TELECOMS & TECHNOLOGY

Econet share price up

Econet Wireless Zimbabwe (Econet)'s share price yesterday advanced 5,11 cents to close at 485,11 cents on the Zimbabwe Stock Exchange (ZSE) as the mobile network operator hit eight million subscribe...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Raw hides shortage hits Bata Shoe Company

The country's biggest shoe manufacturer, Bata Shoe Company, has been hit by a raw hides shortage which has seriously affected production at its Gweru factory.The shortage comes after suppliers incre...

By Business Correspondent | Published: 10 June 2013

MINING & RETAIL

Workers down tools at Dalny Mine, Zimbabwe

New Dawn Mining announced an illegal and unprotected work stoppage at its Dalny Mine in Zimbabwe. The Company said it is currently dealing with this work stoppage in accordance with Zimbabwe la...

By Ndou Paul | Published: 10 June 2013

MINING & RETAIL

Blanket Mine increases gold production

Gold production at Blanket Mine in Gwanda increased 27 percent to 45 623 ounces last year compared to 35 826oz during the same period in 2011.The gold mine, which is partly owned by Caledonia Mining...

By Business Reporter | Published: 10 June 2013

MINING & RETAIL

Mine workers' wives strike, demands their husband's bonuses

CLOSE to 800 disgruntled wives of RioZim's Renco Mine workers in Masvingo on Monday brought operations to a halt when they took to the streets demanding their husbands' annual bonuses and better wor...

By Masvingo Correspondent | Published: 10 June 2013

TELECOMS & TECHNOLOGY

EcoCash creates 5 000 jobs

Econet Wireless Zimbabwe says it has invested over US$50 million in its mobile phone based money transfer service, EcoCash, creating more than 5 000 jobs. The mobile telecommunications company said...

By Business Reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet, TN Bank partnership to allow customers buy smartphones

Econet customers will soon be able to buy the latest generation phones, known as smartphones, and tablets such as i-Pads on 24 month instalments following the creation of a special credit facility ...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet reaches 8 million subscribers

The festive season once again saw a bumper rise in Econet subscribers with the company reporting that it has crossed the 8-million level for the first time, supported by the recent introduction of B...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Banks next in line to comply with indigenisation laws

Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere is mounting pressure on foreign-owned banks to comply with the empowerment laws as no company will be spared from the in...

By Staff reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Innscor gets indigenisation ultimatum

Government has given Innscor Africa a seven-day ultimatum to submit a comprehensive indigenisation implementation plan after authorities adjudged that the group of companies was taking long to compl...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Imara Edwards probed for possible share price manipulation

SECURITIES Commission of Zimbabwe (SECz) has opened a formal inquiry into possible share price manipulation by Imara Edwards (Imara) following a share price rally between October 2, 2012 and Novemb...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet lashes out at banks on mobile money

ECONET Wireless Zimbabwe (Econet) has lashed out at banks for proposing amendments to government's banking reforms to include mobile money service providers, saying it was a selfish attempt by a cl...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Implats finally gives up 51% of Zimplats

IMPALA Platinum Limited is expected to sign the terms of the sale of a majority shareholding in its local unit, Zimbabwe Platinum Mines, today, a Cabinet minister has announced. Youth Development, I...

By Business reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Three local airlines get operating licences

THE Government has issued operating licences to three local companies that are expected to fly before the end of the  year.In an interview yesterday, Permanent Secretary in the Ministry of Tran...

By Staff reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Cafca reports a 25% rise in turnover

Turnover for the twelve months was 25% up on the corresponding nine month period resulting in an operating profit of $2.382 million which was 19% greater than the nine month period reflecting a sta...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Banks are ready to lower lending rates

ZIMBABWEAN banks are prepared to lower lending rates and bank charges but are unlikely to meet recommendations by fiscal  and monetary authorities. Banking sources said while no agreement had y...

By Staff Reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet plans to acquire the entire shareholding in TN Bank

ECONET Wireless Zimbabwe is proceeding with its plans to acquire the entire shareholdings in TN Bank through a share swap deal, the company said yesterday. Econet, which currently holds 45 percentsh...

By Business Reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Powerspeed building its business around retailing, says MD

Powerspeed has been building its business around retailing, through the Electrosales brand, as the operating environment has been difficult for manufacturing, MD Hilton Macklin told an analyst brie...

By Staff Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Zesa prepaid meter project slow

ZESA Holdings has installed 55 000 prepaid meters in domestic premises countrywide since August last year as it snails towards covering all its 600 000 customers in the next five months. The power u...

By Staff Reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

EcoCash transferring nearly $100 million monthly to rural areas

AT least $100 million monthly is being transferred from the country's urban centres to rural areas through Econet Wireless mobile money transfer EcoCash resulting in a significant impact on the rura...

By Staff Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Emirates Upgrades Lusaka and Harare Service

Airline to increase capacity by 50% with larger aircraftHARARE - Emirates, one of the world's fastest growing international airlines, will add more than 1,600 seats a week on its Lusaka and Harare ...

By Bhebhe Mandla | Published: 10 June 2013

INDUSTRIALS & ENERGY

Zesa tariff increase approved

ZESA Holdings has won a minute 0,3 percent increase in average electricity tariffs with the Zimbabwe Energy Regulatory Authority approving an increase of US9,86c kilowatt per hour from US9,83c.Zesa ...

By Staff Reporter | Published: 10 June 2013

MINING & RETAIL

Zim's platinum output expected to reach 395 000 ounces

Zimbabwe's platinum output is this year expected to reach 395 000 ounces due to massive exploration of the commodity by mining companies.Despite the fluctuations in global prices for the white metal...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Banks first deadline lapses

THE deadline for banks to raise $25 million of the new minimum capital requirements lapsed yesterday amid indications that a number of foreign and local banks had managed to raise the requisite fund...

By Business reporter | Published: 10 June 2013
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