Regional cement maker Pretoria Portland Cement (PPC) says the partial offer by Fairfax Africa Investments Proprietary Limited to acquire R2 billion of the company’s issued ordinary shares at an offer price of R5.75 per share undervalues the company and is evaluating two other bids to maximise shareholders value.
Fixed telecom operator, TelOne, has applied for a licence to set up a Video On Demand (VOD) Service in the country as it seeks to transform its business model to a converged information and communications technology firm.
The Environmental Management Agency (EMA) says it has so far confiscated 58.5 million products made of Expanded Polystyrene Foam (EPS),commonly known as kaylite, worth an estimated $2.8 million, as it moves to implement a government directive banning the product.
The Grain Millers Association of Zimbabwe (GMAZ), which represents the country’s major milling companies, is struggling to pay off $88 million in outstanding invoices for wheat and maize imports since August last year.
Zimbabwe’s stock exchange market capitalization yesterday peaked at $8.9 billion, the highest since dollarisation, as the bourse continues on a bull run which has seen it reach record levels.
Britain gave Zimbabwe an additional US$8 million in aid following Prime Minister Morgan Tsvangirai’s visit to that country to support the Movement for Democratic Change and give the MDC wins to take credit for, but British Prime Minister Gordon Brown made it clear to his ministers that additional support would not be released until there was more progress on genuine reform on the ground.