INDUSTRIALS & ENERGY

Boeing plans Zimbabwe base

The world's largest aircraft manufacturer, Boeing Company, plans  to set up base in Zimbabwe that will provide training and expert technical services to companies operating different versions of ...

By Staff reporter | Published: 15 June 2018

BUSINESS NEWS

Civil servants pay rise to increase inflation

RESEARCH firm IH Equities has said that the 15 percent salary adjustment for civil servants will spur demand in the retail sector pushing up the performances of operators in that area, while adding in...

By Staff reporter | Published: 15 June 2018

INDUSTRIALS & ENERGY

Turnall on recovery path

SALES volumes at the Zimbabwe Stock Exchange-listed plumbing materials producer Turnall Holdings Limited surged 70 percent during the first months to May, as product availability improved in Zimbabwe,...

By Staff reporter | Published: 15 June 2018

CONSTRUCTION & PROPERTY

IDBZ sitting on $36m housing portfolio

AFTER servicing and delivering 1 061 housing stands, the Infrastructure Development Bank of Zimbabwe (IDBZ) is presently servicing 4 227 housing stands valued at $36 million, the State-owned group sai...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

More locomotives for NRZ

THE National Railways of Zimbabwe (NRZ) has received additional locomotives and wagons under the equipment deal with Transnet of South Africa.The equipment is part of a deal struck with the Diaspora I...

By Staff reporter | Published: 15 June 2018

TELECOMS & TECHNOLOGY

Close digital divide, says POTRAZ

THERE is a need to upscale the utility of wireless resources to close the digital divide in Zimbabwe and other African countries, Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ...

By Staff reporter | Published: 15 June 2018

MINING & RETAIL

Moti, Sakunda give small miners $50m

AFRICA Chrome Fields (ACF) owners, the Moti Group, and local fuel group Sakunda Holdings have partnered to fund a $50 million small-scale chrome miners support facility.Through a programme called Zimb...

By Staff reporter | Published: 15 June 2018

LANDS & AGRICULTURE

Seed demand to remain unchanged

Demand for seed in the 2018/2019 season will remain unchanged because the Command Agriculture programme will still likely be in place, financial analysts IH Securities have said.In an analysis of Seed...

By Staff reporter | Published: 15 June 2018

INDUSTRIALS & ENERGY

PepsiCo mulls Zim snack plant

AMERICAN conglomerate PepsiCo is looking at Zimbabwe among three other countries in the region to set up a snack plant.Speaking to NewsDay after the launch of the Pepsi plant under Varun Beverages Zim...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

RTG banks on elections

THE Rainbow Tourism Group (RTG) is banking on next month's general elections to boost its revenues further after posting a 16% increase in revenue to $11,1 million in the first five months of the year...

By Staff reporter | Published: 15 June 2018

MINING & RETAIL

'Hwange should give workers houses in lieu of salary arrears'

THE Parliamentary Portfolio Committee on Mines and Energy has recommended that Hwange Colliery and Kamativi Mine give their houses to former and current workers in lieu of salary and pension arrears.T...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

Tourism pushes for VAT review

The tourism sector is optimistic it has the ammunition to force government review the 15% value added tax (VAT) on foreign accommodation which the sector blames for making Zimbabwe uncompetitive as a ...

By Staff reporter | Published: 15 June 2018

INDUSTRIALS & ENERGY

Ziscosteel requires $1bn to kickstart operations

PARLIAMENT has recommended that the country's rail system should be repaired to enable transportation of coal supplies to companies such as Ziscosteel.This came out in a report on Ziscosteel which was...

By Staff reporter | Published: 15 June 2018

INDUSTRIALS & ENERGY

Bulawayo tyre manufacturer seeks investors

DEFUNCT Bulawayo-based tyre manufacturer Auto Tyres Zimbabwe needs about $12 million working capital to resuscitate operations, an official has said.Formerly, Dunlop Zimbabwe, the giant firm stopped p...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

RTG revenue up 16%

Rainbow Tourism Group (RTG) revenue for the first five months this year has gone up 16 percent to $11,1 million from $9,6 million  during the same period last year due to improved occupancy acros...

By Staff reporter | Published: 15 June 2018

MINING & RETAIL

ZCDC grows balance sheet

STATE-owned diamond mining firm, Zimbabwe Consolidated Diamond Company (ZCDC) has grown its balance sheet to almost $250 million on the back of an intensive investment drive that sought to build asset...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

ZTA appoints VFS Global to promote Zimbabwe

In a move to enhance destination awareness and foster market visibility, the Zimbabwe Tourism Authority (ZTA) has appointed VFS Global to promote Zimbabwe as a preferred tourism destination in both In...

By Agencies | Published: 14 June 2018

MINING & RETAIL

Gold output hits 13.3 tonnes

Zimbabwe's gold production continues to increase after hitting 13.3 tonnes in the five months to May this year which is already higher than the 9.9 tonnes achieved during the first half last year.Stat...

By Staff reporter | Published: 14 June 2018

FINANCIAL SERVICES

Trade credit risks discussed at Zimnat conference

The majority of trade transactions across the world are conducted on open account terms, supported by a purchase order and invoice with mutually agreed payment terms as the basis for trust, according ...

By Agencies | Published: 14 June 2018

INDUSTRIALS & ENERGY

Pepsi boss bemoans forex shortages

Zimbabwe needs to fix its foreign exchange shortage if it is to attract more investment, RJ Corporation chairperson Ravi Jaipuria said.RJ Corporation owns Varun Beverages which in turn holds the Pepsi...

By Staff reporter | Published: 14 June 2018

TELECOMS & TECHNOLOGY

Telecel ownership storm brewing

A STORM has rocked Telecel Zimbabwe over its ownership structure, as two directors James Makamba and Gerald Mlotshwa, are both claiming chairmanship of the country's third largest telecoms group.Makam...

By Staff reporter | Published: 14 June 2018

INDUSTRIALS & ENERGY

Mnangagwa commissions $30m Pepsi plant

President Mnangagwa yesterday commissions a $30 million Varun Beverages plant in Harare and called for more foreign companies to be part of the country's new economic drive aimed at upgrading people's...

By Staff reporter | Published: 14 June 2018

INDUSTRIALS & ENERGY

Zimbabwe launches motor industry policy

Government has launched the Zimbabwe Motor Industry Development Policy (ZMIDP) that is expected to see the sector ramping up capacity from the current levels of under 10 percent to full capacity by 20...

By Staff reporter | Published: 14 June 2018

MINING & RETAIL

Greatermans to lose property

Once Zimbabwe's iconic departmental store, Greatermans Stores, is set to lose various electrical goods over a long standing debt to a local company.Greatermans Stores closed shop a few years ago to pa...

By Staff reporter | Published: 13 June 2018

INDUSTRIALS & ENERGY

Zambezi Gas, Makomo brawl over claims

ZAMBEZI Gas, a coal mining firm in Hwange, is breathing fire over its loss of 11 720 hectares of land allegedly to Makomo Resources under unclear circumstances.Owned by locals, some of whom have opera...

By Staff reporter | Published: 13 June 2018
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