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Rwanda bourse aims to boost listings, debt market in 2014

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Posted by admin 11 days ago (http://feedproxy.google.com)
Celestin Rwabukumba is this year scrambling to add a new financial listing on the Rwanda Stock Exchange, automate the bourse, launch a market for smaller firms and encourage more companies to use the debt market to raise capital.

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Zimbabwe's Marange diamond sales earn $99 million in Q1

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Posted by admin 11 days ago (http://feedproxy.google.com)
Diamond exports from Zimbabwe's Marange fields, which hit the headlines over the deaths of small-scale miners six years ago, earned $99 million at auctions in Belgium and Dubai during the first quarter of 2014, official data showed on Monday.

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National Blankets seeks working capital boost

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Posted by admin 10 days ago (http://source.co.zw)
BULAWAYO, April 9 (The Source) – Bulawayo textile company National Blankets, which was placed under administration in 2012, is seeking a $500, 000 working capital boost to meet rising demand for its products, an official has said. The company’s judicial manager Phillip Ndlovu said the firm’s short-term requirements were $1 million, but it had last year […]

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Vumbachikwe resumes operation, still under EMA scrutiny

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Posted by admin 10 days ago (http://source.co.zw)
BULAWAYO, April 9 (The Source) – Duration Gold’s Vumbachikwe Mine in Gwanda has resumed operations after the expiry of the three week moratorium imposed by the Environmental Management Agency over its handling of toxic material. Although officials from the company were tight-lipped, EMA Director for Environmental Services Aaron Chigona told The Source that the mine […]

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Willdale seeks to raise $3,2 mln through rights issue

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Posted by admin 10 days ago (http://source.co.zw)
HARARE, April 9 (The Source) – Brick maker Willdade is seeking shareholder support to raise $3,25 million through a rights issue to restructure its debt and boost volumes. Old Mutual Life Assurance Company has undertaken to underwrite the capital raising initiative. In addition, major shareholders who among them own 52,67 percent of the issued ordinary […]

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Tanganda exports 75pct of tea production, seeks to boost output

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Posted by admin 10 days ago (http://source.co.zw)
MUTARE, April 9 (The Source) – Zimbabwe’s largest tea producer, Tanganda is exporting 75 percent of its annual production and is looking to acquire a tea blending and packaging plant to increase output, a company official has said. “Our local market is consuming 25 percent of our tea production. We are exporting the rest to […]

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ZSE firms cleared of price manipulation charges

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Posted by admin 10 days ago (http://source.co.zw)
By Bernard Mpofu, HARARE, April 9 (The Source) – Three listed companies have escaped censure from the Securities and Exchange Commission of Zimbabwe following a three-month investigation over alleged price manipulation, sources said on Wednesday. Sources familiar with the probe said SEC cleared financial group ABC Holdings, Fidelity Life Assurance Company and agro industrial concern […

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Tobacco firms to spend $33.5 million on afforestation programmes

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Posted by admin 10 days ago (http://source.co.zw)
HARARE, April 9 (The Source) – Zimbabwe’s tobacco firms will spend nearly $33.5 million over seven years in programmes meant to curb deforestation from tobacco-related activities, a watchdog said on Wednesday. The money will be raised through a 0,5 percent levy on net annual tobacco earnings, said Maggie Okore, chief executive of the Sustainable Afforestation […]

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