CONSTRUCTION & PROPERTY

Sawanga Shopping Mall space uptake 95%

ZIMRE Property Investments (ZPI) says about 95 percent of space at its Sawanga Shopping Mall in Victoria Falls has been taken up due to the growing confidence in the upmarket project.ZPI completed the...

By Staff reporter | Published: 05 October 2019

INDUSTRIALS & ENERGY

Lafarge Zimbabwe defies economic challenges

ZIMBABWE Stock Exchange listed cement producer, Lafarge Zimbabwe Limited, swung to profitability in the six months to June this year against a loss in the prior comparative period thanks to good volum...

By Staff reporter | Published: 05 October 2019

FINANCIAL SERVICES

'Bureaus not allowed to transact with corporates'

Bureaux de Change are not allowed to transact with corporates or enter into twining arrangements with customers to prefund foreign currency purchases, according to a directive from the Reserve Bank of...

By Staff reporter | Published: 05 October 2019

FINANCIAL SERVICES

Morgan & Co launches research app

Morgan & Co, a securities firm yesterday launched a research app that offers interaction between the capital markets and investors.The Morgan & Co Research App is meant to simplify the investm...

By Staff reporter | Published: 05 October 2019

TELECOMS & TECHNOLOGY

Zimbabwean mobile operators enhance security at base stations

Zimbabwean operators have tightened security at their base stations amid rising numbers of cases of theft, vandalism, robberies and assaults on personnel at the sites, 263Chat reported. Mobile network...

By Staff reporter | Published: 04 October 2019

MINING & RETAIL

BNC disposes majority stake

AN unnamed local investor has snapped up majority shareholding amounting to 74,73 percent at Bindura Nickel Corporation (BNC) through a sale and purchase agreement. BNC company secretary, Mr Muchadeyi...

By Staff reporter | Published: 04 October 2019

FINANCIAL SERVICES

RBZ floats $300m additional TBs

THE Reserve Bank of Zimbabwe (RBZ) yesterday returned to the market with a fourth batch of treasury bills (TBs), this time seeking to raise ZWL$300 million to finance Government programmes. The latest...

By Staff reporter | Published: 04 October 2019

LANDS & AGRICULTURE

Cassava launches Vaya tractor services

Zimbabwe Stock Exchange-listed entity Cassava Smartech has once again, in its series of platforms, launched the Vaya tractor services to add to its Eco-farmer portfolio. The service was officially lau...

By Staff reporter | Published: 04 October 2019

INDUSTRIALS & ENERGY

Another Zesa tariff hike looms

THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has applied to the Zimbabwe Energy Regulatory Authority (Zera) seeking another adjustment of electricity tariffs, saying the curr...

By Staff reporter | Published: 04 October 2019

INDUSTRIALS & ENERGY

Petrotrade declares $1.5 million dividend

Government-owned oil company, Petrotrade declared a $1.56 million dividend at the end of its 2018 financial year after managing to improve its profitability during the period, the company said on Thur...

By New Ziana | Published: 04 October 2019

TRANSPORT & TOURISM

Unifreight slams brakes on foreign borrowings

TRANSPORT and Logistics concern, Unifreight Africa Limited's chairman Peter Annesley says the company is going to limit foreign borrowings to minimise offshore liabilities in light of the exchange rat...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

11 500MW required to power Zimbabwe's Vision 2030

GOVERNMENT has called on the private sector to come on board and help increase investment in the energy sector to buttress attainment of an upper middle-income economy by 2030, which will require abou...

By Staff reporter | Published: 04 October 2019

FINANCIAL SERVICES

Zimbabwe's interbank market needs refinement

Local Industries claim they are yet to realise the benefits of the recently introduced interbank foreign currency market, as they continue to struggle accessing hard currency. The interbank market was...

By Staff reporter | Published: 04 October 2019

FINANCIAL SERVICES

Zimnat gets RBZ nod for offshore investment

INSURER, Zimnat, says it has received exchange control permission to invest policyholder's funds contributed in foreign currency in offshore financial markets. The exchange control approval relates to...

By Staff reporter | Published: 04 October 2019

FINANCIAL SERVICES

IPEC sets terms on forex denominated insurance policies

The Insurance and Pensions  Commission (IPEC) made a statement on the forward going policy for foreign currency dominated insurance policies. The development comes in the midst of a growing confi...

By Staff reporter | Published: 02 October 2019

LANDS & AGRICULTURE

Zimbabwe milk output increases to 52.51 mln litres in 8 months to August

Zimbabwe's raw milk production in the first 8 months to August rose 10% to 52.51 million litres from 47.84 million litres recorded in the same period last year. However, the output is still 56% below ...

By Staff reporter | Published: 02 October 2019

MINING & RETAIL

Eureka Gold Mine targets re-opening by April 2021

Gold production at Eureka Mine in Guruve is expected to resume within the next 18 months with refurbishment and rehabilitation work progressing well.At its peak , Eureka Gold Mine was the country's pr...

By Staff reporter | Published: 02 October 2019

INDUSTRIALS & ENERGY

Silo Foods increases grain producer price to RTGS$4 000 per tonne

Silo Foods Industries is now buying maize and small grain from farmers at RTGS$4 000 per tonne, representing a 90.47% increase from RTGS$2 100 being offered by its parent Grain Marketing Board (GMB).&...

By Staff reporter | Published: 02 October 2019

INDUSTRIALS & ENERGY

Power supply to improve long-term

Government is working on various policies to ensure sustainable electricity supply in the long-term after securing a deal from Mozambique's Hydroelectrica de Cahora Bassa (HCB) of Mozambique for the s...

By Staff reporter | Published: 01 October 2019

MINING & RETAIL

Makomo output drops 27%

COAL miner, Makomo Resources, has reported a 27 percent drop in production for the first nine months of 2019, attributed to procurement gaps as a result of a shortage of foreign currency. The Hwange-b...

By Staff reporter | Published: 01 October 2019

MINING & RETAIL

TV Sales & Home in major synergistic investments

FURNITURE and electrical appliances retailer, TV Sales & Home, has acquired a 49 percent stake in bed maker, Restapedic, and separately established a joint venture lounge suite manufacturing compa...

By New Ziana | Published: 01 October 2019

FINANCIAL SERVICES

CBZ posts 300% jump in net profit

ZIMBABWE'S largest financial services group CBZ Holdings Limited recorded a 301% increase in profit-after-tax to ZWL$137,4 million in the six months ended June 30, 2019 from a comparative 2018 of ZWL$...

By Staff reporter | Published: 01 October 2019

FINANCIAL SERVICES

ABC feels heat of currency volatility

FINANCIAL Services giant ABC Holdings Limited has conceded that currency reforms are yet to yield results as the country continues to witness heavy devaluation of the local currency and hyperinflation...

By Staff reporter | Published: 01 October 2019

MINING & RETAIL

Caledonia still to use $4m overdraft facility

CALEDONIA Mining Corporation (Caledonia) says its unsecured $4 million overdraft facility in Zimbabwe has remained undrawn."The company currently has no plans to raise equity. Blanket has an unsecured...

By Staff reporter | Published: 01 October 2019

TELECOMS & TECHNOLOGY

Strive Masiyiwa lashes RBZ

Ministers have recently issued threats against Econet's mobile money service, EcoCash, whose agents are accused of charging desperate Zimbabweans looking for cash a massive premium of up to 60 percent...

By Staff reporter | Published: 30 September 2019
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