MINING & RETAIL

Meikles companies to go under the hammer over debt

MEIKLES stands to lose its shareholding in several of its subsidiaries after a High Court dismissed its application challenging the attachment of its shares by the sheriff over a $1,5 million debt owe...

By Staff reporter | Published: 24 December 2018

INDUSTRIALS & ENERGY

NTS after tax profit doubles

NATIONAL Tyre Services (NTS) reported an increase in profit after tax to $337 051 for the half year to September, but the company fears that fiscal and other monetary measures introduced by authoritie...

By Staff reporter | Published: 24 December 2018

INDUSTRIALS & ENERGY

SeedCo works on developing local rice seed

GIANT seed house, SeedCo says it is working on developing rice varieties suitable for local climatic conditions to reduce the country's reliance on imports. Naturally the cereal originates in tropical...

By staff reporter | Published: 24 December 2018

TELECOMS & TECHNOLOGY

Zimbabwe start-up targets foreign market

A Zimbabwean start-up, Flexi Africa, has set up an online trade platform which links local vendors to international markets.Flexi Africa chief executive Gerald Nyamadzawo told Standardbusiness that th...

By Staff reporter | Published: 23 December 2018

TELECOMS & TECHNOLOGY

Shares in Liquid are like $135m cash, says Mboweni

Econet Wireless Zimbabwe (EZW) CEO Douglas Mboweni has described the company's equity stake in Liquid Telecom Holdings, which is just under 10% as "a US$135 million forex reserve".Speaking about the f...

By Staff reporter | Published: 23 December 2018

INDUSTRIALS & ENERGY

Delta shuts soft drink plants

ZIMBABWE is headed for a dry festive season as stocks of soft drinks are expected to run out after Delta beverages shut down its plants citing inadequate foreign currency to keep them running.Delta, t...

By Staff reporter | Published: 23 December 2018

FINANCIAL SERVICES

Empower Bank to introduce agency banking

EMPOWER Bank has set sights at introducing agency bank as part of its efforts to reach out to all marginalised youths across the length and breadth of the country.Empower Bank head of marketing Mrs Ch...

By Staff reporter | Published: 23 December 2018

INDUSTRIALS & ENERGY

Indian firm to set up $40 million textile plant in Bulawayo

ONE of India's biggest and international acclaimed textile firms Shreejikrupa Spinners is considering investing over $40 million towards setting up a plant in Bulawayo soon.Industry and Commerce Deput...

By Staff reporter | Published: 23 December 2018

TELECOMS & TECHNOLOGY

Vandalism costs TelOne

DIVERSIFIED telecommunications firm, TelOne, has lost over US$3 million in the 10 months to October this year due to vandalism of network infrastructure.Of the US$3 million, US$2, 2 million was in los...

By Staff reporter | Published: 23 December 2018

TRANSPORT & TOURISM

Zimbabwe hotels named among Africa's best

DESTINATION Zimbabwe continues to attract world attention as some of its hotels have been named among the best in Africa. Recently Frommer and National Geographic Traveller named Zimbabwe as one of th...

By Staff reporter | Published: 21 December 2018

INDUSTRIALS & ENERGY

Simbisa Brands discounts US$ customers

LISTED quick-service restaurant business, Simbisa Brands, has resolved to offer discounts on its prices to customers who pay in US dollars to enhance the entity's foreign currency earnings. In an oper...

By Staff reporter | Published: 21 December 2018

MINING & RETAIL

Government mulls incentives for Zimplats

GOVERNMENT has pledged to provide fiscal incentives to Zimplats in recognition of its efforts to set up a refinery for base metals and precious stones to promote beneficiation of the minerals. Unki an...

By Staff reporter | Published: 21 December 2018

TELECOMS & TECHNOLOGY

Telecoms sector posts 9,2% profit

Zimbabwe's postal and telecommunications sector registered a 9,2 percent revenue growth in the third quarter to September, 2018 on the back on increased usage of data and internet. In its Postal Telec...

By Staff reporter | Published: 21 December 2018

MINING & RETAIL

Mnangagwa commissions diamond mining plant

President Mnangagwa yesterday commissioned a Zimbabwe Consolidated Diamond Company (ZCDC) crushing plant here, marking the country's transition from alluvial to conglomerate diamond mining as he warne...

By Staff reporter | Published: 21 December 2018

LANDS & AGRICULTURE

Seed-Co developing rice varieties

Regional seed producer Seed-Co says it is working on developing rice varieties suitable for the local climatic conditions in order to scale back the country's reliance on rice imports.Naturally, the c...

By Staff reporter | Published: 19 December 2018

MINING & RETAIL

Miner lays contempt of court charge against Nyambirai

GOROMONZI miner Phillip Makanya has petitioned the High Court to charge businessman Tawanda Nyambirai with contempt of court for ignoring a court order barring him from interfering with his mining act...

By Staff reporter | Published: 19 December 2018

BUSINESS NEWS

Firm seeks to recover land from defunct AfrAsia Bank

A LOCAL firm, Drummond Zimbabwe Holdings (Pvt) Ltd, has petitioned the High Court seeking an order to be allowed to file litigation against AfrAsia Bank Limited, a subsidiary of Mauritius-based AfrAsi...

By Staff reporter | Published: 19 December 2018

TELECOMS & TECHNOLOGY

Cassava makes history

Cassava SmarTech Zimbabwe made history yesterday when it debuted in the market at a price of $1,50 per share, valuing the company at $3,8 billion. It immediately became Zimbabwe's third most valuable ...

By Staff reporter | Published: 19 December 2018

INDUSTRIALS & ENERGY

Forex shortage: Innscor looks within

DIVERSIFIED group, Innscor Africa Limited says it is now leveraging on its domestic fast-moving consumer goods line to cushion itself from high foreign currency requirements. The company said although...

By Staff reporter | Published: 19 December 2018

INDUSTRIALS & ENERGY

Private equity firms eye David Whitehead

David Whitehead is in serious negotiations with two unnamed investors seeking to inject fresh capital and revive the struggling textile firm, sources familiar with the talks have revealed. The company...

By Staff reporter | Published: 19 December 2018

MINING & RETAIL

Zimbabwe to unveil platinum policy

GOVERNMENT will soon unveil a platinum policy to provide the framework for developing the sector, Mines minister Winston Chitando has said.Platinum is one of the two minerals, along with diamonds, in ...

By Staff reporter | Published: 17 December 2018

TELECOMS & TECHNOLOGY

Potraz breaks foreign networks dominance

THE growing network infrastructure investment in previously unserved areas by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has increased connectivity in the country. The...

By Staff reporter | Published: 17 December 2018

TRANSPORT & TOURISM

Brisk business for Victoria Falls tourism players

A MAJORITY of tourism players in Victoria Falls managed to break even in terms of arrivals and income this year owing to renewed interest generated by the new political administration. The Employers' ...

By Staff reporter | Published: 17 December 2018

TRANSPORT & TOURISM

American restaurant comes to Bulawayo

AMERICAN restaurant chain, Pizza Hut is set to open its second outlet in Zimbabwe with Bulawayo being the chosen city. The first outlet at Sam Levy's Village in Harare was opened in February. The Bula...

By Staff reporter | Published: 17 December 2018

TRANSPORT & TOURISM

HCC sues NRZ

Harare City Council (HCC) has dragged the government-owned National Railways of Zimbabwe (NRZ) to the High Court over failure to pay rates totalling more than $200 000.In its founding affidavit, HCC t...

By Staff reporter | Published: 16 December 2018
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