TELECOMS & TECHNOLOGY

ZBC to miss 2015 digitalisation deadline

STRUGGLING broadcaster, Zimbabwe Broadcasting Corporation (ZBC), will not be able to meet the international digitalisation deadline of 2015 if government does not avail funds, Parliament heard last we...

By Staff reporter | Published: 17 February 2014

BUSINESS NEWS

PSMAS board dissolved

The Premier Service Medical Aid Society board of directors on Friday dissolved itself with immediate effect. Chairperson Luxon Zembe; his deputy Newton Mhlanga; Advocate Moses Mtombeni; Secretary for ...

By Staff reporter | Published: 17 February 2014

INDUSTRIALS & ENERGY

Mushayavanhu bags Zuva Petroleum

Businessman and FBC Holdings group chief executive officer John Mushayavanhu has successfully purchased Zuva Petroleum - former BP & Shell assets - from Masawara. This was after regulatory authori...

By Staff reporter | Published: 17 February 2014

BUSINESS NEWS

Allied Bank to sell shares

ALLIED Bank is considering recapitalising through a placement of shares to potential investors, failure of which it will downgrade its banking license to a deposit taking micro-finance institution."T...

By Staff reporter | Published: 17 February 2014

INDUSTRIALS & ENERGY

Ariston recap pays off

Ariston Holdings says there has been significant uplift in output on all farms with a lot more potential going forward as the group’s rehabilitation programme begins to pay off. Giving an update of ...

By Staff reporter | Published: 17 February 2014

INDUSTRIALS & ENERGY

Sound results for Afdis

African Distillers (Afdis) Limited turnover grew by 11%, whilst volumes declined by 2% in 2013, owing to the tough economic environment, the company said in a commentary accompanying its half year res...

By Business reporter | Published: 17 February 2014

FINANCIAL SERVICES

Remo ruling presents dilemma

A High Court ruling that Interfin Securities (Private) Limited (Interfin) must return Remo Investment Brokers (Private) Limited (Remo)'s shares worth $3,3 million has presented market regulators and Z...

By Staff reporter | Published: 14 February 2014

FINANCIAL SERVICES

CBZ, Tuli in debt agreement

CBZ Bank Limited (CBZ) has agreed on a settlement plan with Reserve Bank of Zimbabwe (RBZ)'s subsidiary Tuli Coal (Tuli) following plans to attach the latter's property over an unspecified debt.The fi...

By Staff reporter | Published: 14 February 2014

TRANSPORT & TOURISM

Zim ranks 18th in Africa tourism index

Zimbabwe has been ranked 18th in the Bloom Consulting Country Brand Ranking, which focus on the appeal of countries in the fields of Tourism and Investment.The Bloom Consulting Country Brand Ranking, ...

By Staff reporter | Published: 14 February 2014

TELECOMS & TECHNOLOGY

Zim mobile subscriber ceiling reached

For the first time, mobile penetration has exceeded 100 percent mainly driven by subscriber growth from Econet Wireless and Netone. The country's second largest operator was apparently at receiving en...

By TechZim | Published: 14 February 2014

MINING & RETAIL

Zim shortlists two for platinum refinery

The Zimbabwean government says it has shortlisted two companies for the establishment of a platinum refinery in the country. According to a report by local news agency, the two companies were sho...

By Staff reporter | Published: 14 February 2014

TRANSPORT & TOURISM

2 more Air Zimbabwe bosses nabbed

SUSPENDED Air Zimbabwe CEO Innocent Mavhunga and his predecessor, Peter Chikumba, have been arrested on multi-million dollar fraud charges.On Wednesday, company secretary Grace Nyaradzo Pfumbidzayi, 4...

By Staff reporter | Published: 14 February 2014

TRANSPORT & TOURISM

Prospects bright for Byo hotels during ZITF

A NUMBER of hotels in Bulawayo are fully booked while bookings are still in progress for the rest of the hotels ahead of the Zimbabwe Trade Fair (ZITF) in April.A survey by Business Chronicle showed t...

