MINING & RETAIL

Sibanye eyes 7 400 job cuts

The mining bloodbath is continuing, with Sibanye on Thursday announcing a restructuring plan that could see about 7 400 jobs being cut.The miner, which employs 58 000 workers in South Africa, announce...

MINING & RETAIL

AngloGold, Harmony deal stall on new Mining Charter

Harmony Gold Mining Co.'s long-running talks to buy AngloGold Ashanti Ltd.'s South African assets have stalled because of uncertainty over the country's new mining regulations, according to people fam...

MINING & RETAIL

RBZ to market platinum, chrome

THE Reserve Bank of Zimbabwe (RBZ) will, with immediate effect take control of the marketing of platinum and chrome, in a move it says will improve transparency and efficient utilisation of foreign cu...

TRANSPORT & TOURISM

International Airlines rescued from payments backlog

THE Reserve Bank of Zimbabwe (RBZ) has begun allocating foreign currency for remittance of cash from ticket sales by international airlines, which have been failing to repatriate payments due to forei...

INDUSTRIALS & ENERGY

SecZ piles pressure on Turnall over fraud charge

TURNALL Holdings is studying a complaint by LHG Malta Holdings Limited to regulators over possible contravention of the Securities and Exchange Commission of Zimbabwe (SECZ) Act and the validity of a ...

LANDS & AGRICULTURE

End of tobacco season to worsen forex crisis

INDUSTRY has expressed fears over an expected worsening of foreign currency shortages in the aftermath of the tobacco selling season, which had mitigated a foreign payments backlog.The tobacco sellin...

FINANCIAL SERVICES

RBZ sets up fund for dividend repatriation

FOREIGN investors on the Zimbabwe Stock Exchange will soon be able to repatriate dividends and proceeds from equity trades following a central bank plan to establish a portfolio investment fund aimed ...

FINANCIAL SERVICES

DPC warns against unregistered lenders

The Deposit Protection Corporation (DPC) has warned the public against depositing cash with unregistered microfinance institutions, saying they risked losing their money to dubious entities.Over 100 ...

LANDS & AGRICULTURE

Tongaat refuse to buy settlers' cane

HUNDREDS of farmers who last year seized 4 400 hectares of sugarcane fields from Tongaat Hulett in Chiredzi are now in a quandary after the agro-industrial giant refused to buy their crop.The farmers,...

MINING & RETAIL

Govt identifies Zisco partner

GOVERNMENT has identified a new investor to revive operations at Zisco after the $750 million deal with an Indian conglomerate, Essar Global collapsed in 2015.Zisco ceased operations in 2008 due to se...

Hwange Colliery partners European firm

COAL miner Hwange Colliery Company Limited has selected a European company to conduct exploration and drilling at its new concession in western and Lubimbi fields in Hwange. Managing director Mr Thoma...

CONSTRUCTION & PROPERTY

Vakayi Capital makes first investment in Zimbabwe

Vakayi Capital, a venture capital firm, has availed about $400 000 to Homelux Property Development which will go towards the development of residential stands in Tynwald Harare.Vakayi is an SME-focuse...

TELECOMS & TECHNOLOGY

Potraz to roll out multi-million dollar project

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) yesterday said it will soon be rolling out a multi-million dollar project under the Universal Services Fund (USF).The projec...

LANDS & AGRICULTURE

Maize deliveries hit 450,000 tonnes

Grain deliveries to the Grain Marketing Board for the 2016 /17 farming season have tripled to 450 000 tonnes compared to the corresponding period, a senior Government has said. Farmers started deliver...

MINING & RETAIL

Zim asks court to compulsory acquire Zimplats land

Zimbabwe has filed a court application to enforce a previous notice to seize more than half of platinum producer Zimplats' mining land, the company said on Wednesday.Zimplats, which is majority contro...

TELECOMS & TECHNOLOGY

MTN expects to report positive numbers

Africa's largest telecoms company, MTN, expects to report positive numbers in its interim financial results for the six months to end-June 2017.The telecommunications provider projects basic headline ...

TELECOMS & TECHNOLOGY

Iflix Africa, Kwesé team up

Iflix Africa and Econet media team up to bring subscription video on demand (SVOD) services to sub-Saharan Africa. Iflix is the world's leading Internet TV service for emerging markets and Econet Med...

TRANSPORT & TOURISM

Miss Tourism Zim on fastjet's Magazine cover

fastjet's reimagined in-flight magazine Places this month features Miss Tourism Zimbabwe 2016 Ashley Morgen on the cover. Dressed by celebrated South African designer Khosi Nkosi and photographed by ...

MINING & RETAIL

Zimplats' revenue rise 9%, production up 17%

Zimbabwe Platinum Mines (Zimplats) increased its revenue by 9% from the previous quarter mainly due to the 16% increase in 4E metal sales volumes, which was partly offset by a general decrease in meta...

MINING & RETAIL

TM Pick N Pay job cuts will not affect Zimbabwe

TM Pick N Pay Zimbabwe says the 3 500 job cuts from South Africa's Pick N Pay retail giant will not affect Zimbabwean operations.Pick N Pay South Africa is cutting jobs after the retailer flagged down...

FINANCIAL SERVICES

DPC sues failed banks' executives

THE Deposit Protection Corporation (DPC) has started taking legal action against shareholders and directors of banks whose institutions failed due to poor corporate governance.DPC chief executive offi...

MINING & RETAIL

Mines portfolio chair accused of receiving bribes

Norton representative Mr Temba Mliswa yesterday accused chairman of the Portfolio Committee on Mines and Energy Daniel Shumba of receiving bribes from Sakunda Holdings chief executive officer Kudakwas...

FINANCIAL SERVICES

Getbucks $30m issue under subscribed

Financial services provider, GetBucks MicroFinance Limited (GetBucks) said yesterday its pace setting $30 million debt security has been under subscribed forcing the company to adopt another route to ...

SA consortium raise $400m for NRZ recap

A BUSINESS consortium comprising of South Africa's Transnet and the Diaspora Infrastructure Development Group (DIDG) has reportedly won a bid to partner the National Railways of Zimbabwe (NRZ) in a $4...

INDUSTRIALS & ENERGY

BAT faces UK probe over African bribe report

British American Tobacco Plc faces a formal probe by the UK's Serious Fraud Office following reports that the maker of Dunhill cigarettes bribed African government officials to influence tobacco le...