FINANCIAL SERVICES

Stanbic Bank wins Best Pan-African Bank for SMEs award

STANBIC Bank has positioned itself as a leader in the small-to-medium enterprise (SME) space through its suite of purpose-built solutions, including the Africa China Trade Agent Proposition, which con...

TELECOMS & TECHNOLOGY

Sony hikes price of its PlayStation 5 console in Europe

Sony says it has increased the price of its PlayStation 5 console in markets in Europe, Britain, Australia and New Zealand.The Japanese technology and entertainment conglomerate says a "challenging ec...

TELECOMS & TECHNOLOGY

Good news for MTN WhatsApp users in South Africa

MTN has partnered with WhatsApp owner Meta Platforms to enhance the quality of video and voice calls on the instant messaging application across 12 of the network's markets.The mobile operator says th...

MINING & RETAIL

Caledonia Mining sells solar plant for US$22.35 million

Caledonia Mining Corporation, the operator of Blanket Mine in Gwanda, has announced a US$14.3 million profit following the sale of its 12.2-megawatt solar power plant for US$22.35 million to CrossBoun...

FINANCIAL SERVICES

Steward Bank seeks to rebrand as TN Cybertech Bank

Steward Bank Limited has initiated the process to change its name to TN Cybertech Bank Limited, according to a public notice issued last week, signalling what could be a significant repositioning in Z...

INDUSTRIALS & ENERGY

Zimplow battles informal market and Chinese miners

Zimplow, one of Zimbabwe's biggest suppliers of farm and construction equipment, is grappling with two stubborn challenges that have become all too familiar: the rise of the informal market and exclus...

MINING & RETAIL

Zimbabwe firm seeks protection from asset seizure over US$93m debt

A state-owned Zimbabwean mining firm is trying to protect assets that risk being seized because the country failed to honour a US$93 million debt incurred when it lost an international arbitration cas...

LANDS & AGRICULTURE

Zimbabwean avocado gains traction among Chinese importers

CHINESE importers have positively reviewed the quality and output of Zimbabwean avocados and are committed to helping local farmers tap into the Chinese market, a Chinese trade specialist has said.Spe...

LANDS & AGRICULTURE

Zimbabwe-China tobacco expo to be held in third quarter

ZIMBABWE will hold the first Zimbabwe-China tobacco expo in the third quarter of this year to promote the country's tobacco, the country's industry regulatory body, the Tobacco Industry and Marketing ...

LANDS & AGRICULTURE

Zimbabwe to get fair harvest, says WFP

The United Nations World Food Programme (WFP) has forecast a favorable harvest for Zimbabwe in the 2024/25 cropping season, bringing much-needed relief to the nation as rainfall patterns show improvem...

INDUSTRIALS & ENERGY

Zimbabwe to produce solar panels, lithium batteries

Zimbabwe is set to begin large-scale manufacturing of solar panels and lithium batteries as part of a bold new initiative to boost the country's renewable energy sector. The development follows the re...

CONSTRUCTION & PROPERTY

'City on the Edge of the City' set to transform Bulawayo

Real estate firm Henock Ranching has announced an ambitious new urban development project, "City on the Edge of the City," which will be constructed on a 58-hectare gated lifestyle estate on the outsk...

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...