TRANSPORT & TOURISM

Air Zimbabwe's 'Mbuya Nehanda' grounded for maintenance

Air Zimbabwe yesterday grounded Mbuya Nehanda, a Boeing 737-200ER, for mandatory maintenance expected to last over a month. The airline has largely been operating two serviceable aircraft and whenever...

By Staff reporter | Published: 31 December 2018

INDUSTRIALS & ENERGY

Zimbabwe makes huge saving on energy

Zimbabwe's energy import bill has dropped to about $1,2 million monthly from at least $48 million as efforts to invest in local electricity generation to underpin the envisaged economic growth begin t...

By Staff reporter | Published: 30 December 2018

INDUSTRIALS & ENERGY

United Refineries gets export permit

ONE of the country's leading cooking oil and soap manufacturers, United Refineries Limited (URL) will resume cooking oil exports to Namibia soon as it forges ahead to grow its foreign currency coffers...

By Staff reporter | Published: 30 December 2018

TRANSPORT & TOURISM

Zimbabwe tourism sector grosses $1 billion

Considerable dividends have begun to accrue to Zimbabwe as Government and the private sector continue to ratchet up efforts to promote Zimbabwe as a safe destination. The tourism sector has since gros...

By Staff reporter | Published: 30 December 2018

INDUSTRIALS & ENERGY

ZPC to spend $500m on Hwange

The Zimbabwe Power Company intends to spend more than $500 million rehabilitating Hwange Power Station units 1 to 5 to guarantee reliability and extend its lifespan by between 15 to 20 years. The proj...

By Staff reporter | Published: 30 December 2018

MINING & RETAIL

Mnangagwa to commission $62m Unki processing plant

President Mnangagwa is expected to commission Shurugwi-based Anglo-American platinum miners, Unki Mine's $62 million platinum processing plant next month. Construction of the plant began in 2016 an...

By Staff reporter | Published: 29 December 2018

MINING & RETAIL

Meikles companies to go under the hammer over debt

MEIKLES stands to lose its shareholding in several of its subsidiaries after a High Court dismissed its application challenging the attachment of its shares by the sheriff over a $1,5 million debt owe...

By Staff reporter | Published: 24 December 2018

INDUSTRIALS & ENERGY

NTS after tax profit doubles

NATIONAL Tyre Services (NTS) reported an increase in profit after tax to $337 051 for the half year to September, but the company fears that fiscal and other monetary measures introduced by authoritie...

By Staff reporter | Published: 24 December 2018

INDUSTRIALS & ENERGY

SeedCo works on developing local rice seed

GIANT seed house, SeedCo says it is working on developing rice varieties suitable for local climatic conditions to reduce the country's reliance on imports. Naturally the cereal originates in tropical...

By staff reporter | Published: 24 December 2018

TELECOMS & TECHNOLOGY

Zimbabwe start-up targets foreign market

A Zimbabwean start-up, Flexi Africa, has set up an online trade platform which links local vendors to international markets.Flexi Africa chief executive Gerald Nyamadzawo told Standardbusiness that th...

By Staff reporter | Published: 23 December 2018

TELECOMS & TECHNOLOGY

Shares in Liquid are like $135m cash, says Mboweni

Econet Wireless Zimbabwe (EZW) CEO Douglas Mboweni has described the company's equity stake in Liquid Telecom Holdings, which is just under 10% as "a US$135 million forex reserve".Speaking about the f...

By Staff reporter | Published: 23 December 2018

INDUSTRIALS & ENERGY

Delta shuts soft drink plants

ZIMBABWE is headed for a dry festive season as stocks of soft drinks are expected to run out after Delta beverages shut down its plants citing inadequate foreign currency to keep them running.Delta, t...

By Staff reporter | Published: 23 December 2018

FINANCIAL SERVICES

Empower Bank to introduce agency banking

EMPOWER Bank has set sights at introducing agency bank as part of its efforts to reach out to all marginalised youths across the length and breadth of the country.Empower Bank head of marketing Mrs Ch...

