BUSINESS NEWS

NSSA asserts rights over Capital Bank

THE National Social Security Authority (NSSA) this week asserted its rights over Capital Bank, formerly ReNaissance Merchant Bank, which is now in liquidation and has been the subject of litigation by...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

POSB depositors surge to 600 000 in three years

THE People's Own Savings Bank (POSB) has survived the hard economic conditions in the country and its depositors have risen to 600 000 in the last three years.This was revealed by the bank's public re...

By Staff reporter | Published: 19 September 2017

BUSINESS NEWS

Buyanga extends business to gold, precious metals

THE African Medallion Group (AMG) has extended the scope of its business activities to include gold purchasing and precious metal beneficiation.The development has seen AMG increasing its gold reserve...

By Staff reporter | Published: 13 September 2017

BUSINESS NEWS

ZimSwitch in huge transactions surge

NATIONAL electronic funds switch, ZimSwitch, recorded a 1 600 percent surge in digital transaction volumes during the first half of the year, from an average of 900 000 per month to over 16 million t...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

Safeguard warns of increase in armed robberies

Safeguard Security has warned of a noticeable increase in crimes involving firearms, particularly in remote areas, and of an increase in break-ins in Harare's northern suburbs. It has urged those with...

By Agencies | Published: 23 August 2017

BUSINESS NEWS

CZI to complete manufacturing survey in October

THE Confederation of Zimbabwe Industries (CZI) says this year's manufacturing sector survey would be completed in October with the results expected in November.CZI president Mr Sifelani Jabangwe said ...

By Staff reporter | Published: 23 August 2017

BUSINESS NEWS

RBZ governor backs street sales

STUNG by poor cash circulation on the market, Reserve Bank of Zimbabwe (RBZ) is encouraging local manufacturers to sell their produce directly to the market as a way of tapping into the money that is ...

By Staff reporter | Published: 06 August 2017

BUSINESS NEWS

RBZ owes MultiChoice $9 million

ANXIETY is growing among subscribers of the digital television service provided by MultiChoice Zimbabwe as banks throttle payment platforms, especially for non-AC holders.Even independent agents no lo...

By Staff reporter | Published: 06 August 2017

BUSINESS NEWS

Funeral assurance industry net profit up 56%

The funeral assurance sector registered a 56 percent growth in net profit to $2,54 million for the year ended March 2016 as claims dropped, the industry regulator said on Monday.Insurance and Pensions...

By Staff reporter | Published: 01 August 2017

BUSINESS NEWS

'We notified ZSE,' says Van Hoog

British tycoon Nicholas Van Hoogstraten says his investment vehicle - Messina Investments - notified the Zimbabwe Stock Exchange (ZSE) of its intention to buy out CFI Holdings minorities despite clai...

By Staff reporter | Published: 01 August 2017

BUSINESS NEWS

'No cash shortages in Zimbabwe,' says Chinamasa

FINANCE minister Patrick Chinamasa yesterday described the current cash shortages as a mirage, saying the government was satisfied with the prevailing liquidity position obtaining in the country.Addre...

By Staff reporter | Published: 25 July 2017

BUSINESS NEWS

Mine Entra kicks-off

Zimbabwe's premier mining exhibition, Mine Entra, has begun in Bulawayo, with a number of issues affecting the industry coming under the spotlight.The mining exhibition began with a Women in Mining Br...

By Staff reporter | Published: 19 July 2017

BUSINESS NEWS

Bulawayo rejects FBC housing proposal

THE Bulawayo City Council has rejected a bid by FBC Building Society, which sought a joint partnership in developing 517 high density residential stands in Luveve suburb.Following an engagement over t...

By Staff reporter | Published: 17 July 2017

BUSINESS NEWS

British diplomats raise red flag over Zimbabwe debt clearance plan

British diplomats in Harare have privately expressed serious concerns over Zimbabwe's plans to mortgage gold reserves to guarantee a syndicated long-term loan arranged by the African Export and Import...

By Staff reporter | Published: 14 July 2017

BUSINESS NEWS

Informal sector contributes 50% to economic growth

ZIMBABWE's informal sector could be the sixth largest in the Sub-Saharan region, contributing between 40 percent and 50 percent to economic growth - an estimated $7 billion - especially for the four-y...

By Staff reporter | Published: 12 July 2017

BUSINESS NEWS

'Zimbabwe economic revival possible'

In this week's instalment of Women on Top - a new column that celebrates women in top positions - Daily News deputy business editor Ndakaziva Majaka caught up with State fixed phone operator TelOne's ...

By Staff reporter | Published: 04 July 2017

BUSINESS NEWS

Zimra plans blitz on tax defaulters

The Zimbabwe Revenue Authority (Zimra) has threatened to "descend" heavily on all tax defaulters who ignore the granted amnesty to regularise their outstanding tax bills.Gershem Pasi, the Zimra commis...

By Staff reporter | Published: 07 June 2015

BUSINESS NEWS

Wazara companies claim $400k from Royal

Businessman Zachary Wazara's companies - Spiritage Zimbabwe Limited (Spiritage) and  Suremed Medical (Suremed) - are claiming nearly $400 000 from collapsed Royal Bank Limited (Royal).According t...

By Staff reporter | Published: 07 June 2015

BUSINESS NEWS

Zimbabwe goods too expensive, says CZI

The strong US dollar adopted in 2009 and the depreciation of the South African rand in recent years has made local products 25 percent more expensive and less competitive compared to imported goods, t...

By Golden Sibanda | Published: 29 July 2014

BUSINESS NEWS

Coca-Cola empowers Zimbabwe women

Coca-Cola's assistant brand manager Vee Sibanda says at least 1,300 Zimbabwean female entrepreneurs have been empowered under its 5by20 empowerment programme. The programme seeks to address the most c...

By Charity Ruzvidzo | Published: 21 July 2014

BUSINESS NEWS

Stop cash leakages

MOST foreign-owned firms and weak cash movement laws in Zimbabwe could be blamed for the tight liquidity conditions prevailing in the economy, analysts have said.Analysts said Zimbabwe was now like a ...

By Staff reporter | Published: 02 July 2014

BUSINESS NEWS

ZNCC president re-elected

THE Zimbabwe National Chamber of Commerce (ZNCC) president Hlanganiso Matangaidze was last week re-elected the chamber's president for another one year term. His vice-president Davison Norupiri was al...

By Staff reporter | Published: 30 June 2014

BUSINESS NEWS

'High import duty fuelling smuggling,' says Zimra

Zimbabwe Revenue Authority (Zimra) is proposing to lower import duty on finished clothes to reduce smuggling and increase tax collection.Gershom Pasi, the Zimra Commissioner General, this week told th...

By Staff reporter | Published: 25 June 2014

BUSINESS NEWS

Consistency vital in implementing indigenisation

Youth, Indigenisation and Empowerment Minister Francis Nhema is satisfied with results of the Indigenisation and Economic Empowerment Act since its inception saying investors are now warming up to the...

By Staff reporter | Published: 14 June 2014

BUSINESS NEWS

Limpopo Bridge to undergo major facelift

The New Limpopo Bridge, one of Zimbabwe's most successful projects under build operate and transfer model, is undergoing extensive facelift ahead of its handover to Government next month. The bridge t...

By Staff reporter | Published: 29 May 2014
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