EQUITY AXIS

This week's issue of The Axis Top story : The New Banking Divide, Technology Reshapes Africa’s Financial Hierarchy *️⃣Unpacking Zimbabwe’s National AI Strategy *️⃣Invictus Faces Funding Reality *️⃣Illicit Cigarettes Redefine Market Dynamics *️⃣ZSE Venture Board Links Minerals to Capital

Business News Highlights 20.03.26 *️⃣ @CTCZimbabwe Eyes @CimasHealth Over Alleged #Market #Distortion *️⃣ #Govt Transfers #Zisco to #Mutapa Fund *️⃣ #Foschini #Africa Drives Sales Surge Amid #Global Weakness *️⃣ #Izwe #Zambia Profits Rise 12% on Loan Growth, Cash Surge

Strategic investments in new #bakery #production lines and a #distribution center in #Harare are helping the company maintain steady output. equityaxis.net/post/18931/202…

National Foods Posts Stable Performance, Flags Challenging Environment. @NAT_FOODS reports stable volumes for the six months ending December 2025, showing resilience amid rising costs and economic challenges.

The move aligns #ZISCO with @Kuvimba_Mining Mining House under MIF, aiming to leverage mining revenues and centralised governance to restart operations after nearly two decades of dormancy. Despite renewed structure, success hinges on execution securing capital, stable power supply, modernisation, and overcoming longstanding governance and funding constraints. equityaxis.net/post/18930/202…

ZISCO Steel’s residue placed Under Mutapa Investment Fund. Government has transferred ZISCO Steel to the Mutapa Investment Fund (MIF) under Statutory Instrument 58 of 2026, consolidating oversight under a single state investment vehicle to revive the collapsed steelmaker.

@Eskom_SA 's recovery and the shift back to fossil fuels contribute to #Salungano’s operational success, as the company benefits from increased #coal output and better grid stability. The company’s Q4 2025 performance highlights its vital role in #SouthAfrica’s energy revival, positioning Salungano as a key player in the country’s coal-driven energy strategy. equityaxis.net/post/18929/202…

Eskom's Coal Partner Rides High on Power Grid Recovery, Posts Strong Earnings. Salungano Group posts impressive earnings growth, with headline earnings per share turning positive, fueled by strong coal demand from Eskom.

The gold sector faces a complex policy environment, with a 10% royalty on large-scale miners, 10% ZiG payment requirement for ASSM, and a 30% ZiG surrender requirement. equityaxis.net/post/18928/202…

Zimbabwe's gold output in Jan-Feb 2026 reached 6.46 tonnes, a 12.7% increase from 5.73 tonnes in 2025, marking the highest Jan-Feb production on record. The country targets 50 tonnes of gold production in 2026, up from 46.7 tonnes in 2025, driven by artisanal and small-scale miners (ASSM) and large-scale operations.

The investigation centres on claims that Cimas is steering members toward its own clinics and pharmacies, raising concerns about abuse of dominance in a vertically integrated healthcare mode. equityaxis.net/post/18927/202…

Zimbabwe’s Competition and Tariff Commission has launched a formal probe into Cimas over allegations it is excluding an independent pharmacy (Harvey Brown) from its direct-payment system, potentially restricting competition. @CTCZimbabwe @CimasHealth

AI-driven analysis uncovers copper-silver-nickel-cobalt anomalies and a 20 km MVT lead-zinc corridor. The growing demand for copper driven by green energy and EVs positions Botswana as a competitive mining destination. equityaxis.net/post/18926/202…

Botswana Minerals Identifies Key Copper and Lead-Zinc Targets in North-West Botswana. #Botswana #Minerals identifies significant #copper and lead-zinc targets in north-west Botswana, with potential for diverse mineralisation.

The company has strengthened its balance sheet, with total equity up 27% to ZMW692.8 million and a Capital Adequacy Ratio above the 15% regulatory minimum. equityaxis.net/post/18925/202…

Izwe Loans Zambia Caps Multi-Year Transformation with Profit Growth, Cash Flow Turnaround. Izwe Loans Zambia Plc has completed its transformation into a diversified, digital-first financial services provider, with profit after tax rising 12% to ZMW195.4 million in 2025.

Foschini London shows strong growth, but TFG Australia faces challenges with flat sales and regional pressures. Geopolitical risks and rising input costs pose challenges, but TFG’s cost discipline and operational efficiency remain key to navigating uncertainty. equityaxis.net/post/18924/202…

Foschini Reports Mixed Performance as Geopolitical Risks Weigh on International Operations. #Foschini posts strong 7.6% sales growth, driven by value-added revenues, despite rising input costs.

The sudden adjustment, which came quickly after the geopolitical turmoil triggered by the Iran conflict, underscores the instability that results from the short-term assumptions built into Zimbabwe’s economic framework. equityaxis.net/post/18922/202…

Fuel Price Developments in Zimbabwe Exposes A System in Crisis. The recent fuel price hikes in Zimbabwe are a clear reflection of the country’s fragile fiscal and monetary systems.

Subtle pressure on Harare’s policy approach: While diplomatic in tone, the notice sends a clear message that abrupt and retroactive policies could deter the very investment needed to achieve beneficiation goals. equityaxis.net/post/18921/202…

Chinese capital is being guided to apply higher risk premiums, stricter investment thresholds, and contingency planning potentially slowing or deferring new lithium investments.

China responds to Zimbabwe lithium ban, What the Response Means? #China signals rising sovereign risk in #Zimbabwe: The embassy’s advisory explicitly warns Chinese firms to anticipate policy shocks, effectively classifying Zimbabwe as a high-volatility #investment environment.