A digital copy of the BH24 (15 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
The Zimbabwe Revenue Authority (ZIMRA) is targeting a 3.2% growth in revenue for 2016 despite economic challenges, with the target expected to be met through ZIMRA's automation program which will increase transparency in revenue collection. The automation program is being expedited to help meet the revenue target and contribute to economic growth. ZIMRA commissioner Gershem Pasi said that while the 2015 target was not fully met due to the economy underperforming expectations, performance was still considered not too bad.
The document provides a weekly market highlights report from Aldwych Capital. It summarizes recent political developments in South Africa and Nigeria, including election results and economic struggles. It also briefly outlines two private equity deals in Africa. Market statistics are presented on African stock performance, currency movements against the USD, and local debt yields. Finally, it provides data on African sovereign eurobonds, including credit ratings, issuance details, pricing, and returns.
The August 2018 Africa Market Update covers the economies of Ghana, Nigeria, Kenya, Tanzania, Uganda and Rwanda. With the Central Bank of Nigeria having defied our forecast for 2018, this issue delves into the dynamics underlying our prognosis and the recent signaling of imminent monetary policy contraction in the near future. Also in this issue, we share thoughts on Zimbabwe's path to economic recovery as the country enters a potentially fragile post-election phase following the July 30th, 2018 general election.
Epic Research has India's best experienced research analyst they keep on eyes 24*7 on market and update Daily & Weekly report of trading market in all market segments like Equity,Comex,Commodity,Forex etc.
We are pleased to release the September 2018 Africa Market Update covering the economies of Zambia, Nigeria, Kenya, Tanzania, Uganda and Rwanda. This report focuses on growing vulnerabilities in Zambia's external position as well as the commencement of party primaries in Nigeria ahead of February 2019 general election. Additionally, this report provides a highlight of the August 2018 Alpbach Forum on impact investment in which StratLink participated in the generation of a declaration aimed at guiding the impact finance ecosystem.
A digital copy of the BH24 (08 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the BH24 (02 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The Zimbabwe Revenue Authority (ZIMRA) is targeting a 3.2% growth in revenue for 2016 despite economic challenges, with the target expected to be met through ZIMRA's automation program which will increase transparency in revenue collection. The automation program is being expedited to help meet the revenue target and contribute to economic growth. ZIMRA commissioner Gershem Pasi said that while the 2015 target was not fully met due to the economy underperforming expectations, performance was still considered not too bad.
The document provides a weekly market highlights report from Aldwych Capital. It summarizes recent political developments in South Africa and Nigeria, including election results and economic struggles. It also briefly outlines two private equity deals in Africa. Market statistics are presented on African stock performance, currency movements against the USD, and local debt yields. Finally, it provides data on African sovereign eurobonds, including credit ratings, issuance details, pricing, and returns.
The August 2018 Africa Market Update covers the economies of Ghana, Nigeria, Kenya, Tanzania, Uganda and Rwanda. With the Central Bank of Nigeria having defied our forecast for 2018, this issue delves into the dynamics underlying our prognosis and the recent signaling of imminent monetary policy contraction in the near future. Also in this issue, we share thoughts on Zimbabwe's path to economic recovery as the country enters a potentially fragile post-election phase following the July 30th, 2018 general election.
Epic Research has India's best experienced research analyst they keep on eyes 24*7 on market and update Daily & Weekly report of trading market in all market segments like Equity,Comex,Commodity,Forex etc.
We are pleased to release the September 2018 Africa Market Update covering the economies of Zambia, Nigeria, Kenya, Tanzania, Uganda and Rwanda. This report focuses on growing vulnerabilities in Zambia's external position as well as the commencement of party primaries in Nigeria ahead of February 2019 general election. Additionally, this report provides a highlight of the August 2018 Alpbach Forum on impact investment in which StratLink participated in the generation of a declaration aimed at guiding the impact finance ecosystem.
A digital copy of the BH24 (08 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the BH24 (02 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Independent US oil explorers are expected to report almost $14 billion in losses for 2015 due to plunging oil prices, with Hess Corp. predicted to lose $1.6 billion in its worst annual performance in at least 28 years; Oil companies have been squeezed severely by the over 70% drop in crude prices since mid-2014, wiping out more than $300 billion in market value and forcing thousands of layoffs, debt restructurings and abandoned projects to conserve cash; Hess cut its 2016 drilling budget by 40% and may have few assets left to sell if it needs to raise cash due to the difficult market conditions facing oil expl
The Confederation of Zimbabwe Industries has urged the government to introduce Local Content Regulation for all sectors of the economy in order to boost local production. The regulation would give preference to local producers over imports for some goods and services. It would also require manufacturers to include a minimum percentage of local inputs in their production. A CZI economist said the regulation could increase competitiveness by promoting local products first and supporting local employment and procurement.
