FINANCIAL SERVICES

Hwange, IDBZ $6m project kicks off

ONE of Hwange's biggest infrastructural projects funded to the tune of $6 million by the Infrastructural Development Bank of Zimbabwe (IDBZ) has started.Speaking after a tour with officials from the M...

By Staff reporter | Published: 22 hours ago

INDUSTRIALS & ENERGY

Chibanguza survives ouster bid, Rudland quits

CFI Holdings Limited board member, Shingirai Chibanguza survived an ouster bid, while Hamish Rudland resigned from the company's board on Tuesday ahead of yesterday extraordinary general meeting (EGM)...

By Staff reporter | Published: 15 December 2017

MINING & RETAIL

Turk Mine workers' pay strike enters 24th day

A STRIKE by more than 700 workers at Turk Mine in Bubi District over salary arrears of about six months reached day 24 yesterday.They have been staging sit-ins and blocking any movement at the mine ga...

By Staff reporter | Published: 15 December 2017

FINANCIAL SERVICES

Defunct AfrAsia bank fails to pay creditors

AFRASIA Bank Zimbabwe says it will not be able to pay its creditors this year due to ongoing legal proceedings and an acute shortage of money on the market, which have delayed liquidation of the colla...

By Staff reporter | Published: 15 December 2017

TELECOMS & TECHNOLOGY

TelOne in 6,3% revenue jump

DIVERSIFIED communications firm, TelOne, recorded a 6,3 percent jump in revenue in the third quarter of 2017 largely driven by voice and Internet services, the postal and telecommunications sector per...

By Staff reporter | Published: 15 December 2017

INDUSTRIALS & ENERGY

Debt-ridden Zesa seeks tariff hike

THE debt-ridden Zimbabwe Electricity Supply Authority (Zesa) has written to government lobbying for a tariff hike with effect from next month amid reports the national power utility is technically ins...

By Staff reporter | Published: 15 December 2017

MINING & RETAIL

Lack of funding stalls Trojan mine smelter

A plan to re-open a smelter at Bindura Nickel Corporation (BNC)'s Trojan Nickel Mine has stalled after the company ran out of funding, an offical has said.BNC managing director Batirai Manhando told a...

By Staff reporter | Published: 15 December 2017

LANDS & AGRICULTURE

SeedCo Zim targets 275% maize growth

Zimbabwe's largest seed producer, SeedCo, says it is targeting to increase maize production in the small-holder sector by 275% from the current 0.8 tonnes to 3.0 tonnes. SeedCo Zimbabwe managing direc...

By Staff reporter | Published: 15 December 2017

INDUSTRIALS & ENERGY

Van Hoog seizes control of CFI

British tycoon Nicholas Van Hoogstraten seems to have won the battle for the control of CFI Holdings after coming to the rescue of Shingirayi Chibhanguza this week with 52% of the group's shareholders...

By Staff reporter | Published: 15 December 2017

TRANSPORT & TOURISM

NRZ deal done by Q1: Chinamasa

THE $400 million National Railways of Zimbabwe (NRZ) recapitalisation deal will be finalised in the first quarter of 2018, Finance and Economic Planning Minister Patrick Chinamasa has said.A consortiu...

By Staff reporter | Published: 14 December 2017

MINING & RETAIL

Zim uses tax stick on lithium miners

LITHIUM producers, who are riding the wave of increased global demand and rising prices, have been jolted by a raft of tax measures proposed by Finance Minister Patrick Chinamasa last week, to drive l...

By Staff reporter | Published: 14 December 2017

INDUSTRIALS & ENERGY

Mashold fires top executives

THE Zimbabwe Stock Exchange listed property investment and development concern, Mashonaland Holdings (Mashold) Limited, has fired two top executives who were on suspension for financial irregularities...

