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Econet Seeks To Recover $13, 7b Exchange Rate Losses

NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love. ....

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Econet Seeks To Recover $13, 7b Exchange Rate Losses

Econet Seeks To Recover $13, 7b Exchange Rate Losses
thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.

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Delta in solid performance - Zimbabwe Situation


Delta in solid performance
Business Writer
Delta last week released a strong set of results for the full year to March 2021 despite operating in an environment that was characterised by restrictions to social and economic activity implemented by authorities in response to the advent of the novel coronavirus (Covid-19) pandemic.
Delta largely makes more sales when people are free to go about their social and economic activities.
During the period under review, at least five months (March to May 2020 and January to February 2021) were under high lockdown levels.
In addition to reduced business activity arising from the Covid-19 lock downs, the operating environment was characterised by depreciation of the local currency and prevalence of multiple exchange rates, and hyperinflation which eroded consumer disposable incomes. ....

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Mnangagwa Ally Turns US$22m Glass Firm Into Cattle Pen


Staff Reporter/Agencies
PROMINENT Gweru businessman Douglas Makwande has set himself on a collision course with the Gweru City Council after converting premises of Zimbabwe Glass Holdings (Zimglass) into a cattle pen for his 100 herd.
The businessman, a close ally to President Emmerson Mnangagwa, claims he acquired the premises for US$22 million although this is strongly challenged by his workers.
Urban farming remains an offence in the Gweru and indeed in many cities and towns in the country.
The giant 10-hectare premises located along Bristol Road in Gweru are now used as grazing and a cattle pen for Kwande’s cattle, according to media reports. ....

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ZSE has its best month in a year - Zimbabwe Situation


ZSE has its best month in a year
Business Reporter
The Zimbabwe Stock Exchange had its best closing month in more than a year after its market capitalisation closed at $531.7 billion.
Since October 2020, the ZSE has closed higher than the previous month. Turnover for June, was also the second-highest for the period under review.
Meanwhile, for the week to 31 March 2021, the ZSE market capitalisation gained 8.96 percent to close at $531,7 billion.
At the close, the ZSE All Share Index was 7.96 percent firmer at 4,488.78. Its year to date gain is now 70,27 percent.
The week’s best performing Index was the ZSE top 10 Index which added 10.76 percent to 2 610,46. ....

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