BUSINESS NEWS

Zimbabwe gears for hyperinflation reporting

ZIMBABWE is on the verge of adopting a hyperinflation financial reporting model at a time inflation figures have spiked as its fragile economy teeters on the brink of collapse.The reporting modality, ...

By Staff reporter | Published: 10 October 2019

BUSINESS NEWS

No access to internet for 67 ZimPost offices

Sixty-seven post offices in Zimbabwe do not have internet access, the Abridged sector report for the second quarter has revealed.Potraz has been working on bridging the digital divide between the rura...

By Staff reporter | Published: 10 October 2019

BUSINESS NEWS

NetOne subscriber base up 6,1%

STATE-OWNED mobile network provider NetOne increased its subscriber base by 6,1 percent in the second quarter to June 2019, latest industry figures show. According to the Postal and Telecommunications...

By Staff reporter | Published: 07 October 2019

BUSINESS NEWS

11 500MW required to power Zimbabwe's Vision 2030

GOVERNMENT has called on the private sector to come on board and help increase investment in the energy sector to buttress attainment of an upper middle-income economy by 2030, which will require abou...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

Starafrica eyes 10% increase in exports

After concluding an agreement with ZETDC last month to ensure continuous power supply to the factory, Starafrica Corporation intends to recover 10% of production lost by accelerating export sales in t...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Zimpapers records 63% revenue increase

INCREASED investment towards tapping digital opportunities remains the anchor for the growth of Zimpapers (1980) Limited, the country's leading integrated media group, as it seeks to diversify operati...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

SECZIM develops handbook on Anti-Money Laundering

In a bid to assist Securities Market Intermediaries (SMIs) in understanding their obligations in the fight against money laundering and terrorist financing in the securities sector, the Security and E...

By Staff reporter | Published: 23 September 2019

BUSINESS NEWS

Average Zimbabwean lived on ZWL$10.78/day in July

Latest data from Zimstat shows that the average Zimbabwean lived on $10.78 per day while the average family needed $1,617 for enough subsistence to not be deemed poor. This means that Zimbabweans are ...

By Staff reporter | Published: 23 September 2019

BUSINESS NEWS

Month-on-month inflation slows to 18.07% in August

Month on month inflation continued to trend downwards in August, with the figure falling to 18.07% from 21.04% in July. Following the decision to suspend the release of annual inflation statistics, th...

By Staff reporter | Published: 23 September 2019

BUSINESS NEWS

Power cuts cripple informal sector

THE incessant power cuts being experienced across the country have hit the informal sector hardest with players now spending long hours or days without production. The power utility, Zesa, is implemen...

By Staff reporter | Published: 09 July 2019

BUSINESS NEWS

Mnangagwa's govt commends Chinese tiles firm

Government has commended the work done by a Chinese-owned tiles manufacturing company, Sunny Yi Feng based in Norton, which has already started exporting some of its products. The company began produc...

By Staff reporter | Published: 04 July 2019

BUSINESS NEWS

Mthuli Ncube's quotes on currency reforms . . .

"Replacing the multi-currency regime anchored in the United States dollar by the South African rand as the sole transaction currency would help reduce over-valuation and stimulate exports and growth. ...

By Lisa Tazviinga | Published: 01 July 2019

BUSINESS NEWS

Govt 300% fee hike irks industry

The government would to increase statutory fees for the mining sector by almost 300% in a move that has raised the ire of mining representative bodies.Application fees for platinum and chrome (ordinar...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Industry embraces Cabinet’s forex decision

INDUSTRIALISTS have embraced Cabinet's decision to craft measures that would see manufacturers being allocated foreign currency to procure key raw materials to reduce the cost of production and conseq...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Sanitary wear firm sets up shop in Bulawayo

A CHINESE owned company, Tiens International Group, plans to open a new sanitary wear plant in Bulawayo, whose products they claim have reproductive system healing qualities.  The firm participat...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Zimbabwe to float infrastructure bond

Government will float an infrastructure bond and turn to private-public partnership (PPPs) to raise funding amid revelation that at least US$14bn is required to rehabilitate Zimbabwe's infrastructure....

By Staff reporter | Published: 02 May 2019

BUSINESS NEWS

Fairfax dismembers BancABC parent

KENYA'S leading bank in terms of market capitalisation and customer numbers Equity Group has announced that it has entered into an agreement with Pan-Africa-focused banking group Atlas Mara to acquire...

By Staff reporter | Published: 02 May 2019

BUSINESS NEWS

Zimbabwe to host inaugural wine-tasting semi finals

Zimbabwe will this month host the inaugural Wines of South Africa (WoSA) Sommelier Cup Zimbabwe semi-finals in Victoria Falls, with the winner set to represent the country at the fourth grande finale ...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

'Price hikes reflect anti-export policy'

THE Confederation of Zimbabwe Industries (CZI) says price hikes currently obtaining in the country are a reflection of government's anti-export policies and not the fault of industry.CZI president Sif...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

Seed Co issues fake seeds warning

REGIONAL seed producer, Seed Co, has warned against buying uncertified seed, saying it has poor germination rate and results in low yields. Seed Co southern region manager, Mr Charles Munyoro, said fa...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

More Japanese firms for Zimbabwe

MORE Japanese are set to invest in Zimbabwe in response to the on-going economic reform process with Tokyo and Harare pushing for improved bilateral relations. Japanese Ambassador to Zimbabwe Mr Toshi...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

IDBZ to bankroll Mat South irrigation scheme

AT least 450 hectares of farm-land in Mangwe District, Matabeleland South Province will be opened up under a planned irrigation scheme to enhance the country's food security while some of the produce ...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

'Private sector frustrates interbank system'

INDUSTRY and Commerce Minister Mangaliso Ndlovu has blamed the private sector for frustrating the success of the interbank foreign currency market by shifting goal posts and blaming Government for the...

By Staff reporter | Published: 30 April 2019

BUSINESS NEWS

12 companies worth $1,8bn licensed for SEZs

Twelve private companies that have cumulative investment portfolios worth more than $1,8 billion have been licensed to operate ventures ranging from mining to beverage manufacturing in specially desig...

By Staff reporter | Published: 28 April 2019

BUSINESS NEWS

Corporate 24 Medical Aid launches new package

CORPORATE 24 Medical Aid has launched a new package meant for low-income earners called Ndine Plan.The medical aid package has three plans - Gold, Standard and Lite - which are meant for different seg...

By Staff reporter | Published: 27 April 2019
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