Companies

Zimbabwe

Triangle Limited Embarks on Mass Retrenchment as Government Policies Suffocate Formal Sector

Triangle Limited, a leading sugar manufacturer in Zimbabwe, has embarked on a strategic phased retrenchment initiative aimed at alleviating rising operational expenditures and reinstating profitabilit

Jan 15, 2025
Companies
Omni-Channel Platform Fuels 80% Revenue Growth for EcoCash Holdings

EcoCash Holdings has reported an 80% increase in revenue for the quarter ended 30 November 2024 from a decline of ZWG 5 billion in the six months ended 31 August 2024 due to improved operational effic

 Jan 14, 2025
Companies
Caledonia’s FY2024 Gold Production Meets Analyst Expectations, Cut FY2025 Guidance Despite Circa US$50 Million Capex fro 2025

Caledonia Mining Corporation's FY2024 output of 76,656 ounces has fallen within analyst expectations, amidst a significant capital expenditure program of approximately $41.8 million earmarked for 2025

 Jan 14, 2025
Companies
NTS HY25 at Glance: Widening Losses, Unrealistic Future Bets

In the half-year period ended September 30, 2024, National Tyre Services (NTS) reported a substantial decline in both volume and sales figures, attributed to a myriad of factors such as supply chain d

 Jan 08, 2025
Companies
CHECKMATE: Choppies Checkmated by Informal Traders ,Sells Zimbabwe Operations to Sai Mart

Choppies has sold its operations  to Sai Mart effective 1 January 2025 due to  struggling under the weight of unfavourable government policies favouring informal traders. This follows after the retai

 Jan 03, 2025
Companies
Tanganda Returns to Profitability as Avocado ,Tea Booms

Tanganda Tea, a company listed on the Zimbabwe Stock Exchange (ZSE), has made a remarkable turnaround, recording a profit after tax of USD1.4 million for the year ended 30 September 2024. This is a si

 Dec 16, 2024
Companies
Nampak Zimbabwe's $25 Million Deal with TSL at Advanced Level

Nampak Zimbabwe, the country's largest packaging company, is nearing completion of its $25 million merger with TSL Limited. According to the latest circular released by the group, the bidder has acce

 Dec 10, 2024
CBZ-FML Acquisition Crumble: Competition and Tariff Commission Ruling Halts Deal

The Competition and Tariff Commission (CTC) has issued a ruling against CBZ Holdings' proposed acquisition of additional shares in First Mutual Holdings (FML). This decision follows CBZ's purchase of

Dec 10, 2024
Zimplow Projects Break-Even in FY2024, Eyes Recovery in 2025

Zimplow Holdings, Zimbabwe's leading supplier of tires, mining, and agricultural equipment, has projected that it will not achieve profitability in FY2024, although a near break-even outcome would be

Dec 06, 2024
Government's Failure to Pay Debt Forces Seed Co to Rely on Loans

The largest seed house in the country, Seed Co is currently struggling  with financial challenges attributed to delayed payments from the government, which owes the company US$8.6 million. This outst

Dec 06, 2024
Choppies Exits Zimbabwe: Detailed Analysis on Unhappy Statement

Choppies is exiting Zimbabwe and has initiated discussions to divest its business, citing the adverse effects of policies that favour informal traders over formal retail operations. The company plans

Dec 02, 2024

Seed Co International Anticipates Significant Improvement in Interim Earnings

Seed Co International Limited, a leading player in the agricultural sector is anticipating a substantial improvement in its interim earnings per share (EPS) for the half-year ended 30 September 2024 a

Nov 28, 2024

Bridgefort Exits ZSE , Eyes VFEX Listing

The Zimbabwe Stock Exchange (ZSE) has terminated trading of Bridgefort Capital Limited shares which consists Class A and Class B  effective November 26  2024, as the company volunteered to delist from

Nov 27, 2024

BOARDROOM BETRAYAL: Moxon Accuses Meikles Directors of 'Deceitful' Power Play, Calls EGM to Remove Them

Meikles Limited's largest shareholder, John Moxon, has convened an Extraordinary General Meeting (EGM) to effect a strategic restructuring of the company's Board of Directors. The EGM is slated for De

Nov 26, 2024

As Econet Upgrades Network, Connectivity Gaps Persist: Why?

Econet Wireless Zimbabwe, the pre-eminent telecommunications operator in the region, has strategically deployed an additional 32 5G base stations in Harare over the six-month period concluding on Augu

Nov 26, 2024

RTG to Acquire Montclair Hotel for US$5 Million, Expands Portfolio to 7

Rainbow Tourism Group Limited (RTG), the second-largest hotelier group in Zimbabwe, has entered into a definitive agreement to acquire Nyanga's Montclair Hotel and Casino for US$5 million. The acquis

Nov 25, 2024

Simbisa Brands Energy Costs More Than Double in Q1, But New Store Openings Cushion the Blow

Simbisa Brands, the leading quick-service restaurant (QSR) operator in Zimbabwe, reported a significant rise in energy expenditures, which more than doubled year-over-year (YoY) in Q1 FY2025. This up

Nov 25, 2024

Simbisa Customer Count reaches 12.1 Million in Q1 2025

Simbisa Brands, Zimbabwe's largest fast-food outlet, has opened a net total of 57 new company-operated stores between 30 September 2023 and 30 September 2024 with 5 opened in the first quarter of the

Nov 22, 2024

First Capital's Non-Performing Loan Ratio Falls Below 3% Amid Restructuring

First Capital Bank has posted a solid third-quarter performance, driven by a restructuring exercise aimed at enhancing its operating model. In the banking sector, restructuring refers to the process

Nov 22, 2024