Zim News Blog -NEWS NETWORK

HARARE – President Emmerson Mnangagwa has summoned Parliament to convene on Tuesday, June 30, a week ahead of its scheduled sitting, to consider and approve amendments made by the Senate to Constitutional Amendment Bill No. 3.

The Senate has already passed the Constitutional Amendment Bill after introducing several amendments. Before the legislation can be presented to President Mnangagwa for assent and become law, the National Assembly must endorse the Senate’s changes.

One of the key amendments addresses a constitutional procedural gap created by the proposed new presidential succession framework. Under the current Constitution, the President is sworn into office following a general election and subsequently summons Parliament for its first sitting. However, under the proposed constitutional arrangement, Parliament would elect the President, creating a situation in which there would be no sitting President to convene Parliament’s inaugural session.

To resolve this anomaly, the Senate has amended the Bill to empower the Clerk of Parliament to summon the first sitting of Parliament following a general election, ensuring the presidential election process can proceed without constitutional uncertainty.

The Senate also revised provisions governing the assumption of office by an interim President. The amended clause stipulates that the Vice-President who most recently exercised the functions of President will serve as Acting President until Parliament elects a substantive President.

In addition, the amendments introduce a mandatory 14-day timeframe within which Parliament must hold its first sitting after a general election, providing greater certainty and predictability to the transition process.

The special parliamentary sitting is expected to conclude the legislative process for Constitutional Amendment Bill No. 3 before it is transmitted to the President for final assent.

The post Mnangagwa Calls Special Parliamentary Sitting on Constitutional Amendment Bill appeared first on The Zimbabwe Mail.

HARARE – Zimbabwe Stock Exchange-listed diversified manufacturer ART Holdings posted a solid financial performance for the six months ended March 31, 2026, recording a 6% increase in revenue as improving sales volumes, stronger pricing discipline and operational efficiencies offset challenging trading conditions.

The group reported revenue of US$14.3 million, up from US$13.5 million in the corresponding period last year, while total sales volumes increased by 5% year-on-year, reflecting improved demand across several of its core business divisions.

The company’s gross profit margin strengthened to 35%, underlining the impact of cost containment measures, operational improvements and disciplined pricing strategies implemented during the period.

The performance signals continued recovery for the diversified industrial group despite an operating environment characterised by constrained liquidity, subdued consumer spending and intermittent power supply disruptions.

Batteries Zimbabwe Returns to Profitability

One of the strongest contributors to the group’s improved performance was Batteries Zimbabwe, which returned to profitability during the second quarter after recording stronger domestic and export sales.

Local battery sales volumes increased by 3%, while export volumes rose by 10% compared to the same period last year, reflecting improving regional demand for energy storage products.

However, management acknowledged that the division’s overall performance remained below expectations due to persistent working capital constraints and production interruptions that affected manufacturing output.

Despite these challenges, ART Holdings expressed confidence that the batteries business is well positioned to benefit from growing demand for energy storage solutions across Southern Africa.

The company is also making progress in resolving production bottlenecks affecting its maintenance-free and industrial battery product lines, developments expected to support stronger earnings during the second half of the financial year.

The improving outlook comes as demand for reliable backup power systems continues to grow across the region amid increased investment in renewable energy and persistent electricity supply challenges.

Eversharp Delivers Volume Growth Despite Competitive Pressures

The group’s stationery division, Eversharp, also recorded improved trading performance during the reporting period, despite operating in an increasingly competitive market.

Sales volumes increased by 13% year-on-year, supported by better pricing strategies and sustained customer acceptance of the company’s product portfolio, including its EV10 pen range.

Management noted that the business continued to face headwinds from the influx of imported and counterfeit products, weak consumer spending and recurring electricity disruptions that affected production efficiency.

Nevertheless, the division maintained positive momentum through tighter cost management and continued product innovation.

Mutare Estates Drives Cash Generation

Mutare Estates remained ART Holdings’ strongest-performing business and the group’s principal cash generator during the reporting period.

The timber business recorded a 31% increase in sales volumes, supported by robust demand for structural timber and related products.

The division also benefited from improved milling efficiencies, operational optimisation and disciplined pricing, enabling it to sustain strong profitability despite broader economic challenges.

The continued expansion of construction activity and infrastructure projects has helped underpin demand for timber products, positioning the division for further growth.

Stronger Financial Position

Commenting on the results, Acting Chairman Mike Oakley said management remained satisfied with strategic decisions taken during the reporting period to strengthen the company’s balance sheet.

“While the disposal was dilutive to reported earnings in the short term, management is satisfied that the transaction strengthens the Group’s financial position,” Oakley said in the statement accompanying the half-year financial results.

The company believes the stronger balance sheet will improve financial flexibility and support future investment in production capacity and operational improvements.

Outlook

Looking ahead, ART Holdings expects improved performance during the remainder of the financial year as production constraints ease and regional demand for batteries continues to strengthen.

Management is also banking on operational improvements across its manufacturing businesses, continued cost optimisation and sustained demand for timber products to drive earnings growth.

Although macroeconomic headwinds, including constrained working capital, electricity supply challenges and competitive import pressures, remain risks, the group’s diversified business model and improving operational performance provide a solid foundation for continued recovery.

The latest results suggest ART Holdings is gradually rebuilding profitability through operational efficiency, stronger pricing discipline and focused investment in its core manufacturing businesses, positioning the company to capitalise on recovering industrial activity and growing regional demand.

The post ART Holdings Returns to Growth as Revenue Climbs 6% on Stronger Battery and Timber Sales appeared first on The Zimbabwe Mail.

Thousands of miles from the bustling markets of Mbare or the quiet suburbs of Bulawayo, a silent and gruesome tragedy is unfolding in the frozen trenches of Eastern Europe. While the global community remains transfixed by the high-stakes geopolitical maneuvering between the Kremlin and the West, young Zimbabwean men are being ground into the mud […]

The post Dying for a Russian War: The Tragic Truth About Zimbabweans Fighting on the Frontlines in Ukraine first appeared on My Zimbabwe News.

HARARE – In the corridors of power at State House in Harare, a profound silence has taken root—a silence that stands in stark contrast to the boisterous chants of “2030 ndizvo” (2030 is the goal) echoing from ZANU-PF rallies across the country. At the centre of this political storm is President Emmerson Mnangagwa, a man […]

The post The ‘Voice of God’ and the CAB 3 Referendum: President Mnangagwa in Dilemma first appeared on My Zimbabwe News.

Betrayal or Blackmail? The Incest Allegation Tearing a Matabeleland Family Apart In the quiet stretches of Matabeleland South, where traditional values and family ties are the bedrock of the community, a scandal has emerged that threatens to shatter the very foundations of a local household. At the heart of this unfolding drama is a web […]

The post Shocking incest saga rock Matabeleland family: Marriage collapses as wife enjoys lula lula with her uncle first appeared on My Zimbabwe News.