TELECOMS & TECHNOLOGY

Econet declares $50m dividend

TELECOMMUNICATIONS operator, Econet Wireless, has announced a dividend of $50 million for the nine months ended November 30, 2017."The company has declared a dividend of 0.93 cents per share for the t...

INDUSTRIALS & ENERGY

Merlin secures 306t dyeing contract

TEXTILE giant Merlin, which is under resuscitation, has secured a contract to dye 306 tonnes of yarn from a local company.The Bulawayo-based firm, which was placed under judicial management in 2012, i...

TRANSPORT & TOURISM

Air Zimbabwe seeks $190m for revival

Beleaguered national flag carrier, Air Zimbabwe (AirZim), is pleading for a $190 million capital injection from its sole shareholder, government, to fund its revival.Saddled with a debt overhang of ov...

FINANCIAL SERVICES

MBCA record $7,8 million profit

MBCA Bank reported a 40 percent increase in profit after tax to $7,8 million for the year to December 31 2017 from $5,6 million recorded in 2016.The Nedbank subsidiary said the profit was achieved due...

TELECOMS & TECHNOLOGY

James Makamba in trouble

A war veterans group - Magamba Echimurenga Housing Trust (Magamba) - has dragged businessman James Makamba and nine other entities to the High Court demanding an order barring the tycoon from continui...

MINING & RETAIL

$5m explosives plant for Zimbabwe

Mining has transformed radically and makes it nonsensical not to use mechanised miningTHE positive winds blowing in Zimbabwe's mining sector since the change of guard at central government has boosted...

MINING & RETAIL

ZCDC to pour $200m in new mine projects

Zimbabwe Consolidated Diamond Company (ZCDC) will spend at least US$200 million in 2018 open new mines in the eastern province of Manicaland as part of the mining groups expansion initiative, business...

MINING & RETAIL

Zim mining sector competitiveness under scrutiny

Competitiveness of Zimbabwe’s mining sector is under scrutiny in terms of attracting investors on the back of capital equipment gaps, access to finance, fluctuating global commodity prices and delay...

LANDS & AGRICULTURE

Belarus to supply Zim $43 million Agric equipment

The Belarus and Zimbabwean governments will sign a Memorandum of Agreement for the supply of $43 million worth of agriculture equipment, a visiting envoy said on Thursday.Belarus chief of Presidential...

MINING & RETAIL

Prospect buy 70% of the Good Days lithium project

Zimbabwe-focused mining group, Prospect Resources has extended its lithium resource base in Zimbabwe by acquiring Barrington Resources' Good Days lithium project.ASX-listed Prospect Resources already ...

TELECOMS & TECHNOLOGY

Econet declares $50m dividend

Zimbabwe's largest telecommunication's company by subscriber and asset base, Econet Wireless, has declared a dividend of $50 million in the nine months to November 2017.This was after the group yester...

TELECOMS & TECHNOLOGY

Zim MoMo interoperability raises more questions

ICT minister Supa Mandiwanzira's recent ultimatum to the country's mobile network operators to find a way to make all their mobile money platforms work together raises more questions than answers.Inte...

Zim insurance sector set for rebound

Zimbabwe's insurance sector is set for a rebound following rising investor confidence in the country after the inauguration of a new government late last year, market experts have said.The southern Af...

LANDS & AGRICULTURE

Ariston projects 31% growth in tea output

Listed agriculture concern, Ariston Holdings says enough preparations have made it bullish about the prospects for 2018 forecasting tea production to grow by 31%. Chief executive Paul Timothy Spear sa...

INDUSTRIALS & ENERGY

Ziscosteel needs $1bn to kick start

Ziscosteel requires at least $1billion to restart operations following its closure about 10 years ago while the new investor will need 18 to 24 months to restructure and reconstruct blast furnaces bef...

INDUSTRIALS & ENERGY

Blue Ribbon to diversify into beverages

Grain milling company, Blue Ribbon Foods Limited says it is working on diversifying into beverages manufacturing, as investor confidence in the country continues to grow. The project is expected to cr...

FINANCIAL SERVICES

GetBucks in $2,58m profit

Microfinance institution, GetBucks, said it has recorded a net profit of $2,58 million for the six months ended December 2017, showing a 51 percent increase from last year.GetBucks chairperson Glovah ...

MINING & RETAIL

Miners ordered to pay rentals or lose claims

THE Ministry of Mines and Mining Development has directed miners to pay their ground rentals or risk losing their claims.The call comes after small scale miners in Matabeleland South Province complain...

TELECOMS & TECHNOLOGY

iflix Partners with Safaricom in Kenya

iflix, the world's leading entertainment service for emerging markets, today announced a partnership with Safaricom to give the firms' customers up to 60 days of unlimited access to iflix's service wi...

MINING & RETAIL

Renewed interest in $1,2bn RioZim project

LISTED resources firm, RioZim, says investors have renewed their interest in the $1,2 billion Sengwa thermal power project, after being scared away by policy somersaults and currency instability, whic...

TRANSPORT & TOURISM

Cargo road ban after rail revival, says Mnangagwa

GOVERNMENT will consider banning heavy cargo trucks from the country's roads when the railway infrastructure has been revived, President Emmerson Mnangagwa has said.Speaking while officially launching...

MINING & RETAIL

Lithium firm establishes lab in Zimbabwe

ONE of Zimbabwe's largest lithium producer, Prospect Resources (Prospect), has established a laboratory complex in Kwekwe aimed at enhancing production of lithium carbonate. Hugh Warner, Prospect chai...

INDUSTRIALS & ENERGY

Mutare Bottling struggles to service $20m loan

MUTARE Bottling Company (MBC) said it is struggling to repay a foreign loan acquired to set up its bottling plant due to foreign currency shortages, an official has disclosed.MBC managing director, Al...

MINING & RETAIL

ACF invests $220m, eyes diamonds

ONE of the country's growing resource outfits, African Chrome Fields (ACF), says it has invested over $200 million at its Midlands operations in the past three years, and is now scouting for diamond a...

TELECOMS & TECHNOLOGY

NetOne gives up $11 million

STATE-owned mobile network operator, NetOne, says it has given up hope of recovering $11,3 million from its former service provider Firstel Cellular, which was liquidated nearly two years ago.First Ce...