Companies

Companies

Tanganda Returns to Profitability as Avocado ,Tea Booms

Tanganda Tea, a company listed on the Zimbabwe Stock Exchange (ZSE), has made a remarkable turnaround, recording a profit after tax of USD1.4 million for the year ended 30 September 2024. This is a si

Dec 16, 2024
Companies
Nampak Zimbabwe's $25 Million Deal with TSL at Advanced Level

Nampak Zimbabwe, the country's largest packaging company, is nearing completion of its $25 million merger with TSL Limited. According to the latest circular released by the group, the bidder has acce

 Dec 10, 2024
Companies
CBZ-FML Acquisition Crumble: Competition and Tariff Commission Ruling Halts Deal

The Competition and Tariff Commission (CTC) has issued a ruling against CBZ Holdings' proposed acquisition of additional shares in First Mutual Holdings (FML). This decision follows CBZ's purchase of

 Dec 10, 2024
Companies
Zimplow Projects Break-Even in FY2024, Eyes Recovery in 2025

Zimplow Holdings, Zimbabwe's leading supplier of tires, mining, and agricultural equipment, has projected that it will not achieve profitability in FY2024, although a near break-even outcome would be

 Dec 06, 2024
Companies
Government's Failure to Pay Debt Forces Seed Co to Rely on Loans

The largest seed house in the country, Seed Co is currently struggling  with financial challenges attributed to delayed payments from the government, which owes the company US$8.6 million. This outst

 Dec 06, 2024
Companies
Choppies Exits Zimbabwe: Detailed Analysis on Unhappy Statement

Choppies is exiting Zimbabwe and has initiated discussions to divest its business, citing the adverse effects of policies that favour informal traders over formal retail operations. The company plans

 Dec 02, 2024
Companies
Seed Co International Anticipates Significant Improvement in Interim Earnings

Seed Co International Limited, a leading player in the agricultural sector is anticipating a substantial improvement in its interim earnings per share (EPS) for the half-year ended 30 September 2024 a

 Nov 28, 2024
Bridgefort Exits ZSE , Eyes VFEX Listing

The Zimbabwe Stock Exchange (ZSE) has terminated trading of Bridgefort Capital Limited shares which consists Class A and Class B  effective November 26  2024, as the company volunteered to delist from

Nov 27, 2024
BOARDROOM BETRAYAL: Moxon Accuses Meikles Directors of 'Deceitful' Power Play, Calls EGM to Remove Them

Meikles Limited's largest shareholder, John Moxon, has convened an Extraordinary General Meeting (EGM) to effect a strategic restructuring of the company's Board of Directors. The EGM is slated for De

Nov 26, 2024
As Econet Upgrades Network, Connectivity Gaps Persist: Why?

Econet Wireless Zimbabwe, the pre-eminent telecommunications operator in the region, has strategically deployed an additional 32 5G base stations in Harare over the six-month period concluding on Augu

Nov 26, 2024
RTG to Acquire Montclair Hotel for US$5 Million, Expands Portfolio to 7

Rainbow Tourism Group Limited (RTG), the second-largest hotelier group in Zimbabwe, has entered into a definitive agreement to acquire Nyanga's Montclair Hotel and Casino for US$5 million. The acquis

Nov 25, 2024

Simbisa Brands Energy Costs More Than Double in Q1, But New Store Openings Cushion the Blow

Simbisa Brands, the leading quick-service restaurant (QSR) operator in Zimbabwe, reported a significant rise in energy expenditures, which more than doubled year-over-year (YoY) in Q1 FY2025. This up

Nov 25, 2024

Simbisa Customer Count reaches 12.1 Million in Q1 2025

Simbisa Brands, Zimbabwe's largest fast-food outlet, has opened a net total of 57 new company-operated stores between 30 September 2023 and 30 September 2024 with 5 opened in the first quarter of the

Nov 22, 2024

First Capital's Non-Performing Loan Ratio Falls Below 3% Amid Restructuring

First Capital Bank has posted a solid third-quarter performance, driven by a restructuring exercise aimed at enhancing its operating model. In the banking sector, restructuring refers to the process

Nov 22, 2024

Proplastics Reports Subdued YTD Performance with Production, Sales Down

Proplastics, a premier plastics products manufacturer and distributor, reported subdued year-to-date (YTD) results for the nine months ended September 30, 2024. The company experienced a 5% contractio

Nov 21, 2024

Pomona City Drives Westprop's Q3 Robust Performance

WestProp Holdings, a prominent real estate company's customer contracts have surged by 35% contributing an increase of 11%  to its year-to-date revenue in a trading update for the period ended 30 Sept

Nov 20, 2024

EcoCash Holdings’ HY Performance: Posts 185% Deposits Surge, 91% Loan Growth

EcoCash Holdings reported a 185% surge in deposits to ZWG1.37 billion for the six months ended August 31, 2024, compared to ZWG483 million in the corresponding 2023 period. This significant growth wa

Nov 20, 2024

Zimplow Holdings on Recovery Path: Q3 Performance Sparks Optimism

Zimplow Holdings Limited reported a 12% decline in topline to US$20.6 million, in the thrird quarter to 30 September 2024 compared to the prior year according to the company’s latest trading update.

Nov 20, 2024

NMB Loan Book More Than Doubles in Q3, USD Denominates Deposits at 87%

NMB Zimbabwe's loan book expanded significantly, with loans and advances surging 110% to ZWG2.7 billion for the third quarter ended September 30, 2024. This growth was driven by the bank's successful

Nov 19, 2024