Zim's warrant of arrest haunts Chinese tycoon

Chinese national Yat Hoi Ning, who is accused of ripping off a mining company listed in London of US$2,76 million, has scored a lucrative deal from the South African government.In September last year,...

MINING & RETAIL

Cornered Hwange boss negotiates exit package

HWANGE Colliery Company Limited (HCCL)'s suspended managing director Thomas Makore has reportedly opened negotiations for an exit package after the board shelved plans for him to face disciplinary act...

MINING & RETAIL

Chrome output up in first quarter

ZIMBABWE'S chrome ore production increased six fold to 139 562,34 tonnes in the first four months of the year compared to 18 701,70 tonnes produced during the same period last year, official figures s...

TRANSPORT & TOURISM

NRZ narrows salary arrears

THE National Railways of Zimbabwe (NRZ) is now paying its workers 90 percent of their full salaries up from 50 percent in recent months driven by improved business operational efficiency.The parastata...

INDUSTRIALS & ENERGY

Proplastics maintains strong performance

PLASTIC pipes and fittings manufacturer, Proplastics Limited had a strong performance in the first four months of the year to April 2018 with revenue coming out 86 percent ahead of same period last ye...

INDUSTRIALS & ENERGY

Borrowings plague Nampak

Zimbabwe Stock Exchange listed packaging company Nampak Zimbabwe (Nampak) remains troubled by a $9,3 million short-term borrowings relating to a facility owed to parent Nampak International Holdings.A...

FINANCIAL SERVICES

Court lifts ban on cryptocurrencies

CRYPTOCURRENCY exchange giant, Bitfinance (Private) Limited, which was last week banned from operating in Zimbabwe, will now resume its business with the blessings of the High Court.High Court judge J...

INDUSTRIALS & ENERGY

RioZim to sell majority stake in Sengwa plant

RioZim Limited intends to sell majority shareholding to an investor who wins its tender to construct an ambilion thermal power station in Sengwa, Gokwe North, according to company sources. ZSE listed ...

TELECOMS & TECHNOLOGY

Swipe into EcoCash service available

ECONET Wireless Zimbabwe (Private) Limited, the parent company of EcoCash and Steward Bank, advised its customers and the transacting public on Tuesday that the Swipe into EcoCash service was availabl...

TELECOMS & TECHNOLOGY

James Makamba dribbles Mlotshwa, partners

Another bruising battle is looming at Telecel Zimbabwe (Private) Limited (Telecel) as company chairman James Makamba has furtively sought to eject one of his Empowerment Corporation (EC) partners and ...

TELECOMS & TECHNOLOGY

Telcos urged to be innovative

TELECOMMUNICATION companies have been urged to come up with ways to mitigate declining revenue caused by increased use of over-the-top (OTT) voice applications, which have resulted in voice and data t...

MINING & RETAIL

Zisco Bill awaits presidential assent

THE Zimbabwe Iron and Steel Company (Zisco) Debt Assumption Bill is now awaiting presidential assent after being approved by the Senate last week.Finance Minister Patrick Chinamasa indicated that gove...

MINING & RETAIL

Lithium rush to raise commodity risk exposure

PLANS to expand Zimbabwe's lithium operations could increase the country's commodity risk exposure, the World Bank has said.In a report published last month, the World Bank said the southern African c...

BUSINESS NEWS

ZESA saves $1m by curbing power thefts

ZESA Holdings has managed to save revenue amounting to $998 228,87 after successfully implementing pro-active and reactive strategies to curb illicit losses.The power utility's public relations manage...

MINING & RETAIL

ENR courts lithium mines

KADOMA-based base metals processor, Empress Nickel Refinery (ENR), says it is eying huge opportunities for toll processing that has emerged in Zimbabwe's new lithium mines.Lithium has emerged as one o...

TELECOMS & TECHNOLOGY

Non-residents dominate Zim patent applications

A NEW report by the United Nations Conference on Trade and Development (Unctad) has established that better intellectual property protection established under international treaties does not necessari...

MINING & RETAIL

'Govt violated mining law,' says Chitando

THE Ministry of Mines has been violating an important mining legislation on the protection of precious mining titles resulting in miners using cash to renew titles, Mines Minister Winston Chitando has...

MINING & RETAIL

Chrome sector bullish

THE Zimbabwe chrome sector performed above expectations during the first quarter of 2018, with concentrates raking in $54,2 million as at April 30 compared to $33,2 million in export revenue earned du...

TELECOMS & TECHNOLOGY

Battle for Telecel control intensifies

TELECEL and Empowerment Corporation (EC) shareholder Gerald Mlotshwa has called for the reconvening of last year's inconclusive extraordinary general meeting (EGM) to adopt the resignation of EC chair...

Mines requires $11 billion

The country's mining industry requires about $11 billion to ramp up production and sustain operations in the next five  years, the Chamber of Mines of Zimbabwe (CoMZ) said last week, as it projec...

TRANSPORT & TOURISM

NRZ's $400m mega deal equipment incompatible

NRZ is facing a crisis owing to the incompatibility of railway equipment received under the $400 million Diaspora Infrastructure Development Group (DIDG) deal. Sources at the company said some of the ...

MINING & RETAIL

Mining speculators invade Great Dyke

THE politically well-connected Cypriot Pouroulis family - which is close to President Emmerson Mnangagwa - and is associated with speculation in mining has hit the jackpot in Zimbabwe.After clinching ...

BUSINESS NEWS

Zanu-PF disowns 'reckless' Mukupe utterances

Government yesterday described as "reckless, unlawful and contemptuous" the recent statement by Finance deputy minister Terrence Mukupe that the military would not allow MDC-T presidential candidate, ...

MINING & RETAIL

Forex shortage a blot on OK Zimbabwe's revenue

Retail giant, OK Zimbabwe says it was forced to raise prices in the past year due to cost of sourcing foreign currency, as cash shortages continue to haunt the economy.In its results for the year endi...

INDUSTRIALS & ENERGY

'New Zisco plant will be cheaper'

GOVERNMENT should facilitate that Zisco investors set up a new plant which will be cheaper than resuscitating old furnaces, Mines and Energy Parliamentary Portfolio Committee chairperson, Mr Temba Mli...