Zimbabwe

Zimbabwe

Zimbabwe Dollar Trims Weekly Losses by 24% on Formal Market, Widens Premium by 31%

The embattled Zimbabwe dollar shed by 14% on the latest Auction Market held on the 20th of June 2023. Though the currency continues to register double digits decline, the latest performance was the b

Jun 21, 2023
Zimbabwe
ZSE Loses its Status as a Safe Haven for Currency Hedge as Inflationary Pressures Worsen

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 20, 2023
Zimbabwe
PPC Zimbabwe: Overcoming Challenges and Poised for Growth in Zimbabwe's Cement Sector

According to the update, PPC Zimbabwe's sales volumes declined by 16% compared to the same period last year due to planned kiln maintenance shutdowns in the first half of the financial year and freque

 Jun 20, 2023
Zimbabwe
Bank of Namibia raises interest rates to safeguard currency peg, despite impact on consumers

Windhoek - The Bank of Namibia's decision to increase the repo rate by 50 basis points, from 7.25% to 7.75%, with immediate effect, has left many Namibian consumers struggling to survive. The repo rat

 Jun 19, 2023
Zimbabwe
Rand Soars to One -Month High Amid Easing Temporary Power Failure

The South African Rand roared to 18.4 against the greenback on the 19th of May 2023, its highest in over a month. At that performance, the Rand surpassed the Zambian Kwacha, Kenyan Shilling and Nigeri

 Jun 19, 2023
Zimbabwe
Corporate Action Summary

Padenga Holdings Limited issued a Cautionary Statement on the 16th of June, 2023, advising shareholders and members of the public that the Company is considering the re-organization of the affairs of

 Jun 19, 2023
Zimbabwe
Gvt’s Economic Gamble: A Matter of Confidence Deficit and Fiscal Implosion

Following two months of enforcing economic measures to stabilise the local currency with the latest penalties enforced on the 14th of June targeting retailers who surge prices in Zimbabwe dollars, th

 Jun 19, 2023
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
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
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
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

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

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

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