By Staff reporter | Published: 14 February 2014

MINING & RETAIL

Mwana Africa plans to refine platinum in Zim

Mwana Africa Plc, a producer of nickel, gold and diamonds, plans to reopen a smelter in northeastern Zimbabwe to refine platinum-group metals in a move that could ease pressure to build a new refiner...

By Bloomberg | Published: 14 February 2014

FINANCIAL SERVICES

NMB Bank gets loan for long-term financing

NMB Bank has signed a $10 million loan agreement with Frenchbased development finance institution Proparco.The facility has a five-year tenure and is expected to finance local businesses in need of lo...

By Rumbidzayi Zinyuke I BH24 | Published: 13 February 2014

INDUSTRIALS & ENERGY

Datlabs needs $5 million to recapitalise

ZIMBABWE imports medicinal products such as drips yet it could manufacture them locally but due to lack of capital, manufacturing plants are lying idle.Pharmaceuticals and Personal Care Products Manuf...

By Lulu Brenda Harris | Published: 13 February 2014

INDUSTRIALS & ENERGY

Afdis grows revenue by 11%

Afdis reported a reasonable set of results showing 11% growth in turnover to $18.4m on the back of a favourable sales mix which positively impacted trading margins. Nonetheless, sales volume declined ...

By Staff reporter | Published: 13 February 2014

TRANSPORT & TOURISM

Victoria Falls airport upgrade takes shape

Excavation works for a new runway and compaction for foundation for a new terminal building at the Victoria Falls International Airport are now complete as the $150 million expansion project takes sha...

By Staff reporter | Published: 13 February 2014

TRANSPORT & TOURISM

NRZ to raise capital from scrap metal

THE National Railways of Zimbabwe (NRZ) plans to sell more than 30,000 tonnes of scrap metal to raise working capital.Speaking during a tour of NRZ facilities in Bulawayo organised by the Zimbabwe Nat...

By Staff reporter | Published: 13 February 2014

TRANSPORT & TOURISM

Air Zimbabwe boss arrested

SUSPENDED Air Zimbabwe company secretary and acting managing director Grace Pfumbidzayi was yesterday picked up by the police CID Serious Frauds Squad on six charges of fraud involving $7 million in r...

By Staff reporter | Published: 13 February 2014

FINANCIAL SERVICES

Interfin ordered to return shares to Remo

THE High Court has ordered Interfin Securities to return to Remo Investment Brokers share certificates it lodged with different firms as security for a loan, within three days, failure of which the De...

By Staff reporter | Published: 13 February 2014

TELECOMS & TECHNOLOGY

GOtv signal scrambled

MULTICHOICE'S Digital Terrestrial Television (DTT) GOtv has been scrambled placing local viewers in panic mode.GOtv has not been broadcasting since the beginning of this month.The failure by the servi...

By Staff reporter | Published: 13 February 2014

MINING & RETAIL

OK Zimbabwe opens tech shop

OK Zimbabwe has opened a world class technology shop hosting Zimbabwean technological players with all mobile network operators and VoIP operators sharing the same roof to reach out to the new cliente...

By Staff reporter | Published: 13 February 2014

FINANCIAL SERVICES

Barclays Bank's net interest income up 61%

Barclays Bank Zimbabwe's net interest income increased by 61% to $12.31 million while non-funded income went down by 9% to $27.19 million which reflects the effects of the capped charges on fees and c...

By Staff reporter | Published: 12 February 2014

FINANCIAL SERVICES

Barclays loan book up 26% in FY13

Barclays Bank Zimbabwe grew its loan book by 26% in the full year ended 31 December 2013 and will focus on increasing the level of lending in 2014, MD George Guvamatanga told an analyst briefing yeste...

By Staff reporter | Published: 12 February 2014

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