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Simbisa says liquidity constraints in Zim restrict 1Q17 top-line performance

00Simbisa says liquidity constraints in Zim restrict 1Q17 top-line performance HARARE, Simbisa Brands says liquidity constraints in its largest market – Zimbabwe –  and weak commodity prices regionally restricted the group’s topline performance to a marginal growth in the first quarter (Q12017) ended 30 September 2016. In a trading update at the Group’s annual general…

Net claims on Government up 77% year-on-year: RBZ data

00Net claims on Government up 77% year-on-year: RBZ data  HARARE – There was a 77% increase of claims on Government in the nine months to September against the comparable year ago period but the monthly growth has slowed, latest data from the Reserve Bank of Zimbabwe shows. According to the September monthly report, net claims…

NSSA ups NicozDiamond stake to +40% putting an end to the Zimre of old

00NSSA ups NicozDiamond stake to +40% putting an end to the Zimre of old HARARE –The National Social Security Authority has increased its shareholding in NicozDiamond to above 40% in a move that many analysts say pushes towards the end of the once-mighty Zimre Holdings group. NSSA took its shareholding to around 43% from 28.15%…

Is capacity utilisation overrated?

00  Is capacity utilisation overrated? HARARE – It is that month of the year when the Confederation of Zimbabwe Industries announces results of its annual manufacturing sector survey. And, of all the variables that the survey touches on, the spotlight is going to be on capacity utilization, which is a measure of installed capacities of…

IMF Executive Board removes remedial measures applied to Zimbabwe

00 The Executive Board of the International Monetary Fund (IMF) approved yesterday on a lapse of time basis,  the removal of the remedial measures applied to Zimbabwe that had been in place because of the member’s overdue financial obligations to the Poverty Reduction and Growth Trust (PRGT), effective November 14, 2016. Under IMF rules, the…

Colcom’s Q1 GP weighed down by price reductions

00 Colcom’s Q1 GP weighed down by price reductions HARARE, Colcom Holdings revenue for the first quarter of 2017 is slightly higher than prior year comparable period largely on increased volumes traded. Group Chief Executive Dino Tumazos told the AGM that the increased revenue however could not directly translate to a growth in gross profit…

PPC seeks to develop fully integrated plant in Harare after commissioning $85m Mill

00 PPC seeks to develop fully integrated plant in Harare after commissioning $85m Mill HARARE – PPC Zimbabwe commissioned its $85 million milling Harare plant today, which will see combined annual production capacity rising to 1.4 million tonnes. The plant, constructed mainly by Chinese contractors as part of the financing package, will do 700 000…

Asa Resources closes Harare,Joburg admin offices as nickel production rises

00 Asa Resources closes Harare,Joburg admin offices as nickel production rises HARARE – ASA Resources has closed the Harare and Johannesburg administrative offices as part of a wider group restructuring exercise which seeks to ultimately lower operational costs. Group Chief Executive Officer Yat Hoi Ning in a quarterly update for Q2 ended 30 September 2016…

Parliament to push mostly pro-economy Bills including amendments to the Indigenisation Act

00HARARE President Robert Mugabe has tabled over 20 Bills that should be expedited during the Fourth Session of the 8th Parliament, majority of which are aimed at stimulating the economy and re-aligning with the new Constitution. Officially opening the 4th Session of the 8th Parliament, President Mugabe said while the economy is faced with a…

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