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Externalisation probe begins

00HARARE Finance and Economic Development Minister Patrick Chinamasa has said government has started investigations to identify individuals and companies involved in externalising foreign currency from Zimbabwe and in turn fuelling the current cash crisis. Zimbabwe is battling an acute cash shortage attributed to several factors chiefly externalisation and low exports. The country’s monetary authorities have…

Industrials onslaught continues on select heavyweights

00Industrials onslaught continues on select heavyweights HARARE -The unrelenting stock-market bull run demands some respect as it has been on the rise for 10 consecutive weeks on the back of increased local demand and reduced foreign selling. The gains in most stocks coupled by increased demand powered the Industrial index to 171.73 (+1.35 points). Outstanding…

ZSE continues to rally as demand for blue chips increases

00ZSE continues to rally as demand for blue chips increases HARARE- The local bourse continued to perform very well on the back of elevated demand across all sectors as fund managers rebalance their portfolios towards safer investments on the market. Econet and Seedco carried the day as demand from local investors remains firm.  Econet added…

ZSE inches higher but ATS challenges delay trading

00ZSE inches higher but ATS challenges delay trading  HARARE – The stock market opened late afternoon on Tuesday due to a technical challenge with the Automated Trading System. Trading only opened way after lunch but inspite the delays, the Industrials Index continued to inch higher. At the close of trades, the mainstream Index added 0.81…

ZSE bull run continues albeit in subdued trades

00ZSE bull run continues albeit in subdued trades HARARE- The Zimbabwe Stock Exchange opened the week higher albeit marginally as investors continue to scrap for the few shares available on the market. Big caps Old Mutual and Econet continued on their bull run adding 0.75c and 0.05c respectively.  The Insurance heavyweight traded at 377c with…

Zimbabwe falling behind – World Bank

00Zimbabwe falling behind – World Bank HARARE – Zimbabwe is among the six countries in Africa that saw their debt to GDP ratios increasing by more than 20 percent, a report released by the World Bank says. The report, Africa’s Pulse, says economic growth in Sub-Saharan Africa is rebounding in 2017 after registering the worst…

FMB Malawi eyeing Barclays Bank PLC stake in BBZ

00FMB Malawi eyeing Barclays Bank PLC stake in BBZ HARARE – First Merchant Bank Malawi is engaged in discussions with Barclays Bank Plc in relation to the potential acquisition of its interests in Barclays Bank Zimbabwe. In a cautionary statement released by FMB in Malawi this morning, the group said discussions with BB PLC are…

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…

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