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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.

DPC sues failed banks’ executives

By |August 2nd, 2017|Categories: Headlines|

The Deposit Protection Corporation (DPC) has started taking legal action against shareholders and directors of banks whose institutions failed due to poor corporate governance. DPC chief executive officer John Chikura said this in Bulawayo said DPC recently started suing of shareholders and directors and these court cases are playing out in the courts. About eight banks have collapsed in recent

ZSE July trading update

By |August 1st, 2017|Categories: Headlines|

Zimbabwe’s economy has continued to shrink, leading to growing unemployment and significant underemployment, an international research body has said. A recent Business Monitor International (BMI) report said a weak labour market would continue to constrain consumption growth over 2017. BMI said they believed that income insecurity, together with low income levels, would gear consumption toward subsistence-based spending preventing significant consumption

NSSA explains pension payouts

By |July 31st, 2017|Categories: Headlines|

Actuaries advised NSSA that increasing pension payouts from $60 to $100 per month would deplete the pension fund before 2045, Public Service, Labour and Social Welfare Deputy Minister Tapiwa Matangaidze has said. He was responding to a question asked in Parliament last weekcabout why NSSA failed to live up to government’s promise that pensioners would be paid $80 at the

ZSE state position on CFI saga

By |July 28th, 2017|Categories: Headlines|

ZSE today published a notice saying it has not been formally advised that ,Messina Investments and any other parties it is acting in concert with, has passed the 35% threshold which compels them to make an offer to the minorities in terms of the ZSE Listing Requirements. ZSE views the notice by Messina to buy shares at 46c, exclusive of

Messina Investments to pay 46 cents for CFI

By |July 27th, 2017|Categories: Headlines|

BAT reported its half year results for the half year ended 30 June 2017, showing a 22% increase in earnings per share to 22 cents from 18 cents prior comparative. The Group declared an interim dividend of 22 cents, an increase of 22% from what was declared prior year comparative.Total revenue amounted to $16.7 million, a 0.5% reduction from prior

Delta close Vic Falls depot, Innscor to invest in Bulawayo

By |July 26th, 2017|Categories: Headlines|

Delta Beverages, the country’s largest beverages manufacturer is closing its Victoria Falls depot, as part of a rationalization exercise, the company has confirmed. Delta corporate affairs director, Alex Makamure yesterday said the Zimbabwe Stock Exchange-listed firm had plans to convert some of its sites throughout the country to purely distribution depots, with no customer collection facility. Delta said it periodically

No cash shortages: Chinamasa

By |July 25th, 2017|Categories: Headlines|

Finance minister Patrick Chinamasa yesterday described the current cash shortages as a mirage, saying the government was satisfied with the prevailing liquidity position obtaining in the country. Addressing guests during the unveiling of a low-density housing project in Masvingo, Chinamasa said cash shortages were on the fiscus, adding the government was working hard to address the movement of money through

PPC CEO, Board chair resign

By |July 24th, 2017|Categories: Headlines|

PPC’s CEO Darryll Castle has resigned less than a week after Tito Mboweni stepped down from the board. According to Business Day, Mboweni allegedly quit over irreconcilable differences  about the strategic direction of the company and its proposed merger with Afrisam.  PPC’s CEO Darryll Castle has resigned less than a week after Tito Mboweni stepped down from the board. According

Chinamasa keeps 2017 growth rates at 3.7%

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

The economy is expected to register significant growth of 3.7 percent this year, underpinned by strong performance in agriculture of 21.3 percent; mining 5.1 percent; and electricity and water 2.5 percent, Finance and Economic Development Minister Patrick Chinamasa has said. Chinamasa said the country’s total debt, as at end December 2016, was estimated at $11.3 billion, of which public and

Zimplow reports improved half year results

By |July 20th, 2017|Categories: Headlines|

A good agricultural season saw Zimplow record a 77% growth in revenue for the 6 months ended 30 June 2017. Turnover for the period amounted to $14.7 million up from $8.2 million prior year comparative. The Group managed to turn a loss of $2 million in HY2016 to a profit of $262,737 for the HY2017. Cash flow from operating activities