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World

Zimbabwe Sparkles As it Secures 7th Place in Global Diamond Mining

Harare - In the global diamond mining landscape, Zimbabwe claimed a notable position, ranking 7th in both rough diamond production measured in carats and diamond production by value. In 2022, Zimbabwe

Oct 07, 2023
Markets
De Beers' Cycle 8 Rough Diamond Sales Reflect Industry Rebalancing and Increased Marketing Investment

De Beers, a subsidiary of global mining company Anglo American, has reported a provisional figure of $200 million for the rough diamond sales value in its eighth sales cycle of 2023. This figure repre

 Oct 06, 2023
Zimbabwe
Global Nickel Market Faces Widening Surplus in 2024, Putting Pressure on Prices

The decline in nickel prices on the LME, which have fallen by 38% this year, underscores the challenging environment faced by nickel producers. Several factors have contributed to this situation, incl

 Oct 04, 2023
World
Unleashing Zimbabwe's Platinum Potential A Promising Frontier in the Global Market

Unleashing Zimbabwe's Platinum Potential A Promising Frontier in the Global MarketHarare - Zimbabwe's platinum producers are poised to reap significant benefits from the surging global demand for the

 Oct 03, 2023
World
Extractive Sector Boom Driving Zim's Electricity Needs

Harare - As September unfolds its chapters, a captivating tale of power generation unfolds, with the baton passing from the Kariba power station to the Hwange Power station. This dramatic shift

 Oct 03, 2023
Zimbabwe
Alfred Chaavure's Remarkable Journey: From Bank Financial Accountant to Deposit Protection Corporation Director

With over 20 years of experience in Strategic Management, Banking, Finance, and Accounting, Alfred Chaavure brings a wealth of expertise and knowledge to his new role. He holds a Bachelor of Business

 Sep 20, 2023
Zimbabwe
Tongaat creditors vote in favour of extension of rescue plan update

Tongaat Hulett’s Botswana, Mozambique and Zimbabwe sugar operations are not financially distressed and therefore continue trading in the ordinary course. These three businesses are funded independentl

 Sep 13, 2023
Insuring Zimbabwe's Future : Short-Term Coverage Vital for Business Stability and Investment Growth

Zimbabwe has a low insurance penetration rate of 2.6% Potential impact of El Niño and the need to strengethen the insurance sector in the country The GPW surged by 263%, rising from ZW$7.49 billion to

Sep 11, 2023
Platinum Deficit Forecast for 2023 Reaches Record High, Signalling Opportunities for Zimbabwe

This presents a unique opportunity for countries like Zimbabwe, which has seen a slight increase in platinum supply amid challenges faced by other major producers. Zimbabwe exports nickel mattes large

Sep 06, 2023
First Capital Bank: Soaring Profits and Digital Innovation Propel Success

First Capital Bank Soaring Profits and Digital Innovation Propel Success First Capital Bank demonstrated robust profit growth in the first half of 2023, as its profit after tax skyrocketed by 602% to

Sep 04, 2023
Sibanye-Stillwater Faces Challenges Amidst Turbulent Economic Environment

The company's US PGM operations faced challenges due to a shaft incident and critical skills shortages, which affected productivity and unit costs. The global autocatalyst recycling industry also expe

Aug 29, 2023

Gold Prices Hit 5-Month Low

Gold prices started the week on a downward trend remaining below the US$1900 per ounce mark and approaching their lowest levels in the past five months as investors brace themselves for the annual gat

Aug 21, 2023

Sugar Rush: Hippo Valley Estates Rides Wave of Rising Revenues Despite Turbulent Economic Tides

Harare - Hippo Valley Estates Limited, a sugarcane grower and sugar producer, recently unveiled its trading update for the first fiscal quarter ended June 30, 2023. The company's financials reveal

Aug 17, 2023

Lucara Diamond's Latest 1,080-Carat Discovery Boosts Botswana's Diamond Revenue Prospects

The 1,080.1 carat diamond, measuring an impressive 82.2 x 42.8 x 34.2mm, is a Type IIa top white gem of exceptional quality. Discovered in the Coarse XRT unit at Karowe, the diamond was obtained throu

Aug 09, 2023

Botswana's Diamond Model: A Blueprint for African Countries Eyeing Gem Success

The multi-year deal between Botswana and De Beers will significantly increase the supply of precious stones to the country. As other African nations, such as Zimbabwe, explore their diamond resources,

Aug 07, 2023

Zimbabwe Mercantile Exchange (ZMX) Offers Farmers Seeds of Hope

ZMX is gradually gaining traction among farmers and traders As of August 2, 2023, 185 tonnes were traded at US$315 per tonne Soybeans was introduced this week, with 4,000 tonnes auctioned at US$480 pe

Aug 07, 2023

Nedbank Brings American Express to Zimbabwe, Unlocking New Growth in Tourism

Nedbank Zimbabwe becomes the first AMEX Acquirer in Zimbabwe 40% of tourists to Zimbabwe carry American Express cards Amex Card Holders spend three times more than non-cardmembers Harare - Nedbank Zi

Aug 07, 2023

Namibian Stock Market Outshines African Peers Amid Impressive Rally

Namibian Stock Market Outshines African Peers Amid Impressive Rally The remarkable rise of the Namibian stock market over the past year has demonstrated the resilience and growth potential of the nat

Aug 07, 2023

Shumba Energy's Ambitious Energy Projects to Revolutionize Southern Africa's Power Deficit

With these various energy projects in the advanced stage of development, Shumba Energy is poised to have a significant impact on the energy sector in Southern Africa. As the region grapples with a gro

Aug 02, 2023