FINANCIAL SERVICES

RBZ third batch of TBs oversubscribed

THE Reserve Bank of Zimbabwe (RBZ) said on Friday it got offers four times more than the $100 million it sought to raise through treasury bills (TBs), signalling high investor appetite in the instrume...

By New Ziana | Published: 30 September 2019

MINING & RETAIL

Zimbabwe mining industry lags behind in technolo

YOUNG Miners Foundation (YMF) chief executive Payne Kupfukwa has lamented that the local mining industry was lagging behind in terms of technology, with firms using archaic and inefficient equipment.K...

By Staff reporter | Published: 30 September 2019

LANDS & AGRICULTURE

Tobacco seed sales decline 20%

TOBACCO seed sales have declined by 20%, with the volumes being the lowest since 2015, a development that could see reduced hectarage of the crop next season, a Zimbabwe Tobacco Association (ZTA) repo...

By Staff reporter | Published: 30 September 2019

MINING & RETAIL

Illegal mining threatens Blanket Mine operations

CALEDONIA Mining Corporation has bemoaned the rampant increase of illegal mining activities on properties controlled by its gold mining company, Blanket Mine in Gwanda.Blanket Mine has exploration tit...

By Staff reporter | Published: 30 September 2019

INDUSTRIALS & ENERGY

ZESA set to increase power exports to Namibia

State-run Zimbabwe Electricity Supply Authority (ZESA) senior officials are expected to meet with executives from Namibia's electricity company NamPower and finalise some on-going negotiations for the...

By Staff reporter | Published: 30 September 2019

MINING & RETAIL

Makomo Resources hit by forex shortages

COAL miner Makomo Resources is only getting about 50% of its foreign currency requirements for the importation of critical inputs like spares, a situation that has crippled its production, an official...

By Staff reporter | Published: 28 September 2019

FINANCIAL SERVICES

Inflation headache for NBS

THE National Building Society (NBS) says it has applied strict cost repression measures in order to contain the effects of inflation.Zimbabwe's inflation rate has been on the rise and quickened furthe...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Starafrica eyes 10% increase in exports

After concluding an agreement with ZETDC last month to ensure continuous power supply to the factory, Starafrica Corporation intends to recover 10% of production lost by accelerating export sales in t...

By Staff reporter | Published: 28 September 2019

INDUSTRIALS & ENERGY

Forex earnings boost Afsun H1 as group embarks on major soft refurbishments

Foreign currency earnings, which constituted 45% of revenue, helped African Sun post a 765% increase in the bottom-line for the half year to June 30.  This is in spite of a drop in occupancy leve...

By Staff reporter | Published: 28 September 2019

FINANCIAL SERVICES

GCR upgrades Zimnat General Insurance rating to A+

Global Credit Rating (GCR) has revised Zimnat General Insurance's national scale financial strength rating to A+(zw) Stable Outlook, from its previous rating of A-(zw).The financial strength rating (f...

By Staff reporter | Published: 27 September 2019

MINING & RETAIL

Caledonia eyes 75 000 ounces gold output

CALEDONIA Mining Corporation, which owns Blanket Mine in Matabeleland South province, targets to increase gold output to 75 000 ounces in 2021 as the mine has begun focusing on increasing output. &nbs...

By Staff reporter | Published: 27 September 2019

MINING & RETAIL

Zimbabwe to auction 500 000 carats

THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it will conduct another diamond auction before the end of the year targeting to sell between 400 000 and 500 000 carats. A fortnight ago, MMC...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

TelOne loses $500k to vandalism

TelOne lost about $500 000 over the weekend when small-scale miners vandalised network infrastructure while panning for gold in Mashonaland West Province. The $500 000 was lost in restoring services a...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

Xiaomi's new smartphone other smartphones look old-fashioned

Chinese tech giant Xiaomi just revealed on Tuesday a new 5G concept smartphone called the Mi Mix Alpha. It has a screen that wraps almost all the way around the phone, and it looks utterly incredible....

By Staff reporter | Published: 27 September 2019

FINANCIAL SERVICES

Old Mutual explains half-year cash outflows

Old Mutual Zimbabwe Group says it was not involved in buying foreign currency on the local foreign currency markets, in view of significant cash outflows that was notable during the half-year to June ...

By Staff reporter | Published: 27 September 2019

TRANSPORT & TOURISM

Zim tour operators accuse Botswana of unfair business practice

ZIMBABWE'S tour operators have alleged unfair business practices by their Botswana counterparts, whereby they bring their clients straight to the country instead of letting them do that on their behal...

By Staff reporter | Published: 27 September 2019

FINANCIAL SERVICES

Zimdollar plunges after weekend gains

The value of the Zimbabwe dollar yesterday plunged against the United States dollar after stabilising at the weekend following the Reserve Bank of Zimbabwe (RBZ)'s decision to freeze bank accounts of ...

By Staff reporter | Published: 27 September 2019

MINING & RETAIL

African Chrome fields shuts down, lays off 500

ONE of the country's largest ferrochrome producers, African Chrome fields (ACF), has shut down its mining operations in Kwekwe, laying off over 500 workers.The company is owned by South African busine...

By Staff reporter | Published: 27 September 2019

INDUSTRIALS & ENERGY

Zimbabwe to get 100 MW from Mozambique

MOZAMBIQUE'S Hidroelectrica de Cahora Bassa (HCB) will this week feed 100 megawatts into the country's power grid, a move likely to ease power shortages in Zimbabwe, Zim Morning Post reported.The late...

By Staff reporter | Published: 27 September 2019

MINING & RETAIL

Retailers shift blame on price increases

RETAILERS, who stand accused of profiteering, have attributed the relentless price increases to currency instability and the rising cost of doing business. In an interview, Confederation of Zimbabwe R...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

Axis Solutions introduces new fiscal device

LOCAL Information Communication and Technology (ICT) company, Axis Solutions, has introduced a new electronic fiscal device which is affordable and safe from power cuts called the RevMax.Zimbabwe has ...

By Staff reporter | Published: 27 September 2019

INDUSTRIALS & ENERGY

39 solar power projects get nod

The Zimbabwe Energy Regulatory Authority (Zera) has processed 39 solar power projects that have capacity to generate up 1 151,87MW, as the country moves towards renewable energy to contain shortages. ...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

Govt installs trackers on vehicles and Zupco buses

The Central Mechanical and Equipment Department (CMED) has set up a control room at its headquarters in the city to monitor the movement of all Government vehicles and collecting information on vehicl...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

Sasai promo launched

Cassava Smartech yesterday launched a $10 million chakachaya pasasai promotion that will be open for all active Sasai application users. The promotion which will run for over 10 weeks starting from to...

By Staff reporter | Published: 27 September 2019

TRANSPORT & TOURISM

Cable fault disrupts train movement

A FAULTY electricity cable that supplies power to the National Railways of Zimbabwe signals grid has disrupted local and regional train movement between South Africa and Zimbabwe through Beitbridge.So...

By Staff reporter | Published: 27 September 2019
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