🇿🇼ZimbabweSouthern Africa
Pfuma REIT declares maiden dividend, signals strong start on Victoria Falls Stock Exchange
via NewsDay Zimbabwe6 min read
Less than three months after its listing on the Victoria Falls Stock Exchange on February 6, the Pfuma Real Estate Investment Trust has declared a maiden dividend of US$446,719. This payout, covering the period from February 6 to March 31, translates to 0.0948 US cents per unit and signals early returns for investors and strong rental income performance. The dividend aligns with Pfuma's distribution policy, which mandates distributing at least 80% of net distributable income to unitholders, with the fund resolving to distribute 95% for the period. Launched by Arctic Blue Asset Management with an estimated initial asset value of US$23.74 million, the REIT's net asset value was recorded at US$46.87 million at the end of the review period, with net property income reaching US$316,582. The REIT's property portfolio includes Hogerty Hill Centre and Chegutu Retail Centre, with Cork Corner added upon listing. The fund expects to complete the acquisition of the Cork Road Quick Service and Casual Dining Centre in the second quarter of 2026 and has four pipeline projects planned for completion in 2026. Brokerage IH Securities noted favorable yields from the current properties, with Hogerty Hill at 6.6%, Chegutu at 10%, and Cork Corner at 7.8%, leading to an overall yield of about 7%.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Zimbabwe has experienced a notable increase in value-added exports, contributing to a reduction in the country's trade deficit. This positive economic indicator suggests a shift towards more sophisticated export products and improved trade balances. The development aligns with broader efforts to strengthen Zimbabwe's economic standing and foster sustainable growth through enhanced export performance.
Must ReadZimbabwe is currently experiencing a significant shortage of midwives, a situation that poses challenges to the country's healthcare system. This issue is highlighted amidst other national concerns, including economic developments, political tensions, and various sector-specific challenges. The shortage of midwives is a critical concern that impacts the provision of essential healthcare services.
Must ReadZimbabwe is experiencing a range of developments across various sectors. The nation is pursuing a US$650 million investment vision, reinforcing confidence in its long-term growth potential, and has initiated efforts for a US$25 million climate recovery boost. Value-added exports are surging, contributing to a narrowing trade deficit. In infrastructure, councillors are advocating for the immediate implementation of the Glassblock Dam project. The insurance industry is working to address a trust deficit, with Tsuro emphasizing that insurance relies on trust to honor future claims. FBC Holdings has achieved ISO/IEC 27001:2022 certification. In the mining sector, Rukweza has been appointed chair of the Lithium Association of Zimbabwe, highlighting the country's strategic focus on lithium. However, challenges persist, including critical shortages of midwives and power outages and raw material shortages impacting ART operations, leading to declines in export and paper division volumes. On the sporting front, over 300 girls are participating in women's football development, though Zimbabwe Cricket's developmental pathways face significant challenges. Political tensions are also noted, with violent attacks and forced evictions occurring at grasslands plots.