FINANCIAL SERVICES

Tetrad Bank gets foreign investor

Tetrad Investment Bank could finally have got the Reserve Bank of Zimbabwe off its back after completing a deal to bring in an investor.Tetrad was one of the seven banks that were being monitored by t...

By Staff reporter | Published: 28 April 2014

TELECOMS & TECHNOLOGY

Gondwana selects Avanti for Zim broadband and VOIP services

Pan-African telecoms operator, Gondwana International Networks has announced that it has signed a new contract with Avanti Communications which will see the latter deploy both broadband and VOIP servi...

By Staff reporter | Published: 28 April 2014

INDUSTRIALS & ENERGY

India offers $100m for Zimbabwe firms

INDUSTRY and Commerce minister Mike Bimha says Bulawayo industries are top priority to benefit from a $100 million credit facility extended to Zimbabwe by the Indian government.The Zimbabwe government...

By Staff reporter | Published: 28 April 2014

LANDS & AGRICULTURE

Zim agric sector to grow 7,3%, says World Bank

Zimbabwe's agriculture will recover by 7,3 percent this year, the World Bank has said in its latest country report.It said after a poor 2012\13 season, agriculture is expected to rebound largely on th...

By New Ziana. | Published: 28 April 2014

INDUSTRIALS & ENERGY

ZimChem in import substitution drive

Kwekwe-based ZimChem Refiners Private Limited has started producing stone pre-coat oil, which the country has been importing from other countries.In an interview at the just-ended Zimbabwe Internation...

By Staff reporter | Published: 28 April 2014

TRANSPORT & TOURISM

CAAZ in talks with RwandAir

Rwanda's national airline, RwandAir could be the latest airline to fly into Harare as the country continues with efforts to woo more airlines into the country. Civil Aviation Authority of Zimbabwe chi...

By Staff reporter | Published: 28 April 2014

TRANSPORT & TOURISM

Cambria to sell Leopard Rock

Zimbabwe-focused investment company Cambria Africa is prepared to offload its hotel property, Leopard Rock, which is located in Vumba in the Eastern highlands of the country. According to an e-mail st...

By Staff reporter | Published: 28 April 2014

MINING & RETAIL

No to chrome ore exports, says Govt

Government will not issue permits for chrome ore exports as its focus is currently on value addition and beneficiation of minerals, Mines and Mining Development Deputy Minister Fred Moyo said. Deputy ...

By Staff reporter | Published: 28 April 2014

TRANSPORT & TOURISM

Air Zimbabwe hit by skills flight

Embattled national airline, Air Zimbabwe is faced with a potentially crippling skills flight of key aircraft technicians, engineers and pilots.Impeccable sources at the airline said regional and inte...

By Staff reporter | Published: 28 April 2014

FINANCIAL SERVICES

Zibawu pushes for IDBZ CEO ouster

Combative workers union, The Zimbabwe Allied Bankers and Workers Union (Zibawu) is spiritedly campaigning for the voluntary resignation of Infrastructure Development Bank Zimbabwe (IDBZ) chief execut...

By Staff reporter | Published: 28 April 2014

MINING & RETAIL

Unki platinum production up 4%

Anglo-American Platinum Limited (Amplats) says its Zimbabwean unit, Unki Mine, which recorded a 4 percent increase in production, helped to cushion losses incurred in the South African mines whose ope...

By Staff reporter | Published: 25 April 2014

CONSTRUCTION & PROPERTY

PPC to post higher interim profits

Cement manufacturer PPC said today that it is likely to post higher profits in the six months to March 2014. In a trading update, PPC said this is attributable to "non-recurring accounting items."The ...

By Staff reporter | Published: 25 April 2014

LANDS & AGRICULTURE

Zim tobacco sales up 3,8% from last year

Zimbabwe has so far sold tobacco worth $300 million, a 3,8 percent improvement from last year's $289 million in the comparable period.Latest figures from the Tobacco Marketing Industry Board (Timb) sh...

By Staff reporter | Published: 25 April 2014

TELECOMS & TECHNOLOGY

Zim yet to harness ICT opportunities

Zimbabwe is still some way off to be fully capacitated to harness the opportunities offered by information and communication technologies (ICTs).A study by the World Economic Forum released yesterday ...

By Staff reporter | Published: 25 April 2014

MINING & RETAIL

Zim boosts search for new mineral reserves

Zimbabwe is equipping the state owned Mining Promotion Corp. to drive the search for new mineral reserves together with external partners, Mines Minister Walter Chidakwa said.Minerals exploration and ...

By Staff reporter | Published: 25 April 2014

INDUSTRIALS & ENERGY

Sable Chemicals weighs down TA Holdings

Zimbabwe Stock Exchange-listed group TA Holdings says it is anticipating a loss for the year ended December 31 2013 following an impairment charge against one of its subsidiaries.In a statement, the g...

By Staff reporter | Published: 25 April 2014

FINANCIAL SERVICES

'Rebuild confidence in banks,' US tells Zimbabwe

The United States says Zimbabwe must rebuild confidence in its vulnerable banking sector to enable the country to attract foreign investment.Bruce Wharton, the US ambassador to Zimbabwe, said foreign ...

By Business Live | Published: 25 April 2014

FINANCIAL SERVICES

Steward Bank opens new branch

STEWARD Bank on Wednesday opened a new branch in Bulawayo as part of its expansion drive.Speaking at the official opening of the branch along Fife Street, Steward Bank chief executive officer (CEO) Kw...

By Staff reporter | Published: 25 April 2014

TRANSPORT & TOURISM

Zinara rocked by a labour dispute

THE Zimbabwe National Roads Administration (Zinara) has been rocked by a labour dispute with employees manning its tollgates after the road company allegedly breached its contractual agreement over sa...

By Staff reporter | Published: 25 April 2014

FINANCIAL SERVICES

Zim tycoon sues AfrAsia for $79m

AFRASIA Bank, formerly Kingdom Bank, has been sued for about $79 million by local tycoon Zachary Wazara and his firm Spiritage Zimbabwe Limited for allegedly breaching its obligations in Valley Techno...

By Staff reporter | Published: 25 April 2014

FINANCIAL SERVICES

AfrAsia deal signals major indigenisation climb down

This week's announcement Mauritius-based Afrasia Bank Ltd has increased shareholding in AfrAsia Zimbabwe Holdings Limited to 62,5% , following the injection of an additional $20 million into the enti...

By Staff reporter | Published: 25 April 2014

TRANSPORT & TOURISM

Zupco financial problems a result of patronage, corruption

ZCTU secretary-general Japhet Moyo says financial problems at Zupco is symptomatic of the abuse and mismanagement of parastatals in the country.Several parastatals face viability problems that have se...

By Staff reporter | Published: 25 April 2014

TRANSPORT & TOURISM

Zupco falls apart

Beleaguered state owned bus company, Zimbabwe United Passenger Company (Zupco) has all but fallen apart due to financial dire straits that have resulted in the grounding part of its fleet of buses and...

By businessdigest | Published: 25 April 2014

FINANCIAL SERVICES

Old Mutual approves share buy-back

Old Mutual Zimbabwe Limited shareholders this week approved a share buyback meant to facilitate the eventual disposal of shares to indigenous Zimbabweans in line with the company's compliance to the i...

By Staff reporter | Published: 25 April 2014

FINANCIAL SERVICES

Deflation hits banks

Local Banks will increasingly reel from persistent deflation as analysts fear growing depressed demand for loans and massive defaults on borrowing by companies and individuals struggling under a liqui...

By Staff reporter | Published: 25 April 2014

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