Zimbabwe

Zimbabwe

Taxes Tsunami: Mthuli Ncube's Budget Deluge Drowns Struggling Economy

he budget proposed by Professor Mthuli Ncube, the Minister of Finance and Economic Development, for the year 2024 amounts to ZWL58.2 trillion. However, what has caught the attention of the business co

Dec 07, 2023
Zimbabwe
Corporate Action Summary

PPC Limited announced the appointment of Mr. Matias Cardarelli as Chief Executive Officer of the Group. He formally took over from Roland van Wijnen from 01 December 2023.

 Dec 04, 2023
Zimbabwe
The Bubblegum Currency: Year-to-Date Losses Skyrocket 87%

The beleaguered Zimbabwe dollar, has widened year to date deterioration rate by 87% from 86% last year against the United States dollar. In recent trading on Tuesday’s RBZ governed auction market, the

 Nov 23, 2023
Zimbabwe
Omnia Zimbabwe Challenges Tax Assessment on Foreign Currency Transactions

In a recent development, Omnia Zimbabwe, a prominent player in the chemicals industry, has contested an income tax assessment received from the Zimbabwean Revenue Authority (ZIMRA) on April 28, 2023.

 Nov 21, 2023
Zimbabwe
Broken, Crumbled, Eclipsed Wings: Air Zimbabwe's Leadership Roulette

Air Zimbabwe, the struggling national carrier, has appointed Edmund Makona as its new Chief Executive Officer (CEO). With 38 years of industry experience, Makona brings a wealth of expertise to the r

 Nov 20, 2023
Zimbabwe
Corporate Action Summary

NMBZ Holdings Limited announced the retirement of Mr. Benedict Chikwanha from the Board with effect from 31 December, 2023, after having served ten years on the board, nine of which he served as Board

 Nov 20, 2023
Zimbabwe
Zimbabwe Dollar Stays Stable Amidst Artificial Shortage

The Zimbabwe Dollar remained relatively stable in the latest auction market held on Tuesday, with minimal changes in its value. The exchange rate shifted from ZWL5738.7217 on November 7th to ZWL5755.7

 Nov 16, 2023
Zimbabwe’s Electricity Woes Pose Yuletide Gloom

Harare - Zimbabwe finds itself mired in an ongoing electricity crisis that shows no signs of abating, now expected to persist throughout the festive period. The situation is compounded by multiple fac

Nov 16, 2023
Corporate Action Summary

OK Zimbabwe Limited held its 22nd Annual General Meeting on the 2nd of November, 2023, where all the raised resolutions were passed. These notably include the confirmation of the payment of a final di

Nov 13, 2023
Tongaat Hulett charts new path

The impending sale of Tongaat Hulett, a prominent sugar conglomerate, has garnered significant attention as the company continues to grapple with a debt burden of approximately R7 billion. Under busin

Nov 06, 2023
Corporate Action Summary

Caledonia Mining Corporation announced that has changed its Nominated Adviser and Joint Broker from Cavendish Securities plc to Cavendish Capital Markets Limited. This follows the completion of the al

Nov 06, 2023

Zim dollar Sheds 0.4%, Premium Narrows to 40%

The Zimbabwe dollar maintained its depreciation rate of 0.4% during the latest auction market held on October 31, 2023. This resulted in the massaged currency being traded at a rate of 5718.4090 again

Nov 01, 2023

Corporate Action Summary

Simbisa Brands Limited announced that it will hold an Annual General Meeting (AGM) for stakeholders at 08:15 Hours on the 17th of November, 2023, at the Standards Association of Zimbabwe, Northend Clo

Oct 30, 2023

The Tuck-shop Economy: Government Dares Retailers

In Zimbabwe's struggling economy, where unemployment rates are reported to be as high as 75% according to NGO statistics and around 21% according to ZIMSTAT statistics, the retail industry plays a cru

Oct 30, 2023

October Inflation Jumps, Big Storm Lies Ahead

Zimbabwe's statistics agency, ZIMSTAT, says the month-on-month inflation rate in October 2023 increased to 2.5%, which is 1.5 percentage points higher than the September 2023 rate of 1%. This means th

Oct 27, 2023

Dark Days Ahead: Zimbabwe Plunged in Darkness

Zimbabwe is facing an extended period of blackouts as the power utility, Zimbabwe Electricity Supply Authority Holdings, announced that Unit 7 of the Hwange power plant will be taken offline for 30 da

Oct 26, 2023

Anglo American's Sustainability Progress Sets the Course for Sustainable Mining: Lessons for Zimbabwean Miners

As global awareness of the importance of sustainability continues to grow, large organizations like Anglo American plc are paving the way for responsible and sustainable mining practices. In their rec

Oct 25, 2023

ZWL Premium Widens by 43%, Exposes Zim Dollar Overvalued Gains

Zimbabwe’s ailing but massaged currency, the Zimbabwe dollar increased at a decreasing rate of 0.4% on the 24th of October 2023 on RBZ’s governed liberalized auction market rate. This marks the small

Oct 25, 2023

State of the Zimbabwean Banking Sector : The Chase to Zero

During the first half of 2023, the banking sector experienced notable changes in various key indicators. One such indicator was the aggregate total loans, which saw a significant increase of 9.76% in

Oct 23, 2023