INDUSTRIALS & ENERGY

Delta Beverages revenue decline 1%

Delta Beverages recorded a 1% decline in revenue for the 12 months to 31 March 2014 while the total beverage volume remained flat on prior year and down 6% for the fourth quarter, zfn reported.In a t...

By Staff reporter | Published: 10 April 2014

TELECOMS & TECHNOLOGY

TelOne digitalisation moving at a snail's pace

TELONE'S digitalisation of the Gweru Exchange Centre and the rollout of its fibre network is moving at a snail's pace due to failure by customers to settle their bills.The fixed telecommunications ope...

By Staff reporter | Published: 10 April 2014

TELECOMS & TECHNOLOGY

NetOne, ZETDC enter into partnership

ONE of the country's mobile operators NetOne, has entered into a partnership with the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), which will see the mobile phone's One Wallet s...

By Staff reporter | Published: 10 April 2014

INDUSTRIALS & ENERGY

National Blankets on the rebound

THE country's largest blanket manufacturing company, National Blankets' judicial manager Philip Ndlovu, says the Bulawayo company is now debt-free and is working on addressing working capital challeng...

By Staff reporter | Published: 10 April 2014

FINANCIAL SERVICES

Life assurance firms record 34% growth

Life assurance companies in Zimbabwe recorded a healthy 34 percent growth in gross premiums written for the year to December 31 2013, according to the latest report released by the Insurance and Pensi...

By Staff reporter | Published: 10 April 2014

FINANCIAL SERVICES

Bank lending to private sector falls

BANK lending to Zimbabwe's private firms contracted from an annual growth of 28,77 percent in February 2013 to 1,5 percent due to tighter credit policies resulting from rising non-performing loans and...

By Staff reporter | Published: 10 April 2014

LANDS & AGRICULTURE

CFI in talks over Agrifoods

ZSE-listed CFI Holdings is in talks with a local private equity fund over a possible investment into its stock feeds unit, Agrifoods.Well placed sources told The Herald Business that negotiations betw...

By Staff reporter | Published: 10 April 2014

CONSTRUCTION & PROPERTY

NSSA to construct shopping mall

THE National Social Security Authority will next year start the construction of a shopping mall in Harare central business district, consisting of a garage and offices, at an initial cost of $16 milli...

By Staff reporter | Published: 10 April 2014

MINING & RETAIL

Blanket Mine targets further gold ramp up

Toronto Stock Exchange-listed Caledonia Mining Corporation plans further investment in Blanket Mine to ramp up production to 52 000 ounces per annum by next year.Already, Caledonia is confident it wil...

By Staff reporter | Published: 10 April 2014

CONSTRUCTION & PROPERTY

Willdale to fresh capital raise

ZSE-listed manufacturing concern Willdale is seeking to raise fresh capital to meet working capital and re-tooling requirements.The company, which has debts amounting to $6,6 million, will seek to rai...

By Staff reporter | Published: 09 April 2014

MINING & RETAIL

Zim 2013 mining royalties fall below target

Zimbabwe last year achieved only 54,6 percent of targeted royalties from the mining sector.According to official figure cited in the African Development Bank (AfDB)'s latest Zimbabwe Monthly Economic ...

By Staff reporter | Published: 09 April 2014

INDUSTRIALS & ENERGY

Econet invests $17m in bottling plant

Econet Capital Zimbabwe has invested $17 million into a new beverages packaging plant at the Mutare Bottling Company (MBC).Speaking at the official commissioning of the plant, imported from Italy, MBC...

By Staff reporter | Published: 09 April 2014

INDUSTRIALS & ENERGY

ART Holdings board appointments

The board announces the appointment of Mr. Elisha Moyo and Mr. Andrew Nyakonda as non-executive directors with effect from February 2014.Elisha holds a Bachelor of Law (Honours) Degree, LLB and MBA fr...

By Staff reporter | Published: 09 April 2014

INDUSTRIALS & ENERGY

Econet not selling Mutare Bottling Company

ECONET Wireless has reaffirmed its commitment to its investment in Mutare Bottling Company, seeing through the installation of a $17 million new line and factory investment, which will boost the firm'...

By Staff reporter | Published: 09 April 2014

INDUSTRIALS & ENERGY

Delta renews hostilities with beverage wholesalers

Delta Corporation has renewed hostilities with beverage wholesalers amid allegations that the beverage manufacturer is demanding payment within three days despite holding security from customers.Whol...

By Staff reporter | Published: 09 April 2014

LANDS & AGRICULTURE

Tobacco prices remain depressed

Prices at the tobacco auction floors have remained depressed resulting in a 15,5 percent disparity with prices recorded during the same period last year.According to the latest figures released by the...

By Staff reporter | Published: 09 April 2014

FINANCIAL SERVICES

ABC avails $25m facility for agriculture

ABC Holdings Limited has signed an agreement with the Africa Agriculture and Trade Investment Fund (AATIF) that has resulted in a $25 million funded risk sharing facility becoming available to agricul...

By Staff reporter | Published: 08 April 2014

INDUSTRIALS & ENERGY

Medtech revenues up 14%

Pharmaceuticals manufacturer Med-Tech Holdings' revenues grew by 14 percent to $15,7 million last year due to strong demand in its distribution business.The financing cost of the group reduced 10 perc...

By Staff reporter | Published: 08 April 2014

FINANCIAL SERVICES

ZB Holdings targets more informal trader accounts

ZB Holdings plans to increase its services to the informal sector as the group has proved to be a low default risk when it comes to loan repayments.ZB Holdings business development manager Shadowsight...

By Staff reporter | Published: 08 April 2014

INDUSTRIALS & ENERGY

Lifeline for David Whitehead Textiles

DAVID Whitehead Holdings has been saved from liquidation after the High Court granted a final judicial management order for the company. Knowledge Hofisi of Aurifin Capital has been confirmed the fina...

By Staff reporter | Published: 08 April 2014

FINANCIAL SERVICES

RBZ proposes law to curb insider loans

The Reserve Bank of Zimbabwe (RBZ) says efforts are being made to craft a law to deal with insider loans which have become a major of concern in the banking sector.Speaking at SAPES Dialogue last week...

By Staff reporter | Published: 08 April 2014

MINING & RETAIL

Zim mineral output slumps

Zimbabwe's mineral output remained depressed in February 2014 with gold and nickel registering significant declines, a Finance ministry state of the economy report indicates.The country produced 831,3...

By Staff reporter | Published: 08 April 2014

FINANCIAL SERVICES

Flush out 'rogue' bankers, new RBZ chief urged

Former Finance minister Tendai Biti has urged new Reserve Bank of Zimbabwe governor John Mangudya to wield the axe on ‘rogue' bankers whom he accuses of pervading the financial sector.Mangudya - cur...

By Business Live | Published: 08 April 2014

INDUSTRIALS & ENERGY

Zimplow seeks to consolidate share capital

ZIMPLOW intends to consolidate its share capital by which every four existing ordinary shares of $0,0001 each will be consolidated into one new ordinary share of $0,0004. The proposed share consolidat...

By Staff reporter | Published: 08 April 2014

FINANCIAL SERVICES

$103 million Treasury Bills fully subscribed

NINE financial institutions have fully subscribed for the $103 million Treasury Bills floated by the Reserve Bank of Zimbabwe last month with CBZ Bank snapping up more than half of the amount on offer...

By Conrad Mwanawashe | Published: 08 April 2014

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