STANBIC Bank Zimbabwe has exceeded $1 billion deposits in the financial year ended December 31, 2017. The bank’s customers are, however, struggling to settle foreign payments as a result of foreign currency shortages. Since last year, Zimbabwe’s banking institutions have been facing the depletion of nostro accounts used in funding foreign payments. The trend has […]
DHL, a unit of German Post, has been operating in Zimbabwe since independence in 1980. Logistics firm DHL International says it will expand its operations in Zimbabwe after receiving government assurance that key provisions of the controversial indigenisation policy had been scrapped. The Minister of ICT, Postal and Courier Services Supa Mandiwanzira told journalists after a […]
Cost management initiatives undertaken during the year resulted in a 22 percent decline in average production costs. WILLDALE’s after tax profit for the year ended 30 September 2015 grew by 77% to $214 086 from a loss position of $931 011 in prior year and the group says it is now positioned to sustain profitability […]
PELHAMS Limited has applied for voluntary suspension in the trading of its shares with immediate effect having failed to meet its debt obligations. According to a statement from the Zimbabwe Stock Exchange (ZSE) the company notified the bourse on 24 November 2015. “Pelhams Limited wishes to advise all Shareholders that the Company has applied for […]
Zimbabwe’s Economic Development Minister Patrick Chinamasa said on Thursday the country’s economy would grow by 2.7 percent in 2016, after he rolled out measures aimed at addressing a deepening economic crisis. Zimbabwe’s economy is expected to grow by 1.5 percent this year, after initially being projected to grow by 3.5 percent. Announcing the US$4 billion […]
Leading international express and logistics company, DHL Express will be continuing its expansion and investment strategy across Sub-Saharan Africa and considers Zimbabwe as a key market within this strategy. DHL managing director of Express Sub-Saharan Africa, Charles Brewer who is in the country said Zimbabwe was seen as a strategic business hub for DHL in […]
ZIMBABWE’S firms are haemorrhaging from costs incurred from delays at the country’s borders, which they blame on the Zimbabwe Revenue Authority (ZIMRA), the Financial Gazette can report. According to industry sources, the delays are being caused by the revenue collector’s centralised declaration system under which bill of entry documents are no longer processed at border […]
The value of investments can go down in value as well as up, so you could get back less than you invest. Past performance does not necessarily indicate a financial product’s future performance. This website aims to provide information to help you make your own informed decisions. Our publications, ratings and analysis should be viewed as an additional investment resource, not as your sole source of information. This website does not provide personal advice based on your circumstances. To obtain advice tailored to your situation, please contact a professional financial adviser.