MINING & RETAIL

Chinese billionaire back for Ziscosteel deal

CHINESE investor, Zhang Li, who is president of R&FA is in Zimbabwe to finalise the implementation of a $1 billion resuscitation of the Zimbabwe Iron and Steel Company (Ziscosteel), Southern Eye h...

By Staff reporter | Published: 22 March 2018

INDUSTRIALS & ENERGY

Merlin eyes $30m investment

TEXTILE company, Merlin, says it is still engaging foreign investors who have expressed interest to invest $30 million into the company and is confident that the transaction will succeed.The company's...

By Staff reporter | Published: 22 March 2018

FINANCIAL SERVICES

Postal and courier volumes dip 9.3%

Postal and courier volumes dipped by 9,3% in the fourth quarter of 2017 to 1 860 747 from the previous quarter, as the domestic postal unit took a battering from e-substitution.In the previous quarter...

By Staff reporter | Published: 22 March 2018

MINING & RETAIL

Zimbabwe and the magic of Lithium

Lithium. It's a magic word these days, a headline catcher which will see Zimbabwe play a major international role producing material for tens of millions of batteries for electric cars which will, wit...

By Independent Foreign Service | Published: 21 March 2018

TELECOMS & TECHNOLOGY

'EcoSure to eclipse EcoCash success'

ECONET'S Cassava Fintech group chief executive officer Darlington Mandivenga says its mobile insurance service, EcoSure, will in time eclipse EcoCash's current success.Last week, the Postal and Teleco...

By Staff reporter | Published: 21 March 2018

FINANCIAL SERVICES

Banks shun telegraphic transfers

SOME banks in Bulawayo have completely stopped accepting foreign payment telegraphic transfers submitted by companies, making life unbearable for the companies in the city, Association for Business in...

By Staff reporter | Published: 21 March 2018

MINING & RETAIL

Gold deliveries fall as rains weigh in

GOLD deliveries marginally declined in February to 2,01 tonnes compared to 2,6 tonnes delivered in January, mainly because of rains that hit most parts of the country.Zimbabwe has been experiencing ra...

By Staff reporter | Published: 21 March 2018

TELECOMS & TECHNOLOGY

Govt pledges more access to Internet

GOVERNMENT yesterday pledged more access to Internet by Zimbabweans, including those living in marginalised communities. Addressing a World Summit on Information Society (WSIS) underway in Geneva, Swi...

By Staff reporter | Published: 21 March 2018

FINANCIAL SERVICES

Ipec enforces new actuarial rules

The Insurance and Pensions Commission (Ipec) has issued a stern warning saying all insurance companies should engage actuaries for key validation on their activities or face serious consequences. The ...

By Staff reporter | Published: 21 March 2018

MINING & RETAIL

$400m for Darwendale platinum project

Great Dyke Investments (GDI) says it will invest $400 million to build a precious metals mine and smelter at its Darwendale Project near Harare. The investment is the first stage of a total investment...

By Staff reporter | Published: 21 March 2018

MINING & RETAIL

Armed police loot diamonds

Parliament yesterday heard how heavily armed police officers numbering about 200, in mafia style, stormed the Mbada Diamond fields in Marange and looted gems worth millions of dollars before they brok...

By Staff reporter | Published: 20 March 2018

TELECOMS & TECHNOLOGY

Active mobile subscriptions increase to 14 million

The total number of active mobile subscription increased by 2,1 percent to 14 092 104 million for the year to December 31, 2017 from 13 799 648 million recorded during the previous quarter, according ...

By Staff reporter | Published: 20 March 2018

TRANSPORT & TOURISM

Harare's oldest hotel faces closure

Judicial manager for Harare's popular joint - Hotel Elizabeth - Shepherd Nhondova has called for a second creditors' meeting scheduled for March 28 as the process to place it under judicial management...

By Staff reporter | Published: 20 March 2018

MINING & RETAIL

Hwange station extension project to begin next month

CHINA Export and Import Bank (China EximBank) will next month avail the first drawdown of the $1.1 billion funding required to kick start work on the Hwange Thermal Power Station extension project.The...

By Staff reporter | Published: 20 March 2018

TRANSPORT & TOURISM

New hotel to open in Bulawayo

A NEW 30-room hotel will open its doors in Bulawayo soon and is set to create 40 direct jobs.Players in the tourism sector and city business persons on Saturday conducted a pre-opening tour of Derby H...

By Staff reporter | Published: 20 March 2018

FINANCIAL SERVICES

Nedbank Zimbabwe eyes more cashless options

Nedbank Zimbabwe will pursue more cashless options such as internet banking and increasing point-of-sale (POS) machines, in an effort to reduce the demand for physical cash, an executive said yesterda...

By Staff reporter | Published: 20 March 2018

TELECOMS & TECHNOLOGY

NetOne grows mobile data market share

Zimbabwe's second largest mobile operator by subscribers NetOne grew its data market share by 6,5 percent in the last quarter of 2017, the latest Postal and Telecommunications Regulatory Authority (Po...

By Staff reporter | Published: 20 March 2018

FINANCIAL SERVICES

Nedbank to give out home ownership loans

Nedbank Zimbabwe, a unit of South Africa's Nedbank group will not be venturing into housing development like other local financial institutions but will rather focus on providing financial instruments...

By Staff reporter | Published: 20 March 2018

LANDS & AGRICULTURE

MTC invests $6m in new warehouse

Mashonaland Tobacco Company (MTC) has invested $6 million in a new warehouse, following the inferno that gutted the old one in 2015.The tobacco processor and exporter's warehouse caught fire in 2015 d...

By Staff reporter | Published: 20 March 2018

FINANCIAL SERVICES

Nedbank Zimbabwe seeks to fund private sector

Nedbank Zimbabwe, a unit of South Africa's Nedbank Group, says it will be at the forefront of securing lines of credit for private sector funding as the financial institution seeks to play a leading r...

By Staff reporter | Published: 20 March 2018

FINANCIAL SERVICES

Nedbank Zimbabwe warns of system failure

Nedbank Zimbabwe, formerly MBCA, has warned customers of possible system failures during the rebranding exercise. Speaking at press statement held in the capital on Monday, the bank’s managing direc...

By Staff reporter | Published: 19 March 2018

FINANCIAL SERVICES

Zim policyholders prejudiced billions of dollars

Insurance and pension industry players did not keep consistent and reliable asset values during the pre-dollarisation period, resulting in ordinary Zimbabweans failing to assess risks and ultimately i...

By Staff reporter | Published: 19 March 2018

INDUSTRIALS & ENERGY

Dairibord speaks on outbreak of listeriosis

A unit of the Zimbabwe Stock Exchange (ZSE) listed Dairibord Holdings Limited (DHL) has issued a statement assuring its stakeholders that its products are safe for human consumption.This follows the o...

By Staff reporter | Published: 19 March 2018

INDUSTRIALS & ENERGY

National Foods to dispose of $3.7m properties

NATIONAL Foods Limited will within the next six months dispose of properties valued at $3.7 million that are non-core to the business comprising buildings and land.Board chair, Mr Todd Moyo, said this...

By Staff reporter | Published: 19 March 2018

FINANCIAL SERVICES

CBZ profit after tax clocks $27.8m

ZIMBABWE'S largest financial group, CBZ Holdings posted a 16.8 percent growth in profit after tax to $27.8 million in the full year ended December 31, 2017 compared to $23.8 million achieved in 2016.T...

By Staff reporter | Published: 19 March 2018
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