🇿🇼ZimbabweSouthern Africa
Delta Corporation reports strong half-year results amid economic headwinds
via NewsDay Zimbabwe1 min read
Delta Corporation, Zimbabwe's most valuable listed firm with a market capitalisation of US$1.43 billion, announced strong half-year results. Despite this performance, the company is facing headwinds. Separately, ART operations were impacted by power outages and raw material shortages, leading to a 6% decline in exports and a 26% decline in paper division volumes in the third quarter to June 2022. Other news includes the appointment of Madziva as CEO at Ariston, and nurses announcing a three-day protest.
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President Emmerson Mnangagwa has presented recently retired Chief Justice Luke Malaba with an agricultural mechanisation package, less than a month after Malaba left office. Malaba, who retired on May 14 after reaching the mandatory retirement age, was received at State House on Friday. The package included a tractor, Nissan UD truck, boom sprayer, and planter. Mnangagwa stated on social media that the package was in recognition of Malaba’s decades of service to the judiciary, citing his outstanding service, unwavering commitment, and exemplary legal leadership. Malaba's tenure was marked by controversy, particularly following his 2021 term extension under Constitutional Amendment No. 2, which allowed judges to remain in office for up to five additional years beyond the previous retirement age of 70, subject to medical fitness and presidential approval. This amendment was introduced as Malaba approached retirement, leading to legal challenges from critics who argued it undermined judicial independence. The Constitutional Court ultimately upheld the amendment, allowing Malaba to remain in office until his retirement this year. During his time as Chief Justice, Malaba presided over several politically significant cases, including election disputes and constitutional matters. His retirement paved the way for Chief Justice Paddington Garwe to assume the country’s highest judicial office. This presentation of farming equipment represents one of the most substantial public rewards
Harare is set to host the CAVB Zone VI Senior Nations Championship Qualifiers from June 7 to 14 at Sunrise Sports Club, as Zimbabwe, Malawi, Namibia, and Zambia compete for regional supremacy and a step towards the Los Angeles 2028 Olympic Games. Zimbabwe Volleyball Association secretary-general Priestledge Nhamburo stated that preparations are in their final phase, with national teams, known as The Eagles, transitioning from physical conditioning to tactical drilling. Nhamburo acknowledged that a recent Battle of the Zambezi tournament in Zambia, where Zimbabwe faced some of the upcoming opponents, helped identify and address tactical gaps. He emphasized that the "razor-thin" gap in Zone VI means execution under pressure will be key. Nhamburo also embraced the pressure of hosting an Olympic qualification pathway event, inviting the volleyball community and the nation to support the teams and help make history on home soil.
Air Zimbabwe is reportedly looking to revive its London route through a partnership with a Spanish carrier. However, questions have been raised regarding the suitability and details of the proposed partner airline. This development comes as the Zimbabwe Stock Exchange ZSE has received approval to launch an SME-focused exchange, which will operate through two market segments: ZEEX Private Markets and ZEEX Public Markets. Meanwhile, ART operations have been affected by power outages and raw material shortages, leading to a decline in export and paper division volumes by 6% and 26% respectively in the third quarter to June 2022.