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BUSINESS NEWS

Forex dealers get free rein

The Zimbabwe Republic Police says it is finding it difficult to bring cash vendors to book because there is need for an officer of the law to witness an illegal transaction before effecting an arrest....

By Staff reporter | Published: 17 January 2018

BUSINESS NEWS

Forex shortages to persist until March

Zimbabwe's debilitating foreign currency crisis will persist until the tobacco selling season begins in March, the Reserve Bank of Zimbabwe he said. RBZ financial markets deputy director William Manhi...

By Staff reporter | Published: 17 January 2018

POLITICS

Simba Makoni dumped

Mavambo/Kusile/Dawn (MKD) leader Simba Makoni has been dumped by some of his senior officials who described him as a failed politician.The officials, who have since formed their own party - Democratic...

By Staff reporter | Published: 17 January 2018

BUSINESS NEWS

Zim investment indaba set for SA

Financial markets experts, investors and executives from various industries will descend on Johannesburg in March for the fifth Financial Markets Indaba. The one-day gathering which is scheduled for S...

By Staff reporter | Published: 17 January 2018

ZSE TODAY

Market Commentary 16 January 2018

Turnover closed at $1.3 million on Tuesday on the Zimbabwe Stock Exchange after the usual suspects on the heavyweight counters recorded some trades. The $1.306 turnover was realised from the sale of a...

By Staff reporter | Published: 16 January 2018

BUSINESS NEWS

Bitcoin tumbles as digital coins resume slide

Hong Kong - Bitcoin slumped as much as 20%, giving more impetus to a January selloff in cryptocurrencies, after South Korea's finance minister repeated that the country may ban trading in one of the w...

By Bloomberg | Published: 16 January 2018

BUSINESS NEWS

Exclusive courts to try graft cases

The Judicial Service Commission (JSC) is establishing specialised anti-corruption courts throughout the country so that justice is expeditiously served on perpetrators of graft.The first two such cour...

By Staff reporter | Published: 16 January 2018

MINING & RETAIL

Mugabe to be grilled over missing $15 billion

FORMER President Robert Mugabe is set to appear before Parliament to expand on the allegations he made in 2016 that $15 billion worth of diamond revenue went missing.The issue came out yesterday in Pa...

By Staff reporter | Published: 16 January 2018

INDUSTRIALS & ENERGY

Tongaat Hulett to pay staff bonuses

SUGAR producer, Tongaat Hulett Zimbabwe has resolved to pay bonuses to its workers.This is despite the fact that the company has been entangled in labour disputes which saw massive strikes that affect...

By Staff reporter | Published: 16 January 2018

BUSINESS NEWS

Govt to craft SI on indigenisation changes

GOVERNMENT is working on crafting legislative provisions to clarify changes to the Indigenisation and Economic Empowerment Act.Recently, President Emmerson Mnangagwa announced that the Indigenisation...

By Staff reporter | Published: 16 January 2018

BUSINESS NEWS

ZRP regularly conduct lifestyle audits

The Zimbabwe Republic Police (ZRP) regularly conducts lifestyle audits among its officers to curb corruption within its rank and file, a senior police officer has said.Speaking at the 100-Day Quick Wi...

By Staff reporter | Published: 16 January 2018

BUSINESS NEWS

Civil servants January pay dates out

THE Government has released civil servants pay dates for this month with all the sectors expected to receive their salaries by January 30.Civil servants yesterday hailed the Government for proposing t...

By Staff reporter | Published: 16 January 2018

POLITICS

'No victimisation in corruption arrests,' claims Charamba

INVESTIGATORS handling corruption cases must follow due process and be thorough so that cases do not collapse in court due to lack of evidence, a senior Government official has said.Information, Media...

By Staff reporter | Published: 16 January 2018

MINING & RETAIL

Blanket Mine produces record 56 000 ounces

GWANDA-BASED gold mining concern, Blanket Mine last year achieved a record production of 56 135 ounces, a figure higher than the firm's production guidance of 56 000 ounces.In a statement, the gold mi...

By Staff reporter | Published: 16 January 2018

MINING & RETAIL

Zim diamond industry targets 4,6 million carats

The diamond sector is targeting to produce a combined output of 4,6 million carats in 2018 after setting aside an investment envelope of $130 million in an effort to increase production.The target com...

By Staff reporter | Published: 16 January 2018

MINING & RETAIL

Mahomed Mussa denies cash stashing allegations

Mahomed Mussa, arguably one of Zimbabwe's largest wholesalers, has denied allegations it stashes cash "under the pillow," saying it deposits its cash with local banks in line with the country's moneta...

By Staff reporter | Published: 16 January 2018

FINANCIAL SERVICES

'Bank deposits up'

The number of people making bank deposits has increased significantly in the past three weeks, President Emmerson Mnangagwa has said.The Head of State and Government said a banking culture is importan...

By Staff reporter | Published: 16 January 2018

INDUSTRIALS & ENERGY

Delta revenue jumps 24%

DELTA Corporation says revenue jumped 24 percent for the quarter to December 31, 2017 and 9 percent for the nine months due to strong demand on renewed hope of economic recovery after political change...

By Staff reporter | Published: 16 January 2018

BUSINESS NEWS

Zim revises visa regime

Zimbabwe is planning to revise its visa policy to help attract more tourists, trade and investment into the country. Immigration Department principal Clemence Masango said government is working on mea...

By Staff reporter | Published: 16 January 2018

INDUSTRIALS & ENERGY

David Whitehead to re-open after $2m govt injection

Government has injected $2 million into David Whitehead to resume operations. David Whitehead, a large textile firm that used to employ 2 500 people in Chegutu, 100km southwest of Harare, collapsed in...

By Staff reporter | Published: 16 January 2018

BUSINESS NEWS

Govt revives Zimbabwe-Zambia railway line plans

Transport and Infrastructural Development minister Joram Gumbo has said the government is reviving plans to construct the Lions Den-Kafue, Zambia, railway line, which was mooted in 1980.Gumbo laid out...

By Staff reporter | Published: 16 January 2018

FINANCIAL SERVICES

Nicolaas Kruger 'steps down' at MMI Holdings

The Board of MMI Holdings has announced that Nicolaas Kruger will be stepping down as CEO of MMI Holdings with effect from 15 February 2018. This decision comes after a few months of discussions betw...

By MMI | Published: 17 January 2018

FINANCIAL SERVICES

Time Bank turns heat on Gono

Time Bank will let bygones be bygones provided the Reserve Bank of Zimbabwe (RBZ) honours its side of the bargain, but has turned the heat on former governor Gideon Gono for the manner in which he han...

By Staff reporter | Published: 16 January 2018

BUSINESS NEWS

Davos meeting on next week

World countries need to decide how best to respond to the emergence of the Fourth Industrials Revolution vis-à-vis their national strategies and their ambition to leverage production as a national ca...

By Staff reporter | Published: 16 January 2018

MINING & RETAIL

Caledonia gold production rises 11,4% in 2017

CALEDONIA Mining Corporation Plc has achieved a full year gold production of 56 135 ounces (1,59 tonnes), up 11,4% from the 2016 output despite a slow production in the first half of 2017, the company...

By Staff reporter | Published: 16 January 2018

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