Econet Wireless reported a threefold increase in after tax profit to $48.9 million in the six months to August from $14.97 million recorded in the same period last year on increased revenue coupled with a marked decline in finance cost.
Colcom shareholders have accepted Innscor’s offer to acquire minorities shares in Zimbabwe’s largest meat processor in exchange for Innscor shares.
Movement for Democratic Change legislator Eddie Cross says countries in Africa that are under the control of the new elite, the post independence generation, are making huge strides while those under the control of the “veterans of the long march” like Zimbabwe and South Africa are going backwards.
The Zimbabwe Stock Exchange Industrial Index opened the week higher after adding 0.21 percent to close at 515.36 points today.
Regional cement maker Pretoria Portland Cement (PPC) says it has received an offer from a global building materials and solutions company, LarfargeHolcim, challenging an earlier offer from Fairfax.
Zimbabwe which is registering voters under the biometric system for next year’s elections but has so far received a slow response with just over a million voters registering so far has decided to offer 300 tonnes of rice to districts that will register the highest numbers.
Zimbabwe is among the 10 sub-Saharan Africa economies which have deteriorated significantly despite a positive outlook for the region, the International Monetary Fund (IMF) said today.