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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…

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…

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…

Smartvest Wealth Managers (ex-AfrAsia Capital Management) officially launch new brand

00 Smartvest Wealth Managers (ex-AfrAsia Capital Management) officially launch new brand HARARE – Smartvest Wealth Managers formerly AfrAsia Capital Management (ACM) has officially launched following the successful conclusion of a scheme of Arrangement, which culminated in former Reserve Bank of Zambia governor Michael Gondwe taking up the largest shareholding in the company. Smartvest rebranded in…

Seedco records sharp increase in H1 turnover but write offs, finance charges widen loss

00 Seedco records sharp increase in H1 turnover but write offs, finance charges widen loss  HARARE – SeedCo turnover increased sharply in the half year to September 30 but high finance charges, inventory write-offs and exchange losses saw the group, which traditionally makes a loss during the period, widen that position to $9.3 million from…

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…

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