MINING & RETAIL

Kamativi lithium drilling kicks off

CANADIAN-based mineral exploration company, Chimata Gold Corp, has commenced drilling works at the Kamativi lithium project in Matabeleland North Province.The lithium deal is expected to unlock more t...

By Staff reporter | Published: 06 April 2018

INDUSTRIALS & ENERGY

Zimpapers makes senior appointments

The Zimpapers Group has made some new appointments, as the media group seeks to consolidate its position as a market leader in content generation and provision.The group is known as a content hub, whi...

By Staff reporter | Published: 06 April 2018

MINING & RETAIL

New diamond policy on cards

Government is working on a new diamond and platinum mining policy to replace the 51-49 percent shareholding requirement that regulates the two minerals.The policy, which was removed a few months ago o...

By Staff reporter | Published: 06 April 2018

FINANCIAL SERVICES

Ecobank secures $100m lines of credit

ECOBANK Zimbabwe managed to secure over $100 million in lines of credit from group associates last year for onlending towards the importation of fuel, fertilisers, mining equipment and edible oils raw...

By Staff reporter | Published: 06 April 2018

BUSINESS NEWS

Lifeline for funeral assurance firms

The Insurance and Pension Commission has thrown a lifeline to funeral assurance firms failing to meet the $2,5 million minimum capital requirements by allowing struggling entities to comply with the r...

By Staff reporter | Published: 06 April 2018

INDUSTRIALS & ENERGY

Toyota Zim launches new premises, vehicle brands

Toyota Zimbabwe had a four-part celebration that included opening of new premises in Msasa, introduction of the new general diesel engine Hilux and a Fortuner.The celebrations also included the 50th a...

By Staff reporter | Published: 06 April 2018

BUSINESS NEWS

IDC offloads 15pc stake in Scaw Metals

The Industrial Development Corporation (IDC) has sold its 15 percent stake in Scaw Metals Group's Grinding Media, South Africa, to a United States of America firm, Magotteaux International as it seeks...

By Staff reporter | Published: 06 April 2018

MINING & RETAIL

Lafarge Zimbabwe seeks strategic partner

Zimbabwe Stock Exchange listed entity Lafarge Cement is looking for a strategic business partner for its special products segment where it seeks to grow existing brands as well as introduce new produc...

By Staff reporter | Published: 06 April 2018

MINING & RETAIL

Global investors eye RioZim thermal power project

Five major global investors are vying to partner listed resources group RioZim Limited for its apparently lucrative multi-billion Sengwa thermal power project, management has said. Interest in the pro...

By Staff reporter | Published: 06 April 2018

MINING & RETAIL

GPR, Chinese partner revive $1,7bn platinum plan

Global Platinum Resources and its Chinese partner, Wanbao Rexco, this week announced plans to revive operations at its 520 million ounces platinum reserves along the Great Dyke belt. Parties to the $1...

By Staff reporter | Published: 06 April 2018

BUSINESS NEWS

Indian health firm to take over CAPS

A top Indian health firm, Ajanta Pharma, has signed a letter of intent with Government to take over CAPS Pharmaceuticals and revive its operations. Further, the company intends to set up a top-notch h...

By Staff reporter | Published: 06 April 2018

INDUSTRIALS & ENERGY

Turnall seals US$29m deal

Turnall Holdings Ltd has successfully concluded payment arrangements with key creditors it owed US$25 million in a crucial deal that will go a long way in restructuring the company's capital structure...

By Staff reporter | Published: 06 April 2018

MINING & RETAIL

Govt compels mining firms to list on ZSE

Zimbabwe wants mining companies operating in the country to list the majority of their shares on the local exchange, stirring uncertainty among investors as the nation with the world's biggest platinu...

By Staff reporter | Published: 06 April 2018

MINING & RETAIL

Mbada, govt clash over diamonds

Mbada Diamonds has approached the High Court seeking to secure its diamonds that continue to be sold by the government-owned Zimbabwe Consolidated Diamond Company (ZCDC). The comes after a court order...

By Staff reporter | Published: 06 April 2018

INDUSTRIALS & ENERGY

Cottco bosses in vicious fight

An ugly fight has erupted among top executives at agro-industrial firm Cottco Holdings over a contentious sell of lint to a local merchant that overseas buyers had allegedly paid for in advance. The t...

By Staff reporter | Published: 06 April 2018

LANDS & AGRICULTURE

Rights abuses rife on Zimbabwe tobacco farms

Global watchdog Human Rights Watch on Thursday urged Zimbabwe to take urgent steps to stem child labour and other rights abuses on the country's tobacco farms.In a report titled "Bitter Harvest", the ...

By AFP | Published: 05 April 2018

FINANCIAL SERVICES

FML declared a dividend of 0.15cps

THE First Mutual Life the board today declared a dividend of 0.15 cents per share for the year ended 31 December 2017 payable in respect of all the ordinary shares of the company. According to the com...

By Staff reporter | Published: 05 April 2018

FINANCIAL SERVICES

Barclays profit surges 83 percent

STRONG revenue growth led to an 83 percent surge in profit at Barclays Bank of Zimbabwe, which posted $19,8 million during the year to December 31, 2017, up from $10,8 million the previous year.Managi...

By Staff reporter | Published: 05 April 2018

FINANCIAL SERVICES

FBCH to revive share buy-back

FBC Holdings (FBCH) says it will reintroduce share buy-backs this year following an amendment to the Banking Act that lifted restrictions on the practice.Speaking at an analysts briefing last week, gr...

By Staff reporter | Published: 05 April 2018

FINANCIAL SERVICES

Old Mutual listed equities value drops

FINANCIAL services behemoth, Old Mutual (OM) says the value of its listed equity investments has so far this year fallen by 11,5 percent due to self-correction on the domestic bourse which experienced...

By Staff reporter | Published: 05 April 2018

MINING & RETAIL

Caledonia eyes $5m income increase

ZIMBABWE-FOCUSED gold miner, Caledonia, says it anticipates an increase in income during the current financial year, driven by a 7,5 percentage point increase in export incentives paid to gold miners ...

By Staff reporter | Published: 05 April 2018

FINANCIAL SERVICES

NMBZ piles up government paper

DUAL-LISTED financial services group, NMBZ Holdings, increased portfolio of Treasury Bills (TBs) by 273 percent during the year to December 31, 2017.Financial results from the Zimbabwe Stock Exchange-...

By Staff reporter | Published: 05 April 2018

MINING & RETAIL

Prospect, Sinomine Cement seal lithium project agreement

GOLD and lithium developer Prospect Resources has cemented an agreement with Hong Kong-listed Sinomine Resources Exploration, which will see the development of the Arcadia lithium project, in Zimbabwe...

By Staff reporter | Published: 05 April 2018

TRANSPORT & TOURISM

US magazine lists Vic Falls as 'must vist'

A TOP United States magazine, Business Insider, has listed Victoria Falls as Africa's only must visit destination this April.The resort town, which harbours one of the world's seven wonders, was named...

By Staff reporter | Published: 05 April 2018

TRANSPORT & TOURISM

Air Zimbabwe operations crippled

NATIONAL airline, Air Zimbabwe's operations have been crippled following the breakdown of eight of its planes, leaving only two servicing all its routes leading to delays and postponement of flights.A...

By Staff reporter | Published: 05 April 2018
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