BUSINESS NEWS

Zim bank customer loyalty still low

Zimbabwe bank customer loyalty is very low; banks still need to build their trusts in customers but this is entirely based on the way the banks serve their customers.According to a survey conducted by...

By Staff reporter | Published: 13 December 2013

MINING & RETAIL

New diamond deposits found in Zimbabwe

MUTARE-based miner DTZ-OZGEO (Pvt) Limited (DTZ-OZGEO) says it has found conglomerate deposits capable of producing 2,5 million carats of top quality diamonds in the province's Chimanimani area.The co...

By Staff reporter | Published: 13 December 2013

CONSTRUCTION & PROPERTY

Durawall liquidated

Leading precast wall manufacturer Durawall Private Limited (Durawall) is undergoing liquidation, the company owner confirmed to the Daily News yesterday.Durawall has already laid off about 240 employe...

By Staff reporter | Published: 13 December 2013

INDUSTRIALS & ENERGY

Powerspeed confident of the future

Powerspeed Electrical Managing Director Hilton Macklin told an analysts briefing yesterday that the Group has transformed itself into a supplier of general hardware and is already seeing benefits of t...

By Staff reporter | Published: 13 December 2013

TRANSPORT & TOURISM

African Sun targets 20% pretax profit

African Sun Chief Executive Dr Shingi Munyeza told analysts yesterday that the Group is targeting a pre-tax return of 20% in FY14 after experiencing improved foreign arrivals this year. The compa...

By Staff reporter | Published: 13 December 2013

TELECOMS & TECHNOLOGY

Motorola enhancing its presence in Zimbabwe

MOTOROLA Solutions, a provider of mission-critical communication solutions and services, is enhancing its presence in Zimbabwe, where it has launched new enterprise mobility products, including the la...

By Staff reporter | Published: 13 December 2013

FINANCIAL SERVICES

Barclays Zim injects $40m new money

Barclays Bank (Zimbabwe) is one of four foreign-owned banks operating in Zimbabwe and the only one listed on the domestic bourse. The bank has been critical in mobilising credit lines to boost Zimbabw...

By Staff reporter | Published: 13 December 2013

TELECOMS & TECHNOLOGY

Econet, Zimbabwe banks renew feud

BANKS are once again up in arms with Econet Wireless over the mobile phone operator's refusal to give them access to its network platform to freely roll out their financial products.This comes as Zimb...

By Staff reporter | Published: 13 December 2013

MINING & RETAIL

Mines Minister fires three boards

Mines and Mining Development Minister Walter Chidhakwa yesterday dissolved boards of three institutions under his ambit, namely the Zimbabwe Mining Development Corporation (ZMDC), Minerals Marketing A...

By New Ziana | Published: 12 December 2013

MINING & RETAIL

Zim diamond beneficiation to begin

The Zimbabwe Diamond Technology Centre (ZDTC) set up in 2010 to help locals add value locally to the country's rough diamonds, will soon start diamond beneficiation in Harare, according to reports.The...

By Diamond World | Published: 12 December 2013

INDUSTRIALS & ENERGY

Karina Textiles liquidated

THE application for the liquidation of the country's sole manufacturer of knitting yarn, Karina Textiles (Pvt) Ltd was approved last Thursday. Karina Textiles shareholders had applied for liquidation ...

By Staff reporter | Published: 12 December 2013

FINANCIAL SERVICES

FBCH seeks $5m PTA loan

FBC Holdings Limited (FBCH)'s mortgage subsidiary is targeting $5 million-plus from its international financiers to expand its housing projects next year as it seeks to continue impacting on Zimbabwe'...

By Staff reporter | Published: 12 December 2013

TELECOMS & TECHNOLOGY

Celsys release depressed numbers

Celsys Limited released a depressed set of results recording an attributable loss of $0.6m. Administrative expenses decreased by 15% while labour costs continue to burden the company increasing by 9% ...

By Staff reporter | Published: 12 December 2013

CONSTRUCTION & PROPERTY

Property market slump set to continue

THE country's property sector is not likely to experience significant growth in 2014 as default rates and the amount of voids continue to rise unabated. Default rates have remained as high as 50 to ...

By Staff reporter | Published: 12 December 2013

CONSTRUCTION & PROPERTY

Old Mutual to build 15 000 houses

Fifteen thousand first time home - seekers are set to benefit from Old Mutual's housing developments across the country in the next five years.The insurance giant has set aside $62 million towards fun...

By Staff reporter | Published: 12 December 2013

TELECOMS & TECHNOLOGY

Econet gets 4 prestigious awards

ECONET Wireless Zimbabwe walked away with four prestigious awards at the Marketers Association of Zimbabwe 2013, Super Brand annual awards plus the prestigious overall business Super- brand 2013 award...

By Business reporter | Published: 12 December 2013

MINING & RETAIL

Hwange's $260 million deal raises stink

INDIGENOUS voices have raised eyebrows over the $260 million mining contract between Hwange Colliery Company Ltd and a Portuguese firm, Mota-Engil saying that it lacks moral wisdom. Concern has been r...

By Business Reporter | Published: 12 December 2013

TELECOMS & TECHNOLOGY

Econet unveils EcoCash Payroll

ECONET Wireless continues to sweat its mobile phone network infrastructure to spread tentacles deeper into the provision of banking services by rolling out a number of cellular-based products. While p...

By Business Reporter | Published: 12 December 2013

INDUSTRIALS & ENERGY

Kariba power station expansion to begin in Q1

THE 300-megawatt Kariba South Hydro Power Station expansion project is expected to start in the first quarter of 2014. The Zimbabwe Power Company (ZPC) said designs for the project were already under...

By Business Reporter | Published: 12 December 2013

LANDS & AGRICULTURE

Zim agriculture sector needs $500m

THE agriculture sector requires at least $500 million to stimulate productivity and guarantee food security in the country, the Zimbabwe Commercial Farmers' Union (ZCFU) immediate past president, Don...

By Business Reporter | Published: 12 December 2013

MINING & RETAIL

Freda Rebecca revenue decline 36%

Freda Rebecca gold mine's revenue for the six months to September declined 36% to $43.6 million from $59.7 million after mine production declined 11.2% to 32,252oz of gold compared to 36,335oz produc...

By Staff reporter | Published: 11 December 2013

MINING & RETAIL

Bindura Nickel returns to profitability

Bindura Nickel's revenue for the six months to September amounted to $21.4 million after the mine sold 2,191t of nickel concentrate according to unaudited results for the interim period published by p...

By Staff reporter | Published: 11 December 2013

MINING & RETAIL

Zim can become world's top platinum producer

ZIMBABWE has extensive potential to become the world's leading producer of platinum, on the basis of an improved performance in its macro operating environment.CPM Group platinum analyst Erica Rannest...

By Staff reporter | Published: 11 December 2013

INDUSTRIALS & ENERGY

Zimbabwe to boost energy output

ZIMBABWE plans to construct three solar-powered plants in the west of the country at a cost of $540-million in a bid to ease electricity shortages in the country, an official with the state power comp...

By Reuters | Published: 11 December 2013

FINANCIAL SERVICES

'Collective Investment Schemes must regularise'

THE Securities and Exchange Commission of Zimbabwe (SECZIM) has called upon asset managers and Collective Investment Schemes to regularise their licensing with the body.This follows SECZIM's recent en...

By Staff reporter | Published: 11 December 2013

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