A digital copy of the BH24 (21 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
- The Zimbabwe Stock Exchange registered increases in turnover and volume traded in February, rising 38.4% and 54% respectively from the previous month. However, the market value maintained a downward trend.
- While activity increased on the stock market last month, the ZSE's market capitalization is already down 11.42% for the year. Market watchers forecast the market will recover only 15% this year.
- The change in fortunes on the stock market provides hope that stocks may offer moderate returns after large losses in recent years, though economic challenges remain.
China CAMC Engineering signs $73,5m water treatment contract in ZimZimpapers Group (1980)
A digital copy of the BH24 (01 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the BH24 (08 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Govt to incentivize rand usage in local tourism sector: Minister MzembiZimpapers Group (1980)
A digital copy of the BH24 (11 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
The Zimbabwe Mining Development Corporation has commenced efforts to revive the Golden Kopje Mine by seeking a firm to conduct a feasibility study. The study will develop a business plan and work schedule for reopening the mine. Golden Kopje Mine, located in Chinhoyi, stopped operations in 2006 due to financial constraints but reopened in 2009 before shutting down again in 2014 due to operational challenges. Reopening the mine could boost Zimbabwe's gold production, which increased 34% last year.
The Deposit Protection Corporation (DPC) has called another creditors' meeting for Allied Bank on May 5. This follows a February meeting where $6 million in claims were provisionally accepted. At a June 2015 meeting, $9.7 million in claims were accepted while $356,196 were rejected. The purpose of the latest meeting is to allow creditors who missed the previous two meetings to submit proof of their claims. Allied Bank is currently under liquidation and the assets were $25.8 million while liabilities were $34.4 million when liquidation began in February 2015. The DPC chief executive acknowledged recovering loans and selling assets has proven difficult due to issues such as loans being transferred to third parties and many facilities lacking
SeedCo, a listed seed producer in Zimbabwe, reported a 3% increase in profit after tax for the fiscal year ending March 31, 2016 compared to the previous year, despite challenges from drought, low commodity prices, and reduced government programs. The company's turnover remained unchanged at $96 million year-over-year. SeedCo was able to increase efficiency and offer competitive pricing, which helped increase its gross margin by 7% during the period. The company plans to focus on growing its ultra-early maize seed varieties to meet increasing demand given changing weather patterns.
The government of Zimbabwe is reviewing its Industrial Development Policy and National Trade Policy, which are set to expire at the end of 2016. The director of enterprise development at the Ministry of Industry and Commerce said the policies are being reviewed to develop new policies for 2017-2021. The current IDP has not been successful, as manufacturing capacity utilization declined from 45% in 2012 to 34.3% last year, despite some growth in manufacturing output in 2015. Observers note ongoing challenges like low demand, lack of working capital, power outages and outdated equipment. The trade deficit also widened from 2014 to 2015.
A digital copy of the BH24 (04 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
- A leading Zimbabwean think tank, ZEPARU, forecasts that Zimbabwe's inflation rate will rise slightly from -2.47% in December 2015 to -2.10% by March 2016. This is based on the assumption that policy measures from the 2016 national budget are implemented and the South African rand stabilizes.
- The RBZ is mobilizing long term affordable financing for gold and diamond miners to increase production and export earnings from these sectors. Gold production has been rising in recent years while the diamond sector has underperformed.
- Total Zimbabwe plans to invest $10 million in capital expenditure in 2016 as it looks to maintain service quality across its network of over 100 gas stations in the country.
A digital copy of the Business News 24 (04 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
- Qatar Airways will soon introduce three flights per week to Harare, Zimbabwe as part of expanding business ventures between Qatar and Zimbabwe. The new Qatari ambassador announced the planned flights after meeting with Zimbabwe's President Mugabe.
- Qatar Airways is the flag carrier of Qatar and one of the world's leading airlines. It currently operates 10 flights per week between Johannesburg and Doha and wants to extend some of those to connect Harare.
- The renewed interest in Zimbabwe's aviation sector comes as the national carrier Air Zimbabwe has suspended most international routes due to financial problems. Other airlines have also expressed interest in resuming flights to Harare.
Zimbabwe is expected to increase its refined platinum output by 6% this year due to an expansion project at one of its mines, according to a report by the World Platinum Investment Council. Zimbabwe will boost production from 405,000 ounces last year to 430,000 ounces. This 6% growth is the highest among major platinum producers. In contrast, South Africa and Russia are expected to see declines in output of 6% each. The expansion project is occurring at Zimbabwe Platinum Holdings mine and is projected to allow for the increase in Zimbabwe's platinum production.
Air Namibia is advertising new flight routes from Harare, Zimbabwe to Accra, Ghana and Lagos, Nigeria starting on June 29, 2018. Customers are encouraged to book flights soon to avoid disappointment as seats are selling out. Contact information is provided for booking individual flights or group fares by telephone, email, online, or through a travel agent.
