BUSINESS NEWS

Govt 300% fee hike irks industry

The government would to increase statutory fees for the mining sector by almost 300% in a move that has raised the ire of mining representative bodies.Application fees for platinum and chrome (ordinar...

By Staff reporter | Published: 05 May 2019

LANDS & AGRICULTURE

Schweppes' tomato business teetering

BEVERAGES maker Schweppes Zimbabwe Limited's (SZL) newly introduced tomato business is struggling to find its feet due to lack of competitiveness.SZL commercial and public affairs director Mrs Unaiswi...

By Staff reporter | Published: 05 May 2019

LANDS & AGRICULTURE

Belarus to set up state-of-the-art dairy facility in Zimbabwe

BELARUS has set sights on establishing a state-of-the-art dairy facility in Zimbabwe as part of efforts to improve milk production in the country.Lands, Agriculture, Water, Climate and Rural Resettlem...

By Staff reporter | Published: 05 May 2019

LANDS & AGRICULTURE

Mashonaland hay for drought affected areas

EFFORTS are being made to move hay from Mashonaland region to the southern part of the country so as to save livestock in these areas from succumbing to the effects of drought, an official said.Agricu...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Industry embraces Cabinet’s forex decision

INDUSTRIALISTS have embraced Cabinet's decision to craft measures that would see manufacturers being allocated foreign currency to procure key raw materials to reduce the cost of production and conseq...

By Staff reporter | Published: 05 May 2019

TRANSPORT & TOURISM

Embraer delivery marks Air Zimbabwe revival

THE delivery of the Embraer ERJ-145 last week, with two more Embraers and two Boeing 777-200ERs set to join the fleet this year, marks a major milestone in the revival of Air Zimbabwe, and crucially, ...

By Staff reporter | Published: 05 May 2019

MINING & RETAIL

New dawn in chrome sector

Zimbabwe is targeting exponential growth in the production of ferrochrome and will leverage this on the International Chrome Development Association (ICDA) conference starting today until Thursday thi...

By Staff reporter | Published: 05 May 2019

FINANCIAL SERVICES

CBZ records strong earnings

CBZ Holdings Ltd reported seemingly strong earnings and made it rain for investors but the currency situation did not play in favour of the financial services group.A quick analysis of the December 20...

By Staff reporter | Published: 03 May 2019

CONSTRUCTION & PROPERTY

Lafarge Zimbabwe acquires US$30 million loan

LAFARGE Cement Zimbabwe has obtained a long-term US$30 million facility to enable settlement of outstanding obligations.In its audited results for the year ended December 31 2018, the cement manufactu...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

ZB's TB holdings up 25%

Half of ZB Financial Holdings Ltd's Treasury Bills (TBs) will mature in the current financial year and the institution will increase its stock of the paper as it becomes available, chief executive Ron...

By Staff reporter | Published: 03 May 2019

MINING & RETAIL

Edgars sales decline

CLOTHING retail outlet Edgars Stores Ltd suffered a decline in sales in the last quarter of 2018 due to the currency volatility rocking the market.The announcement by the Reserve Bank of Zimbabwe on O...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

Ecobank doubles full-year income

ECOBANK doubled its full-year earnings to December 2018 thanks to increased investments in fixed income securities, fee and commission income and net foreign exchange income.Interest and similar incom...

By Staff reporter | Published: 03 May 2019

TRANSPORT & TOURISM

Meikles to sell hospitality assets

MEIKLES Limited is seeking approval from its shareholders to sell part of its hospitality assets. In a cautionary statement, Miekles company secretary Thabani Mpofu said talks of the asset disposal we...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

StanChart scales down in Zimbabwe

STANDARD Chartered has retrenched more than 100 employees with more lay-offs planned as the bank has begun outsourcing some of its operations in Zimbabwe to countries such as Kenya, Malaysia, China an...

By Staff reporter | Published: 03 May 2019

INDUSTRIALS & ENERGY

Delta to revive malt exports as forex shortages continue to bite

Delta Corporation has invested close to US$4m in its barley contract-farming scheme, targeting a yield of 35,000 metric tonnes this year and with an objective of earning foreign currency from malt exp...

By Staff reporter | Published: 03 May 2019

MINING & RETAIL

Makomo Resources seeks US greenlight

COAL miner Makomo Resources says its output could increase significantly if the government allows the company to retain 100% of the revenue generated from exports.Director Raymond Mutokonyi told busin...

By Staff reporter | Published: 03 May 2019

TELECOMS & TECHNOLOGY

Strive Masiyiwa pockets $100m in dividends

STRIVE Masiyiwa has pocketed close to US$100 million as dividend payouts from his investment in Econet Wireless Zimbabwe (EWZ) since 2009, businessdigest has established.According to Econet Wireless Z...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Sanitary wear firm sets up shop in Bulawayo

A CHINESE owned company, Tiens International Group, plans to open a new sanitary wear plant in Bulawayo, whose products they claim have reproductive system healing qualities.  The firm participat...

By Staff reporter | Published: 03 May 2019

LANDS & AGRICULTURE

Zimbabwe strikes US$2m agric deal with Japan

Zimbabwe has entered into a US$2 million agreement with Japan, targetted at smallholder agriculture as part of efforts to revive the sector.The Zimbabwe Smallholder Horticulture Empowerment and Promot...

By Staff reporter | Published: 03 May 2019

CONSTRUCTION & PROPERTY

Lafarge emerges from loss position to post US$1,3m profit

Lafarge Cement Zimbabwe Limited reversed its prior year-after-tax loss of US$0,6 million to a profit margin of US$1,3 million in the year-ended December 31, 2018, driven by growth in revenue and an e...

By Staff reporter | Published: 03 May 2019

MINING & RETAIL

Prospect considering Arcadia project financing options

PROSPECT Resources (Prospect) says it is currently reviewing multiple financing strategies for its Arcadia lithium project in Zimbabwe.The project is one of the largest hard-rock lithium resources in ...

By Staff reporter | Published: 03 May 2019

CONSTRUCTION & PROPERTY

PPC to invest dividends in govt bonds

CEMENT producer PPC Zimbabwe has, in the last five years, spent over US$140 million in plant refurbishments and it aims to invest some of its dividends in government bonds to increase local procuremen...

By Staff reporter | Published: 03 May 2019

CONSTRUCTION & PROPERTY

Larfarge projects high cement demand

LAFARGE Cement Zimbabwe has projected high demand for cement in the country this year on the back of growing housing developments despite rising inflationary pressures.  In a statement accompanyi...

By Staff reporter | Published: 03 May 2019

LANDS & AGRICULTURE

900 white Zimbabwe farmers register for compensation

AT least 900 white former commercial farmers who lost land during the country's agrarian reform have registered for compensation as Government intensifies efforts to pay them for improvements they mad...

By Staff reporter | Published: 03 May 2019

INDUSTRIALS & ENERGY

Lancashire Steel deal collapses

A DEAL in which Indian firm, Whinstone Enterprises, was set to pour in funding into Lancashire Steel in a joint venture arrangement, has crumbled after the firm failed to follow laid down Government p...

By Staff reporter | Published: 03 May 2019
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