MINING & RETAIL

Glencore shares rebound on $1bn buybacks

Glencore will buy back as much as $1bn of its shares, a move that may soothe investors' concerns after the world's top commodity trader was hit by a US Department of Justice probe earlier this week.Th...

INDUSTRIALS & ENERGY

Zim requires $15bn for power projects

The Zimbabwe Energy Regulatory Authority (ZERA) says the country requires a total of $15 billion to rehabilitate existing power plants and develop new energy projects in order to meet the demand proje...

FINANCIAL SERVICES

Absa's new logo

With Absa gearing up to 'relaunch' with a new look and corporate identity next week, pending trademark registrations with the Companies and Intellectual Property Commission have revealed what the grou...

INDUSTRIALS & ENERGY

Brands and stores affected by Edcon's new recovery plan

Edcon Holdings' latest recovery plan includes closing chains including Red Square cosmetics and La Senza lingerie and attempting to lure their customers to its flagship Edgars clothing stores.The move...

FINANCIAL SERVICES

British banker opens stockbroking firm in Zim

A consortium of British fund managers, led by Nigel Little, has been approved to open stockbroking firm in Zimbabwe.The new stockbroking firm Morgan & Co. has been issued with a trading licence b...

INDUSTRIALS & ENERGY

More fuel price hikes coming

MOTORISTS should brace for more fuel price hikes as oil prices continue to move northwards while government insists on controlling the fuel industry and maintaining a myriad of taxes on the sector, a ...

MINING & RETAIL

Chrome, nickel rebound

NICKEL and chrome rebounded in the first three months of the year, buoyed by recovering international prices, the Reserve Bank of Zimbabwe (RBZ) has said.Latest central bank data indicates that nickel...

MINING & RETAIL

RioZim bemoans 'punitive' royalties

ROYALTIES on Zimbabwean-mined diamonds have remained punitive, scaring away investors and disadvantaging local players, diversified resources firm RioZim has said.The firm's chief executive officer Bh...

Starafrica battles to stem crisis

Starafrica has registered a steep rise in revenue despite experiencing significant balance sheet stress in the year to March 31 018. In a note to shareholders accompanying the financial results which ...

Zim's coffee sector collapses

GOVERNMENT is working on a plan to rebuild the coffee sector after output plummeted from almost 15 000 metric tonnes (mt) in 1989 to less than 200 mt in the past few years.According to a paper titled ...

MINING & RETAIL

Falgold pins hopes on industry reforms

Zimbabwe Stock Exchange listed gold producer Falcon Gold says the local gold production industry could grow significantly if government effects reforms on the tariff and tax regime. The country's mini...

FINANCIAL SERVICES

Motor, fire policies add spark to non-life insurers' earnings

Profit after tax for non-life insurers more than trebled to $33,63 million in 2017 from the previous year aided by a growth in gross premium written (GPW) and investment income, a new report by the in...

FINANCIAL SERVICES

Banks to prioritise importers over depositors

BANKERS Association of Zimbabwe (BAZ) vice-president Benefit Washaya says banks were still to decide whether they should continue importing cash to distribute to the depositors considering that the mo...

INDUSTRIALS & ENERGY

Canning industry set for rebound

The canning industry in Zimbabwe is set for a rebound after the introduction of demand-driven bean cultivar needed for production of canned beans, an official has said.Department of Research and Speci...

LANDS & AGRICULTURE

Cotton price increased to 52c/kg

COTTON farmers in Gokwe are smiling all the way to the bank after the producer price of the crop rose to 52 cents per kilogramme from 49 cents.Addressing cotton farmers in Nyanje area in Gokwe South o...

MINING & RETAIL

Prolonged job action cripples Falgold operations

LISTED mining group, Falcon Gold (Falgold) Zimbabwe, says its operations in the half year ended March 31, 2018 have been largely affected by a strike which lasted for three months at its Golden Quarry...

MINING & RETAIL

Govt to transform Hwange Colliery

VICE President General Constantino Chiwenga (Rtd) yesterday said Government has put in place a raft of measures for Hwange Colliery Company Limited to return to its status as one of the biggest employ...

FINANCIAL SERVICES

Medical aid firm targets informal sector

FAST-growing Gweru-based medical aid company, Zimbabwe General Medical Aid Fund (ZG Medical) has begun tapping into the country's vast jobless market, which is usually neglected by most insurance and...

FINANCIAL SERVICES

Stanbic responds to clients

Stanbic Bank Zimbabwe has responded to requests by its clients in the capital to add Harare City Council as a biller on its digital platforms for ease of settling bills. Head of Personal and Business ...

FINANCIAL SERVICES

Agribank splashes $1m on ICT upgrade

AGRIBANK has so far spent $1,1 million on information communication technology (ICT) infrastructure hardware, as it presses ahead with efforts to ensure system stability and provide more functions for...

INDUSTRIALS & ENERGY

NTS mixed sourcing pays off

National Tyre Services (NTS) says its mixed bag strategy to supplement direct sourcing with local supplies and pushing sales of premium products to improve margins has started paying dividend.This was...

TELECOMS & TECHNOLOGY

EcoCash glitches: POTRAZ seeks answers

The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has engaged Econet to seek clarification over the breakdown of their mobile transaction platform that plunged business to a ...

CONSTRUCTION & PROPERTY

Strike looms in construction sector

A crippling strike is looming in the construction sector over failure by employers to increase salaries by three percent.This follows a March 27 agreement whereby the employers made an undertaking to ...

LANDS & AGRICULTURE

Zim tobacco output hit all-time high

Eighteen years after the collapse of Zimbabwe's agriculture sector in the wake of former President Robert Mugabe's land grab programme, tobacco production has hit a record 207 million kg, with black f...

INDUSTRIALS & ENERGY

Colcom reverting to original pork pie

Zimbabwe's largest meat processor Colcom Foods has bowed down to public pressure and announced it is working on plans for alternative means of producing a pie that includes the aspects of the "origina...