INDUSTRIALS & ENERGY

Mutoko Independent Power Producer pumps 2.5 megawatts into national grid

MUTOKO community is experiencing less hours of load shedding after a local Independent Power Producer, Nyangani Renewable Energy (NRE) started pumping its solar power into the national grid.NRE is the...

Old Mutual to manage capital from Zimbabwe business on ring fence basis

Old Mutual Limited (OML) says capital raised through repatriation of dividends from its Zimbabwe business will be managed on a ring-fenced basis. This came at a time when the local economy is bleeding...

LANDS & AGRICULTURE

Zimbabwe has potential to irrigate 2 million hectares: Shiri

Zimbabwe's land under irrigation has increased by 61.76% to the current 275 000 hectares from 170 000 hectares, with the country intensifying efforts to reduce reliance on rain-fed agriculture so as t...

MINING & RETAIL

Falgold ceases gold production

Troubled mining group Falgold Zimbabwe published its delayed financial statements for the year ended 31 September 2018. During this period the group's net loss after tax widened by 609% to US$4.9 mill...

TELECOMS & TECHNOLOGY

Telecoms firms in revenue decline

ZIMBABWE's telecoms sector has suffered a $37,1 million decline in revenue for the first time ever in the past four years.The latest Postal and Telecommunications Regulatory Authority of Zimbabwe (Pot...

MINING & RETAIL

Zimbabwe scraps 15% tax on raw platinum exports

Zimbabwe's platinum mining companies have come up with a roadmap for refinery plants that have seen the government considering the removal of a 15 percent tax on raw exports for the commodity.While co...

TELECOMS & TECHNOLOGY

Govt to cede TelOne, NetOne majority shares by year-end

GOVERNMENT is moving to complete the sale of its majority shareholding in fixed telecommunications company TelOne and mobile operator NetOne by year-end, businessdigest has learnt.There has been an in...

MINING & RETAIL

Zimbabwe poised for gold boom

Zimbabwe is poised for a boom in gold production after Government announced that it will henceforth enforce a clause of the Mines and Minerals Act that gives the state the powers to forfeit mining tit...

TRANSPORT & TOURISM

Zimbabwe goes overdrive to lure diasporans

Tourism minister Priscah Mupfumira is in the United Kingdom for Zimbabwe's roadshow aimed at increasing engagement with citizens domiciled in Europe to encourage them to come and invest back in the co...

TRANSPORT & TOURISM

Power cut claims at JM Nkomo airport dismissed

The Civil Aviation Authority of Zimbabwe (Caaz) has dismissed claims that a fastjet aircraft failed to land at Joshua Mqabuko Nyongolo Nkomo International Airport in Bulawayo on Wednesday evening due ...

TELECOMS & TECHNOLOGY

Zimbabwe mobile subscribers decline

ZIMBABWE's active  mobile subscribers declined by six percent during the first quarter of 2019 due to lower aggregate demand in the economy, latest industry report has shown. According to the Pos...

INDUSTRIALS & ENERGY

Power blackouts shatter Bulawayo firms

POWER outages are wrecking Bulawayo's businesses, amid fears that the debilitating electricity cuts may force the closure of some firms, captains of commerce and industry have warned.This comes as Zim...

TRANSPORT & TOURISM

Air Zimbabwe, South Jet fight over planes

TROUBLED Air Zimbabwe is involved in a tug of war with Isle of Man company South Jet One Ltd over the ownership of two Airbus A320 aircrafts which the state entity claims it was given as a donation in...

CONSTRUCTION & PROPERTY

Govt speeds up Chirundu-Beitbridge road rehabilitation

Government has engaged four more contractors to speed up road rehabilitation works of the Harare-Beitbridge Highway.Since the ground-breaking ceremony held in Beatrice a few months ago, progress has b...

INDUSTRIALS & ENERGY

Zesa throws RBZ under the bus

ZIMBABWE'S power utility, Zesa Holdings says the Reserve Bank of Zimbabwe (RBZ) has not provided with foreign currency to import power since last October.This comes as the southern African country is ...

INDUSTRIALS & ENERGY

Zimbabwe bakers urged to stop baking biscuits, confectioneries

The Grain Millers Association of Zimbabwe (GMAZ) says the country's flour stocks have improved, but has warned bakers not to "waste" supplies on confectionary and biscuits because the situation was st...

TRANSPORT & TOURISM

Air Botswana to resume flights to Zimbabwe

AIR Botswana has announced plans to resume flights between Gaborone and Harare next month, a move the Zimbabwe Tourism Authority (ZTA) says will boost the tourism business between the two countries. T...

INDUSTRIALS & ENERGY

RioZim, Zesa to ink power deal

RIOZIM says its US$1,5 billion investment into building a 2 800 megawatts thermal power station in Sengwa, Gokwe North, remains firmly on course with the company now moving to the next phase of prelim...

TRANSPORT & TOURISM

Mnangagwa engages IATA executives

INTERNATIONAL Air Transport Association (IATA) executive members met with President Mnangagwa at his Munhumutapa Offices yesterday to discuss ways of improving the air transport system in the country ...

MINING & RETAIL

Govt to withdraw licences for profiteering businesses

GOVERNMENT is going to withdraw operating licenses of shops that are profiteering and give them to "patriotic" people, Defence and War Veterans Welfare deputy minister Victor Matemadanda has said.Spea...

MINING & RETAIL

Zimbabwe mining industry set to generate US$3bn

Zimbabwe's mining industry expects to generate US$3 billion in revenue this year, which is short of government's US$4 billion target, an industry official has said.In 2018, the sector earned US$3,4 bi...

INDUSTRIALS & ENERGY

Currency reforms expected to stabilise fuel sector

THE re-introduction of the Zimbabwean dollar is expected to bring stability to the fuel sector as Government tightens fiscal and monetary policies to ease pressure on foreign currency demand, National...

INDUSTRIALS & ENERGY

Drilling to begin next year in Muzarabani

ONE Gas Resources, the exploration partner of Invictus Energy Ltd in Zimbabwe's Muzarabani district, expects drilling to begin in the second half of next year, targeting an estimated 1.3 billion barre...

BUSINESS NEWS

Power cuts cripple informal sector

THE incessant power cuts being experienced across the country have hit the informal sector hardest with players now spending long hours or days without production. The power utility, Zesa, is implemen...

FINANCIAL SERVICES

US$645m traded on interbank market

About US$645 million has been traded on the interbank market since the platform was established in February this year, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said. "As at the end...