Chairman’s statement Introduction This year marks a significant milestone in our journey as we commemorate our 25th anniversary. As we celebrate this milestone, we reflect on how resilient and agile our business has been, evolving from a mobile voice telephony operator to becoming a digital service provider (DSP) that touches the lives of all Zimbabweans. [...]
The Directors would like to advise shareholders and the public that the Company has commenced negotiations for the disposal of certain immovable assets. The transaction, if successful, could have a material effect on the business and the share price. Shareholders and the public are therefore advised to exercise caution and to seek professional advice when [...]
Innscor Africa Limited (INN.vx) 2023 Annual Report Chairman’s Statement and Review of Operations Directors’ Responsibility The Holding Company’s Directors are responsible for the preparation and fair presentation of the Group’s audited annual financial statements. These audited Group annual financial statements are presented in accordance with the disclosure requirements of the Victoria Falls Stock Exchange [...]
National Foods hereby issues the following trading update for the quarter ended 30th September 2023. Economic Environment and Trading Performance 1. The economic environment was relatively stable in the quarter, with a reduction in inflation following various measures implemented by the authorities. 2. The recent announcement regarding the continued use of the multi-currency environment until [...]
Trading Environment Trading for the most part of the quarter was satisfactory as the operating environment was relatively stable. The policy interventions implemented by authorities in June 2023 resulted in increased use of foreign currency for domestic transactions, tight local currency liquidity and a more stable exchange rate. The Group has continued to participate on [...]
OPERATING ENVIRONMENT The operating environment was stable during Q3 2023 following policy intervention measures instituted by the Government to tackle price and exchange rate volatility. The measures resulted in stable market conditions though the gap between the official and parallel rates is now increasing. The Bank Policy rate stood at 150% as of September 2023 [...]
Axia Corporation Limited (AXIA.vx) 2023 Annual Report CHAIRMAN’S STATEMENT AND REVIEW OF OPERATIONS CHANGE IN FUNCTIONAL AND PRESENTATION CURRENCY The Group had a steady increase in the use of foreign currency across its businesses and reassessed its functional currency in accordance with the requirements of IAS 21. The Group concluded that based on the [...]
Conference call transcript 30 October 2023 H1 2024 RESULTS Operator Good day, ladies and gentlemen, and welcome to the Airtel Africa half year results. All participants will be in listen only mode. There will be an opportunity to ask questions later during the conference. If you should need assistance during the call, please signal an [...]
The shareholders of Copperbelt Energy Corporation PLC (“CEC”) are referred to the cautionary announcement, dated 9th June 2020 and the subsequent announcements wherein the Company advised of an arbitration action under the UNCITRAL Arbitration Rules 1976 (the “UNCITRAL Rules”) taken by CEC against Konkola Copper Mines PLC (“KCM”) relating to a dispute out of the Power Supply Agreement (“PSA”) for the recovery of the debt owed by KCM to CEC in unpaid invoices for the supply of power (the “Arbitration”).
Operating Environment and Business Performance The first half of our current Financial Year (F24) has been characterised by an acute period of hyperinflation that was largely driven by exchange rate depreciation. WBWS +10% Instore Rate 01/04/2023: ZWL$1025 WBWS +10% Instore Rate 30/09/2023: ZWL$6013 The formal retail channel experienced very weak consumer demand during the first [...]