By Staff reporter | Published: 14 December 2017

MINING & RETAIL

Bindura Nickel Corporation seeks toll deals

BINDURA Nickel Corporation (BNC) says it has begun scouting for third party producers to process their concentrate under toll manufacturing deals at its soon to be completed $26,5 million smelter at T...

By Staff reporter | Published: 14 December 2017

MINING & RETAIL

Mines warm up to Mnangagwa

AT least 630 of the country's 800 mines are projecting strong growth in 2018, riding on anticipated policy reforms under President Emmerson Mnangagwa's new administration and aggressive expansion by "...

By Staff reporter | Published: 14 December 2017

FINANCIAL SERVICES

Mutandagayi bounces back

ZB FINANCIAL Holdings Limited chief executive officer Ronald Mutandagayi has bounced back as board chairman of Mashonaland Holdings (Mashold) following the ouster of Michael Mahachi.ZB is the largest ...

By Staff reporter | Published: 14 December 2017

TRANSPORT & TOURISM

fastjet launch additional Harare - Vic Falls flights

fastjet has launched additional Festive Flights between Harare and Victoria Falls.Due to popular demand fastjet has added additional flights between Harare and Victoria Falls this Festive Season. Addi...

By Staff reporter | Published: 14 December 2017

TELECOMS & TECHNOLOGY

NetOne records 291% mobile money subscriptions

STATE-OWNED mobile communications operator, NetOne, recorded an increase of 291 percent in mobile money subscriptions in the third quarter 2017, a Postal and Telecommunications Regulatory Authority of...

By Staff reporter | Published: 14 December 2017

LANDS & AGRICULTURE

Tongaat bemoans drastic fall in sugar production

TONGAAT Hulett Zimbabwe has bemoaned the drastic fall in production at Mkwasine Sugar Estate in Chiredzi amid reports that out-growers have produced half the target.Speaking during the commissioning o...

By Staff reporter | Published: 14 December 2017

LANDS & AGRICULTURE

Zimbabwe earns $870m from tobacco

ZIMBABWE has earned $871, 2 million from 176,4 million kilogrammes of tobacco exported mainly to South Africa and China since the beginning of 2017.Statistics from the Tobacco Industry Marketing Board...

By Staff reporter | Published: 14 December 2017

FINANCIAL SERVICES

Untu to raise $1 million from mobile note

Micro-financier Untu Capital is set to raise $1 million from the country's first mobile-based retail note, a move set to enhance financial inclusion.The retail note, U-Gain, is targeting ordinary Zimb...

By Staff reporter | Published: 14 December 2017

LANDS & AGRICULTURE

Govt targets 350,000t of wheat

GOVERNMENT is targeting 350 000 tonnes of wheat in the next three years to guarantee sufficient domestic wheat supplies and to reduce reliance on imports. Zimbabwe needs about 400 000 tonnes of wheat ...

By Staff reporter | Published: 14 December 2017

TRANSPORT & TOURISM

Duly's expects increase in truck sales

Duly Motors (Duly's) says it expects  to post an increase in truck sales growth this year due to growing local demand for imported commercial vehicles.The company's spokesperson Hope Kemadjou sai...

By Staff reporter | Published: 13 December 2017

MINING & RETAIL

'Mugabe vandalised mining sector'

Former president Robert Mugabe's government presided over moral decay in the once vibrant and productive mining sector, a study has revealed.A comprehensive research contained in a book, recently laun...

By Staff reporter | Published: 13 December 2017

FINANCIAL SERVICES

Doves revels in glory

Funeral services group, Doves Holdings, has been recognised by the Marketers Association of Zimbabwe (Maz) and the Zimbabwe Business Awards for its sterling performance in the country's funeral indust...

By Staff reporter | Published: 13 December 2017

MINING & RETAIL

Mining sector requires $400m next year

Zimbabwe's mining industry requires $400 million to sustain operations next year, almost double the $211 million invested this year.The 2017 mining survey industry report indicates that the anticipate...

By Staff reporter | Published: 13 December 2017
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