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 ...

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...

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...

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...

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...

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...

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....

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...

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...

LANDS & AGRICULTURE

Zimbabwe writes off 106 520ha of maize due to dry weather spell

The Ministry of Agriculture is pursuing crop diversification in order to spread the risk of crop failure after the prolonged dry spells experienced in the 2019/2020 season led to low area planted and ...

TELECOMS & TECHNOLOGY

Ralph Mupita paid R66.3 million by MTN for 2019

MTN has published its integrated report for 2019, showing what its top executives were paid in the last year.MTN group chief financial officer, Ralph Mupita, took home the largest salary at the group ...

INDUSTRIALS & ENERGY

Willdale sales volumes in 5 months to Feb grow 10%

Willdale says sales volumes in the five months to February are 10% above prior year while profitability in the period has grown above the inflation rate due to an effective pricing mechanism and cost ...

LANDS & AGRICULTURE

RBZ maintains 50% USD retention for tobacco farmers

The Reserve Bank of Zimbabwe and the Tobacco Industry Marketing Board have announced payment modalities to tobacco farmers although failing to meet all of the demands, which had been put forward by th...

TELECOMS & TECHNOLOGY

Econet hikes data tarrifs by 23%

Econet Wireless on Wednesday raised its data prices by 23 percent, as the Zimbabwe dollar continues its slide.According to ZimTechreview, the company said its voice tariffs remained unchanged.Econet, ...

CONSTRUCTION & PROPERTY

Lafarge to double capacity after launching US$25m expansion project

Lafarge has budgeted US$25 million for its expansion project which will double capacity by year-end 2022.  The expansion plan kicked off this morning at a ground-breaking ceremony for a Dry Morta...

INDUSTRIALS & ENERGY

Delta lager volumes decline 40%

Delta Corporation reported a 40% decline in lager beer volume in the second quarter to September 30, a performance reminiscent of 2016 where volumes were on a free-fall. This comes as pricing issues c...

TRANSPORT & TOURISM

Air Zimbabwe resumes S.Africa flight after settling debt

State-owned Air Zimbabwe's only serviceable plane was stopped from leaving Johannesburg last week after failing to pay for airport services.South Africa has reinstated permission for Zimbabwe's natio...

FINANCIAL SERVICES

Bank cards crime soars

AS THE country's economic rot continues to deepen, police are warning the public about a sharp increase in crime relating to bank cards. This comes as Zimbabwe continues to experience serious shortage...

MINING & RETAIL

Tharisa Zimbabwe asset gets Special Economic Zone status

Tharisa PLC on Tuesday said land on which it has special mining grants in Zimbabwe has been designated a special economic zone.A 50,667-hectare area has been given the designation, miner Tharisa said,...

TELECOMS & TECHNOLOGY

NetOne records growth in market share

STATE owned mobile network operator, NetOne's revenue market share grew by 1.1% at a time when the company has managed to recover from a loss position.This is according to the Postal and Telecommunica...

TRANSPORT & TOURISM

Thumbs-up for Zupco tracking system

The Passengers Association of Zimbabwe (PAZ) has praised the vehicle tracking system by the Zimbabwe United Passenger Company (Zupco), which will monitor the location and fuel usage of buses insisting...

TELECOMS & TECHNOLOGY

Bill seeks to end child internet abuse

GOVERNMENT is committed to fighting abuse of children on the internet as evidenced by the crafting of the Cyber Crime, Security and Data Protection Bill, Deputy Minister of Information Communication T...

FINANCIAL SERVICES

Money Supply (M3) rises to $17.1 billion in July 2019

The Reserve Bank of Zimbabwe released its monthly economic review documents for July 2019. The publication gives a general overview of a wide range economic statistics. The monetary statistics are a k...

TRANSPORT & TOURISM

Zimbabwe's travel, tourism business levels drops in first 9 months

Zimbabwe's travel and tourism sector business levels in the first 9 months to September recorded a 5% and 10% drop respectively when compared to the same period last year, with industry officials attr...

TRANSPORT & TOURISM

Zimbabwe still to get Embraer operating manual

GOVERNMENT has engaged Embraer over delays in releasing crucial operating manuals for its Embraer ERJ145, six months after taking delivery of the aircraft from the manufacturer, the Zimbabwe Independe...