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

LANDS & AGRICULTURE

ARDA Katiyo in US$95m investment deal

Agricultural productivity at ARDA Katiyo Estate is being revived after government secured investors that will channel at least US$95 million towards tea and avocado production.The investment deal will...

By Staff reporter | Published: 29 January 2019

INDUSTRIALS & ENERGY

Lifeline for Deven Engineering

The recently introduced mass public transport system in the country has opened new opportunities for local bus manufacturers and assemblers as more buses are needed to roll out the exercise country wi...

By Staff reporter | Published: 29 January 2019

TRANSPORT & TOURISM

CAAZ, NHS resign to losing $68,8m to Air Zimbabwe

The Civil Aviation Authority of Zimbabwe (CAAZ) and the National Handling Services (NHS) are resigned to the possibility of losing $68,8 million dollars the two companies were owed by Air Zimbabwe whe...

By Staff reporter | Published: 29 January 2019

MINING & RETAIL

Unki projects higher output

ANGLO American's local platinum producer, Unki Platinum Mine projects that this year's output will increase to at least 4,2 million ounces from 1,3 million oz last year. In a quarterly production repo...

By Staff reporter | Published: 29 January 2019

FINANCIAL SERVICES

First Capital Bank shelves unbundling of non-core assets

FIRST Capital Bank, formerly Barclays Bank Zimbabwe has indefinitely suspended the proposed unbundling of non-core assets for listing on the Zimbabwe Stock Exchange (ZSE). In a statement regarding the...

By Staff reporter | Published: 29 January 2019

MINING & RETAIL

ZCDC to extract Chihota diamonds

The Zimbabwe Consolidated Diamond Company (ZCDC), has moved a gear up towards establishing diamonds extraction operations in Chihota communal lands in Marondera District, with the firm having engaged ...

By Staff reporter | Published: 29 January 2019

MINING & RETAIL

Unki FY production up 15%

ANGLO American Platinum's local unit, Unki Platinum, reported a 15% production increase to 85 900 ounces in the full year to December 2018 up from 74 600 ounces recorded in prior year driven by an imp...

By Staff reporter | Published: 25 January 2019

TRANSPORT & TOURISM

Zimbabwe tourism sector counts losses in the wake of protests

ZIMBABWE'S tourism industry stakeholders say the three-day shutdown that brought business to a standstill severely affected the sector, especially in terms of booking cancellations.The shutdown, which...

By Staff reporter | Published: 20 January 2019

MINING & RETAIL

'Looting spells death for Zimbabwe retailers'

BUSINESSES that were broken into, looted and sometimes burnt down during the recent nationwide protests might not be able to rebuild, restock and reopen, business leaders have said.Last week Zimbabwe ...

By Staff reporter | Published: 20 January 2019

INDUSTRIALS & ENERGY

Delta urged to explore export market

INDUSTRY and Commerce Deputy Minister Raj Modi says Delta Corporation Limited should consider exploring and fortifying export markets to enable it to boost its foreign currency coffers in the wake of ...

By Staff reporter | Published: 20 January 2019

MINING & RETAIL

Zimbabwe eyes rejoining London Bullion Market

Zimbabwe is targeting to upscale its engagement for re-accreditation into the London Bullion Market this year as the government seeks to optimize earnings from gold by participating on a global market...

By Staff reporter | Published: 19 January 2019

TELECOMS & TECHNOLOGY

Mnangagwa sued over Internet blackout

Two civic society organisations have dragged President Emmerson Mnangagwa to the High Court following a government decision to completely shut down the Internet twice in a week, following a three-day ...

By Staff reporter | Published: 19 January 2019

TRANSPORT & TOURISM

'17,5% boost in tourist entries'

Zimbabwe recorded a 17,5 percent increase in the number of tourists who entered the country in 2018, the department of Immigration has said.The number of travellers cleared around the country's ports ...

By Staff reporter | Published: 19 January 2019

MINING & RETAIL

Mphoko to be paid for 51% of Choppies

FORMER Vice-President Phelekezela Mphoko and his son, Siqokoqela, have exited Choppies Supermarkets after offering to be bought out of the company to end a protracted ownership wrangle. The Mphokos' l...

By Staff reporter | Published: 19 January 2019

BUSINESS NEWS

Local currency recipe for disaster

FINANCE minister Mthuli Ncube's recent pronouncements that Zimbabwe will revert to using its own currency, a decade after it abandoned the local dollar in favour of a basket of currencies is not feasi...

By Staff reporter | Published: 19 January 2019

FINANCIAL SERVICES

Economic turmoil threatens ZB topline

ZB Holdings sees its topline earnings growing 20% in the current financial year but warned this could be affected by the current economic turmoil that has seen cost structures shoot through the roof, ...

By Staff reporter | Published: 19 January 2019

MINING & RETAIL

Mining sector to meet Chitando over forex allocation

MINE workers and the Chamber of Mines have agreed to approach the government and table a request for the sector to get at least 80% of their foreign currency earnings, businessdigest has learnt.This c...

By Staff reporter | Published: 19 January 2019
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