BUSINESS NEWS

March inflation drops to 2.68%

ZIMBABWE'S annual rate of inflation for March shed 0,3 percentage points on the February figure to 2,68 percent, the Zimbabwe National Statistics Agency (ZimsStat) reported."This means that prices as ...

By Staff reporter | Published: 17 April 2018

BUSINESS NEWS

Dodgy US$1m bank deposit under probe

The Reserve Bank of Zimbabwe (RBZ) has frozen a US$1 million deposit held by a local bank amid suspicions it could be proceeds from an illegal gold deal involving 27 kilogrammes of bullion exported by...

By Staff reporter | Published: 13 April 2018

BUSINESS NEWS

CBZ, Pick n Pay eye Shurugwi

One of the country's leading commercial banks, CBZ is set to open a new branch in Shurugwi as it seeks to increase its clientèle base.Shurugwi town secretary Mr Solomon Siziba said the bank was expec...

By Staff reporter | Published: 13 April 2018

BUSINESS NEWS

Chiwenga pledges forex to producers

Government has pledged to assist manufacturing companies with foreign currency and new equipment to boost their production capacity and ensure they generate their own foreign currency through exports....

By Staff reporter | Published: 12 April 2018

BUSINESS NEWS

Homelink avails $15m for leather industry

HOMELINK Finance has availed a $15 million facility to the leather industry in the country towards retooling and capacity building.Speaking on the sidelines of a workshop organised by the Leather Inst...

By Staff reporter | Published: 10 April 2018

BUSINESS NEWS

Lifeline for funeral assurance firms

The Insurance and Pension Commission has thrown a lifeline to funeral assurance firms failing to meet the $2,5 million minimum capital requirements by allowing struggling entities to comply with the r...

By Staff reporter | Published: 06 April 2018

BUSINESS NEWS

IDC offloads 15pc stake in Scaw Metals

The Industrial Development Corporation (IDC) has sold its 15 percent stake in Scaw Metals Group's Grinding Media, South Africa, to a United States of America firm, Magotteaux International as it seeks...

By Staff reporter | Published: 06 April 2018

BUSINESS NEWS

Indian health firm to take over CAPS

A top Indian health firm, Ajanta Pharma, has signed a letter of intent with Government to take over CAPS Pharmaceuticals and revive its operations. Further, the company intends to set up a top-notch h...

By Staff reporter | Published: 06 April 2018

BUSINESS NEWS

Shabanie Mashava Mine evicts ex-employees

Thousands of the affected workers are pensioners, who are owed more than $30 000 each in terminal benefits by the company.Part of the order served on one of the tenants read: "An order for eviction of...

By Staff reporter | Published: 05 April 2018

BUSINESS NEWS

Zim launches trade facilitation road-map

Government on Thursday launched a five- year Trade Facilitation Roadmap which seeks to simplify, harmonise and modernise export and import processes, among other things.The road-map, which will be imp...

By Staff reporter | Published: 02 April 2018

BUSINESS NEWS

Strong US$ dampens PPC's export prospects

A FIRMER United States dollar has dampened Portland Pretoria Cement Zimbabwe (PPCZ)'s prospects of penetrating potential lucrative regional markets, an official said.PPC Zimbabwe managing director Mr ...

By Staff reporter | Published: 25 March 2018

BUSINESS NEWS

Zimbabwe spends $80m on rice importation

ZIMBABWE expects to start commercial rice production in the next season or two as the country moves to cut annual rice importation expenditure of over $80 million, a senior Government official has sai...

By Staff reporter | Published: 23 March 2018

BUSINESS NEWS

ZETDC threat to switch off customers

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has warned customers of disconnections and litigation if they do not make payment plans by March 31.In a notice, ZETDC said custo...

By Staff reporter | Published: 14 March 2018

BUSINESS NEWS

NSSA pursues platinum, lithium investments

Deep-pocketed pensions administrator, National Social Security Authority (Nssa), is pursuing investment opportunities in the mining sector.The statutory body - sitting on a $1,3 billion asset base - i...

By Staff reporter | Published: 07 March 2018

BUSINESS NEWS

Zim aims to 'power the world's electric cars'

Zimbabwe's mining minister has said the country has the capacity to boost its lithium supply, CNBC Africa reports.Winston Chitando told a mining investment conference in the capital, Harare, the coun...

By BBc | Published: 28 February 2018

BUSINESS NEWS

Govt overdraft at RBZ hits $1,2bn

GOVERNMENT has so far accrued a $1,2 billion overdraft with the Reserve Bank of Zimbabwe with the new monetary policy statement prescribing to mitigate the unintended consequences of excess governmen...

By Staff reporter | Published: 08 February 2018

BUSINESS NEWS

ACF lines up $100 million investment

African Chrome Fields (ACF), which has invested more than $220 million in chrome mining along the country's mineral-rich Great Dyke, is lining up an additional $100 million investment in gold mining, ...

By staff reporter | Published: 07 February 2018

BUSINESS NEWS

CZI postpones economic outlook symposium

THE Confederation of Zimbabwe Industries (CZI) has postponed its economic outlook symposium that was scheduled for this week to next week in order to accommodate some officials attending the World Eco...

By Staff reporter | Published: 26 January 2018

BUSINESS NEWS

Black market forex unsustainable, says CZI

THE sourcing of foreign currency from the parallel market is not sustainable for industry operations and Government needs to capacitate the Reserve Bank of Zimbabwe (RBZ) to meet funding requirements ...

By Staff reporter | Published: 11 December 2017

BUSINESS NEWS

Fuel prices to go down

THE price of diesel will go down next year as  logistics associated with transporting the commodity will fall by half while the commodity will also be exempted from paying a road levy of 4c/litre...

By Staff reporter | Published: 03 December 2017

BUSINESS NEWS

AfDB initiative to create 25 million jobs

THE African Development Bank (AfDB) has launched a Youth Advisory Group that seeks to create 25 million jobs in Africa with target impact on 50 million youths over the next 10 years.The Presidential ...

By Staff reporter | Published: 01 December 2017

BUSINESS NEWS

Mnangagwa urged to scrap indigenisation law

ECONOMIC analysts say the best way for President Emmerson Mnangagwa's government to attract serious and long-term investment into the country is to scrap the controversial indigenisation law that has ...

By Staff reporter | Published: 30 November 2017

BUSINESS NEWS

'Bond listing helps deepen capital markets'

GOVERNMENT has said the maiden listing of the Infrastructure Development Bank of Zimbabwe (IDBZ) energy bonds provides flexibility to investors in terms of investment period and helps the bank to achi...

By Staff reporter | Published: 30 November 2017

BUSINESS NEWS

Mnangagwa's new Zimbabwe cabinet structure

Proposed civil service reorganisation....

By Staff reporter | Published: 30 November 2017

BUSINESS NEWS

Mugabe sons launch entertainment company

TripLife Entertainment, a promotions company reportedly owned by former president Robert Mugabe's sons; Robert Jnr and Chatunga was officially launched at Harem Nightclub in Johannesburg, South Africa...

By Staff reporter | Published: 27 November 2017
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