BUSINESS NEWS

'Zisco demise costing Zimbabwe US$400m annually'

ZIMBABWE is losing about US$400 million annually through importing steel and related products since the collapse of Zisco in the last decade, Industry and Commerce Minister, Mangaliso Ndlovu, has said...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

'Project delays costing RG’s Office'

THE Registrar-General (RG)'s Office has been incurring huge costs for unfinished district registry office projects, whose prices have since doubled or trebled due to late implementation.This was revea...

By Staff reporter | Published: 12 July 2019

BUSINESS NEWS

Tax scam costs Govt billions

Some players in the garment-making sector are allegedly skimming the Government of billions of dollars in potential tax revenue and suffocating downstream textile industries by abusing a special cloth...

By Staff reporter | Published: 10 July 2019

POLITICS

Chiefs urge Mnangagwa to urgently address rising cost of living

CHIEFS in the Midlands and Matabeleland regions have called on President Emmerson Mnangagwa to urgently address the rising cost of living, including sharp increases in food insecurity.Mnangagwa met ch...

By Staff reporter | Published: 01 July 2019

LANDS & AGRICULTURE

Cyclone Idai costs Ariston Holdings US$1,5 million in damages

ARISTON Holdings Limited (AHL) says Cyclone Idai damaged the company's plantations in the Eastern Highlands, with early indications suggesting that the damage could be worth US$1,5 million."In March 2...

By Staff reporter | Published: 14 June 2019

INDUSTRIALS & ENERGY

Government retires Ziscosteel board

DEFUNCT steel manufacturer, Ziscosteel, is set to get a new board of directors after Government retired the entire old board that had been in office for more than a decade. Industry and Commerce Minis...

By Staff reporter | Published: 14 June 2019

BUSINESS NEWS

Brexit no deal could cost Zimbabwe US$4,6 million

ZIMBABWE stands to lose at least 5% of its yearly exports to the United Kingdom in the case of Britain leaving the European Union without a deal, a new United Nations agency report has shown.According...

By Staff reporter | Published: 05 May 2019

BUSINESS NEWS

Cost of dying goes up in Zimbabwe

A NEW wave of price increases has seen hard-pressed Zimbabweans grappling with counting the cost of dying.Funeral insurance companies, hit by a failing local currency, have joined the bandwagon by inc...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

ZB adjusts housing project costs

ZB Financial Holdings Limited (ZBFH) is making pricing adjustments for its Plumtree housing project due to cost escalations, chief executive Ron Mutandagayi has said."The cost escalations have caused ...

By Staff reporter | Published: 04 February 2019

BUSINESS NEWS

Internet shutdown costs govt millions of dollars

THE government lost millions of dollars through delayed revenue inflows due to the slow processing of imports and exports after the switching off internet services countrywide.Government threw the cou...

By Staff reporter | Published: 20 January 2019

TELECOMS & TECHNOLOGY

Vandalism costs TelOne

DIVERSIFIED telecommunications firm, TelOne, has lost over US$3 million in the 10 months to October this year due to vandalism of network infrastructure.Of the US$3 million, US$2, 2 million was in los...

By Staff reporter | Published: 23 December 2018

BUSINESS NEWS

Cost of living up 4,6%

THE month-on-month cost of living increased by 4,6 percent to $697,76 last month from $666,93 in October on the back of negative macro-economic pressures characterised among others by financial market...

By Staff reporter | Published: 10 December 2018

TELECOMS & TECHNOLOGY

'Zimbabwe telecoms investment costs drop 35%'

ZIMBABWE's infrastructure sharing model has yielded up to 35 percent drop in the cost of investment in the information and telecommunications sector, which will largely benefit ordinary consumers and ...

By Staff reporter | Published: 10 December 2018

OPINION

MDC - Zanu-PF talks would cost Mnangagwa the economy

The unwelcome subject of another unity government keeps being foisted on Zimbabweans by the distractive opposition MDC-Alliance of Nelson Chamisa.  It makes no difference that they want to disgui...

By Staff reporter | Published: 10 December 2018

BUSINESS NEWS

Homelink unveils 68 low-cost houses

Reserve Bank of Zimbabwe Deputy Governor Dr Kupukile Mlambo last week commissioned 68 of 329 low-cost houses that were built by Homelink Finance in Brockdale, Bindura, for low-income earners. Dr Mlamb...

By Staff reporter | Published: 28 November 2018

BUSINESS NEWS

Negligence costs Parirenyatwa Hospital $27 000

NEGLIGENCE by doctors at Parirenyatwa Group of Hospitals which resulted in a patient suffering a bile leak has proved costly after the High Court ordered the public institution to pay damages amountin...

By Staff reporter | Published: 28 November 2018

BUSINESS NEWS

Inept bosses cost Zinara US$200m

The Zimbabwe National Road Administration (Zinara) has suffered a financial loss in excess of US$200 million due to incompetence and lack of expertise by its senior managers to negotiate contracts ben...

By Staff reporter | Published: 19 November 2018

MINING & RETAIL

'Coal-bed methane exploitation to reduce AN costs'

The cost of Ammonium Nitrate (AN) fertiliser, which is largely on the upper side in the country mainly due to high costs of the major component, ammonia, is set to come down once coal - bed methane ga...

By Staff reporter | Published: 07 September 2018

MINING & RETAIL

New mining status costs Zimplats

ZIMPLATS, the country's largest platinum miner, says its profits declined by 94 percent in the year to June 2018 after the company changed its status from a special mining lease (SML) holder to mining...

By Staff repporter | Published: 06 September 2018

FINANCIAL SERVICES

Low-cost bank accounts up 143%

Zimbabwe's low cost bank accounts have grown by 143 percent to 3,16 million in the first quarter of 2018, according to figures from the Reserve Bank of Zimbabwe (RBZ). The figure represents 57 percent...

By Staff reporter | Published: 25 July 2018

BUSINESS NEWS

'Review of taxes, utility costs'

THE change in the indigenisation laws and the ongoing ease of doing business reforms should be complemented with a deliberate review of taxes and utility costs, which continue to frustrate domestic pr...

By Staff reporter | Published: 18 July 2018

POLITICS

Zec must avoid costly poll rigging antics

REPORTS that independent biometric voter registration (BVR) and data science experts analysing the voters' roll have unearthed a suspected loophole that could have a negative effect on the credibility...

By Staff reporter | Published: 13 July 2018

FINANCIAL SERVICES

Banks set to cut transaction costs

The cost of mobile and internet-based financial services is set for a significant drop after Government directed that the charge for Unstructured Supplementary Service Data (USSD), the technology plat...

By Staff reporter | Published: 21 June 2018

TELECOMS & TECHNOLOGY

Zimbabwe slashes mobile data costs significantly

Mobile data tariffs in Zimbabwe have fallen from 12.5 cents to 5 cents per MB, with the internet expected to play a key role ahead of harmonised elections slated for July 30 this year.The Posts and Te...

By Staff reporter | Published: 20 June 2018

INDUSTRIALS & ENERGY

Ziscosteel requires $1bn to kickstart operations

PARLIAMENT has recommended that the country's rail system should be repaired to enable transportation of coal supplies to companies such as Ziscosteel.This came out in a report on Ziscosteel which was...

By Staff reporter | Published: 15 June 2018
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