Simbisa Brands full year profits increases 134% amid economic hardships

ZIMBABWE – Zimbabwe’s Quick service restaurant (QSR) group, Simbisa Brands Limited’s profit for the year ended June 30, 2019 jumped by 134% to US$32 million despite a decline in total customer count. Zimbabwe, which is […]

Sugar processor Tongaat postpones release of audited full year financial results

SOUTH AFRICA – South African based sugar producer, Tongaat Hulett, has again postponed the release of its audited financial statement for the latest full year ended March 31 from the previously anticipated release date of […]

Financial service groups rally to support Zimbabwe agriculture sector

ZIMBABWE – CBZ Bank, a commercial bank in Zimbabwe is set to bankroll 30, 000 ha under command agriculture soyabeans growing for 2019/2020 summer cropping season to boost adequate production of the cooking oil raw […]

ZAMCO to dispose it’s 57.4% stake in Star Africa amid profitable turn around

ZIMBABWE – The Zimbabwe Asset Management Company (ZAMCO) is planning at disposing its 57.4% stake in Star Africa corporation limited, manufacturing and marketing sugar-based products under the brand names, Goldstar Sugar and Country Choice Foods. […]

Zimbabwe imports 17,000 tonnes of maize from Tanzania to ease shortage

ZIMBABWE – Zimbabwe has commenced importation of 17,000 tonnes of maize from Tanzania to alleviate food shortages brought about by the El-Nino-induced drought compounded by Cyclone Idai which hit Zimbabwe in March, destroying many crops […]

Zimbabwean government approves US$51m agriculture mechanization deal

ZIMBABWE – The government of Zimbabwe has approved a US$51 million farm equipment deal with John Deere for the supply of agricultural mechanisation equipment, to boost the Farm Mechanisation Programme. The loan arrangement will be […]

GMAZ, Goldstone International ink wheat supply and funding deal

ZIMBABWE – The Grain Millers Association of Zimbabwe (GMAZ) has secured a new continuous grain supply and funding deal with a South African based trade financier, Goldstone International. The initial deal is expected to see […]

Stock exchange suspends Tongaat Hullet’s Zimbabwe unit

ZIMBABWE – The Zimbabwe Stock Exchange (ZSE) has suspended Tongaat Hullet Zimbabwe’s subsidiary, Hippo Valley Estates Limited, from trading its shares on the local bourse. According to the stock exchange, the follows the sugar giant’s […]