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Saturday, March 28, 2020
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news about the Zimbabwean economy

He has been appointed to various leadership positionsHe is the current CE of United RefineriesDoug Munatsi assumes board CE position Harare - Renowned businessman, Busisa Moyo has been appointed the new board chair of the Zimbabwe Investment and Development Agency (ZIDA). The new...
First Capital closes 4 branchesClosure to commence on 24 March 2020BancABC implements measure to curb spread of the virus Harare - As the coronavirus has been recorded in Zimbabwe, with the first case being recorded last Friday and a second that has resulted in death of...
Hyperinflation has changed accounting standards in reportingHyperinflation accounting was adopted in the second half of 2019Before dollarisation Zimbabwe used hyperinflation accountingCompanies delaying financials release as a consequence Listed companies in Zimbabwe will delay release of their earnings for the period to December 2019 due...
Government struggles to implement the use of an e-cabinet as cabinet is set to meet at the State House instead of the usual Monomutapa building in spite of the coronavirus threatZimbabwe has recorded one casualty from three confirmed casesMost countries going into lockdown in a bid to minimise the spread of...
Flour outages resulted in reduction in loaf volumes by 45%Market-related pricing approach resulted in consistent supply of wheat and bread Harare – Zimbabwe’s volatile economic environment negatively impacted the performance of Innscor’s bakery division in the half year ended 31 December 2019. For much of...
Declared an interim dividend of 86.47ZWL centsRevenue grew by 30% due to higher selling prices as a result of reduction in subsidiesInflation adjusted profit increased by 76% Harare - On the backdrop of prevailing harsh business environment and in particular the liquidity constraints, National Foods has increased...
National Foods milled over 45 000 tonnes of maizeMaize volumes for the group remained flat on last year’s high baseThe Mutare and Masvingo maize mills have been reopenedZimbabwe has imported about 300 000 tonnes of maize Harare - Zimbabwe has been hit by a maize deficit that has...
Both RBZ and primary dealers benefiting from a malfunctioning IBMForex earnings enough to meet demandCost of Fx market disruption is huge This week, the Reuters trading platform went live and to mark its beginning, we noticed a movement in...
Overall volumes declined by 32%Volume loss attributed to reduced consumer spending powerNat Foods excepts volumes to remain subdued Harare - National Foods Holdings Limited reported a drastic double-digit volume decline across its business segments. Overall volumes dropped by 32%
Robust contingency planning across the business implementedPersonnel can work and collaborate from remote sitesThe company is executing plans to ensure network and system continuity Harare- Telecoms service provider, Liquid Telecom has taken steps to ensure the safety of its workers and customers as the Coronavirus (Covid-19) has spread...