TELECOMS & TECHNOLOGY

MTN's expensive calls to Zimbabwe

MTN South Africa on Monday issued an ambiguous statement saying it was cutting the cost of international telephone calls to "as little as 75c/minute" to a number of markets across Africa, including Zi...

By Staff reporter | Published: 17 September 2013

TRANSPORT & TOURISM

Air Zimbabwe appoints new acting boss

NATIONAL airline Air Zimbabwe has appointed corporate quality, safety and security head Edmund Makona as the new acting chief executive officer, taking over from Innocent Mavhunga who had also been in...

By Staff reporter | Published: 17 September 2013

TRANSPORT & TOURISM

Pioneer submits updated indigenisation proposal

PIONEER Africa Corporation has submitted an updated compliance proposal of its indigenisation plan and is now waiting for Government's response.Group chief executive officer of Pioneer Corporation Mr ...

By Staff reporter | Published: 16 September 2013

FINANCIAL SERVICES

CABS to review SMEs loan fund

CABS is set to review upwards loans availed to players in the Small to Medium Enterprises sector from $50 000, an official has said.Addressing local businesspeople attending a ZimTrade business traini...

By Staff reporter | Published: 16 September 2013

INDUSTRIALS & ENERGY

NIEEB wants Masawara's BP acquisition revoked

Zimbabwe wants locals to exclusively benefit from Masawara Plc's $39 million purchase of a stake in BP and Shell Marketing Services and may tear up the current financial arrangement if it fails to rea...

By Staff reporter | Published: 16 September 2013

TELECOMS & TECHNOLOGY

Telecel disconnects 100k unregistered lines

ZIMBABWE'S second largest mobile phone operator by subscription Telecel Zimbabwe has switched off nearly 100 000 lines after the country's telecoms regulator issued a directive ordering players to dis...

By Staff reporter | Published: 16 September 2013

INDUSTRIALS & ENERGY

Afdis to install new bottling line

Zimbabwe stock exchange listed wines and spirits producer, African Distillers Limited is planning to install a million dollar bottling line in a bid to modernise its production and improve capacity ut...

By Staff reporter | Published: 16 September 2013

TELECOMS & TECHNOLOGY

Twitter's 'secret' IPO puts investors in the dark

Twitter's use of a confidential initial public offering filing has reignited a debate about a 2012 U.S. law that critics say denies investors time to digest a company's financial information and erode...

By Tech Reporter | Published: 14 September 2013

LANDS & AGRICULTURE

BAT to focus on a volume recovery plan

BAT Zimbabwe Managing Director Lovemore Manatsa told analysts yesterday that BATZ will continue focusing on a volume recovery plan as to stem volume decline which affected the firm's financial perfor...

By Business reporter | Published: 13 September 2013

BUSINESS NEWS

Imara CEO named Chairman of Global Alliance Partners

Imara Group chief executive officer Mark Tunmer has been elected chairman of Global Alliance Partners (GAP), the international network of financial service companies dedicated to fostering worldwide i...

By Staff reporter | Published: 13 September 2013

INDUSTRIALS & ENERGY

BAT continue to dominate the tobacco market

British American Tobacco Zimbabwe Limited (BATZ) released a flat set of results showing a 0.5% increase in revenue to $23.1 million compared to $23 million in the prior period. BATZ continue to domina...

By Staff reporter | Published: 13 September 2013

FINANCIAL SERVICES

FMHL in new cellphone insurance venture

Still smarting from a public spat with Zimbabwe's largest mobile telephony company Econet Wireless over the ill-fated EcoLife life assurance product, listed insurance group First Mutual Holdings Limit...

By Staff reporter | Published: 13 September 2013

FINANCIAL SERVICES

ZB Life Assurance accused of fraud

ZB Life Assurance is embroiled in a messy wrangle with a group of policyholders, who are demanding their premiums back citing misrepresentation on the benefits of the insurance product. There are abou...

By Staff reporter | Published: 13 September 2013

FINANCIAL SERVICES

KPMG to engage financial experts

Financial experts are expected to meet in Harare next week to discuss topical issues related to financial reporting, regulatory environment and other matters affecting businesses in Zimbabwe.The expe...

By Staff reporter | Published: 13 September 2013

INDUSTRIALS & ENERGY

Green Fuel calls for 20% blending

Green Fuel is pleading with the government to consider introducing at least 20% mandatory ethanol-petrol blending to maximise national benefits from the $600 million investment at Chisumbanje and in t...

By Staff reporter | Published: 13 September 2013

TELECOMS & TECHNOLOGY

Potraz release consumer protection guidelines

THE Postal and Telecommunications Regulatory Authority of Zimbabwe has released the Consumer Protection Guidelines draft which will assist consumers and service providers providing communication serv...

By Staff reporter | Published: 12 September 2013

INDUSTRIALS & ENERGY

TA release an improved set of results

TA released an improved set of results showing a 12.5% growth in revenue to $39m from $34.6m. The insurance division continues to anchor performance after contributing $21.9m in net earned premium dow...

By Staff reporter | Published: 12 September 2013

FINANCIAL SERVICES

Fidelity release a depressed set of results

Fidelity Life Assurance realised a depressed set of results, underwriting surplus was 33% down from $3.3m to $2.2m. Profit from operations dipped 21% from $3.3m to $2.6m mainly because land that was e...

By Staff reporter | Published: 12 September 2013

MINING & RETAIL

Zimplats expansion forges ahead

Zimbabwe Platinum Mines (Zimplats) is forging ahead with its multi-million dollar Ngezi Phase II expansion project after engaging South Africa-based Robor Pipe Systems (Robor) to supply steel pipeline...

By Business reporter | Published: 12 September 2013

INDUSTRIALS & ENERGY

AICO to complete SeedCo sale by November

ZSE- Listed agro-industrial conglomerate, AICO Africa Limited is to complete the disposal of a 20 percent shareholding in Seed Co to a United Kingdom seed company, Limagrain, by the end of November.Th...

By Staff reporter | Published: 12 September 2013

INDUSTRIALS & ENERGY

Mtanda in bid to prevent CAPS auction

Embattled CAPS Holdings boss, Fred Mtanda, has made an offer to stop the auctioning of the pharmaceutical company's assets to settle debts owed to financial institutions. Mtanda is reportedly negotiat...

By Staff reporter | Published: 12 September 2013

INDUSTRIALS & ENERGY

Astra to rebrand after acquisition

Astra to rebrand after acquisitionAstra Industries is expected to rebrand after its recent acquisition by a Tokyo-listed firm, Kansai Plascon Africa, which is expected to be unveiled to the market in...

By Staff reporter | Published: 12 September 2013

FINANCIAL SERVICES

Tetrad Inv Bank accused of abusing clients' funds

Tetrad Investment Bank has been taken to court for allegedly withdrawing its client's money without the authority  of the account holders.The bank was summoned to appear at the Harare Magistrate...

By Staff reporter | Published: 12 September 2013

MINING & RETAIL

Ziscosteel disposal to Essar is on track

ACQUISITION of controlling shareholding in Ziscosteel by Mauritius based Essar Holdings will be expedited now that President Mugabe has appointed Cabinet, newly appointed Industry and Commerce Minist...

By Staff reporter | Published: 12 September 2013

MINING & RETAIL

Zimbabwe to promote investment into the mining sector

NEW Mines and Mining Development Minister Walter Chidhakwa yesterday said mining contributes significantly to the economic growth of Zimbabwe in a number of ways.Speaking shortly after being sworn in,...

By Staff reporter | Published: 12 September 2013

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