BUSINESS NEWS

North Korea links haunt Zimbabwe firm

CONTROVERSY surrounds local company Mansudae Boka Designs Private Limited's trade activities, amid reports it may be linked to North Korean company - Mansudae Overseas Project (MOP) Group of Companies...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Zimbabwe desperate for foreign investors

ZIMBABWE'S approved potential investment projects more than doubled to nearly US$1 billion this year from US$451 million last year, although the majority have not taken off amid concerns that investor...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Padenga interim net income doubles

Listed crocodile skin producer Padenga Holdings has reported a 100 percent rise in net income to $4, 05 million from $2 million in the half-year period to June 30, 2017, from the prior comparable peri...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Zim launches Customer Satisfaction Index

THE Chartered Institute of Customer Management (CICM) has launched Zimbabwe's first of its kind Customer Satisfaction Index.An Executive Breakfast meeting has been penciled for the 4th of October 201...

By Agencies | Published: 22 September 2017

BUSINESS NEWS

Zim businesses invited to Indonesia trade expo

Indonesia has invited Zimbabwean businesspeople to participate at next month's 32nd Trade Expo Indonesia in Jakarta, where over 300 internationally-acclaimed local products will be showcased. Indonesi...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Axia's revenue up 26%

Listed Axia Corporation Limited has reported a 26 percent increase in revenue to $248.3 million in the year to June 20, 2017 from $197.5 million reported in the prior year. This resulted in a 10.8 per...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Airport experience 35% uptick in traffic

The recently-commissioned $150 million Victoria Falls International Airport has experienced a 35% increase in passenger traffic within a few months of its launch, an official has said. Civil Aviation...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Bulawayo council drowns in debt

Bulawayo City Council (BCC) is in a serious financial crisis amid indications that the local authority is failing to service a debt of over $168 million, a development that has deeply affected service...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

IPEC wants $1bn fixed asset securities tradable

Ipec wants insurance companies and pension funds with over $1 billion invested in fixed properties to invest on secondary markets to ensure tradability of fixed income securities for liquidity that de...

By Staff reporte | Published: 22 September 2017

BUSINESS NEWS

CAAZ unbundling under threat

Caaz into regulatory and operational entities which was scheduled to be completed by the end of this year is facing fresh challenges amid indications that senior management at the State entity are scu...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Ministers' wings clipped

Ministers and permanent secretaries will have their wings clipped when the Public Entities Corporate Governance Bill becomes law, amid indications they will no longer hire and fire parastatal boards w...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Zimbabwe faces new fuel shortages

ZIMBABWE'S fuel supplies have dwindled to alarming levels due to a weakening economy and acute foreign currency shortages despite interventionist measures by the Reserve Bank of Zimbabwe (RBZ).This co...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Reprieve for pharmaceutical exporters

As part of the ongoing Ease of Doing Export Business - Rapid Results Initiative (RRI), the Medicines Control Authority of Zimbabwe (MCAZ), through the Ministry of Health and Child Care recently reduce...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Zimra slept on the job on fiscalisation'

'The Zimbabwe Revenue Authority (Zimra) says it did not go full throttle on the implementation of the fiscalisation programme when it was introduced seven years ago. 'The programme was meant to minimi...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

10 mergers, acquisitions approved

THE Competition and Tariff Commission (CTC) has approved 10 mergers and acquisitions in the first six months of 2017 supporting the survival of local companies.Most of the transactions approved by the...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

CTC calls for beef industry policy

THE Competitions and Tariff Commission has recommended the formulation of a beef industry policy for the entire value chain to address a myriad of problems in the sector, chief among them price collus...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

RBZ to pay Eskom $32m to avoid power cuts

The Reserve Bank of Zimbabwe (RBZ) will pay $32 million to South Africa power utility, Eskom to ensure continuous power supply to Zimbabwe.ZESA Holdings is complementing its power supplies by importin...

By Staff reporter | Published: 21 September 2017

BUSINESS NEWS

Zimbabwe, SA work on pension portability policy

ZIMBABWE is in talks with South Africa to put in place a framework which will allow its citizens working in the neighbouring country to repatriate their pensions upon their return home, an official ha...

By The Source | Published: 21 September 2017

BUSINESS NEWS

KPMG warns firms over accounting regulations

Audit and advisory firm, KPMG Zimbabwe last week warned that companies should analyze their contracts ahead of the introduction of new revenue according to standards, known as the International Financ...

By Staff reporter | Published: 21 September 2017

BUSINESS NEWS

Court annuls NSSA bank takeover

The High Court yesterday nullified transactions made by three former RFHL directors after they were fired in 2012 effectively reversing the NSSA's controversial acquisition of the financial institutio...

By Staff reporter | Published: 21 September 2017

BUSINESS NEWS

Asian giants make advance bookings for ZITF 2018

INDIAN and Chinese businesses have made advance bookings for the 2018 edition of the Zimbabwe International Trade Fair (ZITF), with organisers saying they are targeting Asian representation for the fa...

By Staff reporter | Published: 21 September 2017

BUSINESS NEWS

Zimra upgrades customs data system

THE Zimbabwe Revenue Authority (Zimra) has upgraded its Automated System for Customs Data (Asycuda) World to stamp out inherent system challenges associated with the current version.The system streaml...

By Staff reporter | Published: 21 September 2017

BUSINESS NEWS

'RBZ in weekly forex allocation'

THE Confederation of Zimbabwe Industries (CZI) has said the central bank will be releasing foreign exchange under the $600 million nostro stabilisation facility on a weekly basis, which is expected to...

By Staff reporter | Published: 21 September 2017

BUSINESS NEWS

Zim shelves Botswana pipeline sharing deal

ZIMBABWE has effectively shelved plans to extend its Feruka pipeline to Francistown, Botswana, citing viability concerns over the project, an official has said.The deal had been proposed in attempt to...

By Staff reporter | Published: 21 September 2017

BUSINESS NEWS

Man sues bus company over wife's death

A MASVINGO man has filed a $500 000 lawsuit against the owners of King Lion Motors following the death of his wife in an horrific accident involving one of the company's buses near Nyamakate in Hurung...

By Staff reporter | Published: 21 September 2017
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