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Friday, January 15, 2021
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news about the Zimbabwean economy

Exporters no longer required to liquidate forex earnings in 60 daysExport Surrender Requirement however increased from 30% to 40%Adjustments aimed at ensuring sustainability of Forex Auction System In a move aimed at strengthening the foreign currency auction system, the Reserve Bank of Zimbabwe...
Stanbic bank CEO Joshua Tapambgwa has resigned after 13 years at the helm of the leading financial institutionHe steps down with effect from 1 January 2021Chief Finance Officer Solomon Nyanhongo takes over as new CE HARARE – Stanbic Bank Zimbabwe Limited is seeing...
Revenue dropped to US$25.0 millionSales volumes declined 15%Trojan Nickel Mine is the only operating mine within BNC at the moment HARARE – Bindura Nickel Corporation (BNC) says nickel concentrate sales for the half year ended 30 September 2020 declined by 15% to 2...
Harare – Chengetedzai Depository Company (CDC) Limited registered 278 new accounts during the month of November 2020 compared to the 517 accounts in October, bringing the cumulative number of accounts opened to 30,533. In a recently released trading update, the company said...
Shareholders voted to cut ties with the ZSE at an EGMThe company had previously lamented that their listing was no longer beneficialThe company will now proceed to buy back shares from minority shareholders The shareholders of electrical and hardware supplier, Powerspeed Electrical limited...
Volumes grew by by 5% to 10%Revenue increased by 60% to R797 millionThe company continues to meet its debt obligations Harare – Regional cement manufacturer, Pretoria Portland Cement (PPC) says although trading conditions in Zimbabwe were characterised by a challenging economic environment and...
The dividend will be paid to shareholders on or about the 15th of January 2021The company recorded 30% increase in revenue for FY20 HARARE – ZSE-listed property concern Mashonaland Holdings said its board approved the payment of a final dividend of ZWL1.34 cents...
ZWL$ appreciation first in 7 weeksUS$30.3 million was traded with the main auction this weekTotal accepted bids accepted fell from 244 to 236 The Zimbabwean dollar continues to maintain a solid run against the greenback as denoted in the auction trade held on...
A few weeks ago, when Finance and Economic development minister, Mthuli Ncube presented the 2021 national budget he through most people into a frenzy with his proposal to remove from the Open General Import Licence, second hand vehicles older than ten years.
Revenue increased by 28%Battery segment continued to drive the Group’s performanceRecorded significant fair value losses on biological assets and investment property Harare - ZSE-listed Amalgamated Regional Trading (ART) Corporation reported a better volumes performance in the year ended 30 September 2020 despite operational...