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Exchange Traded Funds track fortunes of platinum-group metals

00Exchange Traded Funds track fortunes of platinum-group metals Large volumes of palladium ETF sales point to yet-to-be defined industry development                                Precious metal Exchange Traded Funds (ETFs) have evolved a long way from being the new kids on the metals investment scene. Today ETFs act as a market barometer for underlying investor demand and a…

Zim inflation hits two year high as it rises to -0.65% in January

00Zim inflation hits two year high as it rises to -0.65% in January HARARE – Zimbabwe’s inflation continued on its upward trend to reach its highest level in more than 24 months in January, according to data released on Wednesday by Zimstats, as consumers spent more for bread, cereal, fish, sea food, oils and fats and other products….

Econet Rights Issue – Addressing some ‘controversies’

00Econet Rights Issue – Addressing some ‘controversies’ By Alex Gonese  HARARE – Econet Wireless Zimbabwe Limited (“Econet”) shareholders approved a $130million rights issue at an Extraordinary General Meeting held on the 3rd of February 2017. The rights issue will be underwritten by Econet’s controlling shareholder Econet Wireless Global (“EWG”). The build up to the EGM had…

ZSE awaiting gazetting of debt market rules as IPF rises to $6.4 mln in F16

00ZSE awaiting gazetting of debt market rules as IPF rises to $6.4 mln in F16 HARARE – The Securities and Exchange Commission of Zimbabwe says the Investor Protection Fund grew 19.6% in 2016 to $6.4 million from $5.5 million in the previous year driven largely by the equities portfolio, which rallied in the fourth quarter….

Dairibord consolidates operations into two subsidiaries

00Dairibord consolidates operations into two subsidiaries HARARE – Milk processor, Dairibord Holdings has consolidated operations into two subsidiaries namely Dairibord Zimbabwe (Pvt), Dairibord Malawi in an exercise that will see the group achieve at least 10% savings on costs. The initial phase of group restructuring commenced in January 2016 in the wake of reduced revenues…

How VAT on basic commodities impact local firms

00How VAT on basic commodities impact local firms HARARE – The Zimbabwe Revenue Authority last year saw its gross revenue collections missing the target by 4 percent, registering collections of $3.462 billion, compared to the targeted $3.607 billion. This was against increasing expenditures which surpassed the targeted levels. That left treasury with an excessive fiscal…

Of the ZSE and poor succession planning in corporates

00Of the ZSE and poor succession planning in corporates HARARE – There is no doubt that the current economic environment is challenging. However what separates good performing firms from those that are sinking is the way management responds to the environment. It therefore shows that the importance of leadership cannot be over emphasized. The management…

Econet says EGM is going ahead, ignore ‘regulatory directive’ from ZSE

00Econet says EGM is going ahead, ignore ‘regulatory directive’ from ZSE HARARE – Econet Wireless Zimbabwe has set itself up for a fight with the Zimbabwe Stock Exchange after it said its extra-ordinary general meeting set for tomorrow will proceed as planned. In a statement, Econet said shareholders should disregard any notices that are not…

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