the Loss of Benchmark Status by the LME may impact Zimbabwe

In a major shake-up for the global metals market, the London Metal Exchange (LME) has lost its benchmark status for a part of the nickel market. According to a report by Bloomberg News, the Shanghai M

Jun 05, 2023