Monday, June 18, 2018
Tawanda Musarurwa While British American Company (BAT) Group has been pushing for new and better ways of smoking, the very basic product is doing wonders for its local subsidiary BAT Zimbabwe. Last week, BAT chief executive Nicandro Durante said the group had made significant strides with regards to the development and...
Business Writer The National Social Security Authority has increased its shareholding in Rainbow Tourism Group Limited after following its rights in the hospitality group’s latest capital raise as Nicholas van Hoogstraten snubbed the cash call. NSSA is the underwriter of RTG’s $22,5 million rights issue which recorded a 56,52 percent subscription...
Rejoins the group after eight years . . . Matsaira calls it a day Martin Kadzere Tsl Limited has appointed Pat Devenish as its group chief executive officer, replacing veteran banker Washington Matsaira, who was at the helm of the group since 2012. Devenish is not new to the group, having previously...
Africa Moyo British American Tobacco (BAT) Zimbabwe has recorded an 8 percent increase in revenue to $2,7 million for the year ended December 31, 2017 spurred by a strong sales performance. Sales rose by 10 percent compared to the year earlier, largely due to increased volumes across all categories. The company’s low...
Livingstone Marufu Zimbabwe Stock Exchange- listed ZB Financial Holdings says it is keen to fund $100 million worth of projects under Government's 100-day programme to expedite their completion. Government initiated the 100-Day Works Programme for all ministries to inculcate a culture of hard work towards transforming the domestic economy under the...
Good performance across Zimplow Holdings’ units saw the group overturning a $2,42 million FY2016 loss to achieve a profit after tax of $3,44 million in 2017. In a statement of the financials, group Chairman Thomas Chataika attributed the profitability to a good rainfall season, supportive Government policies as well as...
Kudzanai Sharara The latest decision by an “unknown entity”, using the CFI Holdings Limited (CFI) logo, to make an offer to purchase the company’s shares at a 35,68 percent premium to the current trading price is challenging the Zimbabwe Stock Exchange’s resolve to keep the listed entities on check. On the...
Tinashe Makichi Businessman Tawanda Nyambirai is set to invest $12 million in Arcturus Mine, which he acquired from Metallon Gold Zimbabwe, amid revelations he is planning further investments into mining with exploration for Greenfield projects in Kadoma already underway. Arcturus Mine had been under care and maintenance after running into a...
Business Writer Spirits and wine maker, African Distillers (Afdis) says demand for its products during the half-year period ended 31 December 2017 was firm, but due to foreign currency challenges the company experienced inconsistent product supply in the market. In a statement of the financials, the company’s chairman Pearson Gowero said...
Kudzanai Sharara Quick services restaurant and international franchise Pizza Hut, which opened its doors early February says it has had a few issues with securing import permits amid overwhelming demand for its products. The company said it was “adjusting to doing business in Zimbabwe,” and has faced a few issues with...