INDUSTRIALS & ENERGY

Foreign currency shortages derail Paramount Garments

LEADING textile firm, Paramount Garments' exports have dropped by 14 percent while prospects of growing its Bulawayo clothing manufacturing unit, Archer Clothing Manufacturers are in limbo due to adve...

By Staff reporter | Published: 06 October 2019

TRANSPORT & TOURISM

Unifreight slams brakes on foreign borrowings

TRANSPORT and Logistics concern, Unifreight Africa Limited's chairman Peter Annesley says the company is going to limit foreign borrowings to minimise offshore liabilities in light of the exchange rat...

By Staff reporter | Published: 04 October 2019

POLITICS

Another foreign trip for Mnangagwa

President Mnangagwa will join fellow Heads of State and Government here for the Extraordinary African Union Summit (AU) which starts today. The summit, which is running under the theme: "Refugees, Ret...

By Staff reporter | Published: 05 July 2019

BUSINESS NEWS

Zimbabwe Investment Development Bill softens up on foreign investors

THE Zimbabwe Investment Development Bill (Zida), currently in its second reading stage in the National Assembly, will soften up on foreign investors and treat them in the same way that Zimbabwean inve...

By Staff reporter | Published: 20 June 2019

BUSINESS NEWS

Pension payouts delayed as foreign company cuts off Zimbabwe banks

PENSIONERS might have to wait a bit longer before they receive their monthly pay outs, which were due yesterday, the National Social Security Authority (NSSA), said yesterday. It said the delay was ca...

By Staff reporter | Published: 14 June 2019

ZIMBABWE

ZSE in foreign currency headache

THE Zimbabwe Stock Exchange (ZSE) is now looking at collaborating with other bourses in order to assist distressed firms raise foreign currency as forex shortages worsen in the country.Foreign investo...

By Staff reporter | Published: 03 May 2019

ZIMBABWE

Foreign investors threaten ZSE pullout

The inability by foreign investors to repatriate capital and disinvestment proceeds from the country is hampering the performance of the Zimbabwe Stock Exchange, amid reports custodians are threatenin...

By Staff reporter | Published: 03 May 2019

INDUSTRIALS & ENERGY

Fertiliser manufacturers to engage RBZ over foreign currency support

GOVERNMENT has been called upon to channel foreign currency towards the manufacturer of fertlisers in order to preserve jobs and prevent damage to soil by imported chemicals.This came out in a stateme...

By newzimbabwe | Published: 24 April 2019

FINANCIAL SERVICES

Agribank targets $50m in foreign credit lines

AGRIBANK is targeting between US$40 million and US$50 million in fresh lines of credit from international financial institutions for on-lending to exporters, the bank's chief executive Sam Malaba has ...

By Staff reporter | Published: 24 April 2019

FINANCIAL SERVICES

Untu Capital foreign backers withdraw support

African Guaranteed Fund (AGF), the foreign backers of Untu Capital's bond issue, have withdrawn their support to the microfinance company citing Zimbabwe's current unpredictable economic environment, ...

By Staff reporter | Published: 06 February 2019

BUSINESS NEWS

Foreign drug manufacturers cut off supplies to Zimbabwe

THE pharmaceutical sector in Zimbabwe owes foreign suppliers more than $39 million for imported raw materials as well as finished products, resulting in supplies to the southern African country being ...

By Staff reporter | Published: 25 January 2019

TELECOMS & TECHNOLOGY

Zimbabwe start-up targets foreign market

A Zimbabwean start-up, Flexi Africa, has set up an online trade platform which links local vendors to international markets.Flexi Africa chief executive Gerald Nyamadzawo told Standardbusiness that th...

By Staff reporter | Published: 23 December 2018

BUSINESS NEWS

Foreign-based motorists urged to use eTIP facility

MOTORISTS using foreign registered vehicles in the country should use the electronic temporary import permit (eTIP) facility to avoid delays at ports of entry, the Zimbabwe Revenue Authority's Customs...

By Staff reporter | Published: 19 December 2018

TELECOMS & TECHNOLOGY

Potraz breaks foreign networks dominance

THE growing network infrastructure investment in previously unserved areas by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has increased connectivity in the country. The...

By Staff reporter | Published: 17 December 2018

MINING & RETAIL

PPC hit hard by foreign currency crisis

PPC Zimbabwe Ltd is stuck with R896 million (US$64,2 million) due to its parent company after the local company failed to remit rights issue proceeds and other amounts due to the Johannesburg Stock Ex...

By Staff reporter | Published: 30 November 2018

POLITICS

Foreign currency shortage triggers Zimbabwe passports backlog

REGISTRAR-GENERAL (RG) Clemence Masango yesterday said his department had a backlog of 170 000 passports, which has accumulated since May, and requires additional foreign currency to speed up the proc...

By Staff reporter | Published: 28 November 2018

TRANSPORT & TOURISM

African Sun euphoric about conferencing, foreign visits

AFRICAN Sun Limited (ASL) has announced it will spend $2,1 million in the last quarter of 2018 on refurbishments to improve standards of its hotels and boost occupancy in the future.Africa Sun plans t...

By Staff reporter | Published: 10 September 2018

INDUSTRIALS & ENERGY

Govt blames fuel crisis on foreign currency shortages

ENERGY minister Simon Khaya Moyo yesterday blamed the crippling fuel shortages being faced by the nation on late foreign currency allocation and ethanol shortage.Khaya Moyo told journalists in Bulaway...

By Staff reporter | Published: 27 July 2018

BUSINESS NEWS

Mnangagwa tells Delta to explore foreign markets

PRESIDENT Emmerson Mnangagwa has encouraged Delta Corporation Limited to explore the export market and also consider investing into the regional market to help secure foreign currency for the country....

By Staff reported | Published: 24 July 2018

ZIMBABWE

Foreign investors chase after Old Mutual shares

FOREIGN investors were net buyers of $13 million shares on the Zimbabwe Stock Exchange (ZSE) in June, with particular interest in Old Mutual Limited.According to figures from the ZSE, foreign purchase...

By Staff reporter | Published: 23 July 2018

BUSINESS NEWS

Net foreign currency inflows surge

ZIMBABWE'S net foreign currency inflows surged over 1 700 percent to $192,4 million in the first quarter, buoyed by tobacco earnings, latest central bank data indicates.As Society for Worldwide InterB...

By Staff reporter | Published: 23 July 2018

ZIMBABWE

Foreign investors spend $104m on ZSE

Zimbabwe Stock Exchange hitting a new low key indicators of the worsening economic crisis.FOREIGN investors spent $104 million in the five months to May 2018 from $21 million in the same period last y...

By Staff reporter | Published: 13 July 2018

POLITICS

Foreign help urged in blast probe

A GROUP of non-aligned war veterans have called on the government to rope in international forensic investigators to assist local police in probing the explosion that rocked the White City Stadium in ...

By Staff reporter | Published: 29 June 2018

POLITICS

Foreign currency crisis adds to Harare's refuse woes

HARARE mayor Bernard Manyenyeni yesterday said foreign currency shortages had hampered the local authority's plans to buy additional refuse collection trucks.Manyenyeni told NewsDay that they had so f...

By Staff reporter | Published: 26 June 2018

BUSINESS NEWS

Foreign investors in renewed confidence

FOREIGN investors have renewed their buoyancy in the country's economic policies which has resulted in them channelling funds to assist in various developmental programmes as they feel their investmen...

By Staff reporter | Published: 24 June 2018
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