TELECOMS & TECHNOLOGY

Potraz cancels Spiritage Communication licence

THE Postal and Telecommunication Regulatory Authority of Zimbabwe (Potraz) has cancelled the operating licence of Valley Technologies (Pvt) Ltd after the company failed to pay a licensing and spectrum...

By Staff reporter | Published: 18 September 2013

MINING & RETAIL

Kamativi tin project to start production in 2014

JOHANNESBURG - Aim-listed Premier African Minerals is aiming to start low-cost production at its flagship RHA tungsten project, in the Kamativi tin belt, in Zimbabwe, during the second half of 2014, f...

By miningweekly.com | Published: 18 September 2013

INDUSTRIALS & ENERGY

Shoprite quits trading in Zimbabwe

South Africa's retail outlet Shoprite has closed shop at the Bulawayo Centre amid revelations local business mogul Raji Modi, owner of Bellevue Spar, has taken over the business to open another outlet...

By Staff reporter | Published: 18 September 2013

TRANSPORT & TOURISM

Comair commits to Vic Falls - Johannesburg route

BRITISH Airways Comair is committed itself to servicing the Victoria Falls/Johannesburg and will introduce larger aircraft once expansion of the resort town's airport runway is completed, an official ...

By Staff reporter | Published: 18 September 2013

MINING & RETAIL

Mwana Africa raises $2,8 million

Business ReporterMwana Africa Plc has raised $2,8 million through a subscription and placing of shares, taken up by existing and new shareholders, to accelerate development of its mining projects.The ...

By Business reporter | Published: 18 September 2013

INDUSTRIALS & ENERGY

OK Zimbabwe issues 15m shares

RETAIL giant OK Zimbabwe has issued a total of  15 143 314 ordinary shares valued at $3,5 million to beneficiaries of its share option scheme. This will increase the number of OK ordinary shares ...

By Business Reporter | Published: 18 September 2013

TELECOMS & TECHNOLOGY

Tracy Mpofu explains why Econet has not been paying dividends

Tracy Mpofu, Econet Wireless non-executive director who chaired the AGM held on 17 September 2013 said Econet has not been paying a dividend due to a number of commitments which put pressure on cash ...

By Staff reporter | Published: 17 September 2013

TELECOMS & TECHNOLOGY

Econet tells disgruntled banks to 'Invest in your own EcoCash'

Econet Wireless Zimbabwe Chie Executive Officer Douglas Mboweni has told banks that reluctant join EcoCash for their mobile money transfer services to invest in their own network instead of lobbying ...

By Staff reporter | Published: 17 September 2013

MINING & RETAIL

EU to lift sanctions on Zimbabwe firm

The European Union has agreed to lift sanctions on a Zimbabwean diamond-mining firm despite concerns over alleged fraud in a July election that kept President Robert Mugabe in power, the EU said on Tu...

By Reuters | Published: 17 September 2013

INDUSTRIALS & ENERGY

Safeguard introduces revolutionary new note-counting safe

Safeguard Engineering has introduced a revolutionary new automated safe that counts cash in any denominations, deposits the money into a removable bag locked securely inside it and issues a receipt fo...

By Chris Chinamhora | Published: 17 September 2013

MINING & RETAIL

Aquarius bosses agree to pay cuts

Aquarius Platinum has cut its chief executive Jean Nel's salary by 30% and imposed a 10% slash of directors' fees as part of measures to contain "cash corporate costs". The platinum group metals produ...

By Staff reporter | Published: 17 September 2013

LANDS & AGRICULTURE

Hippo Valley to increase exports

Hippo Valley Estates Limited (Hippo Valley) says it is targeting to export more than 217 000 tonnes of sugar to the European Union (EU), as a way of boosting the company's earnings. Last year, the su...

By Staff reporter | Published: 17 September 2013

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

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