FINANCIAL SERVICES

RBZ pays Time Bank US$10m

THE Reserve Bank of Zimbabwe (RBZ) has paid US$10 million in Treasury Bills (TBs) to the soon-to-reopen Time Bank in a bid to end a nearly two-decade-long dispute with the commercial bank which is eye...

By Staff reporter | Published: 23 January 2018

FINANCIAL SERVICES

StanChart invests $7.1m in branch modernisation

Standard Chartered Bank (StanChart) says the opening of its relocated Avondale branch underscores the financial institution's commitment to provide an ambient and convenient banking environment for it...

By Staff reporter | Published: 23 January 2018

MINING & RETAIL

Govt rubbishes $15bn diamond theft reports

Claims by former president Robert Mugabe that the country lost $15 billion worth of diamond revenue were divorced from the actual facts on the ground, Finance minister Patrick Chinamasa told the Natio...

By Staff reporter | Published: 23 January 2018

TELECOMS & TECHNOLOGY

Mlotshwa takes over Dr Dish

KTULU Nominees, representing private family interests of prominent lawyer, Gerald Mlotshwa, has emerged as the single largest shareholder in Dr Dish following a deal signed over the weekend.The transa...

By Staff reporter | Published: 23 January 2018

TELECOMS & TECHNOLOGY

Kwese TV taken to court

DR Dish Private (Ltd) says it is pursuing various options after Econet Media-owned Kwese TV severed ties with the company, while assuring its subscribers that they will not be left stranded.This comes...

By Staff reporter | Published: 23 January 2018

TELECOMS & TECHNOLOGY

Reprieve for Zimbabwe telecom operators

Postal and telecommunication operators can now pay their licence fees in instalments after struggling to make once-off payments due to the harsh economic environment, the Postal and Telecommunications...

By Staff reporter | Published: 23 January 2018

CONSTRUCTION & PROPERTY

Zimre secures approval to list on BSE

ZIMRE Holdings has secured regulatory approvals to consolidate its regional reinsurance assets into an entity that will list on the Botswana Stock Exchange (BSE).The regional operations include the wh...

By Staff reporter | Published: 23 January 2018

INDUSTRIALS & ENERGY

'Zisco debt must be audited'

Government should conduct an audit to ascertain how the $380 million Zimbabwe Iron and Steel Company debt was accrued, lobby group The Zimbabwe Coalition on Debt and Development (ZIMCODD) has said.Fin...

By Staff reporter | Published: 23 January 2018

INDUSTRIALS & ENERGY

Merlin readies to resume production

TEXTILE manufacturing concern, Merlin has stockpiled 25 tonnes of yarn at its factory in Bulawayo as it prepares to resume production next month.The company suspended production long back and has been...

By Staff reporter | Published: 23 January 2018

INDUSTRIALS & ENERGY

Duty on fuel reduced

Government yesterday reduced excise duty on fuel, in a move expected to result in a decline in prices of basic goods, as high production cost structures were being partly attributed to high fuel price...

By Staff reporter | Published: 23 January 2018

LANDS & AGRICULTURE

Dendairy to expand plant operations

Local milk processor, Dendairy, will expand its plant operations by setting up two new factories as the company seeks to expand its footprint on the export market.The expansion of the plant operations...

By Staff reporter | Published: 19 January 2018

MINING & RETAIL

Fidelity extends loan to miners

Fidelity Printers and Refiners (FPR) has so far extended loans to over 300 small-scale artisanal miners across the country, under the Gold Development Fund as uptake of the facility is increasing on r...

By Staff reporter | Published: 19 January 2018

FINANCIAL SERVICES

Zimbabwe banks reject EU financial bailout

Zimbabwean banks have since last year been rejecting access to credit facilities from European banks for on-lending to productive sectors, citing the possibility of failure to repay the loans because ...

By Staff reporter | Published: 19 January 2018

FINANCIAL SERVICES

ZB to float $50m bond for urban tollgates

ZB Financial Holdings is in discussion with Harare City Council (HCC) to fund urban tollgates in the next few months to raise money for road rehabilitation and maintenance in and around the city. ZB i...

By Staff reporter | Published: 19 January 2018

INDUSTRIALS & ENERGY

Steel gets first SEZ nod

Zimbabwe has approved its first application for a special economic zone (Sez) which will pave the way for the resuscitation of an industry value chain. The Special Economic Zones Authority, which is ...

By Staff reporter | Published: 19 January 2018

INDUSTRIALS & ENERGY

Natfoods ploughs $36m into capex

Zimbabwe Stock Exchange-listed grain and cereals milling giant, National Foods Limited, says it has invested a cumulative $36 million towards process improvements to enhance operational efficiencies s...

By Staff reporter | Published: 19 January 2018

INDUSTRIALS & ENERGY

Ethanol saves Zimbabwe $26,5 million

Ethanol fuel blending saved the country an estimated $26,5 million in 2017, representing 2,65 percent of the import bill, the Zimbabwe Energy Regulatory Authority (ZERA) has revealed.Zimbabwe introduc...

By Staff reporter | Published: 18 January 2018

FINANCIAL SERVICES

Women Bank set for opening

WOMEN and Youth Affairs Minister Sithembiso Nyoni says the much-awaited Women's Bank is set to be opened before the end of next month.Mooted some years ago, the bank which is expected to provide finan...

By Staff reporter | Published: 18 January 2018

MINING & RETAIL

Zimbabwe priorities lithium project

President Emmerson Mnangagwa's government is prioritizing the mining of lithium as it moves to revive the country's economy. Australia-based mining firm Prospect Resources said its Arcadia Lithium Dep...

By Staff reporter | Published: 18 January 2018

TELECOMS & TECHNOLOGY

Kwese TV looking for graduates trainees

Kwesé TV, an African entertainment company which is also a brand of Econet Media Limited (aka the media arm of Econet) is looking for graduates in the entertainment industry for an internship program...

By TechZim | Published: 18 January 2018

TRANSPORT & TOURISM

Zimbabwe eases tourist travel

MINISTER of Tourism and Hospitality Industry, Prisca Mupfumira, says her ministry is planning to establish a National Tourism Facilitation Committee to deal with travel impediments such as police road...

By Staff reporter | Published: 18 January 2018

INDUSTRIALS & ENERGY

Fuel price goes up

THE price of petrol and Diesel-50 has gone up by two cents to $1,41 per litre on the back of a rise in "free on board" (FOB) prices, a move that is expected to trigger another round of price increases...

By Staff reporter | Published: 18 January 2018

TRADE & INDUSTRY

Bitcoin dips below $10,000

Bitcoin has traded below $10,000 for the first time since early December.The value of one bitcoin fell to $9,958 (£7,222) before making a slight recovery, according to the price index run by the news...

By BBC | Published: 17 January 2018

INDUSTRIALS & ENERGY

Fuel prices set to rocket

Petrol prices are set to rocket in the next few weeks, experts predicted, driven by oil prices that touched the highest level in three-and-a-half years at $63,81 a barrel this week, which is 143 perce...

By Staff reporter | Published: 17 January 2018

TRANSPORT & TOURISM

Protests scuttle Air Zimbabwe audit

Protests by former Air Zimbabwe (AirZim) workers have forced the International Air Transport Association (Iata) to indefinitely postpone a scheduled audit of the beleaguered national airline.The prote...

By Staff reporter | Published: 17 January 2018

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