BUSINESS NEWS

'Zimbabwe economic revival possible'

In this week's instalment of Women on Top - a new column that celebrates women in top positions - Daily News deputy business editor Ndakaziva Majaka caught up with State fixed phone operator TelOne's ...

By Staff reporter | Published: 04 July 2017

FINANCIAL SERVICES

Vingirai threatens ZB pull out

Government is likely to regain its 23,5 percent stake in ZB Financial Holdings (ZBFH) after businessman Nicholas Vingirai threatened to pull out of the banking group due to shareholder disagreements.M...

By Staff reporter | Published: 04 July 2017

TELECOMS & TECHNOLOGY

NetOne paid Kangai $247 000

Zimbabwe's government-owned mobile firm NetOne has said it paid its former chief executive officer Reward Kangai $247 000 following the termination of his employment contract.Kangai was sent on forced...

By Staff reporter | Published: 04 July 2017

CONSTRUCTION & PROPERTY

Zimre in cost-cutting drive

Zimre Property Investments (ZPI) has embarked on another cost-cutting drive aimed at keeping the company afloat in an increasingly challenging economic environment.The realtor's managing director, Eds...

By Staff reporter | Published: 04 July 2017

MINING & RETAIL

Premier to commence commercial Lithium mining

London Stock Exchange-listed mining exploration and production company, Premier African Minerals Limited (Premier), anticipates beginning commercial mining at its Zulu Lithium and Tantalum mine follow...

By Staff reporter | Published: 04 July 2017

INDUSTRIALS & ENERGY

'Zimphos plant on course'

Local fertiliser manufacturer Zimphos' Msasa sulphuric acid plant is now 25 percent complete amid indications it will come online by first quarter 2018, a junior minister said.Deputy Industry minister...

By Staff reporter | Published: 04 July 2017

FINANCIAL SERVICES

Agribank unveils $70 million facilities

The Agricultural Bank of Zimbabwe (Agribank) has unveiled $70 million earmarked to stimulate export trade and horticulture production.Agribank public relations manager Olam Marufu told the businessdai...

By Staff reporter | Published: 04 July 2017

FINANCIAL SERVICES

Guvamatanga's future hangs in the balance?

The fate of Barclays Bank Zimbabwe (BBZ) managing director  George Guvamatanga (pictured) is hanging in the balance after his company was recently taken over by Malawi First Merchant Bank (FMB).T...

By Staff reporter | Published: 04 July 2017

FINANCIAL SERVICES

'Banks to charge interest on declining balance basis'

BANKS must stop charging interest on loans once the interest payable equals the amount borrowed while interest charges should be on reducing balance basis, the Reserve Bank of Zimbabwe said in a frame...

By Staff reporter | Published: 04 July 2017

TRANSPORT & TOURISM

Airlink lands in Victoria Falls

SOUTH Africa's privately owned Airlink landed at the Victoria Falls International Airport on Sunday to become the third new airliner to fly direct to the prime resort town this year since the commissi...

By Staff reporter | Published: 04 July 2017

LANDS & AGRICULTURE

Chinese firm to harvest timber in Lupane

KUSILE Rural District Council (KRDC) in Matabeleland North has courted a Chinese firm, Fazhao Investment to harvest and process timber in the area.KRDC chief executive officer, Mr Christopher Chuma, s...

By Staff reporter | Published: 04 July 2017

TELECOMS & TECHNOLOGY

Econet slashes EcoCash merchant payment fees

ECONET Wireless has reduced EcoCash tariffs on all merchant payments by up to 50 percent with effect from yesterday, to reduce cost of transacting on the payment platform.The reduction, Econet said, w...

By Staff reporter | Published: 04 July 2017

TRANSPORT & TOURISM

NRZ gets $5m for fleet repairs

NRZ has so far this year overhauled 165 wagons in an effort to bring profitability to the firmThe National Railways of Zimbabwe (NRZ) has secured a $5 million loan from a local bank to repair part of ...

By Staff reporter | Published: 04 July 2017

TRANSPORT & TOURISM

Mudenda advises Merlin to make diapers not napkins

ONE of Bulawayo's iconic textile firms, Merlin, needs a total overhaul of its production model so it can be turned around, Speaker of the National Assembly Jacob Mudenda has said.Addressing delegates ...

By Staff reporter | Published: 04 July 2017

LANDS & AGRICULTURE

Lack of funds affecting agriculture operations

THE Ministry of Agriculture, Mechanisation and Irrigation Development only receives 30% in budgetary allocations from Treasury crippling agricultural research service activities, a government official...

By Staff reporter | Published: 04 July 2017

LANDS & AGRICULTURE

Farmers demand prioritised command livestock

The looming command livestock programme has to prioritise regions that intensively keep livestock to avoid unnecessary abuse of government funds, Zimbabwe Farmers' Union (ZFU) vice-president, Phillip ...

By Staff reporter | Published: 04 July 2017

INDUSTRIALS & ENERGY

Dewei purchases PG for R500,000

Hardware retailer PG Industries says it has found an investor, Dewei Investments Limited, to buy the entire company's share register at a cost of $500,000.The company has been under a High Court sanct...

By Staff reporter | Published: 14 July 2016

LANDS & AGRICULTURE

Tobacco rakes in $500 million

TOBACCO sales have so far raked in more than $500 million in sales for the 71 days of the marketing season, as farmers continue to deliver the golden leaf.tobacco prices started as low as US 0.6 cents...

By Staff reporter | Published: 13 July 2016

INDUSTRIALS & ENERGY

Delta reports 11% drop in first quarter revenues

Delta Corporation’s revenue fell 11% in the first quarter, reflecting both weak demand and changes to the mix of the products within our portfolio. In its trading update for the three months to...

By Staff reporter | Published: 13 July 2016

INDUSTRIALS & ENERGY

Meikles FY2016 turnover up 10%

Hotel and retail group Meikles Africa Limited's turnover for the full year to March 30, 2016 rose by 10 percent to $454 million relative to prior year.The group says it has delayed the release of its ...

By Staff reporter | Published: 12 July 2016

FINANCIAL SERVICES

Stanbic to launch mobile banking app

Standard Bank Africa has announced plans to launch a new banking application in ten countries including at its local subsidiary Stanbic Zimbabwe, before the end of this year.Stanbic Bank Zimbabwe is a...

By New Ziana | Published: 12 July 2016

MINING & RETAIL

Mugabe takes Zimplats to court in effort to seize land

ZIMPLATS has been dragged to court with President Robert Mugabe seeking to finalise the take-over of nearly 28,000 hectares of platinum land claims belonging to the miner.Zimbabwe is pushing through a...

By Staff reporter | Published: 12 July 2016

TRANSPORT & TOURISM

CourierConnect in maiden profit

ZIMBABWE'S premier logistics concern, CourierConnect's turnaround strategy has paid dividends with the company posting profits for the first time since its inception about seven years ago. For the yea...

By Conrad Mwanawashe | Published: 12 July 2016

MINING & RETAIL

Chihota takes control of RioZim operations

RioZim Ltd chairman Lovemore Chihota has taken over the day-to-day management of the mining group amid indications he now has an office and works closely with external managers, the Zimbabwe Independe...

By Staff reporter | Published: 12 July 2016

MINING & RETAIL

Zim miners deny evading taxes

Zimbabwe mining companies say they are not evading taxes but distribute their earnings legitimately among various stakeholders in line with the country's laws.Isaac Kwesu, the Zimbabwe Chamber of Mine...

By Staff reporter | Published: 24 June 2015

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