Business

Invictus Starts Field Work in Search for Oil

Invictus Energy, the Australia Stock Exchange (ASX) listed firm exploring for oil and gas in Muzarabani, has commenced field operations in preparation for drilling of two test wells later next year. The junior exploration company said it had embarked on the field operations in October following approval of its environmental …

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Matondo to Chair New Caps Board

THE Government has appointed a new board for the country’s largest pharmaceutical company, CAPS (Pvt) Ltd, led by Mr Nyaradzai Matondo. The appointment is with effect from November 4, 2020, said Industry and Commerce Minister, Dr Sekai Nzenza, in a statement. “The Minister of Industry and Commerce with the concurrence …

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Stable Rate Reflects Market Confidence

The ruling exchange rate, as determined by the Reserve Bank of Zimbabwe (RBZ)’s foreign currency auction system, reflects true market sentiment based on the bids spread of various importers, a key member of the central bank’s monetary policy committee (MPC) has said. This assertion is also backed by recent research …

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Positive Discoveries Bode Well for Bravura Platinum Project

Resource confirmation work ongoing at Bravura Zimbabwe (Pvt) Limited’s platinum project in Mashonaland West province, is unearthing investment compelling data that is expected to give impetus to the mining venture, mine management has said. Bravura Zimbabwe (Pvt) Limited signed a platinum mining project with the Government of Zimbabwe last year …

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Covid-19 Chews Truworths Earnings

Listed clothing retailer, Truworths Zimbabwe earnings for the year to July 12, 2020, took a dip due to Covid-19 induced restrictions to trade. During the second half of the year under review the country was in a lockdown, which was effected on March 30, 2020 as part of efforts to …

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Natfoods to Maintain Growth Path

National Foods Limited (Natfoods) is projected to maintain a growth trajectory in the financial year 2021 supported by its strong business which is anchored on staples. This is despite the obtaining challenging environment, carried over from the previous financial year, worsened by Covid-19 which caused disruption to production across sectors. …

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Positive Sentiment Returns to ZSE

POSITIVE sentiment has returned on the Zimbabwe Stock Exchange (ZSE), helping to drive activity on the market, as the bourse closed in the black led by the biggest counter, CBZ. This saw three of the benchmark indices close pointing northwards during the week to Wednesday. The primary indicator, the ZSE …

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Econet Registers $6,8bn Revenue Growth

ZIMBABWE’S largest mobile network operator, Econet Wireless Zimbabwe registered a $6,8 billion growth in revenue, but slid into a $1,3 billion loss for the year to February 29, 2020, from a profit of $680 million in the prior year weighed down by foreign exchange losses. Group chairman Mr James Myers …

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Revamping Ailing SOEs Gets Top Priority From Cabinet

THE Government has deliberated extensively on ways to enhance the performance of State Owned Enterprises (SOEs) and a decision has been taken to establish an inter-ministerial committee to consider the matter. This was revealed by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa while briefing journalists during the weekly post-Cabinet …

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Egg Imports to End Chicks Crisis

THE Confederation of Zimbabwe Industries (CZI) says it expects the acute shortage of day-old-chicks to improve significantly after the Government put in place statutory provisions for the importation of nearly 9,5 million fertilised poultry eggs. Demand for day-old-chicks, a major source of income for companies and individuals in Zimbabwe given …

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