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: 7 hours ago

INDUSTRIALS & ENERGY

Rubber products back on line, resumes exports

BULAWAYO-BASED manufacturing concern Rubber Products Manufacturers is back on line and has resumed exports after having shut down in 2013 due to a huge debt, shortage of working capital, among other c...

By Staff reporter | Published: 7 hours ago

CONSTRUCTION & PROPERTY

Masimba to construct houses in Kariba

Industrial firm Masimba has been given a $15 million contract by IDBZ to build over 1 500 houses in Kariba. At completion the project will facilitate relocation of 391 house-holds who are presently at...

By Staff reporter | Published: 7 hours ago

TRANSPORT & TOURISM

NRZ investors fret over delays

National Railways of Zimbabwe (NRZ) investors are fretting over endless delays in consummating the deal, especially after being announced as the preferred partner last month, it has been learnt. A con...

By Staff reporter | Published: 7 hours ago

TELECOMS & TECHNOLOGY

Blocked in Zim, Kwese TV launches in SA

ZIMBABWEAN telecoms tycoon Strive Masiyiwa's new pay television service, Kwese TV, has kick-started services in South Africa through a partnership with Netflix, it said on Friday as it seeks to claw u...

By Staff reporter | Published: 7 hours ago

INDUSTRIALS & ENERGY

CFI secures $10m for rehab

CFI Holdings' divisions, Agrifoods and Victoria Foods, may soon resume production after judicial manager Mr Reggie Saruchera secured $10 million from a local bank for plant rehabilitation and working ...

By Staff reporter | Published: 7 hours ago

MINING & RETAIL

Gold output increases

ZIMBABWE'S gold production has risen by about 10 percent in the first eight months of the year to 14.6 tonnes from 13.4 tonnes in the comparable period in 2016, official figures show.The country's exp...

By Staff reporter | Published: 7 hours ago

LANDS & AGRICULTURE

GMB ordered to pay farmers

The Government has directed the Grain Marketing Board (GMB) to immediately activate satellite collection points to mop up the remaining grain as the Strategic Grain Reserve has hit a million tonnes.Th...

By Staff reporter | Published: 7 hours ago

LANDS & AGRICULTURE

Grain reserves hit one million tonnes

Government has directed the Grain Marketing Board (GMB) to immediately activate satellite collection points to mop up the remaining grain as the Strategic Grain Reserve has hit a million tonnes.GMB ha...

By Staff reporter | Published: 7 hours ago

LANDS & AGRICULTURE

ZFMA wants ban on finished fertilizer imports

The Zimbabwe Fertiliser Manufacturers Association says Government should ban finished fertilizer imports as manufacturers can produce enough to meet demand if fully supported.ZFMA president Mr Tapuwa ...

By Staff reporter | Published: 23 hours ago

MINING & RETAIL

RHA Tungsten mine gets estimates upgrade

Zimbabwe's RHA Tungsten Project, under development, near Bulawayo has received has had its underground mineral resource estimates upgraded.The RHA Tungsten mine is 49 percent owned by junior resources...

By Staff reporter | Published: 23 hours ago

MINING & RETAIL

Refinery project still a priority in Zim, says Zimplats

Platinum mining giant, Zimplats' $134 million SMC Base Metal Refinery (BMR) refurbishments project remains a priority for the group but continued cash flow constrains arising from depressed metal pric...

By Staff reporter | Published: 18 September 2017

INDUSTRIALS & ENERGY

IDC seeks investor for Zimglass revival

INDUSTRIAL Development Corporation's glass manufacturing firm, Zimglass has started aggressively looking for an investor who can inject $7 million towards the revival of the plant after earlier indica...

By Staff reporter | Published: 18 September 2017

TRANSPORT & TOURISM

New Beitbridge hotel set to boost tourism

A NEWLY built hotel in Beitbridge worth thousands of dollars is set to boost tourism and economic development in the border town as well as create 50 new jobs.The 30-roomed Zhove Leisure Park situated...

By Staff reporter | Published: 18 September 2017

LANDS & AGRICULTURE

Allied Timbers diversifies into fruit trees

ALLIED Timbers Zimbabwe is diversifying into fruit tree production as it seeks to add revenue streams and ensure optimum usage of its vast tracts of land, an official has said.Allied, wholly owned by ...

By Staff reporter | Published: 18 September 2017

INDUSTRIALS & ENERGY

Proplastics targets increased exports

PLASTIC pipe systems manufacturer, Proplastics, is targeting to increase exports to the "ideal 10 percent" from the current two percent as the group has started picking up orders from as far as Sierra...

By Staff reporter | Published: 18 September 2017

MINING & RETAIL

Low prices affect BNC's smelter restart plans

Bindura Nickel Corporation (BNC) has said the smelter restart project has been hampered by cash flow problems, arising from low nickel prices.BNC is a subsidiary of Asa Resources.BNC managing director...

By Staff reporter | Published: 18 September 2017

INDUSTRIALS & ENERGY

Proplastics profit up 287% to $353,000

Plastics manufacturer, Proplastics's net income for the six months to June grew nearly threefold to $352, 946 from $91,243 reported in the same period last year on increased sales and lower finance co...

By The Source | Published: 15 September 2017

MINING & RETAIL

Zimplats profits rises 522%

Zimplats profit after tax for the full year to 2017 increased 522 percent to 45 million from $7 million the previous comparative period.The platinum mine's profit before tax was also up at $100 millio...

By Staff reporter | Published: 15 September 2017

MINING & RETAIL

Dalny Mine boosts RioZim operations

Listed miner RioZim says the growth of its revenues by 16 percent to $37,8 million in the six months to June 2017 was as a result of the acquisition of Dalny Mine.The group recently snapped up Dalny M...

By Staff reporter | Published: 15 September 2017

TELECOMS & TECHNOLOGY

Powertel goes for weeks without internet connectivity

Low cost internet provider, Powertel Communications' internet connectivity has been down for a week, with the parastatal remaining mum over the disservice.The blackout has affected Powertel's, a subsi...

By Takudzwa Chiwara | Published: 15 September 2017

MINING & RETAIL

Implats threatens to close Mimosa mine

IT'S "crunch time" for Impala Platinum's (Implats')  Mimosa mine which is under threat of closure as it cannot not comply with Zimbabwe's beneficiation laws and remain profitable.The Harare gover...

By miningmx | Published: 15 September 2017

FINANCIAL SERVICES

Imara, Kura merge

Imara Asset Management Limited ('Imara') and Kura Capital Limited ('Kura') are merging to create a pan African fund manager with over USD200m of assets under management.Kura is a highly respected, awa...

By Agencies | Published: 15 September 2017

MINING & RETAIL

ZCDC invests $30m in kimberlite mining

THE Zimbabwe Consolidated Diamond Company (ZCDC) has invested $30 million in kimberlite mining and plant equipment from South Africa in a bid to exploit minerals for sustainability and growth.Of the t...

By Staff reporter | Published: 15 September 2017

TELECOMS & TECHNOLOGY

OpenView HD a hit in Zimbabwe

MORE television viewers who were used to MultiChoice's DStv service appear to have found solace in the OpenView HD, a free-to-air satellite TV service meant for the South African market that provides ...

By Staff reporter | Published: 15 September 2017
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