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ZSE Capitalization Surge As Investors Seek Refuge

Market capitalization on the Zimbabwe Stock Exchange (ZSE) grew 64 percent in just a little over a week to reach ZWL$ 67 billion as at close of trading yesterday on the back of investors continuing to seek shelter in the equities amid local currency depreciation, 263Chat Business can report. As at week ending 7 February […]

NetOne’s Launches Hourly Bundle Service

Mobile network operator, NetOne has introduced a new 1000 megabytes data and 25 short message service bundle valid for one hour in a move meant to ease the high cost of data for its customers. In a statement, the company said the bundle dubbed, “AmaSixty60 Bundle” is tailor-made for short time users of data such […]

Zim’ Subsidized Grain Smuggled To DRC

Shocking revelations of alleged smuggling of government’s subsidized grain into the Democratic Republic of Congo (DRC) by organized cartels in the local milling industry have emerged, 263Chat Business can reveal. The startling revelations came out of the Justice-Mayor Wadyajena chaired Parliamentary committee portfolio on Lands, Agriculture, Water, Climate and Rural Resettlement this morning where millers […]

STANBIC Shuts Down Chitungwiza, Beitbridge Branches

Stanbic Bank is set to close its Chitungwiza and Beitbridge branches with effect from 31 March 2020 as the institution ‘moves forward with its digitalization strategy which allows customers to conduct their banking any hour of the day from any connected location.’ According to the bank’s Chief Executive, Joshua Tapambgwa, the digitalization strategy which will […]

Guard Against Cyber-Attacks Banks Told

Reserve Bank of Zimbabwe Governor, John Mangudya has called on banking institutions to ensure that they have robust Information and Communication Technologies to curb cyber-attacks. Presenting the first half monetary statement in Harare yesterday, Mangudya said as financial systems now rely more on information technologies there are high chances of attacks therefore there is need […]

2020 Monetary Policy Statement: What We Learnt

  This morning the Reserve Bank of Zimbabwe (RBZ) governor, Dr John Mangudya presented the first half, 2020 Monetary Policy Statement (MPS) amid huge expectations for remedies to soothe the increasingly anxious financial market. However, as expected the governor presented much of what the Monetary Policy Committee (MPC) has already been pre-empting in its monthly […]

De-dollarization To Take Five Years

Zimbabwe needs at least five years to complete the de-dollarization process which started last year in June following the abolishment of the multi-currency system, Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya has said. De-dollarization is the transitional process from an American dollar denominated economy to a local currency denominated one which Zimbabwe is currently […]

Hippo Valley Resumes Trading On ZSE

Sugar producing company, Hippo Valley Estates Limited (Hippo) will today commence trading its shares on the local bourse, following a six month hiatus from the Zimbabwe Stock Exchange (ZSE) pending investigations of its parent company, Tongaat Hulett Limited (THL), 263Chat Business can report. Hippo was suspended from trading on the ZSE on August 21, 2019 […]

NetOne’s Valentine Romance With The Elderly

It was a love affair. The setting could not be more appropriate. It was a profound moment at Belgravia’s Pariah State-an upmarket eatery where telecommunications giant, NetOne set up a perfect luncheon date with the elderly this Valentine’s Day. For the old timers, this was a moment to recapture the youthfulness of their good ole […]

Willdale Sales Tumble As Construction Sector Chokes

Listed brick manufacturer, Willdale Limited endured a tough quarter ending 31 December 2019 with volume sales dropping 15 percent as demand for construction material weakened due to the hyperinflation. In its trading performance report for the highlighted period, the company said it was relying on funded government projects and cluster housing development to sustain operations […]