24.5 C
Harare
Saturday, May 30, 2020
Revenue grew by 45% to ZWL$48 millionTotal revenue closed at ZWL$180 millionFirm solvency position Harare - Insurance Company, Fidelity Life Assurance of Zimbabwe posted a bolstered performance for the three months ended 31 March 2020, with a spike in revenue growth.
Harare - NMBZ Holdings Limited which controls the NMB commercial bank in Zimbabwe released a fair set of earnings for the 12 months period to December. The Group said the financial position was largely driven by the Bank’s continued diversification into the...
December 2019 monthly inflation stood at 16.55%Mthuli Ncube had projected that the country would end the year with an inflation rate of 10% on account of ongoing fiscal and monetary policy reformsEquity Axis’ calculations based on ZIMSTAT figures show that annual inflation rate in December 2019 stood at 521.16% up from 440.01%...
ZSE gives 1 month COVID19 reprieve for due results Most companies are expected to report earnings before the end of MarchCompanies have an option to livestream earnings to avert spread The Zimbabwe Stock Exchange has issued a statement in line with the global...
He leaves after 13 months as CEThe company appointed a new CFO in June 2019The Company has had a bumpy financial ride recording  a string of losses before the appointment of the now departing CELafarge has been losing ground to fierce competitor, PPC Kaziwe Siame Kaulele who...
USD/ZWL$ exchange rate breaches 1:25 on the parallel marketRBZ said the issue is now up for investigationWildly currency fluctuation create economic uncertainty and instability, affecting capital flows as well as threaten a spike in inflationThe fall in ZWL$ value was expected. Its reintroduction was mistimed and marred by uncertainty from the...
Power outages resulted in output losses of around 20%Cumulative gold output at 21 971 kg was below the 2018 average output of 29 524 kgGovernment was in 2019 targeting a 28% increase in mineral export earnings to US$4,2 billion from US$3,2 billion Zimbabwe’s mineral output fell by huge...
Total income increased by 86% in inflation adjusted terms to ZWL253m from ZWL136mOperating expenses expanded 20% to ZWL166m“Due to the lockdown non funded income for quarter two is expected to decline by c15%, whilst costs are also expected to increase…” Harare – First...
Total bank deposits stood at ZW$34.5 billion as at 31 December 2019, composed of ZW$22.0 billion (64%) in local currency and ZW$12.5 billion (US$785 million) or 36% in foreign currencyRBZ says it is strongly monitoring money supply to ensure that it does not cause inflation and/or bring volatility to the exchange...
KEY TAKEAWAYS The delay follows the change in functional and reporting currency in Zimbabwe effective June 24, 2019Usefulness of published corporate financial statements depends on their timeliness as well as their accuracy.In the face of hyperinflation, in certain cases companies are permitted to use inflation-adjusted figures, restating numbers...