In this edition, you will be enlightened on the cornerstone of international aviation which is the Bilateral Air Service Agreement, commonly referred to as BASA, Africa’s plan for a common airspace and taken on a tour of the Eastern Highlands and the new sky
Independent US oil explorers are expected to report almost $14 billion in losses for 2015 due to plunging oil prices, with Hess Corp. predicted to lose $1.6 billion in its worst annual performance in at least 28 years; Oil companies have been squeezed severely by the over 70% drop in crude prices since mid-2014, wiping out more than $300 billion in market value and forcing thousands of layoffs, debt restructurings and abandoned projects to conserve cash; Hess cut its 2016 drilling budget by 40% and may have few assets left to sell if it needs to raise cash due to the difficult market conditions facing oil expl
The Confederation of Zimbabwe Industries has urged the government to introduce Local Content Regulation for all sectors of the economy in order to boost local production. The regulation would give preference to local producers over imports for some goods and services. It would also require manufacturers to include a minimum percentage of local inputs in their production. A CZI economist said the regulation could increase competitiveness by promoting local products first and supporting local employment and procurement.
A digital copy of the BH24 (21 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
- The Zimbabwe Stock Exchange registered increases in turnover and volume traded in February, rising 38.4% and 54% respectively from the previous month. However, the market value maintained a downward trend.
- While activity increased on the stock market last month, the ZSE's market capitalization is already down 11.42% for the year. Market watchers forecast the market will recover only 15% this year.
- The change in fortunes on the stock market provides hope that stocks may offer moderate returns after large losses in recent years, though economic challenges remain.
China CAMC Engineering signs $73,5m water treatment contract in ZimZimpapers Group (1980)
A digital copy of the BH24 (01 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the BH24 (08 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Govt to incentivize rand usage in local tourism sector: Minister MzembiZimpapers Group (1980)
A digital copy of the BH24 (11 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
The Zimbabwe Mining Development Corporation has commenced efforts to revive the Golden Kopje Mine by seeking a firm to conduct a feasibility study. The study will develop a business plan and work schedule for reopening the mine. Golden Kopje Mine, located in Chinhoyi, stopped operations in 2006 due to financial constraints but reopened in 2009 before shutting down again in 2014 due to operational challenges. Reopening the mine could boost Zimbabwe's gold production, which increased 34% last year.
The Deposit Protection Corporation (DPC) has called another creditors' meeting for Allied Bank on May 5. This follows a February meeting where $6 million in claims were provisionally accepted. At a June 2015 meeting, $9.7 million in claims were accepted while $356,196 were rejected. The purpose of the latest meeting is to allow creditors who missed the previous two meetings to submit proof of their claims. Allied Bank is currently under liquidation and the assets were $25.8 million while liabilities were $34.4 million when liquidation began in February 2015. The DPC chief executive acknowledged recovering loans and selling assets has proven difficult due to issues such as loans being transferred to third parties and many facilities lacking
SeedCo, a listed seed producer in Zimbabwe, reported a 3% increase in profit after tax for the fiscal year ending March 31, 2016 compared to the previous year, despite challenges from drought, low commodity prices, and reduced government programs. The company's turnover remained unchanged at $96 million year-over-year. SeedCo was able to increase efficiency and offer competitive pricing, which helped increase its gross margin by 7% during the period. The company plans to focus on growing its ultra-early maize seed varieties to meet increasing demand given changing weather patterns.
The government of Zimbabwe is reviewing its Industrial Development Policy and National Trade Policy, which are set to expire at the end of 2016. The director of enterprise development at the Ministry of Industry and Commerce said the policies are being reviewed to develop new policies for 2017-2021. The current IDP has not been successful, as manufacturing capacity utilization declined from 45% in 2012 to 34.3% last year, despite some growth in manufacturing output in 2015. Observers note ongoing challenges like low demand, lack of working capital, power outages and outdated equipment. The trade deficit also widened from 2014 to 2015.
A digital copy of the BH24 (04 December 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
- A leading Zimbabwean think tank, ZEPARU, forecasts that Zimbabwe's inflation rate will rise slightly from -2.47% in December 2015 to -2.10% by March 2016. This is based on the assumption that policy measures from the 2016 national budget are implemented and the South African rand stabilizes.
- The RBZ is mobilizing long term affordable financing for gold and diamond miners to increase production and export earnings from these sectors. Gold production has been rising in recent years while the diamond sector has underperformed.
- Total Zimbabwe plans to invest $10 million in capital expenditure in 2016 as it looks to maintain service quality across its network of over 100 gas stations in the country.
A digital copy of the Business News 24 (04 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
- Qatar Airways will soon introduce three flights per week to Harare, Zimbabwe as part of expanding business ventures between Qatar and Zimbabwe. The new Qatari ambassador announced the planned flights after meeting with Zimbabwe's President Mugabe.
