FINANCIAL SERVICES

European Investment Bank warms up to Zimbabwe

The European Investment Bank (EIB) has availed about €40m to Zimbabwe banks within a year, which will go towards bailing out the country's SMEs and mid-cap companies, in a vote of confidence in the ...

By Staff reporter | Published: 02 June 2022

ZIMBABWE

Zimbabwe abandons debt relief initiative

The Zimbabwe government has abandoned its plan to access a debt relief facility under the Highly Indebted Poor Countries (HIPC) initiative, meant to resolve its unsustainable debt, Business Times repo...

By Staff reporter | Published: 02 June 2022

ZIMBABWE

Inflationary pressures choke Zimbabwe industry

A rising bout of inflation is posing a severe threat to Zimbabwe's industries amid growing fears most companies will struggle to restock, which could potentially trigger a significant reduction in pro...

By Staff reporter | Published: 02 June 2022

INDUSTRIALS & ENERGY

Cooking oil industry engages RBZ

The cooking oil industry has engaged the Reserve Bank of Zimbabwe (RBZ) to review the weekly allocation of US$500 000 per member at a time when the edible price has more than doubled due to opening up...

By Staff reporter | Published: 02 June 2022

MINING & RETAIL

Lafarge to commission new plant

Listed cement maker, Lafarge Zimbabwe will soon commission a new vertical roller mill plant at its Manresa complex as it seeks to double its output, CEO Godfrey Ndugwa has said.The launch of the verti...

By Staff reporter | Published: 02 June 2022

MINING & RETAIL

Crippling power cuts afflict RioZim

Listed miner, RioZim, has been hit by crippling power cuts adversely impacting on production across all its mining operations. Gold production at Rena) Mine plunged 21% in the quarter to March 31, 202...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Concern over Masvingo black market

The Zimbabwe National Chamber of Commerce (ZNCC) has castigated the emergence of a black market for some basic commodities in the city of Masvingo saying it's adversely affecting operations of superma...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Zimbabwe has sufficient water for winter irrigation

The Zimbabwe National Water Authority (ZINWA) has said the country's dams have sufficient water to meet the winter cropping irrigation needs.ZINWA spokesperson, Marjorie Munyonga told Business Times t...

By Staff reporter | Published: 02 June 2022

INDUSTRIALS & ENERGY

AfDIS completes US$1m cider plant

Listed spirit and winemaker, African Distillers (AfDIS), has completed the construction of its US$1m ciderfermentation plant as it quickens pace to produce ciders locally, Business Times reported.AfDI...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Mixed feelings over produce market

Informal traders in the City of Mutare have raised mixed feelings over the establishment of a produce market in the sprawling suburb of Dangamvura.The Mutare City Council in partnership with Care and ...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Concern over theft, vandalism of bins in Bulawayo

The Bulawayo City Council (BCC) has expressed concern over the sharp increase in the theft and vandalism of its bins.Speaking during a stakeholder meeting in Bulawayo, Ward 12 councillor, Lilian Mlilo...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Outcry over RDC levy

Cattle farmers have raised concern over the exorbitant levy charged by the Rural District Councils (RDC) when selling live cattle to a commercial buyer which has affected their operations.Currently, f...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Call to improve Harare's bad liveability ranking

The city of Harare should work to improve its bad ranking in the liveable index to attain world class city status, Harare Residence Trust director Precious Shumba has said.Harare City Council has been...

By Staff reporter | Published: 02 June 2022

MINING & RETAIL

Zimbabwe govt bails out Hwange

The government has issued US$112m worth of Treasury Bills to settle debts owed by Hwange Colliery Company (HCCL), Business Times reported.Government is the biggest shareholder in HCCL with a 37% stake...

By Staff reporter | Published: 02 June 2022

Nestlé Zimbabwe fosters Agripreneurship

Food and beverages concern, Nestlé Zimbabwe, says its National Dairy Empowerment Scheme (NDES) has evolved to focus on agripreneurship as it seeks to scale up output and build competences in farmers....

By Staff reporter | Published: 02 June 2022

All set for women in PR conference

The Institute of Public Relations and Communication Zimbabwe (IPRCZ) will hold a conference for women in public relations at the end of this month in the capital Harare.Information, Publicity and Broa...

By Staff reporter | Published: 02 June 2022

RBZ US$ surrender component affects Truworths

Listed clothing apparel Truworths' revenue was heavily affected by the Reserve Bank of Zimbabwe (RBZ)'s 20% surrender component which compels the local companies to remit a portion on all local US$ sa...

By Staff reporter | Published: 02 June 2022

Mnangagwa appoints diplomat Faranisi as perm sec

President Emmerson Mnangagwa has appointed Ambassador Tayerera Faranisi as the new permanent secretary in the Ministry of Environment, Climate, Tourism and Hospitality Industry with effect from August...

By Staff reporter | Published: 02 June 2022

Shortage of oil refineries haunts Africa as fuel prices rocket

A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and ca...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Zimdollar strengthens against the real US dollar

The local currency appreciated for the first time against the US dollar after it firmed a marginal 0.094% to 83.3209 from 83.3994. This followed a drop in both the highest and lowest bids to 87.5 and ...

By Staff reporter | Published: 01 September 2020

ZIMBABWE

SecZim licences VFEX

The Securities and Exchange Commission of Zimbabwe has licenced the Victoria Falls Stock Exchange paving way for its scheduled opening. The VFEX will become the country's second stock exchange as...

By Staff reporter | Published: 01 September 2020

ZIMBABWE

Seedco seeks to merge Zimbabwe operations for secondary listing

Pursuant to the proposal to transfer the ZSE Secondary Listing of Seed Co International Limited from the ZSE to the soon to be established VFEX, a proposal to merge the Zimbabwean operations, held und...

By Staff reporter | Published: 01 September 2020

BUSINESS NEWS

Concerns that informal market may mop up US$ as parallel rates creep up

Industry is yet to gather data on how much sales are being generated in foreign currency although there is an increase in the use of domestic nostro accounts to settle transactions as RTGS liquidity b...

By Staff reporter | Published: 01 September 2020

LANDS & AGRICULTURE

Milk production in July increases 5%

Milk production increased 4.84% in July to 6.5 million litres which is two thirds of the country's monthly requirements of 10 million litres. According to the latest Zimbabwe Dairy Services stati...

By Staff reporter | Published: 01 September 2020

ZSE TODAY

Stocks back in negative territory on Simbisa, Innscor

The stock market made a marginal swing back to negative territory weighed down by losses in Simbisa and Innscor although the market breadth was positive, as stocks remain a safe haven in this crisis p...

By Staff reporter | Published: 22 April 2020
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