By Staff reporter | Published: 23 December 2018

INDUSTRIALS & ENERGY

Indian firm to set up $40 million textile plant in Bulawayo

ONE of India's biggest and international acclaimed textile firms Shreejikrupa Spinners is considering investing over $40 million towards setting up a plant in Bulawayo soon.Industry and Commerce Deput...

By Staff reporter | Published: 23 December 2018

TELECOMS & TECHNOLOGY

Vandalism costs TelOne

DIVERSIFIED telecommunications firm, TelOne, has lost over US$3 million in the 10 months to October this year due to vandalism of network infrastructure.Of the US$3 million, US$2, 2 million was in los...

By Staff reporter | Published: 23 December 2018

TRANSPORT & TOURISM

Zimbabwe hotels named among Africa's best

DESTINATION Zimbabwe continues to attract world attention as some of its hotels have been named among the best in Africa. Recently Frommer and National Geographic Traveller named Zimbabwe as one of th...

By Staff reporter | Published: 21 December 2018

INDUSTRIALS & ENERGY

Simbisa Brands discounts US$ customers

LISTED quick-service restaurant business, Simbisa Brands, has resolved to offer discounts on its prices to customers who pay in US dollars to enhance the entity's foreign currency earnings. In an oper...

By Staff reporter | Published: 21 December 2018

MINING & RETAIL

Government mulls incentives for Zimplats

GOVERNMENT has pledged to provide fiscal incentives to Zimplats in recognition of its efforts to set up a refinery for base metals and precious stones to promote beneficiation of the minerals. Unki an...

By Staff reporter | Published: 21 December 2018

TELECOMS & TECHNOLOGY

Telecoms sector posts 9,2% profit

Zimbabwe's postal and telecommunications sector registered a 9,2 percent revenue growth in the third quarter to September, 2018 on the back on increased usage of data and internet. In its Postal Telec...

By Staff reporter | Published: 21 December 2018

MINING & RETAIL

Mnangagwa commissions diamond mining plant

President Mnangagwa yesterday commissioned a Zimbabwe Consolidated Diamond Company (ZCDC) crushing plant here, marking the country's transition from alluvial to conglomerate diamond mining as he warne...

By Staff reporter | Published: 21 December 2018

LANDS & AGRICULTURE

Seed-Co developing rice varieties

Regional seed producer Seed-Co says it is working on developing rice varieties suitable for the local climatic conditions in order to scale back the country's reliance on rice imports.Naturally, the c...

By Staff reporter | Published: 19 December 2018

MINING & RETAIL

Miner lays contempt of court charge against Nyambirai

GOROMONZI miner Phillip Makanya has petitioned the High Court to charge businessman Tawanda Nyambirai with contempt of court for ignoring a court order barring him from interfering with his mining act...

By Staff reporter | Published: 19 December 2018

BUSINESS NEWS

Firm seeks to recover land from defunct AfrAsia Bank

A LOCAL firm, Drummond Zimbabwe Holdings (Pvt) Ltd, has petitioned the High Court seeking an order to be allowed to file litigation against AfrAsia Bank Limited, a subsidiary of Mauritius-based AfrAsi...

By Staff reporter | Published: 19 December 2018

TELECOMS & TECHNOLOGY

Cassava makes history

Cassava SmarTech Zimbabwe made history yesterday when it debuted in the market at a price of $1,50 per share, valuing the company at $3,8 billion. It immediately became Zimbabwe's third most valuable ...

By Staff reporter | Published: 19 December 2018

INDUSTRIALS & ENERGY

Forex shortage: Innscor looks within

DIVERSIFIED group, Innscor Africa Limited says it is now leveraging on its domestic fast-moving consumer goods line to cushion itself from high foreign currency requirements. The company said although...

By Staff reporter | Published: 19 December 2018
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