Companies

Companies

Axia Records Growth Across All Sectors Except DGA

Diversified ZSE-listed retail group Axia has reported volume and revenue growth across all its business segments except DGA Zimbabwe and Zambia during the third quarter of the 2024 fiscal year, signal

May 22, 2024
Companies
Fidelity Life Achieves Circa $100 Billion in Net Profit in Q1 2024

Diversified ZSE-listed company, Fidelity Life, has reported an after-tax profit of ZWL90 billion during the first quarter of the 2024 financial year, up from ZWL45.5 billion in the previous year. This

 May 21, 2024
Companies
ASUN Narrow Losses ,Occupancy Rebounds to Pre-Pandemic Levels

African Sun Limited (ASUN), the largest hotel group, has started the 2024 fiscal year with a narrower loss position, down 32% year-over-year. In its latest trading update, ASUN reported a loss before

 May 21, 2024
Companies
NMB Posts Strong Q1 Results with Over 85% of Loans, Deposits in US$

After securing a US$15 million loan facility from the African Development Bank, NMB Bank Zimbabwe Limited has reported strong financial performance largely constituting high total income, an expanded

 May 20, 2024
Companies
FBC Completes Stanchat Takeover, Posts Blowout Q1 Performance

FBC Holdings, the fourth-largest bank by loan book in Zimbabwe, has completed the takeover of Standard Chartered Bank Zimbabwe (Stanchat). FBC plans to transform the acquired business into a powerhous

 May 20, 2024
Companies
RioZim's FY Loss More than Quadruples as Gold Production Lags Padenga's Q1 Output

Embattled loss-making company RioZim, once a renowned gold producer, has suffered a staggering full-year 2023 loss of ZWL95.8 billion, up significantly from ZWL20 billion the previous year as the comp

 May 20, 2024
Companies
Innscor's Downpacked Unit Incurs 23% Contraction Amid Controversial Shifting Govt Tax on Rice

Innscor Africa Limited, a blue-chip firm listed on the Zimbabwe Stock Exchange (ZSE) and the largest food processor in the country, has reported a 23% contraction in the performance of its downpacked

 May 20, 2024
Edgars Suffers Heavy Trading Loss, Sales Contraction Despite Sustained Profitability

Trading loss shoot to ZWL46 billion from ZWL36 billion in trading profit Operating loss of ZWL81 billion from an operating profit of ZWL38 billion However, it achieved an after-tax profit Harare- In a

May 20, 2024
National Foods Laments 'Statutory Instrument' Run Economy After Tough Q1

National Foods, the largest food manufacturing and distribution company in Zimbabwe, has expressed concerns about the challenges posed by the government's continuously evolving policy landscape durin

May 17, 2024
ZB Financial Total Income Surpasses 2 Trillion in 3 Months

ZB Financial Holdings, a diversified financial arm listed on the Zimbabwe Stock Exchange (ZSE), has surpassed ZWL2 trillion in total income within a three-month period setting the full-year 2024 fisca

May 15, 2024
Mash Holdings Set to Complete Pomona Project: Milton Park, Mashview Gardens Projects Completed

Following a remarkable 30% increase in revenue during the first quarter to March 2023, with 74% of rental income in US dollars, Mashonaland Holdings has set its sights on a new target, the completion

May 15, 2024

Dairibord US Dollar Sales Surge to 85%, Raw Milk Intake Exceeds 9 Million Litres

Dairibord Limited, Zimbabwe's largest milk processor, experienced a significant surge in US dollar sales, with an 85% increase during the first quarter of 2024, which ended on March 31. This growth c

May 15, 2024

Padenga Sets Tone on Firmer Note: Achieves Highest Gold Production in First Quarter

As gold continues to consolidate its significance not only due to its safe haven status amidst geo-economic global fragmentation but also its heightened relevance as Zimbabwe embraces ZiG, a gold-back

May 15, 2024

Caledonia Faces Mounting Monetary Loss in Q124, Production Up 8%

Caledonia Mining Corporation, the second-largest gold producer in Zimbabwe, has experienced a significant increase in monetary losses due to the rapid depreciation of the local currency during the Jan

May 13, 2024

Edgars Stores’ Publication of Audited Results for FY2023 Delayed

Edgars Stores Limited, the largest clothing retailer, has announced a delay in the publication of its audited results for the 52-week period ended 7 January 2024, as stated in the company's latest cir

May 11, 2024

General Beltings Holdings Reports Significant Loss in FY23 as Volumes Decline

General Beltings Holdings, a manufacturer and distributor of conveyor beltings, rubber, and chemical products, experienced a significant decline in profitability in the fiscal year 2023. The company r

May 09, 2024

Elevating the Banking Experience: AFC Bank Partners Intellect Global Consumer Banking

AFC Commercial Bank, one of the leading Commercial banks in Zimbabwe, has partnered with Intellect Global Consumer Banking (IGCB) to modernize its banking operations by implementing an Intellect Digit

May 07, 2024

Fidelity Life Crosses 100 Billion in Net Profit

Fidelity Life, a diversified assurance company, achieved a significant milestone by surpassing ZWL 100 billion in net profit for the first time. During the 12-month period ended 31 December 2023, net

May 06, 2024

CBZ Suffers Doubled Monetary Loss in FY23, No Relief in Sight for New Fiscal Year

CBZ Holdings, a blue-chip company listed on the Zimbabwe Stock Exchange and known for its flagship asset, CBZ Bank, has experienced a substantial increase in monetary losses for the fiscal year ended

May 06, 2024