FINANCIAL SERVICES

Zim life insurance companies wrote $183m

ZIMBABWE'S life insurance companies wrote $183 million in net premiums in the half quarter to September 30, 2013 according to figures from a report by the Insurance and Pensions Commission (IPEC).This...

INDUSTRIALS & ENERGY

SABMiller CEO dies

SABMiller announced on Wednesday that chairperson Graham Mackay, who has been with the company for 35 years, passed on.Mackay died peacefully on Wednesday morning with his family at his side, the grou...

MINING & RETAIL

OK opens a Bon Marche branch in Bulawayo

OK Zimbabwe Limited announces the opening of its Bon Marche branch in Bulawayo's Parklands suburb on 18 December 2013. The Bon Marche branch will be operating from Shop 1, Megawatt Shopping Centre, Pa...

INDUSTRIALS & ENERGY

CBZ, Sakunda's $120m deal

CBZ Bank Limited (CBZ) has secured a $120 million credit facility from a top European bank, businessdaily can reveal.The money, which is expected to go a long way in easing the current liquidity crunc...

MINING & RETAIL

ZimAlloys placed under judicial management

Zimbabwe Alloys Limited, (ZimAlloys) has been placed under judicial management and may face liquidation after the ferrochrome producer's debt rose to alarming levels.The latest Government Gazette reve...

INDUSTRIALS & ENERGY

Gulliver in turnaround drive

GULLIVER Consolidated Limited is now firmly poised to bring in new equity investors or float a rights issue to raise funding required to clear liabilities to creditors following confirmation of Mr Reg...

INDUSTRIALS & ENERGY

Schweppes volumes decline

BEVERAGE maker Schweppes Zimbabwe Limited's year-end voulumes declined compared to the prior year due to softening demand on the back of a weakening economy, a company official has said.In an intervie...

FINANCIAL SERVICES

RBZ stalls ZB merger

ZB Financial Holdings (ZBFH) says a delay in Reserve Bank of Zimbabwe (RBZ) approval is stalling plans to merge its banking arm and mortgage lender, ZB Building Society (ZBBS).The group intends to com...

LANDS & AGRICULTURE

Over 60 000 ha of tobacco planted

At least 63 765 hectares have been put under tobacco so far for the 2013/2014 cropping season in the nine growing provinces, up from 40 316 at the same time last year. Mashonaland West province has th...

MINING & RETAIL

Zim's Marange diamonds draw 'much' interest

The first auction of diamonds originating from Zimbabwe's eastern Marange fields following the removal of European Union sanctions has attracted "much interest," the Antwerp World Diamond Centre said....

INDUSTRIALS & ENERGY

Choppies confirms Zim entry

ALL retail shops formerly owned by local business mogul Raji Modi have been rebranded to Choppies following the takeover of the business by Botswana's biggest retail firm Choppies Enterprises Limited....

FINANCIAL SERVICES

Chaos hits Zimbabwe banks

ANGRY Allied Bank depositors yesterday turned riotous smashing door glasses and assaulting a bank manager after failing to access their cash at one of the bank's Harare branches, a sign of the deepen...

INDUSTRIALS & ENERGY

Zimglass seeks funds to resume operations

Zimbabwe Glass Industries has applied for an undisclosed amount of money under the Distressed and Marginalised Areas Fund to raise fresh capital in a bid to resume operations, managing director Mr Gil...

IDBZ secures $10m loan

THE Infrastructure Development Bank of Zimbabwe has secured a $10 million line of credit from the Industrial Development Corporation of South Africa to support projects in the tourism sector. The loan...

MINING & RETAIL

Zim licenses 'several' gem cutting companies

Zimbabwe's Ministry of Mines and Mining Development says it has licensed several local and international diamond cutting and polishing firms to set up shop in the country, amid indications it intends ...

CONSTRUCTION & PROPERTY

Old Mutual's houses pricey

Old Mutual's multi-million-dollar low-cost housing project in Harare's Budiriro suburb, which is ostensibly meant for low and medium income groups, might end up marginalising its target market due to...

FINANCIAL SERVICES

Turmoil in Zim banking sector scares businesses

CAPTAINS of industry have expressed concern over the challenges in the country's banking sector saying it might lead to depressed business in various sectors of the economy.The banking sector has alwa...

FINANCIAL SERVICES

Nigel Chanakira ventures into private equity

KINGDOM Bank founder and entrepreneur, Mr Nigel Chanakira, has set his sights on venturing into private equity following his decision to sell his 33 percent stake at the commercial bank.Mr Chanakira ...

TRANSPORT & TOURISM

Bulawayo spruces up tourist attractions

THE City of Kings Business Ventures has spent over $80 000 towards the upgrading of its hospitality facilities and tourist attractions in the past two years as it seeks to consolidate its market ni...

INDUSTRIALS & ENERGY

RBZ to consider new Cairns offer

THE Reserve Bank of Zimbabwe is expected to make a determination on a revised offer by prospective South African investor Vasari Global for its 67 percent stake in Cairns.The revised offer follows fa...

INDUSTRIALS & ENERGY

National blankets clears $2m debt

NATIONAL Blankets Limited has cleared about $2 million it owed to Capital Bank, the textile company's judicial manager, Phillip Ndlovu, has said.In a report presented during a creditors and members ...

INDUSTRIALS & ENERGY

Innscor faces $60m fine

ZIMBABWE Stock Exchange-listed Innscor Africa was found guilty of not following proper regulatory procedures in its acquisition of a majority stake in National Foods Limited (NatFoods) and could be l...

FINANCIAL SERVICES

ABC minority shareholders rejects ADC offer

ABC Holdings directors are part of minority shareholders that have made irrevocable undertakings that they will not accept the buyout offer by majority shareholder ADC Financial Services. ADC, a cont...

TELECOMS & TECHNOLOGY

Econet launches premium shop

ECONET Wireless Zimbabwe has launched a $500,000 premium customers' shop in Bulawayo as the firm moves a gear up in ensuring the needs of high value clients are identified and met.The outlet located a...

MINING & RETAIL

Jericho Advertising makes waves in SA

JERICHO Advertising Zimbabwe has, for the second year running, now, been the only non-South African advertising agency listed by Adfocus, the prestigious South African Advertising and Marketing Annua...