- Qatar Airways is the flag carrier of Qatar and one of the world's leading airlines. It currently operates 10 flights per week between Johannesburg and Doha and wants to extend some of those to connect Harare.
- The renewed interest in Zimbabwe's aviation sector comes as the national carrier Air Zimbabwe has suspended most international routes due to financial problems. Other airlines have also expressed interest in resuming flights to Harare.
Zimbabwe is expected to increase its refined platinum output by 6% this year due to an expansion project at one of its mines, according to a report by the World Platinum Investment Council. Zimbabwe will boost production from 405,000 ounces last year to 430,000 ounces. This 6% growth is the highest among major platinum producers. In contrast, South Africa and Russia are expected to see declines in output of 6% each. The expansion project is occurring at Zimbabwe Platinum Holdings mine and is projected to allow for the increase in Zimbabwe's platinum production.
Similar to Getbucks fails to trade on listing (20)
Air Namibia is advertising new flight routes from Harare, Zimbabwe to Accra, Ghana and Lagos, Nigeria starting on June 29, 2018. Customers are encouraged to book flights soon to avoid disappointment as seats are selling out. Contact information is provided for booking individual flights or group fares by telephone, email, online, or through a travel agent.
In this edition, you will be enlightened on the cornerstone of international aviation which is the Bilateral Air Service Agreement, commonly referred to as BASA, Africa’s plan for a common airspace and taken on a tour of the Eastern Highlands and the new sky
Treasury directs ZINARA to disburse 70pc of funds for rehabilitationZimpapers Group (1980)
- The Zimbabwean equities market extended gains from the previous day, with the industrial index rising 1.32% to 95.28.
- Major stocks like Delta Beverages, Innscor, Econet, Colcom, CFI and Nampak saw share price increases, helping drive the overall market upward.
- Only Barclays and Old Mutual saw share price declines on the day.
- The mining index remained flat at 26.24 as several mining stocks stayed unchanged from their previous closing prices.
The article discusses the Zimbabwe Consolidated Diamond Company (ZCDC), which has been operating without a proper legal framework. The permanent secretary in the Ministry of Mines admitted that unlike other state entities, no act of parliament established the ZCDC. It was instead registered as a company under the Companies Act. There are also concerns about the improperly constituted board of the ZCDC and some controversial decisions that have been made. The parliamentary committee questioned the legitimacy of the board's actions in firing employees and replacing them.
The World Bank says Zimbabwe can use the Rapid Results Approach (RRA) to help expedite solutions to its current cash shortage problems. The RRA is a method used to accelerate organizational change through 100-day goal-setting. The government has completed two phases of an RRA program focused on improving ease of doing business. The World Bank country manager says Zimbabwe can transition more quickly to e-commerce by applying the RRA methodology to address cash shortages and encourage electronic payments. The article provides details on Zimbabwe's cash shortage challenges and measures already taken by the central bank to address the problem and incentivize electronic payments and exports.
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float would be between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by lower oil revenues. The central bank will still be able to inject dollars and influence the exchange rate within its foreign reserves, but will no longer target a specific
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float is between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by low oil prices. The central bank will still be able to inject dollars and influence the exchange rate within reserves, but no longer has an explicit target rate for the
The Credit Reference Bureau of Zimbabwe is set to be fully operational by July 31st, with a Czech firm having made significant progress in setting up the necessary soft infrastructure at a cost of $1.8 million to the Reserve Bank of Zimbabwe. The CRB will enhance borrower verification and help banks assess credit risk and reduce non-performing loans. A number of consultative meetings have been held with banks to define the necessary data to be collected and reports generated by the new system.
The National Railways of Zimbabwe (NRZ) requires $400 million in short-term funding for recapitalization. This funding will go toward acquiring new machinery and rehabilitating existing infrastructure to increase the railway's carrying capacity from the current 3.4 million tonnes to 7.6 million tonnes. The funding will also be used to procure 15 new locomotives and 1000 new wagons, as securing this funding would allow NRZ to improve services, increase revenues, and return to profitability.
Zimbabwe's corporate governance weaknesses have contributed to its poor ratings in international surveys, according to an official. Improving corporate governance could significantly boost Zimbabwe's rankings. The official noted that past governance failures have resulted in the current negative perceptions, and that while some methodology reservations exist, the ratings still factor into potential investors' considerations. The government is working to enhance corporate governance in the public sector through various initiatives.
Isabel dos Santos, the billionaire daughter of Angola's President, has been appointed as the new CEO of state energy firm Sonangol and has pledged to overhaul the company to improve efficiency and margins amid low oil prices. She plans to split Sonangol into three units and increase transparency to international standards in order to generate more revenue for Angola, which relies heavily on oil exports. Dos Santos aims to offset the "huge" economic impact of depressed oil prices through the reforms at Sonangol.
