Search results for 'currency crisis'
Companies
Economic Storm Tests: BAT Remains in Smoke

Cigarettes manufacturer, British-American Tobacco has reported a 7% decline in sales volumes during the third quarter ended 30 September 2023 according to the Group’s latest trading update. However, d

Oct 27, 2023
Zimbabwe
Starlink Faces Price Hurdle in Zimbabwe as Telecom Operators Seek Relief

TOAZ casts doubt on the suitability of low-earth-orbit (LEO) satellite systems, popularized by firms like Starlink, as a broad solution for Zimbabwe.  The association says high costs are likely to lim

Apr 04, 2024
Zimbabwe
Black Market Balloons as Government's ZiG Currency Gamble Backfires

During the last week of May, we continued to monitor the movement of the ZiG currency against other currencies in both the government-regulated formal exchange rate and the market-determined parallel

Jun 01, 2024
Zimbabwe
Stormy August Batters ZiG: Devaluation Headlines the Month

he Zimbabwe Gold (ZiG) has recorded a poor performance in July 2024. It started trading in April 2024 at a high of 13.56 ZiG per US dollar, but by the end of July 2024 had fallen to 13.79 per dollar.

Aug 01, 2024
Companies
Willing Buyer, Unwilling Seller: CAFCA Faces USD Crunch Despite Strong Domestic Performance

CAFCA Limited Zimbabwe has faced significant foreign currency challenges in the third quarter of 2024 ended 30 June, leading to depressed export volumes. Despite this, domestic sales increased by 21%,

Aug 20, 2024
Zimbabwe
ZiG Extends Weekly Losses: A Currency in Crisis?

The Zimbabwe Gold (ZiG) traded at 13.8076 from 13.7863 on the 15th of August last week, continuing the downward trend observed in July 2024. This decline, coupled with the alarming situation on the p

Aug 22, 2024
Zimbabwe
Zimbabwe's Currency Crisis: Premium At 74% Despite US$190 Million Injection

Central Bank has injected US$190 million into the market to stabilize the exchange rate madness that has plagued Zimbabwe's economy. This move is part of a broader strategy to curb the volatility tha

Sep 03, 2024
Zimbabwe
Currency Hypocrisy: Are Monetary Gaffers Taking a Local Pay-check, in ZiG?

From 26.65 last week, the Zimbabwe Gold (ZiG) has further depreciated to 27.44 on a week-on-week basis, according to the latest data released by the Central Bank. Since its devaluation of 43% in a sin

Oct 24, 2024

Top Stories

Simbisa Customer Counts reaches 12.1miliion 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

Mining Sector Sees 9% Average Growth, but Energy Deficit Deepens

The mining industry have seen a significant growth with an average of 9% per annum, mainly spared by lithium sector projects and production of iron and steel. According to GlobalData, Zimbabwe is the

Nov 22, 2024

Proplastics Reports Subdued YTD Performance with Production, Sales Down

Proplastics, a premier plastics products manufacturer and distributor, reported subdued year-to-date (YTD) results for the nine months ended September 30, 2024. The company experienced a 5% contractio

Nov 21, 2024

Pomona City Drives Westprop's Q3 Robust Performance

WestProp Holdings, a prominent real estate company's customer contracts have surged by 35% contributing an increase of 11%  to its year-to-date revenue in a trading update for the period ended 30 Sept

Nov 20, 2024

EcoCash Holdings’ HY Performance: Posts 185% Deposits Surge, 91% Loan Growth

EcoCash Holdings reported a 185% surge in deposits to ZWG1.37 billion for the six months ended August 31, 2024, compared to ZWG483 million in the corresponding 2023 period. This significant growth wa

Nov 20, 2024

Zimplow Holdings on Recovery Path: Q3 Performance Sparks Optimism

Zimplow Holdings Limited reported a 12% decline in topline to US$20.6 million, in the thrird quarter to 30 September 2024 compared to the prior year according to the company’s latest trading update.

Nov 20, 2024

NMB Loan Book More Than Doubles in Q3, USD Denominates Deposits at 87%

NMB Zimbabwe's loan book expanded significantly, with loans and advances surging 110% to ZWG2.7 billion for the third quarter ended September 30, 2024. This growth was driven by the bank's successful

Nov 19, 2024