MINING & RETAIL

Barcelos invests in another Bulawayo outlet

Internationally-acclaimed Barcelos restaurant is set to invest $350 000 in opening a second branch in Bulawayo. The restaurant boasts of three outlets in the country and is set to open more this year....

By Staff reporter | Published: 11 January 2019

MINING & RETAIL

Falcon Gold closed

GOVERNMENT has ordered Falcon Gold Mining Company in Shurugwi and other mining concerns within its proximity to immediately cease operations as a safety measure following the collapse of Wanderer Mine...

By Staff reporter | Published: 11 January 2019

INDUSTRIALS & ENERGY

Art Corporation looks beyond borders

ART Corporation is looking to allocate US$3 million for capital expenditure this year as it aims to manufacture 50 000 batteries whilst strengthening its export position in the regional market.In full...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Delta on the brink

DELTA Corporation says it faced the gloomy prospect of halting all its business operations this month owing to a crippling foreign currency shortage that has paralysed the economy.To cushion itself fr...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

Tourists arrivals to Zimbabwe increase by 4%

TOURIST arrivals to Zimbabwe increased 4% in the nine months to September 2018 to 1,8 million from 1,7 million in the corresponding period the previous year as international perceptions of the country...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

Shipping company threatens to block the release of containers for Zimbabwean importers

MEDITERANNEAN Shipping Company (MSC) SA (Zimbabwe) Pvt Ltd has threatened to block the release of containers for Zimbabwean importers over their failure to remit in excess of US$9,1 million in shippin...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

$400m NRZ deal in limbo

GOVERNMENT is reconsidering the US$400 million National Railways of Zimbabwe (NRZ) recapitalisation project to be jointly undertaken by the South African rail, port and pipeline company, Transnet and ...

By Staff reporter | Published: 11 January 2019

FINANCIAL SERVICES

Net closes in on under-capitalised assurers

The Insurance and Pensions Commission (Ipec), is closely monitoring three under-capitalised life assurance firms - Evolution Life, Heritage and Fidelity Life - after the assurers closed the third quar...

By Staff reporter | Published: 08 January 2019

FINANCIAL SERVICES

Life assurance profits down 63% in Q3

ZIMBABWE'S life assurance industry recorded 68 % decline in after tax profits to $314,85 million in the nine months to September 2018 compared to $979,27 million during the same period in 2017, the in...

By Staff reporter | Published: 08 January 2019

TRANSPORT & TOURISM

NRZ targets 4 million tonnes of freight

THE National Railways of Zimbabwe (NRZ) has projected to increase its freight by 25,6 percent this year buoyed by the anticipated improved business and recapitalisation efforts.NRZ public relations ma...

By Staff reporter | Published: 06 January 2019

TRANSPORT & TOURISM

RBZ releases $2,5m for wheat imports

Government has moved in to secure 30 000 metric tonnes of wheat worth $12,2 million with a 20 percent down payment following threats by an international supplier to cut off the deal citing Harare's de...

By Staff reporter | Published: 06 January 2019

MINING & RETAIL

Zimbabwe's 2018 gold deliveries break record

Zimbabwe's gold deliveries to Fidelity Printers and Refiners reached 33.2 tonnes in 2018 worth over $1 billion in export receipts, the highest ever since 1980 as the country starts rebuilding reserves...

By Staff reporter | Published: 04 January 2019

FINANCIAL SERVICES

CABS merge branches

CABS is merging its Greendale and Chisipite branches with effect from February 25 as a way of enhancing its digitalisation efforts.In a statement, the bank which boasts of more than 50 branches across...

By Staff reporter | Published: 02 January 2019

FINANCIAL SERVICES

Zimbabwe amends Microfinance Act

Government has rolled out the new amendments to the Microfinance Act.This comes as government sought to create credit and collateral registries as well as encourage consolidation among small businesse...

By Staff reporter | Published: 02 January 2019

INDUSTRIALS & ENERGY

Ariston returns to profitability

AGRICULTURAL concern Ariston Holdings posted an after tax profit of $2,8 million in the full year to September from a loss position of $1,7 million in the prior year, on the back of cost-cutting measu...

By Staff reporter | Published: 01 January 2019

MINING & RETAIL

Miners feared dead in mine shaft collapse

Some artisanal miners are feared dead after a mine shaft they were working in in Shurugwi collapsed at the weekend. The incident occurred on Saturday afternoon at Wonderer Mine, one of the oldest mine...

By staff reporter | Published: 01 January 2019

FINANCIAL SERVICES

First Capital Bank approves unbundling of non-core assets

FIRST Capital Bank, formerly Barclays Bank Zimbabwe, has approved the unbundling of non-core assets set for listing on the Zimbabwe Stock Exchange (ZSE). In a renewal of cautionary statement to shareh...

By Staff reporter | Published: 01 January 2019

CONSTRUCTION & PROPERTY

Property developers demand US dollars

Property developers are demanding payment in US dollars for residential stands or houses in a development that might further exclude ordinary people from owning houses. The development flies in the fa...

By Staff reporter | Published: 01 January 2019

INDUSTRIALS & ENERGY

Zimplow appoints new CEO

DIVERSIFIED manufacturer, Zimplow Holdings Limited, has appointed Mr Vimbayi Nyakudya as the new group chief executive officer replacing Mr Mark Hulett. In a statement yesterday the company advised sh...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

ZimParks in bid to boost domestic tourism

THE Zimbabwe Parks and Wildlife Management Authority (Zimparks) is considering a downward review of its service charges for locals in an effort to promote domestic tourism in 2019. Zimparks public rel...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

NRZ $400m deal still on - DIDG

THE $400 million National Railways of Zimbabwe (NRZ) recapitalisation deal is still on track with six financiers having shown interest to release close to $1 billion to fund the project. In 2017, NRZ ...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

HAZ hails Govt efforts to bolster tourism

The Hospitality Association of Zimbabwe (HAZ) is satisfied with the way the Government promoted domestic and international tourism in 2018 and will leverage on that plinth to maximize tourism receipts...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

HAZ calls for increased air connectivity

The Hospitality Association of Zimbabwe (HAZ) says prospects are bright for the tourism sector if Government improves connectivity of tourist centres by air. Further, HAZ called on the Government to p...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

Zimpost revenue dips on working capital constraints

ZIMPOST says it generated $19,3 million in revenue in the 11 months to November, which was 12% below the $22 million achieved last year, as liquidity challenges and working capital constraints affecte...

By Staff reporter | Published: 31 December 2018

TRANSPORT & TOURISM

Air Zimbabwe's 'Mbuya Nehanda' grounded for maintenance

Air Zimbabwe yesterday grounded Mbuya Nehanda, a Boeing 737-200ER, for mandatory maintenance expected to last over a month. The airline has largely been operating two serviceable aircraft and whenever...

By Staff reporter | Published: 31 December 2018
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