The Zimbabwe Flight Crews Association said that the government is not adequately protecting Air Zimbabwe and is instead licensing competitors to service the same routes as Air Zimbabwe, hurting its ability to compete; they argue the national airline should have first right of refusal on routes. Captain Ottis Shonai stated that new airlines have been given licenses to fly the same routes as Air Zimbabwe, which does not happen elsewhere, and that Air Zimbabwe needs route protection from the government as other national airlines receive.
Government has released $500,000 in funding to support the hosting of this year's Sanganai/Hlanganani World Tourism Expo in Bulawayo after the Zimbabwe Tourism Authority faced financial challenges and was contemplating postponing or cancelling the event. The acting ZTA chief executive said the funds will ensure the expo is a success. Over 160 local tourism companies and 28 international exhibitors from countries like Botswana, South Africa and India have registered to participate. International buyers from Europe, Asia, Africa, the Americas and the Middle East are also expected to attend the expo from June 16-18, 2016.
Fastjet Zimbabwe recorded $0.3 million in revenue since commencing operations in October 2015, with an operating loss of $4 million, as the new airline began flights between Harare, Victoria Falls, and Johannesburg. The performance in the first few months of operations was described as "encouraging" by Fastjet, with 91% of flights arriving on time. However, the Zimbabwe operation was not included in Fastjet's key performance indicators for 2015 as it only became operational in October.
- The Beitbridge Hotel in Zimbabwe, owned 40% by the National Social Security Authority (NSSA), has incurred over $2 million in losses since opening in 2014 and has now been closed by majority owner Rainbow Tourism Group.
- An audit before construction found the hotel would be loss-making, but NSSA insisted it proceed anyway. NSSA's investments are under scrutiny as costs for the Beitbridge Hotel ballooned from an initial $3 million budget to over $49 million.
- The closure puts focus again on NSSA's investment strategies that have put pensioners' funds at risk through apparent non-viable projects like the Beitbridge Hotel.
Standard Chartered Bank plans to launch mobile and online banking platforms in 8 African countries including Zimbabwe in the first half of 2016. The bank aims to grow long-term retail banking revenues in Africa 3-4 times faster than regional economic growth. This strategy contrasts with European rivals retreating from Africa due to falling commodity prices and weak currencies. StanChart is expanding its physical presence as well by adding branches in Nigeria, as it seeks to protect and grow its market share on the continent.
Tongaat Hulett's sugar production in Zimbabwe declined 7.4% to 412,000 tonnes for the year ending March 31, 2016. Sales also declined, falling to 403,000 tonnes compared to 491,000 tonnes the previous year. The company reported its Zimbabwe division's financial performance was negatively impacted by lower sugar production and export underperformance. Looking ahead, Tongaat Hulett forecast sugar production could rise up to 12% to 1.15 million tonnes in the new financial year depending on rainfall.
Industry, Finance ministries working on Zimbabwe tariff order for EPA Zimpapers Group (1980)
The Zimbabwean government is working to establish the necessary legal framework to fully implement an Economic Partnership Agreement (EPA) signed with the European Union in 2009, which establishes a free trade area between the EU and Zimbabwe. The EPA grants duty-free access for trade between the EU and Zimbabwe, and Zimbabwe is expected to progressively liberalize 80% of imports from the EU by 2022. Government officials are working with the Ministry of Finance to gazette a Zimbabwe tariff order to pave the way for implementing the trade agreement.
Proplastics, a plastics manufacturer in Zimbabwe, expects to benefit from improved operational efficiencies after commissioning a new plant in the second half of 2016. The new plant is part of the company's broader modernization program, which has already seen a new injection moulding factory and HDPE line commissioned. The CEO said the new plant will improve margins and reduce costs for consumers. For the first four months of 2016, Proplastics' volumes were up 9% and exports contributed 14% to turnover, though overall turnover was flat compared to the prior year due to weaker regional currencies.
MFIs loaned $187m in 2015, but fell into consumptive lending trap Zimpapers Group (1980)
- Microfinance institutions (MFIs) in Zimbabwe have largely failed to improve small businesses as a large portion of their loans have gone towards consumption rather than productive sectors.
- Statistics from the Reserve Bank of Zimbabwe show that between 2013-2015, MFI loans were dominated by consumptive lending rather than productive sector funding as was expected.
- In 2015, MFIs loaned a total of $187.1 million but only $85.6 million (45.7%) went to productive sectors while the remaining $101.5 million (54.2%) were consumptive loans.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
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Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
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The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
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Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.
Getbucks fails to trade on listing
1. By Tawanda Musarurwa
HARARE -Getbucks Financial
Services, which listed on the
Zimbabwe Stock Exchange
yesterday, made history for
being the first company not
to trade on its first day of
listing as there were no tak-
ers for the company shares.
