MINING & RETAIL

Wrangle scuttles ZimAlloys turnaround

Plans to resuscitate ferrochrome producer ZimAlloys have been scuttled as the ongoing legal wrangle between the company's judicial manager and Indian investor Balasore rages on, it has been establishe...

By Staff reporter | Published: 20 June 2019

FINANCIAL SERVICES

Paynet escalates row with Zimbabwe banks

PAYNET Zimbabwe (Paynet), a salary payment software vendor, has offered companies a free service to wire salaries to their employees using EcoCash until August 1 2019, escalating a simmering row with ...

By Staff reporter | Published: 20 June 2019

INDUSTRIALS & ENERGY

Pepsi Zimbabwe increases production by 200%

PEPSI Zimbabwe, the local unit of Varun Beverages, says production capacity at its manufacturing and bottling plant in Harare has increased by 200% due to huge demand of its product, local and abroad....

By Staff reporter | Published: 20 June 2019

INDUSTRIALS & ENERGY

Tongaat defers financial results

REGIONAL sugar producer, Tongaat Hulett (THL), has deferred publishing of its periodic financial results to October 2019 pending conclusion of its financial review and associated forensic investigatio...

By Staff reporter | Published: 20 June 2019

INDUSTRIALS & ENERGY

Chivhayo in fresh energy scandal

Controversial businessman Wicknell Chivhayo is in the eye of a storm as it emerged this week he could have misled the Zimbabwe Power Company (ZPC) into making payments for earthmoving equipment worth ...

By Staff reporter | Published: 14 June 2019

MINING & RETAIL

Mnangagwa ally's ACF restructures, suspends operations

One of Zimbabwe's major chrome producers, African Chrome Fields (ACF), has temporarily suspended operations as the company embarks on a restructuring exercise.Information at hand shows ACF produced 10...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Increased revenue drives Seed Co PAT to US$90,7m

Seed Co Limited posted an after-tax-profit of US$90,7 million in the year ended March 31, up from US$21,4 million recorded in the prior year, driven by an increase in revenue.Revenue was up 16% to US$...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Cyclone Idai costs Ariston Holdings US$1,5 million in damages

ARISTON Holdings Limited (AHL) says Cyclone Idai damaged the company's plantations in the Eastern Highlands, with early indications suggesting that the damage could be worth US$1,5 million."In March 2...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Zimplow revenue grows by 86%

LISTED manufacturer and distributor of farming implements, Zimplow, says its revenue grew by 86% to $29,8 million in the first five months of 2019, driven by an improvement in volumes across the group...

By Staff reporter | Published: 14 June 2019

LANDS & AGRICULTURE

Tobacco farmers protest against buyer

THERE was mayhem at Agribank Mvurwi and Voedesel Tobacco Company on Wednesday afternoon after tobacco farmers failed to access their hard-earned money supposedly transferred into their bank accounts b...

By Staff reporter | Published: 14 June 2019

INDUSTRIALS & ENERGY

Government retires Ziscosteel board

DEFUNCT steel manufacturer, Ziscosteel, is set to get a new board of directors after Government retired the entire old board that had been in office for more than a decade. Industry and Commerce Minis...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

African Sun says business booming

LISTED hospitality group, African Sun (Pvt) Limited, says its business has been growing since last year in response to positive business sentiment under the new dispensation.  The group was estab...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

NRZ eyes regional markets for turnaround

GOVERNMENT plans to improve the interconnectivity of the National Railways of Zimbabwe with other countries in the region to improve the parastatal's market share and revenue, a Cabinet Minister said ...

By Staff reporter | Published: 14 June 2019

FINANCIAL SERVICES

Paynet switches off Zimbabwe banks

PAYNET, a subsidiary of Mauritian financial services provider Payserv Africa, has suspended all local financial institutions from its transacting platform after they refused to pay in foreign currency...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

Zimbabwe's air traffic control system outdated, risky

ZIMBABWE'S outdated air traffic control system is putting lives of passengers in danger as it exposes planes to possible collisions, aviation experts have said.The archaic system also exposes the coun...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

Unifreight Africa in US$19m scandal

TRANSPORT group Unifreight Africa Limited allegedly prejudiced its shareholders on the Zimbabwe Stock Exchange (ZSE) an estimated US$18 million wired into an offshore account in the United Kingdom (UK...

By Staff reporter | Published: 14 June 2019

FINANCIAL SERVICES

CBZ eyes diaspora market

Biggest banking group by assets and deposits CBZ Holdings Limited, has set eyes on diaspora mortgages, as part of its strategy to enhance foreign currency generation, a senior official has said. Throu...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

Air Zimbabwe demands outstanding TBs to purchase an Embraer aircraft

Air Zimbabwe has engaged the Treasury and the Reserve Bank of Zimbabwe for the release of outstanding Treasury Bills (TBs) amounting to US$4 million for the purchase of an Embraer aircraft. Government...

By Staff reporter | Published: 14 June 2019

MINING & RETAIL

Mercury ban poser for Zimbabwe gold mines

Zimbabwe is racing against time to find effective and sustainable ways to eliminate the use of mercury, which is widely used by small miners in processing gold, in line with dictates of global treaty ...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

Meikles Hotel sale now awaits shareholder approval

Zimbabwe Stock Exchange (ZSE) listed conglomerate, Meikles limited has announced that the proposed plan to sell shareholding in one of its hotels is now awaiting shareholder approval.The company issue...

By Staff reporter | Published: 13 June 2019

TELECOMS & TECHNOLOGY

Epson to set up office in Zimbabwe

Swedish information communication technologies (ICTs) giant Epson Europe BV will set up office in Harare next week in response to President Mnangagwa's pro-investment reforms under the New Dispensatio...

By Staff reporter | Published: 13 June 2019

FINANCIAL SERVICES

MFIs mull forex lending

THE Zimbabwe Association of Microfinance Institutions (Zamfi) is considering foreign currency lending to assist producers in securing critical imports based on the anticipated effectiveness of the int...

By Staff reporter | Published: 13 June 2019

INDUSTRIALS & ENERGY

Sengwa project set for takeoff

Zimbabwe Stock Exchange (ZSE) listed RioZim says construction of its 2 800 megawatts Sengwa power project will commence in the next 12 months after the mining group signed an exclusivity agreement wit...

By Staff reporter | Published: 13 June 2019

TRANSPORT & TOURISM

Rainbow Tourism Group trading update

The company delivered a strong performance in 2018 achieving revenues of  $34.3 million which was 27% above the prior year despite an increasingly challenging economic climate. This performance w...

By Staff reporter | Published: 13 June 2019

TELECOMS & TECHNOLOGY

NetOne taken to court over $430 836 paid to ex-employee

THE Communications and Allied Industries Pension Fund (CAIPF), has issued summons at the High Court seeking an order to compel State-owned NetOne Cellular (PVT) Ltd to reimburse $430 836 paid the mobi...

By Staff reporter | Published: 13 June 2019
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