MINING & RETAIL

Zimbabwe set to quadruple coal output

ZIMBABWE is set to quadruple coal production by next year following investments that have been secured in that sector, a Cabinet Minister has said.Speaking to investors at a mining conference in Londo...

FINANCIAL SERVICES

CBZ targets SMEs as profits rise

CBZ Holdings, Zimbabwe's biggest banking group (by assets and deposits) plans to expand its small to medium enterprise loan book by $10 million to stimulate growth in the sector, as profits rose 17 pe...

INDUSTRIALS & ENERGY

Pepsi starts production in Zimbabwe

INDIAN soft drinks manufacturer, Varun Beverages, has started manufacturing operations in the country, but says the cost of setting up its plant might spiral from the initial budget of $30 million to ...

INDUSTRIALS & ENERGY

Dairibord mulls Malawi business closure

Milk processor, Dairibord Holdings Limited, will make a decision on the fate of its Malawi division in the next six months after the unit continued on a perennial loss making path.Finance director Mer...

FINANCIAL SERVICES

Cash decreases in CABS vaults

OVER 300 000 CABS depositors will struggle to access their funds, as cash in building society's coffers significantly dropped to $2,09 million in the full year ending December 31, 2017 from the compar...

FINANCIAL SERVICES

CBZ turns focus to productive sector

CBZ Holdings will focus on supporting the key productive sectors of the economy such as agriculture and mining as the country's biggest banking group expands its reach."Going forward, we will continue...

MINING & RETAIL

Mimosa increases production

ZVISHAVANE-BASED platinum miner, Mimosa, has been forced to increase its production and push volumes as its sales are being affected by the depleting grade of its mineral as well as plummeting platinu...

INDUSTRIALS & ENERGY

Forex crunch threatens Archer Clothing

THE prevailing foreign currency shortage in the country is threatening to hamper leading textile company, Archer Clothing Manufacturers' growing business prospects.Archer Clothing Manufacturers is one...

INDUSTRIALS & ENERGY

'No immediate respite to Zim forex shortages'

LISTED Dairibord Holdings Limited (DHL) does not see an immediate respite to foreign currency shortages and will remain cautious in its business operations due to uncertainty evoked by upcoming electi...

FINANCIAL SERVICES

StanChart launches its first-ever digital bank in Africa

Standard Chartered Bank today announced the official launch of its digital bank in Côte d'Ivoire. This marks the Bank's first digital bank in Africa and the first-of-its-kind to open in Côte d'Ivoir...

Great Dyke to build $400m processing plant in Zim

Great Dyke Investments (GDI) is planning to invest $400m to construct a precious metals mine and smelter as part of the Darwendale platinum deposit project in Zimbabwe.The investment will be directed ...

INDUSTRIALS & ENERGY

PRObrands acquires Revive brand

Fast moving consumer goods firm PRObrands has through its Prodairy Unit acquired Revive juice which shut shop in 2016 and the company has since resumed production with the juices already commanding 15...

MINING & RETAIL

Mining firms seek minimum wage pay exemption

SEVERAL mining companies have applied to be exempted from paying the 2018 minimum wage increment for the sector agreed by the Chamber of Mines and the Associated Mineworkers' Union of Zimbabwe (Amwuz)...

MINING & RETAIL

PPC to leverage on RBZ export incentive

PPC Zimbabwe says it will leverage on an enhanced export incentive which the company has been granted by the Reserve Bank of Zimbabwe to break even and resume exports in the face of high costs of prod...

FINANCIAL SERVICES

CABS injects $6m into Bulawayo housing projects

LEADING mortgage lender Central African Building Society (CABS) says it has invested in excess of US$6 million in Pumula South and Nkulumane housing stands with the combined uptake, including the Budi...

LANDS & AGRICULTURE

ED takes manufacturing message to tractor plant

President Emmerson Mnangagwa visited a tractor and parts plant on Tuesday to highlight the role of manufacturing in reviving the economy, and followed up on his State of the nation message of strength...

MINING & RETAIL

Zimbabwe's coal output set to quadruple

Zimbabwe has attracted around $300 million in its coal industry that will quadruple production next year versus 2017, its mining minister told an investment conference in London on Thursday.The countr...

FINANCIAL SERVICES

Nedbank Zim launches new banking system

MBCA Zimbabwe this week changed its name to Nedbank Zimbabwe after the registrar of companies approved the change of its corporate identity as part of efforts to spur growth.The Nedbank Group is the f...

INDUSTRIALS & ENERGY

Dairiboard strategises to up milk output

DAIRIBOARD Holdings says it is pursuing a number of initiatives to increase output and consolidate profitability riding on positive gains achieved in 2017.In full year financial results for the period...

TRANSPORT & TOURISM

African Sun in 19% revenue growth

AFRICAN Sun Limited has recorded a 19 percent growth in revenue to $51,83 million for the year ended December 31, 2017, spurred by a jump in occupancy levels.The international market recorded the high...

MINING & RETAIL

Innscor revenue down 2% in H1 on avian outbreak

Innscor Africa Limited lost 2% or $6 268 952 in revenue during the group's six months ended December 31, 2017, period due to the avian influenza epidemic that affected its Irvine's subsidiary.However,...

FINANCIAL SERVICES

CBZ net income up 16.8% to $27.8m

CBZ Holdings recorded a 16,8% jump in net earnings to $27,8 million in the full year ending December 31, driven by the growth in net non-interest income. In the comparable year, profit-after-tax was $...

MINING & RETAIL

'Expedite Mines, Minerals Amendment Act'

With improved investment interest into the country in recent months, the mining industry remains one of the most sort-after sectors earmarked to speed the country's economic revival, but stalling in t...

MINING & RETAIL

Lafarge Holcim Cement in lime mining wrangle

The High Court has granted an interdict against Lafarge Holcim Cement Zimbabwe barring the company from mining lime on a piece of land in-PFura Rural District in Mashonaland Central. This follows an a...

MINING & RETAIL

ZimAlloys, Balasore deal collapses

The proposed acquisition of ZimAlloys' 70 percent shareholding by Balasore Alloys of India is hanging in the balance amid revelations that the Bombay Stock Exchange listed company has failed to meet t...