Getbucks is the first IPO to
list since 2007 when engi-
neering firm ZECO listed.
Following its listing, the ZSE
announced that the company
now has 1,093,567,251 new
shares in issue.
These are basically the
shares held by shareholders
which are tradable or 'issued
share capital'.
Yesterday, GetBucks
released the results of their
IPO which raised $73 363
from the general public,
while the balance of $3,22
million was raised from the
underwriters.
GetBucks Zimbabwe is owned
55 percent by Mauritius-reg-
istered GetBucks Limited
and 34,06 percent by local
firm Brainworks Capital,
with pension funds holding
the remaining shares.
The ZSE has suffered a
drought of new listings and
the other listings on the
market over the last couple
of years have been achieved
by way of Introduction.
In 2015, Simbisa Brands and
Proplastics listed on the ZSE
by way of introduction.●
News Update as @ 1530 hours, Friday 15 January 2016
Feedback: bh24admin@zimpapers.co.zwEmail: bh24feedback@zimpapers.co.zw
Getbucks fails to trade on listing
MyBucks Global CEO Dave van Niekerk
2. BH24
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3. By Funny Hudzerema
HARARE - Zimbabwe to date
exported 21,1 million kilogrammes
of Virginia tobacco worth $160,9
million since trading commenced
last year.
The golden leaf has been sold at an
average price of $7, 61 per kg.
During the samel period last year,
the country has exported a total
of 7,3 million kg of tobacco worth
$51,2 million at an average price
of $7,02 per kg, reflecting a sig-
nificant upturn in both volume and
value in the current export season.
The bulk of the locally produced
tobacco has been destined for the
Chinese market. Latest figures
from the Tobacco Industry and
Marketing Board (TIMB) show that
China has imported a total of 18,6
million kilograms of the golden leaf
at a total value of $150,7 million at
an average price of $8,10 per kg.
Besides China, the other top buyers
of Zimbabwe’s golden leaf (in terms
of mass) include Belgium which
imported 894 040 kg worth $4,3
million at $4,85 per kg, followed by
neighbouring South Africa, which
has to date purchased 557 400 kg
for $1,2 million at $2,21 a kg.
In fourth position is Indonesia
which spent $2,2 million on 473
220 kg at an average price of
$4,84 a kg, followed by the Rus-
sia that bought 268 400 kg for $1
million at $4,08 per kg. The United
Arab Emirates has so far purchased
178 200 kg for $578 160 at $3,34
per kg, while Armenia scooped up
79 200 kg for $229 680 at $2,90
per kg.
Vietnam has so far shelled out
$128 000 for 40 000 kg at $3,20
per kg, with Holland buying 19 800
kg for $176 170 at $8,90 per kg.
Taiwan purchased 19 200kg of
Zimbabwean tobacco to the value
of $88 512 at an average price of
$4,61 per kg.
Tobacco is one of Zimbabwe’s major
agricultural exports, accounting for
over 10 percent of the country’s
gross domestic product.●
3 news
Zim exports tobacco worth $161m
02 03
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5. HARARE - The Zimbabwe
Council for Tourism (ZCT) will
next month hold a convention
in the resort town of Victoria
Falls to tackle issues affecting
the industry.
Formed in 1988, the ZCT is
the voice of operators in the
travel and tourism sector,
representing players in eight
sectors among them hospital-
ity, tour operators, airlines as
well as car hire companies.
ZCT president Francis
Ngwenya said they decided
to replace their annual con-
gresses with a convention
since the former restricted
attendance mainly to mem-
bers of the organisation.
“The tourism convention will
be a platform for the widest
possible focus on matters
related to the travel and tour-
ism sector,” he said.
“No such national tourism
gathering has been convened
in Zimbabwe since independ-
ence.”
The meeting, which will run
from February 10 to 12, will
be held at Elephant Hills hotel
and is expected to attract over
300 delegates.
Participants are also expected
to come from regional coun-
tries including Angola, Bot-
swana, Mozambique, Namibia,
South Africa and Zambia.
It will run under the theme,
“Growing emerging economies
through tourism develop-
ment.”
“The event will be a boost
for business in Victoria Falls
which traditionally is low dur-
ing February,” Ngwenya said.
He said the gathering would
be critical in mapping strat-
egies towards ensuring the
country attained the target of
boosting tourist arrivals to
5 million by the year 2020
and to earn the targeted $5
billion.
- New Ziana.●
5 news
ZCT to hold tourism convention in Vic Falls
7. HARARE - The Zimbabwe
Farmers Union is urging
farmers to prepare for future
droughts by investing in irri-
gation and water harvesting
infrastructure as the severity
of climate change is increas-
ing.
