16.7 C
Harare
Sunday, April 5, 2020
Simon Hammond goes into retirement with effect from 1 April 2020Incoming Mpofu has been a member of the Old Mutual Group for close to 15 yearsCecil Ndoro assumes Deputy Managing Director position CABS has announced the appointment of a new Managing Director and...
Deferment of Q2 dividend of 2020Blanket Mine has the capacity to sustain production past Zim and SA lockdown period Harare - Caledonia Mining Corporation, parent company to Blanket mine in Zimbabwe has announced that the board of directors has decided to defer its...
Long term local currency deposit ratings downgraded to Ba1 from Baa3Senior Unsecured MTN of Nedbank Limited downgraded to (P)Ba1 from (P)Baa3.Subordinate MTN of Nedbank Limited downgraded to (P)Ba2 from (P)Ba1 Harare - Nedbank Limited, the 100% owned subsidiary of Nedbank Group has issued...
Tobacco selling season affected by COVID-19Tobacco sales contribute around 25% of Zimbabwe’s annual forex receipts annuallyhectarage under tobacco has plunged significantly from 42 000 hectares to 35 998 ha The 2020 tobacco marketing season’s commencement date initially set for February was moved to...
Nampak Zimbabwe faces liquidity challengesAs a result raw material supply management was challenging for HunyaniUS Dollar linked Kwanza bonds provided effective protection against the Angolan Kwanza devaluation Diversified packaging manufacturer Nampak Limited with a Zimbabwean unit Nampak Zimbabwe said it has registered healthy liquidity in its Angolan...
Potential changes in exchange rates, labour laws or policies could imoact cost of productionDelays in production or shipping of product likely to negatively affect future operating results and cash flows Harare -Nampak Limited has expressed uncertainty surrounding supply chain disruption and travel bans as the COVID-19 outbreak...
Restructuring of company will no longer be pursued at this timeThe restructuring entailed establishing a holding company, MBC HoldingsDevelopment was meant to improve operating efficiencies Microfinance bank, Getbucks has published a further cautionary statement announcing the withdrawal of another cautionary issued in January stating the restructuring of the...
Mine is currently permitted to continue operations as it awaits exemptionExemption application is on the grounds that mine and its employees can be quarantined from surrounding areaCompany has capacity to withstand interruption to its production Harare - Gwanda-based gold miner, Blanket Mine has applied for exemption to...
Reduction in consumer demand anticipatedDisruptions to Group’s supply chain likely British American Tobacco Group anticipates a significant adverse material impact to its business if the coronavirus continues to affect key geographies or if the situation deteriorates for an extended period.  The Group said...
Rand Refinery fails to secure commercial flights to UKRand Refinery suspends shipmentsGold contributed 37% to Zim’s 2019 forex receipts Zimbabwe’s gold exports have come under threat after South Africa’s Rand Refinery suspended its gold exports to the UK upon failing to secure commercial flights to ship...