Business

AFRICAN lithium developer, Prospect Resources (Prospect) has undertaken a material cost reduction strategy, with operating costs set to be cut by 57%, so that funds raised meet its requirement for an extended lockdown period induced by COVID-19. BY MTHANDAZO NYONI In its first quarter report, Prospect said it had undertaken …

Business / Companies Econet taps AR to launch YoPlay Hunt game – a 1st in Africa by Agencies <!– –> Mr Navdeep Kapur – Chief Commercial Officer at Econet Econet Wireless Zimbabwe today launched YoPlay Hunt – an Augmented Reality (AR) technology based mobile game that is says is set …

ZIMBABWE Stock Exchange listed-Fidelity Life Assurance realised profit after tax of $74 million during the period ended December 2019 from a loss position of $3,8 million prior year due to a major growth in revenue. BY FIDELITY MHLANGA Total revenue grew by 52% to $503,6 million from $331,9 million during …

Business / Local ‘Zimbabwe’s future is exciting’ says Mthuli Ncube by Mandla Ndlovu <!– –> Finance and Economic Development Minister Mthuli Ncube has expressed optimism over the economic future of the country saying the government is implementing reforms that will make Zimbabwe exciting. In a statement issued on Wednesday Ncube …

THE foreign currency earning sectors of manufacturing, tourism and mining will receive just $4,52 billion – the shorter end of the $18 billion stimulus package despite the impact of COVID-19 being more pronounced in those sectors. BY TATIRA ZWINOIRA Meanwhile, Treasury has allocated $6,08 billion to agriculture, while current drought-like …

Business / Economy ‘Zimbabwe’s economy most vulnerable in the region’ by Staff reporter ZIMBABWE’S economy is vulnerable, with its growth trends now 2% below the average of sub-Saharan Africa’s economic expansion, partly due to exchange rate misalignment, volatile weather patterns, and unsustainable fiscal deficit, a new report has revealed. According …

REGIONAL cement maker, PPC says it expects to record a 80%* decline in sales volumes on its Zimbabwe subsidiary for the month of April due to the impact of the COVID-19-imposed lockdown to contain the spread of the virus. BY FIDELITY MHLANGA Zimbabwe has been under lockdown since March 30, …

With Zimbabwe’s second term starting and Online Learning becoming the new norm, the need to have a good connection to the internet is a must. Internet connectivity will be required to connect to platforms such as Zoom for Education, Google Classroom and even WhatsApp – a platform accessible to almost …

Business / Companies Zimbabwe Industry capacity utilisation to fall to 27% by Staff reporter <!– –> The Confederation of Zimbabwe Industries (CZI) has projected that industry’s capacity utilisation will fall to 27% this year if the government does not change its policy direction. According to the CZI’s 2019 CZI Manufacturing …

A NUMBER of listed companies failed to beat the extended deadline of up to end of April to release their 2019 financial statements due to the prolonged lockdown stemming from COVID-19. BY FIDELITY MHLANGA The Zimbabwe Stock Exchange last month issued a blanket extension for all companies whose half-year and …