ZFU executive director Paul
Zakariya said farmers should
plan for the future in order to
be prepared if the country was
to experience more dry spells.
“As a Union we urge farm-
ers to look into the future
and employ alternatives that
include irrigation and water
harvesting as relying on rain
is not the way to go, given the
rapidly changing climate,” he
said.
Mr Zakariya said water har-
vesting, which many farmers
did not practice, should be
adopted as soon as possible in
order to lessen the hardships
that farmers throughout the
country experienced.
“Farmers should practice water
harvesting in order to supple-
ment the poor rains,” he said.
Water harvesting is the collec-
tion of runoff for productive
purposes.
“Instead of runoff being left to
cause erosion, it is harvested
and utilized. In the semi-arid
drought-prone areas where it
is already practiced, water
harvesting is a productive
form of soil and water conser-
vation,” said Zakariya.- New
Ziana.●
7 news
Irrigation and water harvesting the way to go
9. HARARE - The equities market
continued to show bearish form
as the mainstream industrial
index dropped 2.28 (or 2,03 per-
cent) on a week-on-week basis.
Following trading today, which
typified by low activity, the indus-
trial index shed 1.26 to close at
109.88.
A mere two counters traded in
the red. Beverages producer
Delta slumped $0,0270 to close
at $0,6405 and Fidelity Life eased
$0,0025 to $0,0975.
No counter traded in the posi-
tive territory as heavyweights
BAT, Innscor and SeedCo were
unchanged at $12,2000, $0,2400
and $0,8375, respectively.
The mining index was unchanged
from yesterday at 21.74 as Bind-
ura, Falgold, Hwange and RioZim
maintained previous price levels
at $0,0128, $0,0050, $0,0300
and $0,1040, respectively.
Compared to the previous week,
the mining index was down
1.74 (or 7,41 percent). - BH24
Reporter ●
ZSE9
Bourse extends losses as week ends
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11. 11 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
15 January 2016
Energy
(Megawatts)
Hwange 562 MW
Kariba 699 MW
Harare 0 MW
Munyati 22 MW
Bulawayo 24 MW
Imports 100 MW
Total 1338 MW
21 January 2016 - CZI/Herald Business Annual Economic Outlook 2016 Half Day Symposium; Venue: Meikles Hotel, Harare; Time:
08:30 to 12:50hrs
10 February 2016 - Nampak Zimbabwe Annual General Meeting: Venue 68 Birmingham Road, Southerton, Harare: Time 12:00
THE BH24 DIARY
12. JOHANNESBURG - South Africa's
rand weakened in early trade on
Friday, erasing gains of the previ-
ous session, as global risk aversion
caused by fears over the health of
the global economy on falling oil
prices hit risk assets.
Stocks were however set to open
slightly firmer at 0700 GMT, with
the JSE securities exchange's Top-
40 futures index adding 0,50 per-
cent.
Today's big event in the local equi-
ties market is the listing of the
world's largest brewer, Anheuser
Busch InBev on the Johannesburg
Stock Exchange after the Bel-
guim-based brewer won over peer
SABMiller in October.
The rand was 0,73 percent weaker
at 16,5700 by 0650 GMT compared
with Thursday's close of 16,4500.
China's fragile economy, lower
oil prices and local fundamentals
undercut sentiment in Africa's most
advanced economy, analysts said.
"The rand has reattached to these
global themes. It will not take
much to get the rand moving again
as the US, China, oil and local sen-
timent all provide meaningful risk,"
said Rand Merchant Bank currency
strategist John Cairns.
Although the oil price decline is
good for South Africa and the rand
given that the commodity is the
country's biggest single import,
Cairns said "global sentiment is still
very fragile."
In fixed income, the yield on the
benchmark government bond
maturing in 2026 shed 3 basis
points to 9,630 percent
- Reuters●
regioNAL News12
Rand weakens on fragile global sentiment
Kenyan shilling
steady, seen easing
NAIROBI - Kenya's shilling was
stable on Friday and traders
said it was expected to weaken
next week due to increased dol-
lar demand from importers.
At 0717 GMT, commercial
banks quoted the shilling at
102,35/45 to the dollar, the
same as Thursday's close.
"It's very quiet. Both coun-
ters, demand and supply are
very well-matched. Next week
we expect the shilling to be
under pressure. We will have
more demand ... from general
importers and manufacturers,"
a senior trader at one commer-
cial bank said
.- Reuters●
13. Chinese stocks fell back into a
bear market, wiping out gains
from an unprecedented state
rescue campaign as investors
lose confidence in government
efforts to manage the coun-
try’s markets and economy.
The Shanghai Composite Index
sank 3,5 percent at the close,
falling more than 20 percent
from its December high and
sinking below its low during
the depths of a $5 trillion rout
in August. Friday’s decline
was attributed to persistent
investor concerns over vola-
tility in the yuan and a report
that some banks in Shanghai
have halted accepting shares
of smaller listed companies as
collateral for loans.
