馃嚳馃嚰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%.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
Zimbabwe is seeking US$9 billion for energy expansion, with new regulations expected to accelerate grid expansion, improve electricity access, and attract fresh capital into the energy sector. This comes as the country also faces climate and food security risks, leading to proposed new grain levies. Other developments include Zimbabwe's expansion of development finance options with BRICS New Development Bank membership, and the commissioning of a specialized honey testing laboratory to boost export competitiveness. Meanwhile, ART operations have been affected 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 Zimbabwe Property Excellence Awards highlighted government infrastructure projects and sports facilities. In sports news, the PSL postponed the Highlanders-Chicken Inn derby following the tragic death of Bosso officials and a supporter. Political tensions at grasslands plots have led to violent attacks and forced evictions.
Must ReadZimbabwe is broadening its development finance avenues by joining the BRICS New Development Bank. This move is expected to accelerate grid expansion, enhance electricity access, and attract new capital into the country's energy sector. Other news includes the postponement of a football derby due to a tragic accident, the suspension of top aides by Tsvangirai, and calls for stronger regional health partnerships. The country is also addressing climate and food security risks with proposed new grain levies and is seeking US$9 billion for energy expansion. Additionally, Zimbabwe has commissioned a specialized honey testing laboratory to boost export competitiveness.
Must ReadThe Zimbabwe Property Excellence Awards recently focused on government infrastructure projects and sports facilities. Other news from Zimbabwe includes China's commitment to supporting Vision 2030, Zimbabwe's expansion of development finance options with BRICS New Development Bank membership, and ARDA delivering 120,000MT as the country prepares for El Ni帽o. There are also proposals for new grain levies to address climate and food security risks, and a call to address the silent dementia crisis. ART operations have been affected by power outages and raw material shortages, with exports and paper divisions seeing volume declines of 6% and 26% respectively in the third quarter to June 2022. Additionally, Zimbabwe is seeking US$9bn for energy expansion and has commissioned a specialized honey testing laboratory to boost export competitiveness. Political tensions at grasslands plots have led to violent attacks and forced evictions.