MINING & RETAIL

Gold deliveries soar

GOLD deliveries soared to almost 14,7 tonnes in the first eight months of the year, driven by a strong performance by small-scale miners, statistics reveal.Small-scale miners, who largely use rudiment...

By Staff reporter | Published: 21 September 2017

TRANSPORT & TOURISM

Air Zimbabwe ordered to reinstate 300 workers

THE Labour Court has given Air Zimbabwe (Pvt) Ltd a 60-day ultimatum to either reinstate or pay damages to 300 workers whose contracts were unlawfully terminated on three months' notice in 2015.Labour...

By Staff reporter | Published: 21 September 2017

TRANSPORT & TOURISM

NRZ to showcase top-end passenger services

THE National Railways of Zimbabwe (NRZ) will be showcasing its top-end passenger services at this year's Sanganai/Hlanganani World Tourism Fair as part of efforts to promote tourism in the country.The...

By Staff reporter | Published: 21 September 2017

INDUSTRIALS & ENERGY

Baker's Inn increases market share to 48%

BAKER'S Inn says it has increased its market share to about 48 percent from 42 percent across the country on the back of increased investment on plant upgrade and maintenance.Last month, the giant bre...

By Staff reporter | Published: 21 September 2017

FINANCIAL SERVICES

Zims banking system as a hindrance' to trade

Iranian MPs yesterday described Zimbabwe's banking system as a hindrance to business and trade between the two countries, as it had become a nightmare to transfer money across borders.MPs from the Ira...

By Staff reporter | Published: 21 September 2017

FINANCIAL SERVICES

Pensions sector boosts income

The pensions industry recorded total income of $112 million in the first quarter ended March this year attributable to contributions, rental and investment income, the sector regulator has said.The In...

By Staff reporter | Published: 20 September 2017

LANDS & AGRICULTURE

Govt may approach private sector over wheat storage

Government is considering approaching the private sector to assist with storage facilities for wheat as the country's silos will filled with grain harvested during the 2016/17 summer cropping season, ...

By Staff reporter | Published: 20 September 2017

INDUSTRIALS & ENERGY

AfriSam, PPC merger can create significant benefits

AfriSam Group is confident its proposed merger with PPC Ltd has potential to create significant benefits for all shareholders and stakeholders."AfriSam and PPC have a proud collective business history...

By Agencies | Published: 20 September 2017

MINING & RETAIL

Edgars maintains solid financial position

LISTED clothing retailer, Edgars Stores Limited has maintained a sound financial position allowing the company to meet its short-term financial obligations driven by reduction in net borrowings and en...

By Staff reporter | Published: 20 September 2017

LANDS & AGRICULTURE

Fairhill Chickens' production down 25%

GWERU-based poultry producer, Fairhill Chickens' production has plummeted by more than 25 percent owing to the highly pathogenic H5N8 avian influenza virus commonly known as bird flu, which broke out ...

By Staff reporter | Published: 20 September 2017

LANDS & AGRICULTURE

Govt to avail $20m to small-scale tobacco farmers

THE Government will this summer cropping season avail a $20 million loan facility to support small-scale tobacco farmers.Agriculture, Mechanisation and Irrigation Development Minister, Dr Joseph Made ...

By Staff reporter | Published: 20 September 2017

INDUSTRIALS & ENERGY

Triangle seeks distribution licence

Sugar producer, Triangle Limited, has applied to the Zimbabwe Energy Regulatory Authority (Zera) for an independent electricity distribution licence covering its operations.In a recent notice, Zera sa...

By Staff reporter | Published: 20 September 2017

INDUSTRIALS & ENERGY

PPC Zimbabwe here to stay, says Masiyane

LOCAL cement producer, PPC Zimbabwe, has invested over $120 million in different projects in Zimbabwe since 2009 and is looking forward to do more, managing director, Kelibone Masiyane has said.Masiya...

By Staff reporter | Published: 20 September 2017

FINANCIAL SERVICES

ZB hails sanctions delisting

ZB FINANCIAL Holdings (ZB) has lauded the United States' decision to remove the institution from the sanctions list, saying the move re-opened avenues to work with other financial institutions across ...

By Staff reporter | Published: 20 September 2017

INDUSTRIALS & ENERGY

Nestlé Zimbabwe retrenches

Multi-national food and drink company, Nestle Zimbabwe, has embarked on a retrenchment exercise, as part of the company's "business optimisation activities".The exercise, which was voluntary, saw more...

By Staff reporter | Published: 19 September 2017

MINING & RETAIL

Edgars interim profit jumps 400%

Listed clothing retailer Edgars Stores Limited's profit for the half year to July 2017 jumped 400 percent to $567 499 from $109 119 during the same period last year on increased sales and tighter debt...

By Staff reporter | Published: 19 September 2017

LANDS & AGRICULTURE

Zimbabwe tobacco sales hit $558 million

Farmers have sold $558,8 million worth of tobacco since the start of the 2017 tobacco marketing season, a 6,7 decline compared to the same period last year.Latest statistics from the industry regulato...

By Staff reporter | Published: 19 September 2017

BUSINESS NEWS

POSB depositors surge to 600 000 in three years

THE People's Own Savings Bank (POSB) has survived the hard economic conditions in the country and its depositors have risen to 600 000 in the last three years.This was revealed by the bank's public re...

By Staff reporter | Published: 19 September 2017

INDUSTRIALS & ENERGY

Rubber products back on line, resumes exports

BULAWAYO-BASED manufacturing concern Rubber Products Manufacturers is back on line and has resumed exports after having shut down in 2013 due to a huge debt, shortage of working capital, among other c...

By Staff reporter | Published: 19 September 2017

CONSTRUCTION & PROPERTY

Masimba to construct houses in Kariba

Industrial firm Masimba has been given a $15 million contract by IDBZ to build over 1 500 houses in Kariba. At completion the project will facilitate relocation of 391 house-holds who are presently at...

By Staff reporter | Published: 19 September 2017

TRANSPORT & TOURISM

NRZ investors fret over delays

National Railways of Zimbabwe (NRZ) investors are fretting over endless delays in consummating the deal, especially after being announced as the preferred partner last month, it has been learnt. A con...

By Staff reporter | Published: 19 September 2017

TELECOMS & TECHNOLOGY

Blocked in Zim, Kwese TV launches in SA

ZIMBABWEAN telecoms tycoon Strive Masiyiwa's new pay television service, Kwese TV, has kick-started services in South Africa through a partnership with Netflix, it said on Friday as it seeks to claw u...

By Staff reporter | Published: 19 September 2017

INDUSTRIALS & ENERGY

CFI secures $10m for rehab

CFI Holdings' divisions, Agrifoods and Victoria Foods, may soon resume production after judicial manager Mr Reggie Saruchera secured $10 million from a local bank for plant rehabilitation and working ...

By Staff reporter | Published: 19 September 2017

MINING & RETAIL

Gold output increases

ZIMBABWE'S gold production has risen by about 10 percent in the first eight months of the year to 14.6 tonnes from 13.4 tonnes in the comparable period in 2016, official figures show.The country's exp...

By Staff reporter | Published: 19 September 2017

LANDS & AGRICULTURE

GMB ordered to pay farmers

The Government has directed the Grain Marketing Board (GMB) to immediately activate satellite collection points to mop up the remaining grain as the Strategic Grain Reserve has hit a million tonnes.Th...

By Staff reporter | Published: 19 September 2017

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