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Foreigners dump SA stocks

Foreigners offloaded South African stocks at the fastest pace in two years last week, as worries about the state of the global economy helped spur an exit from riskier assets. Offshore investors were net sellers of R10,7 billion of the country’s equities in the five days ending October 4, based …

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Moyo splits Old Mutual

Old Mutual shareholders are split on whether the South African insurer should pony up and settle with Chief Executive Officer Peter Moyo or run the risk of a R250 million damages claim. All Weather Capital is up for a settlement if it will end the feud. Allan Gray, Old Mutual’s …

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OPC ups Expo 2020 Dubai preps

Herald Reporter THE Office of the President and Cabinet (OPC) is seeking to engage an advertising agency, a media house, an expert or agency in data gathering and a digital solutions agency as it steps up preparations for Zimbabwe’s participation at the Expo 2020 Dubai. Expo 2020 Dubai is a …

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Investor tables offer for Zimglass assets

GWERU-BASED glassmaker, Zimbabwe Glass Industries Limited (Zimglass), has received an offer for the purchase of all its assets, which could lead to the revival of the sole glassmaker, an official has said. BY MTHANDAZO NYONI Zimglass, a subsidiary of the Industrial Development Corporation (IDC), has been insolvent since 2010 and …

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Mining companies turn to solar energy

ZIMBABWE’S mining companies will be generating more than 600 megawatts (MW) of electricity from solar energy by 2023, as they move to offset power shortages currently being experienced in the country, an official has said. BY MTHANDAZO NYONI Mines and Mining Development minister Winston Chitando told delegates attending this year’s …

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$300m float gets uptake

The Reserve Bank of Zimbabwe (RBZ) said on Friday it received bids totalling $81 million against its biggest Treasury Bills (TBs) float to date of $300 million for 365 days. The 27 percent subscription may indicate investor fatigue in the Government-issued debt instrument. A number of financial players in the …

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Call for funding to educate artisanal miners

Lawrence Chitumba Mash Central Correspondent STAKEHOLDERS in the mining sector have urged Government to avail funding in the 2020 National Budget for educating artisanal miners to practise sustainable mining methods so that their activities do not compromise future generations. This comes as artisanal miners are producing a significant amount of …

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Venice Mine’s revival on course

Business Reporter Gold producer Venice Mine’s revival is on course and the mine is targeting to produce 600kg of gold annually, a significant contribution to the country’s gold output and foreign currency earnings. Gold and tobacco are the country’s largest foreign currency earners. The mine which was under care and …

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Mobile money transactions jump

Enacy Mapakame The number of mobile money transactions jumped 21 percent in the quarter to June 30, 2019, to 477,4 million on the growth of users and uses. According to the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) sector performance report for the second quarter of 2019, the growth …

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