Old Mutual returns to Zimbabwe capital markets via VFEX after six-year suspension
via NewsDay Zimbabwe1 min read
Old Mutual has re-entered Zimbabwe's capital markets by listing on the Victoria Falls Stock Exchange VFEX following a six-year suspension. This move is part of a broader set of economic activities in Zimbabwe, which includes the Zimbabwe Mercantile Exchange ZMX seeing increased confidence with trades reaching US$1.28 million. Other business news indicates that 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. Additionally, US-based BlackRock has increased its interest in Caledonia Mining, notifying the company of crossing a reporting threshold.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Zimbabwe has commissioned a specialized honey testing laboratory to enhance its export competitiveness. In other news, Caledonia Mining received notification from BlackRock regarding an increased interest in the company. ART operations were impacted by power outages and raw material shortages, with exports and paper division volumes declining by 6% and 26% respectively in the third quarter to June 2022. The Bulawayo council warned of a 10-day water supply disruption, and the High Court blocked an illegal office park development in Borrowdale Estate. Harare reportedly lost over US$1 million in suspicious break-ins. Additionally, Zimbabwe plans to translocate zebras, giraffes, and hyenas to Equatorial Guinea.
Thousands of Japanese kei cars, including models like the Suzuki Wagon R and Nissan Dayz, are increasingly common in Zimbabwean cities such as Harare, Bulawayo, and Mutare. These ultra-compact vehicles, priced between US$6,500 and US$8,500, are favored by budget-conscious commuters, young families, and e-hailing drivers due to their exceptional fuel efficiency, often exceeding 20 kilometers per liter. For many, these cars offer an essential economic lifeline in a turbulent economy with fluctuating fuel prices. For example, one commuter noted a significant reduction in weekly fuel expenses after switching to a Suzuki Wagon R. However, a debate has emerged among motorists and road safety experts regarding the safety implications of these vehicles. Kei cars are designed under Japanese domestic regulations for low-speed urban commuting, featuring thin body panels, minimal crumple zones, and lightweight structural frames. Automotive safety analyst Michael Chideme warns that these vehicles offer little protection in collisions with larger vehicles on Zimbabwean highways, potentially leading to fatal outcomes. Older or base-model imports often lack modern safety features like Electronic Stability Control and advanced traction control, making them prone to rollovers due to their high center of gravity and short wheelbase. Opponents argue that spending an additional US$1,500 to US$2,000 for a sturdier used hatchback or sedan, such as a Toyota Vitz or Honda Fit, offers a safer investme
Zimbabwe is planning to translocate zebras, giraffes, and hyenas to Equatorial Guinea. In other news, fuel prices have marginally decreased, and Old Mutual is returning to Zimbabwe's capital markets via VFEX after a six-year suspension. Harare has reportedly lost over US$1 million in suspicious break-ins. ZMX is seeing rising confidence with trades reaching US$1.28 million. BlackRock, a US-based investment manager, has scaled up its interest in Caledonia Mining, notifying the company of crossing a reporting threshold. Political tensions at grasslands plots have led to violent attacks and forced evictions. Power outages and raw material shortages have impacted ART operations, with exports and paper divisions seeing volume declines of 6% and 26% respectively in the third quarter to June 2022. Zimbabwe has also commissioned a specialized honey testing laboratory to boost export competitiveness.