FINANCIAL SERVICES

Ipec reads riot act to insurance firms

Businesses in the insurance industry that fail or delay paying out claims of admitted liabilities under any policies risk having their operating licences cancelled as stipulated at law, according to t...

By Staff reporter | Published: 26 April 2019

MINING & RETAIL

Vast completes sale of Zimbabwe gold assets

VAST Resources Plc (Vast) says it has now completed the sale of its 25 percent shareholding in Pickstone Peerless Gold Mine in Zimbabwe as it focuses on its new diamond concession at Chiadzwa.The Lond...

By Staff reporter | Published: 25 April 2019

BUSINESS NEWS

Industry sweats over drop in aggregate demand

MANUFACTURING industries have expressed concern over the recent drop in aggregate demand saying this has a knock-on effect on production levels and investment by local companies.The captains of indust...

By Staff reporter | Published: 25 April 2019

BUSINESS NEWS

Cassava ventures into trucking business

LISTED technology solutions firm, Cassava Smartech Zimbabwe, yesterday launched the Vaya logistics unit, an additional entity that deals with delivery trucks and van services under its Vaya division.T...

By Staff reporter | Published: 25 April 2019

BUSINESS NEWS

Plunging economy hammers business

Zimbabwe's shrinking economy- compounded by skyrocketing inflation, the escalating cost of doing business and surging parallel foreign exchange rates is worsening the plight of commerce and industry i...

By Staff reporter | Published: 25 April 2019

INDUSTRIALS & ENERGY

Cooking oil shortages loom

Zimbabwe will experience serious cooking oil shortages in the coming weeks as foreign currency shortages have affected the importation of crude oil, leaving oil expresses producing a fifth of the 9 mi...

By Staff reporter | Published: 25 April 2019

MINING & RETAIL

Zimbabwe gold exports dip 17%

Zimbabwe's gold exports receipts were down 17 percent to US$273.5m in the first quarter of the year due to low deliveries attributed to reduced foreign retention threshold. In the quarter 6.5 tonnes o...

By Staff reporter | Published: 25 April 2019

MINING & RETAIL

CCTV sells out diamond-thieving guard

A SECURITY guard at the Zimbabwe Consolidated Diamond Company (ZCDC) premises was arrested for stealing five pieces of the precious stone after he was sold out by the closed circuit television (CCTV)....

By Staff reporter | Published: 25 April 2019

FINANCIAL SERVICES

Steward Bank partners Chinese card firm UPI for financial card services

STEWARD Bank has partnered Chinese financial services firm, UnionPay International (UPI), to provide payment services for Zimbabweans travelling between the southern African country and Beijing."Basic...

By Staff reporter | Published: 25 April 2019

BUSINESS NEWS

REA launches master plan for rural electrification

THE Rural Electrification Agency (REA) has come up with a master plan for the electrification of rural areas guided by a geographic information system (GIS) to avoid wasting resources.The master plan ...

By Staff reporter | Published: 25 April 2019

BUSINESS NEWS

Zesa re-bundling part of parastatals reforms, says Chiwenga

THE re-bundling of Zesa and merger of its five previously separate entities into a single integrated company will cut overhead costs and boost power generation efficiency, Vice President Constantino C...

By Staff reporter | Published: 25 April 2019

BUSINESS NEWS

Mthuli Ncube laments indisciplined speculation

FINANCE and Economic Development Minister, Professor Mthuli Ncube, says the wave of price increases being experienced on the market and the wild parallel market exchange rates have no economic justifi...

By Staff reporter | Published: 25 April 2019

MINING & RETAIL

Zimbabwe to pursue local lithium beneficiation

Zimbabwe intends to vigorously pursue local value addition of its lithium resources to maximise export earnings from the mineral, a Cabinet Minister has said. Lithium is used to make various items inc...

By Staff reporter | Published: 25 April 2019

INDUSTRIALS & ENERGY

Turnall explores export markets

Zimbabwe Stock Exchange (ZSE) listed roofing and building materials manufacturer, Turnall Holding, intends to increase its product range to include production and supply of non-asbestos roofing materi...

By Staff reporter | Published: 25 April 2019

TELECOMS & TECHNOLOGY

'Zimbabwe mobile data tariffs lowest'

Zimbabwe has some of the lowest mobile data tariffs in the region, figures from the Communication Regulators Association of Southern Africa (CRASA) country report for 2018 show. According to the CRASA...

By Staff reporter | Published: 25 April 2019

MINING & RETAIL

Tundiya's company diverts ZPC’s 1 003 tonnes of coal

A FORENSIC audit on Hwange Colliery Company Limited (HCCL) has unearthed serious irregularities, where a haulage company owned by Shepherd Tundiya diverted about 1 003 tonnes of coal meant for the Zim...

By Staff reporter | Published: 24 April 2019

BUSINESS NEWS

Fuel prices up again

DESPITE government castigating business for over-pricing, there is likely to be no respite for the embattled consumer anytime soon as the price of fuel continues to go up, almost on a weekly basis.A s...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Mine to lose equipment

EQUIPMENT belonging to Eldorado Mine in Chinhoyi will today go under the hammer to settle a debt owed to one of the country's leading security firms.The Chinhoyi High Court has instructed the sheriff ...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Premier terminates Zimbabwe acquisition

PREMIER African Minerals (Premier) says it has terminated its proposed acquisition of a 50 percent stake of KME Plant and in Honey Badger Resources (HBR) due to ongoing uncertainty over the future of ...

By Staff reporter | Published: 24 April 2019

INDUSTRIALS & ENERGY

Fertiliser manufacturers to engage RBZ over foreign currency support

GOVERNMENT has been called upon to channel foreign currency towards the manufacturer of fertlisers in order to preserve jobs and prevent damage to soil by imported chemicals.This came out in a stateme...

By newzimbabwe | Published: 24 April 2019

BUSINESS NEWS

China's Tsingshan expands plans for Zimbabwe steel plant

China's Tsingshan Holding Group has expanded its plans for a steel plant in Zimbabwe to include a power plant and a lithium concession, Zimbabwe's Mines Minister Winston Chitando said on Tuesday.Presi...

By Reuters | Published: 24 April 2019

FINANCIAL SERVICES

Agribank targets $50m in foreign credit lines

AGRIBANK is targeting between US$40 million and US$50 million in fresh lines of credit from international financial institutions for on-lending to exporters, the bank's chief executive Sam Malaba has ...

By Staff reporter | Published: 24 April 2019

BUSINESS NEWS

'ZIDA Bill to improve ease of doing business'

THE Zimbabwe Investment and Development Agency (ZIDA) Bill gazetted early this month will among other things, seek to curb environmental degradation by big investment projects.The Bill is aimed at imp...

By Staff reporter | Published: 24 April 2019

FINANCIAL SERVICES

Afreximbank disburses €100m to Mota-Engil Africa

Regional lender, African Export-Import Bank (Afreximbank) has disbursed a €100 million facility to a revolving global credit facility to support Mota-Engil Africa implement key developmental project...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Mnangagwa pens $5 billion mining deal

PRESIDENT Emmerson Mnangagwa's government has inked what it has termed a major mining investment deal with Chinese company, Tsingshan Holdings.The deal, signed by Mines minister Winston Chitando and T...

By Staff reporter | Published: 24 April 2019
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