MINING & RETAIL

RioZim records net loss of US$2,3m

One of the country's top gold producers, RioZim reported a net loss of US$2,3 million in the year ended December 2018 from a net profit of US$8,1 million in 2017 due to a 13% decline in gold output.Th...

By Staff reporter | Published: 30 April 2019

TRANSPORT & TOURISM

RTG goes regional to raise forex

Hotelier, Rainbow Tourism Group (RTG) is working on securing management contracts for hotels in the region as part of measures to augment the company's capacity to generate foreign currency.RTG chief ...

By Staff reporter | Published: 30 April 2019

FINANCIAL SERVICES

Zimbabwe's outlook remains bleak - Stanbic

STANBIC Bank Zimbabwe reported a 42% increase in after-tax profit to US$39,15 million in the year to December 2018, but the bank has warned that growth prospects for 2019 remain weak.In a statement ac...

By Staff reporter | Published: 30 April 2019

LANDS & AGRICULTURE

Cotton industry targets $1 billion earnings annually

THE Cotton Company of Zimbabwe (Cottco) plans to put a minimum of 100 000 hectares across the country under commercial cotton farming with the sector poised to generate a minimum of US$1 billion annua...

By Staff reporter | Published: 30 April 2019

INDUSTRIALS & ENERGY

Delta snaps up 50,1% stake in Afdis

LEADING beverages maker, Delta Corporation, has consolidated its stake in African Distillers Limited (Afdis) after acquiring 50,1 percent share ownership, management has said. Delta Southern Region ge...

By Staff reporter | Published: 30 April 2019

BUSINESS NEWS

'Private sector frustrates interbank system'

INDUSTRY and Commerce Minister Mangaliso Ndlovu has blamed the private sector for frustrating the success of the interbank foreign currency market by shifting goal posts and blaming Government for the...

By Staff reporter | Published: 30 April 2019

TRANSPORT & TOURISM

Air Zimbabwe engineers probe fire incident

Air Zimbabwe engineers have launched investigations into the cause of an engine malfunction that resulted in a "brief" tail pipe fire on its Boeing 767-200ER on its way from Johannesburg, South Africa...

By Staff reporter | Published: 30 April 2019

TRANSPORT & TOURISM

Air Zimbabwe assures safety despite fire incident

Air Zimbabwe has assured the nation and the international  community of its commitment to the safety of passengers despite its only aircraft, the Boeing 767 200 ER had a fire spark mid-air on Fri...

By Staff reporter | Published: 29 April 2019

INDUSTRIALS & ENERGY

Silo realises high profits from small grains

THE unbundling of the Grain Marketing Board (GMB) under the Government's public enterprise reform programme is already paying dividend, with Silo Food Industries realising high profits from small grai...

By Staff reporter | Published: 29 April 2019

MINING & RETAIL

Murowa begins diamond exploration in Chivi

MUROWA Diamonds has started exploration for gems in Sese communal lands in Chivi in Masvingo province where the firm has nearly 200 claims. Murowa mines diamonds in Zvishavane in the Midlands but has ...

By Staff reporter | Published: 29 April 2019

TELECOMS & TECHNOLOGY

'The future of industry is digital'

LISTED technology services firm, Cassava Smartech Zimbabwe, has challenged manufacturing industries in the country to embrace digital platforms and modern ways of doing business to match global trends...

By Staff reporter | Published: 29 April 2019

MINING & RETAIL

Miners urge Fidelity to review gold price

Small-scale gold producers in Masvingo province have welcomed the recent price increase of the yellow metal on the world market and pleaded with Fidelity Printers and Refiners (FPR) to localise the in...

By Staff reporter | Published: 29 April 2019

FINANCIAL SERVICES

Agribank on schedule for $100m capitalisation

AGRICULTURE development bank, Agribank says it expects to attain US$100 million capitalisation by January 2020, predominantly for agriculture financing and development. This development comes on the b...

By Staff reporter | Published: 29 April 2019

MINING & RETAIL

Zimbabwe eyes deals at Arab African mining conference

Stakeholders in the mining industry will in June convene in London for the third annual Arab African Mining Conference Exhibition where Zimbabwe is anticipating to strike mega deals for the mining sec...

By Staff reporter | Published: 29 April 2019

INDUSTRIALS & ENERGY

Total Zimbabwe courts controversy

ONE of the country's largest petroleum companies, Total Zimbabwe has infuriated a number of its dealers, who are alleging that the company is willy-nilly changing the terms of their contracts.The deal...

By Staff reporter | Published: 28 April 2019

FINANCIAL SERVICES

MetBank names Marandure new chairperson

METBANK has announced the appointment of a new chairperson who takes over from Wilson Manase whose tenure has expired.In a statement, the bank said Darlick Marandure took over from Manase in June 2018...

By Staff reporter | Published: 28 April 2019

LANDS & AGRICULTURE

Glitter of golden leaf eludes farmers

Since the beginning of the tobacco marketing season on March 20 this year, the disappointment by expectant farmers continues to grow by the day.A toxic cocktail of low prices - despite an arguably qua...

By Staff reporter | Published: 28 April 2019

CONSTRUCTION & PROPERTY

Currency crisis hits real estate sector

Zimbabwe's real estate sector is under immense pressure to review rentals in response to the country's deteriorating economy, which has resulted in rising operating costs, defaults and voids.First Mut...

By Staff reporter | Published: 28 April 2019

TELECOMS & TECHNOLOGY

Data tariffs soar as Zimbabwe crisis bites

Mobile network operators became the latest sector to increase prices for their products with an upward adjustment of tariffs for broadband services following the floating of the country's local curren...

By Staff reporter | Published: 28 April 2019

BUSINESS NEWS

12 companies worth $1,8bn licensed for SEZs

Twelve private companies that have cumulative investment portfolios worth more than $1,8 billion have been licensed to operate ventures ranging from mining to beverage manufacturing in specially desig...

By Staff reporter | Published: 28 April 2019

MINING & RETAIL

Zimbabwe to announce more PGM investors

Government will, in the next few weeks, announce at least two more investors that are expected to deploy huge foreign capital in the country's platinum sector as scores of local and foreign investors ...

By Staff reporter | Published: 28 April 2019

TRANSPORT & TOURISM

Air Zimbabwe to import spares duty free

ONGOING efforts to turnaround the operations of Air Zimbabwe have received further boost following revelations that Government recently extended the dispensation for the national air carrier to import...

By Staff reporter | Published: 28 April 2019

BUSINESS NEWS

Corporate 24 Medical Aid launches new package

CORPORATE 24 Medical Aid has launched a new package meant for low-income earners called Ndine Plan.The medical aid package has three plans - Gold, Standard and Lite - which are meant for different seg...

By Staff reporter | Published: 27 April 2019

TRANSPORT & TOURISM

African Sun records $10,1m profit

AFRICAN Sun says it recorded a 110 percent increase in profit to $ 10,135 million during the year ended December 31, 2018 compared to $4,816 million achieved in prior period driven by both an increase...

By Staff reporter | Published: 27 April 2019

LANDS & AGRICULTURE

Zimbabwe tobacco sales moving slowly amid disgruntlement

At least 29.3 million kilograms of tobacco worth about 51.1 million U.S. dollars have been sold so far at auction and contract floors as the marketing season is moving slowly due to pricing concerns b...

By Xinhua | Published: 27 April 2019
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