AfricanFinancials Digital Team

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So far AfricanFinancials Digital Team has created 308 blog entries.

January 2020

Econet Wireless Trading Update for the 9 months to Nov 2019

2020-01-16T11:27:40+02:00January 16th, 2020|

ECONOMIC ENVIRONMENT During the period under review, the country’s macro-economic fundamentals continued to deteriorate characterised by low industry output, high unemployment, a rapidly weakening local currency and the re-emergence of hyperinflation. TARIFFS Although tariff increases were approved by POTRAZ in August and October 2019, our tariffs continue to lag behind inflation and given the rapid [...]

Cassava Smartech Trading Update for the 9 months to Nov 2019

2020-01-16T10:45:11+02:00January 16th, 2020|

The Company is pleased to present its trading update for the nine months and third quarter ended 30 November 2019. Trading Environment The macroeconomic environment over the nine months under review has continued to be operationally challenging, characterised by subdued consumer demand as a result of the continued depreciation of the Zimbabwe Dollar, a reemergence [...]

ZAMBEEF | Results of Annual General Meeting & Extraordinary General Meeting and Board changes

2020-01-08T14:57:26+02:00January 6th, 2020|

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business, with operations in Zambia, Nigeria and Ghana, announces that at the Company’s Annual General Meeting, held in Lusaka today, all resolutions put to shareholders were duly passed. Zambeef is further pleased to announce that all resolutions put to Shareholders at the Extraordinary General [...]

December 2019

Cassava Smartech Unaudited Abridged results for the half year ended 31 Aug 2019

2019-12-30T11:25:18+02:00December 30th, 2019|

CHAIRPERSON’S STATEMENT Financial highlights Unaudited 31 Aug 2019 Revenue ZW$ 946 million EBITDA ZW$ 28 million Mobile Money Subscribers 10.6 million EcoSure Insured Lives 2.8 million Moovah Active Policies (Short Term Insurance Business) 47 922 Steward Bank Customers 1.9 million Introduction Cassava Smartech Zimbabwe Limited (“The Group”) continues to proliferate its development of innovative digital [...]

Econet Wireless Unaudited Abridged Consolidated Financial Results HY 31 Aug 2019

2019-12-30T10:02:42+02:00December 30th, 2019|

INTRODUCTION Econet Wireless Zimbabwe (“the Company / Group”) remains the leader in the telecommunications sector commanding a customer market share of close to 70%. Our leadership position has been attained and maintained through an understanding of customer needs and continued provision of telecommunications services at a quality level that is unmatched by the competition. Not [...] | Unaudited Abridged Financial Results for the 6 months ended 30 Sep. 2019

2019-12-27T10:36:06+02:00December 27th, 2019|

CHAIRMAN'S STATEMENT OVERVIEW The trading environment became progressively more unstable towards the end of the six months to 30 September 2019. The country reintroduced the Zimbabwe Dollar (ZWL $) as the sole currency at the end of June 2019 and discontinued the use of multi-currencies in local transactions and settlement. The ZWL $ has depreciated [...]

TNM | Declaration of 2019 second interim dividend

2020-01-03T06:52:14+02:00December 24th, 2019|

At the Company's 90th Board of Directors' Meeting held on Thursday 12th December 2019 the following resolution was adopted:- That Second Interim Dividend for 2019 of MK 2,510 Million representing 25 Tambala per share in respect of the financial year ending 31st December 2019 has been declared by the Directors. The Dividend will be payable [...]

ZAMBEEF | FY2019 Results Presentation

2020-01-08T14:48:59+02:00December 12th, 2019|

Outlook & Strategic focus Macro-Economic factors Zambia’s GDP is forecast to grow by 3% in 2020 (Target 2% end 2019) Electricity constraints - Supply (Hydro-electricity reliance, Regional drought) - Tariff increase to cost-reflective rates expected Zambian Kwacha further sharp depreciation - BOP - External debt Escalation in interest and inflation rates Climate Average summer rainfall [...]