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Covid-induced demand for food to spur Seed Co The Zimbabwe Independent
SHAME MAKOSHORI
VICTORIA Falls and Botswana Stock Exchange-listed Seed Co International Limited (SCIL) is to lift full-year revenues to March 2021 by 23% as regional countries, terrified by potentially dire outcomes of a blazing pandemic, beef up food reserves in preparation for the worst, according to a report by analysts at Inter Horizon Securities (IH).
The Covid-19 scourge has returned with a more dangerous second wave in the past few months, forcing African governments to ground economies, and compromising their abilities to produce food to feed the continent’s estimated 1,3 billion citizens.
The Zimbabwe Independent
Taurai Mangudhla
CONFUSION reigns over valuation of the Old Mutual and PPC shares that were suspended from the Zimbabwe Stock Exchange (ZSE) in June 2020 with auditors having to ponder various possible calculations in the accounts of their clients.
This comes amid a growing push in the market to use prevailing share prices for the two stocks on the Johannesburg Stock Exchange (JSE), where they are trading, and calculate their local value at the prevailing interbank auction rates.
The share valuation is material to the fees earned by fund managers as well as the asset base of companies who are holding these stocks in this inflationary environment.
The Zimbabwe Independent
November 27, 2020
THE protracted dispute between RioZim and the military, as well as a company owned by Pakistani nationals Falcon Resources over chrome mining claims in Darwendale, Mashonaland West province is a blow to President Emmerson Mnangagwa’s drive to lure investment into the country and stem the rapid fall in foreign direct investment.
Kudzai Kuwaza
RioZim won its protracted dispute with the military and Falcon Resources in a recent ruling by the Supreme Court.
The dispute started sometime in August 2018 when Defence and War Veterans Affairs minister Oppah Muchinguri declared RioZim’s mining claims a cantonment area and offered them to Falcon Resource, which was a violation of the law.
HARARE – Zimbabwe’s capital markets are likely to see a spike in US dollar-denominated assets after Government last year allowed insurance companies and pension funds to collect premiums and contributions in foreign currency.
And because these entities typically need to grow these funds and pay them back in the currency of collection, demand for foreign currency denominated investment assets in the country will rise.
Statutory Instrument 280 of 2020, which was promulgated last November, amended the Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) Regulations to allow insurance companies and pension funds to transact in foreign currency.
Association of Investment Managers of Zimbabwe chairman Mr Jubelah Magutakuona, said the move will boost the local capital markets.