BUSINESS NEWS

CBZ appointments new of Board Chairman

CBZ Holdings Limited announces the appointment of Mr. Richard Victor Wilde as Chairman of the board with effect from 20 February 2014. Mr. Wilde is a former Deputy Governor of the Reserve Bank of Zimb...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Barter deal puts Cafca in profitable position

Cafca  MD Rob Webster told the AGM that the copper barter recycling deal has put the firm in a profitable situation as they expect the profit to go up 30% year-on-year."The barter deal started la...

By Staff reporter | Published: 21 February 2014

TELECOMS & TECHNOLOGY

Telecel takes Tomana to task

Telecel Zimbabwe (Private) Limited has said the attempt by the Prosecutor-General, Johannes Tomana, to appeal against the Supreme Court ruling forcing him to issue a certificate for the private prosec...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Chiadzwa diamond mining firms to merge

MINES Minister Walter Chidhakwa has suggested that only one company could survive the purge expected on diamond mining operations in Chiadzwa, with the rest likely to be forced to merge.Indications ar...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Scandal rocks Zuva Petroleum

THE purchase of Zuva Petroleum assets by a company owned by John Mushayavanhu has torched off controversy over allegations the banker could be fronting for a British-based commodities firm, Glencore H...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Zim gems to fetch $35m in Antwerp

Zimbabwe expects to rake in nearly $35 million from the second auction of its diamond in Antwerp, Belgium this week. The country - planning to resume local auctions this year - put over 923 000 diamon...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Chemco in debt, equity swap deal

Listed Chemco Holdings limited plans to convert a debt owed to TSL into equity. Consequently, TSL - owed around $2 million - will increase its shareholding to 81.64% in the agro-focused group. Chemco ...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

New platinum players to undergo due diligence

Mines minister Walter Chidhakwa has said government is committed to carrying out a thorough due diligence analysis on the two companies that have been shortlisted to set up a platinum refinery in the ...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Chemco plans to delist by April this year

Chemco Holdings plans to delist from the Zimbabwe Stock Exchange this year as it seeks shareholder approval for the transaction due to limited retail and institutional investor interest in Chemco shar...

By Staff reporter | Published: 21 February 2014

LANDS & AGRICULTURE

First tobacco bale sells for $4,85

The 2014 tobacco selling season opened yesterday with the first bale selling at $4,85 per kilogramme which is slightly higher than the $4,50 offered last year. At least 185 million kilogrammes of toba...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Delta in $12 million Chibuku expansion

Delta is spending close to $12 million on the expansion of its Chibuku Super plant in Chitungwiza, with annual production expected to triple to 1.8 million hectolitres. The plant will be completed by ...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Govt slashes diamond cutting, polishing fees

Zimbabwe has reduced licence fees for local diamond polishing and cutting firms from $100 000 to $20 000 annually. The licence is valid for 10 years. Walter Chidhakwa, the Mines minister, t...

By Staff reporter | Published: 21 February 2014

TELECOMS & TECHNOLOGY

Govt owes NetOne $10 million

State-owned wireless network operator, NetOne, says it is owed $10 million by government, a development that has affected its operational efficiency. Its chief executive, Reward Kangai, said the...

By Staff reporter | Published: 21 February 2014

FINANCIAL SERVICES

Trust Bank liquidation hearing next month

The liquidation hearing of Trust Bank Corporation has been postponed to next month after the Reserve Bank of Zimbabwe failed to file its heads of arguments in response to the opposing affidavit from ...

By Staff reporter | Published: 21 February 2014

TRANSPORT & TOURISM

Zinara boss caught in Air Zimbabwe insurance saga

The Ministry of Transport and Infrastructure Development was at the core of the rot at Air Zimbabwe as it emerges that Frank Chitukutuku, the Zimbabwe National Roads Administration CEO, is among the ...

By Staffr eporter | Published: 21 February 2014

FINANCIAL SERVICES

NMBZ seeks to raise $5 million

NMB Bank Limited is looking to raise about $5 million from investors such as pension funds to provide loans for Small and Medium Enterprise companies that have the capacity to pay back the money, NMB...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Cairns deal back on track

South African firm Vasari Global's bid to acquire Cairns Holdings is back on track after the parties agreed on a valuation following disputes over the purchase price. Sources said it was now mor...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Zimbabwe mulls diamond bourse

Zimbabwe is planning to establish a provisional diamond exchange by the end of the first half of this year, Mines and Mining Development Minister Walter Chidhakwa has said. Addressing the media ...

By Staff reporter | Published: 21 February 2014

LANDS & AGRICULTURE

TIMB warns against nesting tobacco

The Tobacco Industry and Marketing Board says it will be on the lookout for nesting when the 2014 marketing season for the "golden leaf" opens today. Nesting tobacco means placing good quality t...

By Staff reporter | Published: 21 February 2014

LANDS & AGRICULTURE

Tobacco selling season opens

The 2014 tobacco selling season will open today with 47 percent of the crop expected to come from communal farmers. Stakeholders have expressed confidence that the 2014 selling season would surp...

By Staff reporter | Published: 21 February 2014

TRANSPORT & TOURISM

CAAZ prejudiced of landing fees

The Civil Aviation Authority of Zimbabwe lost hundreds of thousands of United States dollars through undercharging landing fees for airlines using Harare, Victoria Falls and Joshua Nqabuko internatio...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Improved performance from Chemco

For FY 2013, Chemco posted an improved operating performance following the restructuring of the company. The operating loss reduced by 83% to $153,256. Net gearing deteriorated to an untenable 1...

By Staff reporter | Published: 21 February 2014

TELECOMS & TECHNOLOGY

Zimbabwe to stage e-Tech Africa Expo

Zimbabwe's Ministry of Information Communication Technology (ICT), Postal and Courier Services will stage an e-Tech Africa expo conference and exhibition from 11 - 14 March 2014.The theme for this ye...

By BizTechAfrica | Published: 21 February 2014

TELECOMS & TECHNOLOGY

Telecel denies rumours of disinvestment in Zimbabwe

Global telecoms operator Telecel International has denied rumours that it is pulling out of Zimbabwe. The company on Monday dispelled reports that it was shutting down because it was reluctant to pay...

By BDLive | Published: 21 February 2014

INDUSTRIALS & ENERGY

Meikles warns of Zimbabwe deflationary period

Meikles has warned of a deflationary period in Zimbabwe as it takes legal action against the Reserve Bank of Zimbabwe and Ministry of Finance and Economic Development to recover funds held on deposit...

By stockmarketwire.com | Published: 21 February 2014

Latest News

Latest Published Reports

Latest jobs