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Kudzanai Sharara

About Kudzanai Sharara

Kudzanai’s background in financial journalism with ZFN, combined with a continuing education in financial management, provide a solid grounding for his work in the research department.

Gvt sets soya bean price at $610 per tonne

By |August 22nd, 2017|Categories: Headlines|

Government has set the price for soya beans to be financed under the Presidential Input Scheme during 2017 /18 season at $610 per tonne, 22% higher than the prevailing market price to encourage production of the oil seeds, Agriculture, Mechanisation and Irrigation Development Minister Joseph Made announced yesterday. The development comes at a time when the government is stepping up

Bakers Inn opens new bakery in Bulawayo

By |August 21st, 2017|Categories: Headlines|

Bakers Inn on Friday opened a half-a-million dollar bakery which will increase daily production output to 220 000 loaves per day from 120 000. Innscor chairperson Addington Chinake said the new production line at Belmont Industrial site will significantly ramp up daily production output. He added the new production line was in response to failure by the bread maker to

Dairibord interims results

By |August 11th, 2017|Categories: Headlines|

Dairibord Holdings reported its results for the half year ended June 30, 2017 showing reduced losses from what was recorded prior year comparative. The food and beverages company reported a loss of $845,313 for the period under review, down 55.45 percent from a loss of $1,897,500 reported prior year comparative. In a statement accompanying the results, Chairman Leonard Tsumba said initiatives to

FML publish circular to acquire NicozDiamond

By |August 10th, 2017|Categories: Headlines|

First Mutual has published a circular to shareholders with regards its plans to acquire the entire issued share capital of NicozDiamond Insurance Limited.  FML also plans to raise $17.25 million through a rights offer of 210,371,395 shares. Subsequent to the proposed NDIL acquisition, FMHL proposes to merge the operations of NDIL and TristarInsurance Company Limited.  An EGM will be convened

African Sun returns to profitability in HY17

By |August 9th, 2017|Categories: Headlines|

African Sun reported revenue growth of 17% to $21.01 million for the half year ended 30 June 2017.  The growth is attributable to an 8% percentage points increase in occupancy, from 37% to 45%. Local rooms sold increased by 21%, international by 33% and regional by 2%. The marginal increase in the regional rooms sold speaks to the weakening regional

ZSE continues on an upward trajectory

By |August 8th, 2017|Categories: Comment|

The ZSE continued with its upward trend  adding 0.52% to close at 208.90. The mining index was flat at 73.92. YTD the main industrials index has gained 44.54%. Turnover for the day was much improved just above $2 million. Activity was mixed between big and mid tier stocks. CFI put on another 6.31% to 54.25 cents while Colcom was the

Cost of living marginally up

By |August 8th, 2017|Categories: Headlines|

The Zimbabwe Revenue Authority says its $3.8 bln revenue target for 2017 will not be negatively affected by the suspension of backdated Value Added Tax on meals for non-resident tourists, an official has said. Finance and Economic Development Minister Patrick Chinamasa last week gave hoteliers relief on the $3 mln worth of back-dated Value Added Tax on meals charged on

Turnall reports loss for FY16, revenue down 41%

By |August 7th, 2017|Categories: Headlines|

Turnall reported its result for the year ended 31 December 2017 showing 41% drop in revenue to $16.9 million down from $29 million prior year comparative. Gross profit amounted to $1.8 million down from $6.6 million. Turnall however reported a loss of $1.2 million against a profit of $106,938 prior year comparative. This is after the Group incurred impairment losses

CBZ reports flat half year results

By |August 4th, 2017|Categories: Headlines|

CBZ reported its results for the half year ended 30 June 2017 showing a decline in profit before tax of $11.9 million from $12.1 million prior year comparative. Return on assets was lower at 1.1% from 1.3% while return on equity was also lower at 8.1% from 8.7%. The performance was slightly underwhelming as the earnings remained stable due to

RBZ creates fund to facilitate repatriation of ZSE foreign trades

By |August 3rd, 2017|Categories: Headlines|

The government has identified a new investor to revive operations at Zisco. Industry and Commerce Deputy Minister Chiratidzo Mabuwa told Business Chronicle in Bulawayo where she is touring companies that of the six investors one had been identified as suitable to revive operations at Zisco. She said Industry and Commerce Minister Dr Mike Bimha would soon announce the new investor