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Zimbabwe’s largest telco Econet reports 41pct dip in PAT after tariff cut

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Posted by admin 4 days ago (http://source.co.zw)
HARARE, May 21 (The Source) – Econet Wireless Zimbabwe Limited, the country’s biggest telecommunications firm, on Wednesday reported a 41 percent decline in after-tax profit for the year-ended February 2015, as a government-decreed voice tariff cut and taxes on airtime and mobile handsets ate into revenue. “The introduction of a 5 percent excise duty on […]

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Zimbabwe FY15 gold output seen at 17t, small-scale miners drive surge – mining chamber

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Posted by admin 4 days ago (http://source.co.zw)
HARARE, May 21 (The Source) – Zimbabwe is on course to produce 16,7 tonnes of gold in 2015, an 8,7 percent increase from last year after increased output from custom millers, statistics published by the country’s mining chamber showed on Wednesday. First quarter gold output was 4,18 tonnes, a 25 percent jump from 3,336tonnes recorded […]

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Telecel Zimbabwe takes rain check on Parly appearance, cites ongoing court battle

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Posted by admin 4 days ago (http://source.co.zw)
By Chipo Musoko, HARARE, May 21 (The Source) – Telecel Zimbabwe, which is currently embroiled in a legal battle with government over its licencing and compliance with the indigenisation law, on Thursday declined to appear before a parliamentary committee because its case was before the court. Regulator Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) […]

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Zimbabwe stock depository banks on moral suasion as legal lacuna delays demat

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Posted by admin 3 days ago (http://source.co.zw)
HARARE, May 21 (The Source) – Zimbabwe’s Central Securities Depository firm says it will rely on moral suasion to convince the remaining nine of the 61 listed companies that are yet to switch to the electronic platform as the country’s equities market looks to complete its automation, an official said. Gerald Katerere, risk and compliance […]

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OK Zimbabwe FY profit 22pct down as depressed demand persists

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Posted by admin 3 days ago (http://source.co.zw)
HARARE, May 22 (The Source) – OK Zimbabwe, the country’s largest retailer, on Friday reported a 22,2 percent decline in after-tax profit in the year-ended March 2015, largely attributable to persistently depressed consumer demand. After-tax profit was $7,5 million, down from $9,7 million in 2014, OK said in financials published Friday. Revenue was also 4,3 […]

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Zimbabwe’s Innscor plans to re-enter Nigeria, seeks to spread risk in region

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Posted by admin 3 days ago (http://source.co.zw)
By Bernard Mpofu, HARARE, May 22 (The Source) – Zimbabwe’s largest company by revenue, Innscor Africa limited has announced plans to re-enter the Nigerian market and expand its logistics and distribution unit as the conglomerate seeks to minimize its portfolio risk, chief executive officer Toni Fourie has said. With the Zimbabwe business accounting for 88 […]

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NMB.zw | AGM Trading Update by the CEO

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Posted by admin 3 days ago (http://feedproxy.google.com)
NMB Bank acting CEO and MD Benefit P WashayaEconomyThe tough economic conditions continue to present the biggest challenge to our business.  The falling consumer demand and the high rate of company closures is putting pressure on borrowing customers.  Largely due to the erratic rains, the 2014/15 agricultural season is projected to be below expectations.  The likely impact of this

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Old Mutual Securities | Morning Market Wrap 20-May-2015

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Posted by admin 4 days ago (http://feedproxy.google.com)
This research report was prepared by the Research Department of Old Mutual Securities Limited. Old Mutual Securities Limited is a securities trading company licensed by the Capital Markets Authority (Kenya) for the purpose of facilitating trade on the Nairobi Securities Exchange.Here are our views on the news making headlines today for Kenya:Equity to start distributing one million

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