BUSINESS NEWS

AfDB initiative to create 25 million jobs

THE African Development Bank (AfDB) has launched a Youth Advisory Group that seeks to create 25 million jobs in Africa with target impact on 50 million youths over the next 10 years.The Presidential ...

By Staff reporter | Published: 01 December 2017

INDUSTRIALS & ENERGY

Bata upgrades factory plant

THE country's largest shoe manufacturer Bata Shoe Company has embarked on a massive upgrade of its Gweru plant, which is aimed at improving the quality of its products and diversifying production.Bat...

By Staff reporter | Published: 01 December 2017

MINING & RETAIL

Zimasco set to come out of judicial management

ZIMBABWE's largest ferrochrome producer, Zimasco, is expected to come out of judicial management early next year after a successful turnaround plan that will enable the company to pay its creditors w...

By Staff reporter | Published: 01 December 2017

MINING & RETAIL

LPG use on the rise

The Zimbabwe Regulatory Authority (Zera) says there has been a rapid growth in liquefied gas petroleum gas (LPG) usage in the country as its use became popular as an alternative energy source especia...

By Staff reporter | Published: 01 December 2017

MINING & RETAIL

Zim diamond company improves gem quality

THE Zimbabwe Consolidated Diamond Company's (ZCDC) stock pile of about 1,5 million carats has improved its gem or near gem quality from predominantly industrial quality by 34 percentage points followi...

By Staff reporter | Published: 01 December 2017

MINING & RETAIL

Zimbabwe to miss out on energy mineral spend

WHILE Zimbabwe has the geological resource base to step up production of lithium the political risk in the country is still so great it is highly unlikely any investment for new lithium mines will flo...

By miningmx | Published: 30 November 2017

BUSINESS NEWS

Mnangagwa urged to scrap indigenisation law

ECONOMIC analysts say the best way for President Emmerson Mnangagwa's government to attract serious and long-term investment into the country is to scrap the controversial indigenisation law that has ...

By Staff reporter | Published: 30 November 2017

MINING & RETAIL

'Mugabe exit to spur Zimbabwe mines'

THE dramatic exit of Zimbabwe's longtime ruler, Robert Mugabe, heralds a positive turn for the country's mining industry, researchers at the London-based Equities Development Limited (ED) have said.ED...

By Staff reporter | Published: 30 November 2017

TRANSPORT & TOURISM

NRZ lays recovery plan

THE National Railways of Zimbabwe (NRZ) says it will sign more service level agreements with major customers next year to boost business.NRZ general manager Lewis Mukwada told NewsDay that the parasta...

By Staff reporter | Published: 30 November 2017

TRANSPORT & TOURISM

Cresta Hotels in major upgrade

CRESTA Hotels continues to undertake upgrading and renovation work at its various hotels in southern Africa, including Zimbabwe, recently completing project work at Cresta Churchill in Bulawayo and an...

By Staff reporter | Published: 30 November 2017

MINING & RETAIL

Meikles stores division ailing

FINANCIAL results for Meikles Limited published last week show the group's stores division to be ailing. The group, however, had a decent outing during the period, buoyed by the supermarkets, agricult...

By Staff reporter | Published: 30 November 2017

MINING & RETAIL

OK profits from panic and plastic

PANIC buying, triggered by fears of basic commodity shortages and price hikes spurred OK Zimbabwe's revenue during the half year ended September 30, 2017, an analysis by Old Mutual Securities (OMSEC) ...

By Staff reporter | Published: 30 November 2017

INDUSTRIALS & ENERGY

Zimbabwe rejects Indian power bid

THE Zimbabwe Power Company (ZPC) and the State Procurement Board (SPB) last week rejected a tender bid by an Indian consortium, ThyssenKrupp Industries in partnership with Technofab Engineering (Priva...

By Staff reporter | Published: 30 November 2017

FINANCIAL SERVICES

US dollars return to Zim banks and ATMs

Information that is circulating online is indicating that the US dollar has made its way back to the economy, TechZim reported.For some who are out of the country this may seem to be silly news, but f...

By Staff reporter | Published: 30 November 2017

MINING & RETAIL

Meikles exits financial services market

ZIMBABWE Stock Exchange listed diversified conglomerate, Meikles Limited, has disposed its financial services arm due to the worsening cash crisis in the country and stringent central bank regulations...

By Staff reporter | Published: 30 November 2017

BUSINESS NEWS

'Bond listing helps deepen capital markets'

GOVERNMENT has said the maiden listing of the Infrastructure Development Bank of Zimbabwe (IDBZ) energy bonds provides flexibility to investors in terms of investment period and helps the bank to achi...

By Staff reporter | Published: 30 November 2017

FINANCIAL SERVICES

GetBucks bullish about outlook

FINTECH microfinance institution, GetBucks says there are signs of confidence restoration as the bank has started receiving both local and diaspora deposits following the ushering in of a new dispensa...

By Staff reporter | Published: 30 November 2017

BUSINESS NEWS

Mnangagwa's new Zimbabwe cabinet structure

Proposed civil service reorganisation....

By Staff reporter | Published: 30 November 2017

LANDS & AGRICULTURE

Tobacco exports clock $827 million

ZIMBABWE's tobacco export earnings have so far reached $827.4 million rising by seven percent from $771.8 million during the corresponding period last year.The Tobacco Industry and Marketing Board (TI...

By Staff reporter | Published: 30 November 2017

MINING & RETAIL

Zimasco engages creditors

Kwekwe-based chrome smelting company Zimbabwe Mining and Smelting Company (Zimasco), met its creditors yesterday to deliberate on the proposed scheme of arrangement. This comes after Zimasco, which is...

By Staff reporter | Published: 30 November 2017

FINANCIAL SERVICES

Untu Capital seeks to raise $5m

A local microfinance institution, Untu Capital, is seeking to raise $5 million through listing on the Financial Securities Exchange (Finsec) Alternative Trading Platform board before year end.The prop...

By Staff reporter | Published: 30 November 2017

TRANSPORT & TOURISM

NRZ projects 32% revenue growth

The National Railways of Zimbabwe (NRZ) is projecting a 32 percent revenue growth for this year up from the $66 million achieved last year due to grain, chrome ore and passenger railway uptake. The gr...

By Staff reporter | Published: 30 November 2017

MINING & RETAIL

'Zim should work with international investors'

THE political leadership in Zimbabwe should work closely with international investors to revamp the manufacturing sector through crafting strategies that uphold economic growth and lead to the return ...

By Staff reporter | Published: 30 November 2017

LANDS & AGRICULTURE

Command wheat could save country $100m

Zimbabwe could save over $100 million in foreign currency if it achieves wheat output of 200 000 tonnes this year, up from 65 000 tonnes attained last year. The expected rise in tonnage comes after Go...

By Staff reporter | Published: 30 November 2017

INDUSTRIALS & ENERGY

Nampak Zimbabwe FY net income up 13%

PACKAGING group Nampak Zimbabwe recorded a 13,5 percent growth in net income for the year to September 30 to $4,9 million from $4,3 million in the prior period.Revenue was higher at $96,2 million, fro...

By The Source | Published: 29 November 2017

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