Companies

Zimbabwe

Zimbabwe's Power Predicament Gets a Respite: Hwange Unit 8 to Sync on Tomorrow, Augmented by Kariba a 260% Output Surge, but the Relief is Fleeting!

As we eagerly anticipate the synchronisation of Hwange Unit 8 tomorrow, which will augment the combined output from Unit 7 and 8 to 600 megawatts, the Kariba Hydro-Power Station has exponentially incr

May 15, 2023
Companies
Rare Earth Element Bonanza in Zambia: Prospect Resources secures Option for 51% in prospective REE project

The Kesya Project includes a large-scale exploration license where previous geological mapping and sampling has identified a large rare earth element (REE)-enriched carbonatite intrusion. Rock chip sa

 May 15, 2023
Companies
Lower Gold Output Slashes Caledonia’s Q1 Revenue

Gold mining giant, Caledonia Mining Corporation has recorded a 16% revenue decrease to US$29.4 million during the first quarter to full year 2023 from US$35.1 during the comparative first quarter peri

 May 15, 2023
Companies
Lucara's Underground Challenge: Early Delays and Diamond Pricing Woes Test Expansion Vision at Karowe

According to GlobalData, Botswana is the world's second-largest producer of diamonds, with output of 24,810kct in 2022, up by 8% on 2021. Over the five years to 2021, production from Botswana decrease

 May 15, 2023
Companies
BDC Records Growth in Half-Year Earnings

The Botswana Development Corporation Limited (BDC) released its unaudited results for the 6 months ending 31 December 2022, recording a 14% increase in revenue to P168 million (USD16.8 million). The s

 May 15, 2023
Zimbabwe
From Loss to Profit: Dallaglio Anchors Padenga Holdings’ Solid Performance

After recording a loss in full-year 2021, the Victoria Falls Stock Exchange (VFEX)- listed diversified Group, Padenga Holdings has recorded a solid financial muscle during the full year ended 31 Decem

 May 12, 2023
Zimbabwe
Delta Corporation Posts Impressive 60% Increase in Revenue, Delivering Sparkling FY’23 Results Despite Economic Headwinds

Delta Corporation announced sparkling results, overcoming macroeconomic headwinds in Zimbabwe and supply chain constraints to post a 12% increase in beverage volume. Lager beer volume in Zimbabwe swel

 May 12, 2023
Taxation, Interest Expenses Narrows Afdis FY Earnings

The Zimbabwe Stock Exchange (ZSE)- listed wine and spirit maker, African Distillers’(Afdis) has recorded a surge in tax expenses and taxation to government parastatals during the full year ended 31 Ma

May 12, 2023
First Capital Bank seeks to sweat assets by targeting public service

The promotion is just one of a range of activities that First Capital Bank is offering to unlock value in the new term. In 2022, the Bank invested heavily in revamping its digital platforms, and custo

May 11, 2023
ZimStats Survey Reveals Agriculture, Mining, and Retail as Top Contributors to Zimbabwe's Economy

The Organisation of Petroleum Exporting Countries (OPEC) insists that the use of fossil fuels is the best option to address the forecast of a 13% increase in demand, despite the fact that they have po

May 11, 2023
Takealot’s Mr D drives Pick n Pay sales

South Africa’s 2nd largest retailer Pick n Pay said its online sales volumes significantly soared after hopping onto the Mr D’s delivery app. The company achieved total online sales growth for the yea

May 11, 2023

Harmony Gold reports strong operational performance for 9M FY23.

Electricity challenges in South Africa will likely have a significant adverse impact on Harmony's operations in the near term, particularly its cost of production. The country has been experiencing fr

May 10, 2023

CBZ Holdings' Taxation More than Doubles in FY2022

CBZ Holdings, a ZSE-listed diversified outfit’s taxation charges more than doubled by 111% to ZWL21.48 billion during the full year ended 31 December 2022 from ZWL10.8 billion in the same period in 20

May 10, 2023

Zambia Forestry Corp. Delivers Resilient Financial Performance in Challenging Times

The corporation generated a total revenue of ZMW386 million ($21.9 million) from the sale of roundwood and treated poles compared with ZMW366.6 million ($20.7 million) in 2021, representing an increas

May 10, 2023

Strategic Growth and Diversification: Sibanye's Q1 2023 Performance and Key Projects in Zimbabwe and Europe

One of the key projects that Sibanye is advancing is the Keliber lithium refinery project in Europe. The construction of the refinery commenced in March 2023, and the project is set to supply regional

May 10, 2023

Beneficiation Blitz: Hwange Colliery to Commission New Washing Plants

Mining gem, Hwange Colliery Company Limited is set to commission new two washing plants in the second half of 2023, according to the company’s latest FY’2023 financial results.  The coal directly min

May 09, 2023

From Losses to Lessons: Zimplow's 2022 Journey Towards Growth and Resilience

Zimplow Holdings Limited, which is set to list on the Victoria Falls Stock Exchange (VFEX) after announcing its intention to delist from the Zimbabwe Stock Exchange (ZSE), weathered a turbulent year i

May 08, 2023

Corporate Action Summary

In the week under review, Caledonia Mining Corporation announced the retirement of Leigh Wilson from his role as Director and Non-Executive Chairman of the Company. He became Chairman in May of 2013,

May 08, 2023

Zimgold's Plan to Boost Local Sourcing in Zimbabwe's Oil Industry: Company Aims to Raise US$5 Million through the private placement of a Commercial Paper

Zimgold aims to raise US$5 million through the private placement a commercial paper to fund local sourcing of soya beans and sunflower seeds. The limited quantities of oilseed production in Zimbabwe h

May 08, 2023