BUSINESS NEWS

URL listing to depend on economy outlook, says Moyo

A PLANNED initial public offering of United Refineries Ltd (URL) will depend on the economic climate, CE Busisa Moyo says.URL this year moved to strengthen its balance sheet by inviting pension funds ...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Cambria Africa expects savings of US$400 000

CAMBRIA Africa Plc expects savings of about US$400 000 in the current financial year in company compensation thanks to a recently completed re-organisation of the group, a company official said.Cambri...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Works begin on Hwange units 7, 8

HWANGE Power Station units 7 and 8 expansion project, launched by President Mnangagwa at the beginning of August this year, has commenced with a number of civil works now underway. The project will co...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Zimbabwe can fix corruption scourge, says Munyeza

Prominent businessman Shingi Munyeza says Zimbabwe has the ability to fix the endemic corruption that has brought the economy to its knees.Speaking at the AMH conversations series titled Tackling the ...

By Staff reporter | Published: 04 December 2018

BUSINESS NEWS

Busisa Moyo re-ignites rand debate

Industrialist Busisa Moyo has re-ignited the rand adoption debate by saying Zimbabwe can encourage "the wider circulation of the South African currency under its multi-currency system".This also comes...

By Staff reporter | Published: 03 December 2018

BUSINESS NEWS

Mthuli Ncube exemptions on 2% tax

TREASURY has proposed further exemptions to the Intermediated Money Transfer Tax of two cents per dollar transacted following widespread stakeholder concerns and the need to ease cost of doing busines...

By Staff reporter | Published: 28 November 2018

BUSINESS NEWS

Zimpost enters new era

The new Government led by President Mnangagwa is committed to the growth of the postal and courier services sector and ultimately the provision of the same to all, Information Communication Technology...

By Staff reporter | Published: 28 November 2018

BUSINESS NEWS

Negligence costs Parirenyatwa Hospital $27 000

NEGLIGENCE by doctors at Parirenyatwa Group of Hospitals which resulted in a patient suffering a bile leak has proved costly after the High Court ordered the public institution to pay damages amountin...

By Staff reporter | Published: 28 November 2018

BUSINESS NEWS

Pharmacists heed govt warning on US$ pricing

PHARMACEUTICAL companies yesterday said they had heeded government's directive to stop demanding hard currency for drugs, but pleaded with the Reserve Bank of Zimbabwe to consistently allocate them ad...

By Staff reporter | Published: 26 November 2018

BUSINESS NEWS

CTC condemns ZETDC, CAFCA barter agreement

THE Competition and Tariff Commission (CTC) has condemned the barter agreement between the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) and electrical cable supplier CAFCA accusi...

By Staff reporter | Published: 26 November 2018

BUSINESS NEWS

Power generation to improve

WORK on the much anticipated $5,2 billion Batoka Gorge Hydro Electricity project will soon commence after President Mnangagwa met officials from the main contractors, General Electric and Power China ...

By Staff reporter | Published: 25 November 2018

BUSINESS NEWS

Top forex earners to spur Zimbabwe revival

IMPROVED production of the country's two top foreign currency earning commodities, tobacco and gold is likely to be a springboard to the country's economic turnaround.Captains of industry and economis...

By Staff reporter | Published: 25 November 2018

BUSINESS NEWS

Surging inflation ravages economy

Zimbabwean business are reeling from a worsening double whammy of runaway inflation and rising input costs, which are threatening to snuff out the country's economic recovery prospects. The recent ala...

By Staff reporter | Published: 22 November 2018

BUSINESS NEWS

GMB deliveries improve to 1,14mt

THE Grain Marketing Board (GMB) has received a total of 1,14 metric tonnes (mt) of maize as at November 1, 2018, a report has noted.According to a report prepared by the Justice Mayor Wadyajena-led Po...

By Staff reporter | Published: 21 November 2018

BUSINESS NEWS

Beitbridge-Masvingo highway project begins

Work to widen and upgrade the Beitbridge-Masvingo highway has finally begun in Chivhu with graders and earthmoving equipment now busy carrying out detour works on the first 10 kilometer stretch.The pr...

By Staff reporter | Published: 20 November 2018

BUSINESS NEWS

Meikles challenges shares seizure

Meikles Limited has made a court application challenging the attachment of shares in several of its subsidiaries by the sheriff to settle a $1,5 million debt owed to a local consultancy firm.The liste...

By Staff reporter | Published: 20 November 2018

BUSINESS NEWS

Govt, industry in prices deadlock

GOVERNMENT and business yesterday reached an impasse over arbitrary price hikes after a lengthy meeting between Industry and Commerce minister Mangaliso Ndlovu and captains of industry in the capital....

By Staff reporter | Published: 20 November 2018

BUSINESS NEWS

'Zimbabwe ripe for investment'

DEVELOPING markets investment bank, Exotix Capital Limited says Zimbabwe under President Emmerson Mnangagwa's leadership is ripe for investment with potential investors now looking at the country with...

By Staff reporter | Published: 19 November 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

BUSINESS NEWS

Air Zimbabwe in trouble over internet services debt

NATIONAL airline, Air Zimbabwe (Pvt) Ltd has been taken to court by local internet service provider, Powertel Communications (Pvt) Ltd, over a $18 441 debt for services rendered.On August 17 this year...

By Staff reporter | Published: 10 September 2018

BUSINESS NEWS

Cambria raises $2,8 million from open offer

LONDON-listed Cambria Africa Plc says it has raised a total of £2,1 million (US$2,8 million) from an open offer of 191 million ordinary shares issued in May.An open offer is a secondary market offeri...

By Staff reporter | Published: 20 July 2018

BUSINESS NEWS

Black market rates hit 100% ceiling, why and how?

PARALLEL market rates have finally hit 100% when using EcoCash or bank transfers to buy the greenback, the first time they have reached such a rate since dollarisation and the main question now is how...

By Staff reporter | Published: 18 July 2018

BUSINESS NEWS

Cigar wrapper farming lucrative business

Tobacco farmers in Burma valley have now shifted to cigar wrapper farming so they could receive direct payments into their accounts for their crop.Tobacco Industry Marketing Board spokesperson Isheune...

By Staff reporter | Published: 17 July 2018

BUSINESS NEWS

Zimbabwe exports shoot up marginally

ZIMBABWE's exports increased by 1,8 percent last month rising from $267,1 million in May to $384,4 million in the month of June, official trade figures show.The improved month-on-month export performa...

By Staff reporter | Published: 15 July 2018

BUSINESS NEWS

Tobacco fails to deliver Zim forex relief

IH Securities says the economy is yet to feel the impact of the tobacco export proceeds despite being over 90 days into the season.In IH Securities outlook for the month released recently, the local f...

By Staff reporter | Published: 13 July 2018
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