MINING & RETAIL

30 000 artisanal miners register to regularise operations

ONLY 30 000 of the estimated 1,5 million artisanal and small-scale miners have regularised their operations owing to high levies charged by government, Zimbabwe Miners Federation president Henrietta R...

By Staff reporter | Published: 27 September 2018

INDUSTRIALS & ENERGY

Simbisa's profits surge 139% in FY2018

SIMBISA Brands Limited (Simbisa), a public-listed company that owns, operates, and franchises quick service restaurants in Africa, has reported a more than double growth in net income in the full-year...

By Staff reporter | Published: 27 September 2018

INDUSTRIALS & ENERGY

AfDB begins to secure $4bn for Batoka development

THE African Development Bank (AfDB) has begun implementation of a resource mobilisation plan to secure an estimated $4 billion for the development of the 2 400 megawatts Batoka Gorge Hydro Electricity...

By Staff reporter | Published: 27 September 2018

INDUSTRIALS & ENERGY

Proplastics basks in good business

PLASTIC pipes and fittings manufacturer, Proplastics Limited, recorded a strong performance in the first six months of 2018 with a 70 percent jump in revenue from $6,3 million to $10,8 million when co...

By Staff reporter | Published: 27 September 2018

TRANSPORT & TOURISM

International airlines raise red flag over funds

INTERNATIONAL airlines operating in Zimbabwe are reportedly contemplating cancelling their routes after failing to recover a cumulative more than $130 million repatriation funds they are owed by the c...

By Staff reporter | Published: 27 September 2018

MINING & RETAIL

RioZim loses court case

Diversified mining group, RioZim Ltd's latest attempt to have the loan it obtained from Trust Bank reduced to $500 000 from $1,8 million suffered another setback after the High Court of Zimbabwe dismi...

By Staff reporter | Published: 27 September 2018

BUSINESS NEWS

Prices zoom out of control

The price of cooking oil has shot up by more than 20 percent, adding to the cost-push inflationary pressures triggered by the recent wave of price adjustments. A survey showed that the standard price ...

By Staff reporter | Published: 27 September 2018

MINING & RETAIL

Chrome producers engage MMCZ over pricing

SMALL-SCALE chrome miners have engaged the Mineral Marketing Corporation of Zimbabwe (MMCZ) to adopt a market-based pricing system to cut out losses and nurse the sector back to viability.Small-scale ...

By Staff reporter | Published: 21 September 2018

MINING & RETAIL

Govt to improve diamond sector governance

MINES minister Winston Chitando says the national diamond policy, which is expected to improve the governance of the sector, is now "imminent".The policy will be launched by President Emmerson Mnangag...

By Staff reporter | Published: 21 September 2018

FINANCIAL SERVICES

NicozDimond, Tristar merger commences

The directors of Tristar Insurance Company Limited (Tristar), a short-term insurance unit of First Mutual Holdings Limited (FML), have passed a resolution to seek the approval of the Minister of Finan...

By Staff reporter | Published: 21 September 2018

MINING & RETAIL

Boom in Mine Entra bookings reflects growing business confidence

This year's edition of the Mining, Engineering and Transport (Mine Entra) expo is already 93% booked, a sign of growing business confidence in the sector and strong international interest in doing bus...

By Staff reporter | Published: 21 September 2018

TELECOMS & TECHNOLOGY

AMH gets content distribution licence

The Broadcasting Authority of Zimbabwe (BAZ) has granted Alpha Media Holdings (AMH) subsidiary company, Heart & Soul Broadcasting Services (Private) Limited a third broadcasting licence.Heart &...

By Staff reporter | Published: 21 September 2018

TELECOMS & TECHNOLOGY

NetOne swings to profitability

State-owned mobile network operator NetOne swung to profitability in the eight months to August 31, 2018, as profit rose 105 percent to $1,3 million from a loss of $26 million in the prior comparable ...

By Staff reporter | Published: 21 September 2018

CONSTRUCTION & PROPERTY

Masimba foretells infrastructure boom, strong earnings

Masimba Holdings, a Zimbabwe Stock Exchange-listed contracting company, expects Zimbabwe's infrastructure sector to recover strongly in the outlook and drive its contracting business.CEO Canada Malung...

By Staff reporter | Published: 17 September 2018

TRANSPORT & TOURISM

NSSA finds investor for Beitbridge hotel

THE National Social Security Authority (NSSA) is finalising an agreement with a leading hotel company that will see its closed Beitbridge hotel facility being re-opened. The proposed venture is likely...

By Staff reporter | Published: 17 September 2018

CONSTRUCTION & PROPERTY

ZB avails 708 Plumtree housing stands

ZB BANK has availed 708 housing stands in Plumtree Town, which have since been opened up for sale to prospective home seekers in a partnership with the local authority. Speaking in Bulawayo during a b...

By Staff reporter | Published: 17 September 2018

INDUSTRIALS & ENERGY

Datlabs invests $1 million

PHARMACEUTICAL and personal care products maker, Datlabs Limited, has invested $1 million in capital expenditure meant to bolster production capacity and meet market supply requirements. The Bulawayo-...

By Staff reporter | Published: 17 September 2018

MINING & RETAIL

Govt ups efforts to boost gold output

THE Government will soon establish gold centres throughout the country as efforts to increase gold output to 100 tonnes per annum by 2023 gather momentum. This comes in the wake of reports that the co...

By Staff reporter | Published: 17 September 2018

FINANCIAL SERVICES

Nedbank Zimbabwe boasts high depositor confidence

NEDBANK Zimbabwe is one of the country's top banks with an impressive cost of funds ratio of less than 1%, which reflects a high level of confidence in attracting deposits.The bank rebranded from MBCA...

By Staff reporter | Published: 14 September 2018

FINANCIAL SERVICES

FMHL to set up reinsurance holding firm in Botswana

ZIMBABWE Stock Exchange-listed First Mutual Holdings Limited (FMHL) will establish a reinsurance holding company in Botswana as it moves to restructure its business and maximise on initiatives to rais...

By Staff reporter | Published: 14 September 2018

MINING & RETAIL

National Tyre Services hunts for MD

Zimbabwe Stock Exchange-listed National Tyre Services (NTS) is recruiting a managing director to replace Kennedy Mandevani who resigned last month.Mandevani resigned in August following the company's ...

By Staff reporter | Published: 14 September 2018

INDUSTRIALS & ENERGY

Mars seeks equity partner

Medical Air Rescue Services (Mars) Zimbabwe (Private) Limited is scouting for an equity partner to take up 60 percent of its shares.The air and road rescue service was placed under voluntary judicial ...

By Staff reporter | Published: 14 September 2018

TRANSPORT & TOURISM

Govt urged to address currency issues to attract more tourists

SOME international buyers and safari tour operators who went on a familiarisation tour of the country's major resorts post Sanganai/Hlanganani World Travel Expo have urged the government to address cu...

By Staff reporter | Published: 13 September 2018

INDUSTRIALS & ENERGY

Zimbabwean power imports down 50%

Zimbabwe's power imports declined by almost 50 percent during the second quarter of the year after the country's power utility increased generation at Kariba plant. Zesa Holdings increased output at K...

By Staff reporter | Published: 13 September 2018

MINING & RETAIL

Zimbabwe govt pledges support for largest gold miner

GOVERNMENT has made a commitment to provide the necessary facilitation to Zimbabwe's largest gold producer, Metallon Corporation, whose operations are being hampered by foreign currency shortages. The...

By Staff reporter | Published: 13 September 2018
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