The selloff is a setback for
Chinese authorities, who have
been intervening to support
both stocks and the yuan after
the worst start to a year for
mainland markets in at least
two decades. As policy makers
in Beijing fight to prevent a
vicious cycle of capital outflows
and a weakening currency,
the resulting financial-mar-
ket volatility has undermined
confidence in their ability to
manage the deepest economic
slowdown since 1990.
“Sentiment on the yuan has
to stabilize before we see sta-
bility returning to the equity
market,” said Ronald Wan,
chief executive at Partners
Capital International in Hong
Kong.
China’s domestic stock market
has become one of the most
visible symbols of waning
investor confidence in Asia’s
largest economy. After cheer-
leading by state media helped
fuel an unprecedented boom in
mainland shares last summer,
the market crashed as regula-
tors failed to manage a surge
in leveraged bets by individual
investors.
While a state-sponsored mar-
ket rescue campaign sparked a
25 percent rally in the Shang-
hai Composite, those gains
were wiped out on Friday as
the index closed at its lowest
level since December 2014.
Losses this year were fueled by
a controversial circuit-breaker
system, blamed for exacerbat-
ing declines before authorities
scrapped the mechanism four
days after its introduction.
Stocks extended losses in the
afternoon after International
Finance News, a publication
managed by the People’s Daily,
reported banks will only accept
shares of CSI 300 constituents
for pledges while cutting the
collateral ratio to 35-40 per-
cent from 50 percent.
- Bloomberg●
internatioNAL News13
China stocks enter bear market as state-fueled rally evaporates
14. By Nigel Gambanga
The diversity that exists among
people has meant that there are
many preferred ways of expres-
sion. That’s the simple principle
that has explained the rise of
numerous social media platforms
that provide different value
propositions.
Instagram is one platform that
exemplifies that. Its use of
imagery and video to capture
moments has helped it create its
own separate avenue for expres-
sion. As is the case with other
social media platforms adver-
tisers and brand specialist have
exploited that.
In the last quarter of 2015, Ins-
tagram looked beyond the United
States and the developed world
and opened up its Instagram
Ads feature to countries around
the world. The service had been
active for a year and a half before
that, slowly being extended to
just 30 countries before being
green lit for the rest of the world.
Instagram’s value for advertising
and brand building has been easy
to sell so far. In markets like the
United States where it has been
actively used for ad campaigns,
the Instagram team has been
quick to highlight a number of
successful campaigns for sales
and product visibility.
The platform leads other social
networks like Facebook when it
comes to engagement with fig-
ures from as recently as Septem-
ber 2015 showing a per-follower
engagement of 4,213 percent
ahead of Pinterest, Facebook,
and Twitter.
Through the presentation of
strong visual cues that include
video, photo and carousel views,
brands can express various con-
cepts through engaging media.
The tie in that Instagram also
provides with other social net-
works through shared posts also
helps enhance this visibility to
other platforms.
A story told visually can be
ported to Facebook, creating
interest in other visually com-
pelling campaigns that are being
carried on Instagram. All this is
unfolding in a world where social
media is increasingly driven by
image and video.
Why isn’t being used it
locally?
In Zimbabwe, the case of Ins-
tagram has only been explored
at the surface mostly because
of the limited following that the
social media platform has among
mobile broadband subscribers.
The high cost of mobile broad-
band and Instagram’s exten-
sive use of data (the platform is
mainly powered by images and
videos) doesn’t help the situa-
tion either.
When it comes to social media
campaigns, local companies and
brands have pledged their alle-
giance to Facebook which has
experienced the highest follow-
ing among social media plat-
forms. The situation has been
amplified by mobile operator
products like social media bun-
dles that cater for Facebook,
WhatsApp and Twitter.
However, in all this there is still
some value that can be extracted
from Instagram by Zimbabwean
brands. A test on the Insta-
gram Ads feature shows that
up to 55,000 Zimbabweans can
be reached through an ad cam-
paign.
These numbers have been
enough to sway brands normally
active on social media like GTeL,
ZOL, Telecel, ZiFM Stereo as well
as personalities in the entertain-
ment and fashion like Tehn Dia-
mond, Jah Prayzah, Winky D and
Pokello who also command sig-
nificant followings.
Their accounts are a reflection
of how far a brand can express
itself visually through Instagram,
creating a level of character and
brand development that isn’t as
easily carried on Facebook or
Twitter.
As long as brands are consider-
ing extensive visual engagement
and looking for an avenue that
carries depth in the expression
of captivating moments that are
better viewed than read, then
putting effort and resources into
Instagram campaign is worth
exploring. - TechZim●
14 analysis14 analysis
Why Zimbabwean brands should explore the Instagram opportunity