FINANCIAL SERVICES

Britain's StanChart bails out Zimbabwe govt

THE Zimbabwean government has committed to paying the US$1,2 billion arrears to the World Bank by April this year, as the first step towards unlocking fresh funding from multilateral institutions, but...

By Staff reporter | Published: 26 January 2018

BUSINESS NEWS

CZI postpones economic outlook symposium

THE Confederation of Zimbabwe Industries (CZI) has postponed its economic outlook symposium that was scheduled for this week to next week in order to accommodate some officials attending the World Eco...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

Retailers battle for consumers

RETAILERS, who are currently under fire for exploiting consumers through extortionate pricing, are now battling to fire-sell their products by offering promotions. Consumers have largely boycotted maj...

By Staff reporter | Published: 26 January 2018

FINANCIAL SERVICES

IMF meets Mnangagwa

IMF Managing Director Christine Lagarde Meets with President Emmerson Mnangagwa of ZimbabweInternational Monetary Fund (IMF) Managing Director Christine Lagarde today met with President Emmerson Mnang...

By Staff reporter | Published: 26 January 2018

FINANCIAL SERVICES

Mangudya set to deliver Monetary Policy Statement

The Reserve Bank of Zimbabwe Governor Dr John Mangudya, is set to deliver the 2018 Monetary Policy Statement (MPS) early February when he returns from Davos, Switzerland where is attending the 48th Wo...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

Govt cuts diamond ground fees

GOVERNMENT has significantly reduced ground rental annual fees for diamonds to $225 per hectare from $3 000. The reduction is in line with Government's ease of doing business reforms to facilitate inv...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

Pelhams bounces back

One of Zimbabwe's oldest furniture firms Pelhams has started re-opening its branches across the country after TN Harlequin, one of its creditors and sister company, undertook to bailout the company to...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

MMCZ seeks to revive metallurgical plant

MMCZ says it intends to revive a metallurgical plant in Kwekwe that processes refractory ore, an initiative that will promote gold production, particularly from various small-scale miners dotted aroun...

By Staff reporter | Published: 26 January 2018

TELECOMS & TECHNOLOGY

Potraz to audit telecoms firms' financial statements

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) will audit financial statements of telecommunication firms that failed to pay licensing fees to ascertain veracity of such i...

By Staff reporter | Published: 26 January 2018

LANDS & AGRICULTURE

Zim grain reserves adequate despite dryness

Zimbabwe (GMAZ) said on Jan. 23 that despite the recent dry spell its members have sufficient grain reserves to take the country through the next farming season, according to Newsday Zimbabwe."Even wh...

By Staff reporter | Published: 25 January 2018

MINING & RETAIL

Mnangagwa bets on mineral-led recovery

ZIMBABWE'S new government talks up the country's mineral wealth in its push for investment, as it seeks to snap a run of sluggish economic growth, an official document shows.The country's tilt towards...

By Staff reporter | Published: 25 January 2018

MINING & RETAIL

Fidelity threatens to deregister gold buyers

FIDELITY Printers and Refiners (FPR) has threatened to withdraw licences for agents it accuses of defying a directive to use receipt books issued by the State-controlled company when buying gold from ...

By Staff reporter | Published: 25 January 2018

LANDS & AGRICULTURE

Zimbabwe trebles banana production

Zimbabwe's banana production increased 186 percent over two years to 45 775 tonnes in 2017, from 16 000 tonnes in 2015, industry data shows.According to a Confederation of Zimbabwe Industries (CZI) re...

By Staff reporter | Published: 25 January 2018

TELECOMS & TECHNOLOGY

Zimbabwe to introduce mobile number portability

MOBILE phone users in Zimbabwe could enjoy mobile number portability (MNP) by end of this year, enabling them to switch  service providers while keeping their original mobile numbers.The Postal a...

By Staff reporter | Published: 25 January 2018

MINING & RETAIL

Wagon shortage hampers chrome exports

The Zimbabwe Mining and Smelting Company (ZIMASCO) is failing to export optimum volumes of carbon ferrochrome through Mozambique due to a shortage of rail wagons from the NRZ. Clara Sadomba, the commu...

By Staff reporter | Published: 25 January 2018

INDUSTRIALS & ENERGY

Command agric affects Delta contract scheme

DELTA Beverages says the uptake of its beverages sorghum contract farming scheme (BSCFS) will decline in 2018, as some of its farmers were now attracted to the government's Command Agriculture scheme....

By Staff reporter | Published: 25 January 2018

TELECOMS & TECHNOLOGY

NetOne sells over 2 000 WiFi gadgets

NETONE has sold more than 2 000 gadgets of the company's One-Fi gadget generating over $400 000 in the process, as demand for the one stop shop for communication services product grows.The country's s...

By Staff reporter | Published: 25 January 2018

TRANSPORT & TOURISM

No joy for UTC ex-workers

FORMER workers at the now defunct, United Touring Company (UTC) are bitter after allegedly being told they will not get their terminal benefits because the firm has no assets.The defunct tour operatin...

By Staff reporter | Published: 25 January 2018

TRANSPORT & TOURISM

Local tourists moan high charges

LOCAL tourists have appealed to tour operators to reduce charges for the various activities which they say are very high and as such work against efforts to promote domestic tourism.The Government, th...

By Staff reporter | Published: 25 January 2018

LANDS & AGRICULTURE

GMB posts $209 million loss

THE Grain Marketing Board (GMB) posted a $209 million loss in the financial year ended December 31, 2017 due to subsidised sales to millers, an official has said.According to ZBCtv, GMB general manage...

By Staff reporter | Published: 25 January 2018

LANDS & AGRICULTURE

TIMB consults parties on 2018 marketing season

The Tobacco Industry and Marketing Board (TIMB) is consulting stakeholders on possible dates for the start of the 2018 marketing season, an official has said.TIMB corporate communications manager Mr I...

By Staff reporter | Published: 25 January 2018

TELECOMS & TECHNOLOGY

Zimbabwe is unlikely to license new mobile firms

Zimbabwe is unlikely to license new entrants in the mobile telecoms sector in the foreseeable future, with the regulator saying due to limited electro-magnetic spectrum, which carries sound and data, ...

By Staff reporter | Published: 25 January 2018

INDUSTRIALS & ENERGY

ZPC gets $116m for Hwange project

The Zimbabwe Power Company has secured $116 million from regional financial institutions to go towards its equity contribution for the expansion of Hwange Thermal Power Station.ZPC's equity contributi...

By Staff reporter | Published: 25 January 2018

INDUSTRIALS & ENERGY

Forex crisis hits WMI car production

WILLOVALE Motor Industries, which last year partnered Beijing Automobile International Corporation (BAIC) to assemble vehicles, is failing to meet its initial production targets due to shortage of for...

By Staff reporter | Published: 25 January 2018

MINING & RETAIL

Zimbabwe's gold output rose to 24.8 tonnes

Zimbabwe's full year gold production rose to 24.8 tonnes in 2017 from 22.7 tonnes the previous year, the central bank's refining and printing subsidiary said on Wednesday.Gold is the southern African ...

By Reuters | Published: 24 January 2018

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