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African Guaranteed Fund (AGF), the foreign backers of Untu Capital's bond issue, have withdrawn their support to the microfinance company citing Zimbabwe's current unpredictable economic environment, ...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

MINING & RETAIL

Ingwebu franchises its beer outlets

INGWEBU Breweries plans to franchise all its beer retailing outlets and focus on manufacturing and distribution of traditional beer, a development which could increase the company's revenue by at leas...

By Staff reporter | Published: 06 February 2019

INDUSTRIALS & ENERGY

Car assembly plant for Kwekwe

A ZIMBABWEAN businessman, Dr Devine Mafa, who is based in the United States of America, has partnered with an unnamed international car manufacturer to set up a vehicle assembly plant in Kwekwe. In an...

By Staff reporter | Published: 06 February 2019

LANDS & AGRICULTURE

Pork industry records 20% growth

THE number of slaughtered pigs increased by nearly 20% in 2018 compared to the previous year, but the sector remained heavily constrained by high costs of feed and veterinary medicines, an official ha...

By Staff reporter | Published: 04 February 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

Concern over slow MZWP progress as Bulawayo runs dry

Bulawayo residents have expressed concern over the slow progress in implementing the Matabeleland Zambezi Water Project (MZWP), which has been touted as the answer to the region's water crisis.MZWP is...

By Staff reporter | Published: 04 February 2019

MINING & RETAIL

Mine robbery gang members denied bail

The trial of eight Zvishavane men, who allegedly raided a Chinese mining company in Zvishavane recently failed to kick off in Gweru on Friday as the State is waiting for documents from their court of ...

By Staff reporter | Published: 04 February 2019

BUSINESS NEWS

IDCZ disposes stakes in Almin Metal Industries, Stone Holdings

THE Industrial Development Corporation of Zimbabwe (IDCZ) has disposed of its shareholding in Almin Metal Industries and Stone Holdings as part of a restructuring process to be completed this year. Th...

By Staff reporter | Published: 04 February 2019

BUSINESS NEWS

Investment bill to be gazetted in 2-3 weeks

THE Zimbabwe Investment Development Authority Bill (Zida) is set to be gazetted within the next few weeks. The merging of the country's investment entities mooted in May 2018 is inspired by the Rwanda...

By Staff reporter | Published: 04 February 2019

BUSINESS NEWS

Acute fuel shortages rock Zimbabwe again

Energy and Power Development minister Jorum Gumbo yesterday claimed that fuel companies were concentrating on supplying outlying areas resulting in a shortage of the commodity in urban areas.Gumbo mad...

By Staff reporter | Published: 03 February 2019

BUSINESS NEWS

TSL seeks forex to stay afloat

Industrial holdings group Tobacco Sales Limited (TSL) says it will this year focus on partnerships with international firms to generate foreign currency to cushion its operations.TSL's plan comes at a...

By Staff reporter | Published: 03 February 2019

TRANSPORT & TOURISM

Bulawayo Rainbow Hotel closes

The Rainbow Tourism Group will temporarily close the Bulawayo Rainbow Hotel to make way for renovations.Rainbow Tourism Group Corporate Communications and Innovations Manager, PrideKhumbula said the h...

By Staff reporter | Published: 03 February 2019

TRANSPORT & TOURISM

Zimbabwe airports' utilisation below 30%

Capacity utilisation at local airports has slumped to below 30 percent on the back of continued operational challenges facing national airline, Air Zimbabwe.This comes at a time the Civil Aviation Aut...

By Staff reporter | Published: 03 February 2019

TRANSPORT & TOURISM

Air Zimbabwe moves in to curb arbitrage

Financially-troubled national airline Air Zimbabwe (AirZim) has instructed its travel agents to start charging in foreign currency for passengers flying into the country as the company seeks to turnar...

By Staff reporter | Published: 01 February 2019

INDUSTRIALS & ENERGY

AB InBev gives Delta breathing space

Delta Corporation's anchor shareholder, AB InBev, will place over $120 million in unremitted dividends and fees in Reserve Bank of Zimbabwe (RBZ) savings bonds thereby reducing pressure on the demand ...

By Staff reporter | Published: 01 February 2019

FINANCIAL SERVICES

WorldRemit launches money transfer service from SA to Zimbabwe

Leading digital money transfer service WorldRemit has launched low-cost online money transfers from South Africa to Zimbabwe.Using the WorldRemit app or website, Zimbabweans living in South Africa can...

By Staff reporter | Published: 31 January 2019

MINING & RETAIL

South African firm injects R55 billion into Lupane gas

A SOUTH African mining firm Tumagole Consortium says it is committed to investing R55 billion into the Coal-Bed Methane mining project in Lupane. Tumagole Consortium officials, who were led by South A...

By Staff reporter | Published: 31 January 2019

TRANSPORT & TOURISM

$15m hotel under construction

HOSPITALITY concern, Ilala Lodge Hotel Group has started the construction of a $15 million hotel along the Zambezi River in Victoria Falls. In a statement, the group said the building of the four-star...

By Staff reporter | Published: 31 January 2019

INDUSTRIALS & ENERGY

Zesa engages BCC over power station

State power utility Zesa Holdings says it will engage Bulawayo City Council (BCC) and other stakeholders to resolve the ownership wrangle over Bulawayo Power Station, which BCC claims to own. This com...

By Staff reporter | Published: 31 January 2019

MINING & RETAIL

Companies Bill presented

JUSTICE minister Ziyambi Ziyambi yesterday presented the second reading of the Companies and Other Business Entities Bill which, among other provisions, facilitates the electronic registration of busi...

By Staff reporter | Published: 31 January 2019

MINING & RETAIL

Miners object EPOs introduction

Zimbabwe Miners Federation (ZMF), the umbrella body representing small-scale miners, is opposing applications for Exclusive Prospecting Orders (EPOs) made by 11 local and international mining companie...

By Staff reporter | Published: 31 January 2019

MINING & RETAIL

Edgars charges on Edcon deal

Edgars Stores Zimbabwe (Edgars) stock headlined gains on the Zimbabwe Stock Exchange (ZSE) last week after surging 43,64 percent following an announcement that Edcon South Africa (Edcon) was shoring u...

By Staff reporter | Published: 30 January 2019

FINANCIAL SERVICES

Zimbabwe commercial bank deposits surge 25% to $8 billion

Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review of Octobe...

By Staff reporter | Published: 30 January 2019

MINING & RETAIL

Kamativi starts work on refinery plant

Kamativi Tailings Company says it will commence civil works at its plant site in Matabeleland North after the company concluded a $9,5 million offtake arrangement with a Swiss-based commodity trader, ...

By Staff reporter | Published: 30 January 2019

INDUSTRIALS & ENERGY

Adcock Ingram plots Zimbabwe exit

SOUTH African pharmaceutical group Adcock Ingram says it is assessing the viability of its continued presence in Zimbabwe, given the country's deteriorating economic environment.The Johannesburg Stock...

By Staff reporter | Published: 30 January 2019
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