FINANCIAL SERVICES

Untu lists on Finsec

UNTU Capital, yesterday listed its medium term note on the Financial Securities Exchange (Finsec) after announcing a 72 percent over-subscription of its initial public offer.This becomes the third fix...

By Staff reporter | Published: 30 January 2018

CONSTRUCTION & PROPERTY

Govt urged to review construction laws

The country's laws governing the construction industry - last reviewed over three decades ago - are becoming an impediment to investment in the property industry, experts have said.This is despite sev...

By Staff reporter | Published: 30 January 2018

TELECOMS & TECHNOLOGY

Econet to exit Zimbabwe?

Economic think tank, Business Monitor International (BMI), has not ruled out that Econet Wireless Zimbabwe might decide to exit the market, especially as recent decisions by the regulator impact its p...

By Ngoni Shenjere | Published: 29 January 2018

TRANSPORT & TOURISM

Munyeza's elite Mugg&Bean shuts branch

Zimbabwe's Mugg and Bean (M&B) franchise owner Shingi Munyeza, has shut down one of the exclusive restaurant's joints - Avondale branch - following non-renewal of its lease.Munyeza - who also hold...

By Staff reporter | Published: 29 January 2018

TELECOMS & TECHNOLOGY

China funds TelOne HPC

China says it is committed to improving its relations with Zimbabwe by providing state of the art information and communication technology (ICT) equipment.Chinese Ambassador to Zimbabwe, Mr Huang Ping...

By Staff reporter | Published: 29 January 2018

TELECOMS & TECHNOLOGY

Econet ordered to refund client, $128,000

HARARE High Court judge Justice Davison Moses Foroma has ordered Econet Wireless (Pvt) Ltd to reimburse $128 000 erroneously billed on its agent and customer, Antolice Enterprises (Pvt) Ltd's recharge...

By Staff reporter | Published: 29 January 2018

INDUSTRIALS & ENERGY

Allied Timbers eyes $30m loan deal

Allied Timbers Zimbabwe is close to sealing a vendor finance transaction with Belarus that will see the country's largest timber company receiving equipment worth $30 million. The deal, likely to be c...

By Staff reporter | Published: 29 January 2018

MINING & RETAIL

Govt gazettes Zisco Debt Assumption Bill

Government has gazetted the Zimbabwe Iron and Steel Company (Debt Assumption) Bill, H.B 2, 2018 to take over about to $500 million owed to both domestic and external debtors. The Bill was published by...

By Staff reporter | Published: 29 January 2018

TRANSPORT & TOURISM

NRZ seeks mandate to transport heavy metals

The National Railways of Zimbabwe (NRZ), through the Transport and Infrastructural Development Ministry, is lobbying Cabinet to promulgate a Statutory Instrument that would ring-fence heavy metals and...

By Staff reporter | Published: 29 January 2018

INDUSTRIALS & ENERGY

Nestle to cut 400 more jobs

Nestle SA plans to cut as many as 400 jobs in France as the Swiss maker of Perrier water and Herta launch meats cuts costs. The Swiss food company announced the plan in a meeting with labour leaders, ...

By Staff reporter | Published: 29 January 2018

INDUSTRIALS & ENERGY

Zesa to install 30 000 prepaid meters

National power utility, Zesa Holdings (Zesa), says it plans to install 30 000 prepaid meters in the coming three months under the 100 days Rapid Results Initiative. Energy minister Simon Khaya Moyo sa...

By Staff reporter | Published: 29 January 2018

TELECOMS & TECHNOLOGY

Zim telecoms quality, services improve

Zimbabwe's telecommunications quality and services has improved in the last few years due to infrastructure and network upgrades, the sector's regulator he said. Postal and Telecommunication Regulator...

By Staff reporter | Published: 29 January 2018

MINING & RETAIL

Interview - Zim's Minister of Mines & Development

1. What major minerals apart from platinum and diamonds are found in Zimbabwe that would be of interest to foreign investors?There are several minerals in Zimbabwe apart from platinum and diamonds tha...

By Mining Indaba | Published: 26 January 2018

INDUSTRIALS & ENERGY

Delta snaps up stake in Natbrew

DELTA Corporation says it has completed the acquisition of a controlling stake in Lusaka Stock Exchange-listed beer company, National Breweries PLC (Natbrew). Ronny Palale, a chartered accountant with...

By Staff reporter | Published: 26 January 2018

FINANCIAL SERVICES

Britain's StanChart bails out Zimbabwe govt

THE Zimbabwean government has committed to paying the US$1,2 billion arrears to the World Bank by April this year, as the first step towards unlocking fresh funding from multilateral institutions, but...

By Staff reporter | Published: 26 January 2018

BUSINESS NEWS

CZI postpones economic outlook symposium

THE Confederation of Zimbabwe Industries (CZI) has postponed its economic outlook symposium that was scheduled for this week to next week in order to accommodate some officials attending the World Eco...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

Retailers battle for consumers

RETAILERS, who are currently under fire for exploiting consumers through extortionate pricing, are now battling to fire-sell their products by offering promotions. Consumers have largely boycotted maj...

By Staff reporter | Published: 26 January 2018

FINANCIAL SERVICES

IMF meets Mnangagwa

IMF Managing Director Christine Lagarde Meets with President Emmerson Mnangagwa of ZimbabweInternational Monetary Fund (IMF) Managing Director Christine Lagarde today met with President Emmerson Mnang...

By Staff reporter | Published: 26 January 2018

FINANCIAL SERVICES

Mangudya set to deliver Monetary Policy Statement

The Reserve Bank of Zimbabwe Governor Dr John Mangudya, is set to deliver the 2018 Monetary Policy Statement (MPS) early February when he returns from Davos, Switzerland where is attending the 48th Wo...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

Govt cuts diamond ground fees

GOVERNMENT has significantly reduced ground rental annual fees for diamonds to $225 per hectare from $3 000. The reduction is in line with Government's ease of doing business reforms to facilitate inv...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

Pelhams bounces back

One of Zimbabwe's oldest furniture firms Pelhams has started re-opening its branches across the country after TN Harlequin, one of its creditors and sister company, undertook to bailout the company to...

By Staff reporter | Published: 26 January 2018

MINING & RETAIL

MMCZ seeks to revive metallurgical plant

MMCZ says it intends to revive a metallurgical plant in Kwekwe that processes refractory ore, an initiative that will promote gold production, particularly from various small-scale miners dotted aroun...

By Staff reporter | Published: 26 January 2018

TELECOMS & TECHNOLOGY

Potraz to audit telecoms firms' financial statements

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) will audit financial statements of telecommunication firms that failed to pay licensing fees to ascertain veracity of such i...

By Staff reporter | Published: 26 January 2018

LANDS & AGRICULTURE

Zim grain reserves adequate despite dryness

Zimbabwe (GMAZ) said on Jan. 23 that despite the recent dry spell its members have sufficient grain reserves to take the country through the next farming season, according to Newsday Zimbabwe."Even wh...

By Staff reporter | Published: 25 January 2018

MINING & RETAIL

Mnangagwa bets on mineral-led recovery

ZIMBABWE'S new government talks up the country's mineral wealth in its push for investment, as it seeks to snap a run of sluggish economic growth, an official document shows.The country's tilt towards...

By Staff reporter | Published: 25 January 2018

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