MINING & RETAIL

Parrogate to invest $18m in Alaska chrome smelter

PARROGATE Zimbabwe plans to set up chrome smelters in Mhangura, at an estimated cost of $18 million, with potential to generate $40 million in export earnings annually, managing director Ganediwal sai...

MINING & RETAIL

Zesa gold tariff reduced by 34%

Zimbabwe's power utility Zesa has reduced its tariff for gold miners by 34% to USc7,87/energy unit following calls from the miners who argued that the charges were hurting their operations.Gold produc...

FINANCIAL SERVICES

RBZ transforms MFIs in financial inclusion thrust

Microfinance institutions (MFIs) are being transformed to aid financial inclusion taking on-board the marginalised groups, Reserve Bank of Zimbabwe (RBZ) deputy governor Jesimen Chipika has said.Speak...

FINANCIAL SERVICES

BancABC conduit for dodgy funds

BancABC, which has subsidiaries in Botswana, Mozambique, Zambia and Tanzania, was one of the major conduits for dodgy diamond funds flowing internally and across borders, the Zimbabwe Independent has ...

TELECOMS & TECHNOLOGY

DStv sued over US dollar subscriptions

A HARARE lawyer has approached the High Court seeking an order compelling Skynet Private Limited (Multichoice Zimbabwe) to accept bank card swipe, bank transfers, ecocash and bond notes for DSTV subsc...

TELECOMS & TECHNOLOGY

TelOne draws $54 million for NBB

STATE-OWNED telecommunications operator TelOne has to date drawn down $54 million from its $98 million facility for the National Broadband (NBB) Project financed by the ChinaEXIM Bank as the company m...

LANDS & AGRICULTURE

Irvine's sues for $1,36 million debt

Irvine's Zimbabwe (Pvt) Ltd has approached the High Court seeking to compel Valhalla Chickens (Pvt) Ltd's liquidator, Winsley Militala, and another company called Robbyryan (Pvt) Ltd, to settle a $1,3...

MINING & RETAIL

Artisanal gold miners descend on Arda Transau

HUNDREDS of artisanal gold miners have descended on Arda Transau following rich gold deposit discoveries in the area, crowding out families relocated to the area from Chiadzwa.The gold rush in the com...

Small scale miners bemoan shortage of funds

Small scale miners in Matabeleland South say their access to loan facilities has been very limited compromising their potential.The miners have also called on the need to speed up claims disputes whic...

TELECOMS & TECHNOLOGY

Econet owed over $26m

MOBILE telecommunications operator, Econet Wireless Zimbabwe (Econet), is owed over $26 million by local partners, a situation that has affected the firm's cash flow, chairman, James Myers, has said....

MINING & RETAIL

Mittal family firm snaps up ZimAlloys

ONE of India's leading ferrochrome manufacturers, Balasore Alloys, controlled by the Mittal family, is on the cusp of taking over chrome miner, Zimbabwe Alloys (Zim Alloys), with plans to inject nearl...

FINANCIAL SERVICES

FML sees balance sheet growth

FIRST Mutual Holdings Limited (FML) has said shareholder assent for the acquisition of NicozDiamond has poised the company to bolster its balance sheet to nearly $300 million by year end.Speaking to T...

LANDS & AGRICULTURE

Zim govt to re-establish agriculture boards

GOVERNMENT is planning to re-establish agricultural boards, a move likely to result in the restoration of controls that had ended with liberalisation of the economy in the late 1990s.Minister of Agric...

FINANCIAL SERVICES

AfDB hunts for country manager

AFRICAN Development Bank (AfBD) is hunting for a country manager after Mateus Magala left the Zimbabwean mission two years ago to head Mozambique's energy development utility.Well-placed sources at th...

INDUSTRIALS & ENERGY

Zimra garnishes Trek bank accounts

TREK Petroleum faces closure after the Zimbabwe Revenue Authority (ZIMRA) garnished its bank accounts over a $45 million tax debt.According to court documents, the tax was incurred by a company called...

FINANCIAL SERVICES

Chaos reigns supreme at Zinara

CHAOS continues to rein supreme at the Zimbabwe National Roads Administration (ZINARA) amid indications that Ministry of Transport and Infrastructure Development's permanent secretary Machivenyika Map...

INDUSTRIALS & ENERGY

Olivine, workers tussle over retrenchment

FAST moving consumer goods manufacturer, Olivine Industries, which recently laid off nearly a third of its employees, has temporarily rescinded the plan after workers opposed the move and now seeks to...

FINANCIAL SERVICES

Insurers embrace partnerships

ZIMBABWE'S insurance firms are rapidly realising that they will need to strategically partner with deep-pocketed and innovative players in the industry to stay relevant in an increasingly digital envi...

LANDS & AGRICULTURE

Government's command agric targets fruit trees

GOVERNMENT has tasked the Forestry Commission to spearhead its command agriculture programme targeting fruit tree production, a Cabinet Minister has said.The government last year launched the command ...

LANDS & AGRICULTURE

Winter wheat output to rise

ZIMBABWE will this year import about 345 000 tonnes of wheat as preliminary data indicates that the 2017 winter crop will produce an estimated 105 000 tonnes.The Grain and Feed Annual Report (GFAR) fo...

LANDS & AGRICULTURE

Zimbabwe faces illicit pesticide risk

THE illegal trade in counterfeit pesticides by unregistered dealers is putting farmers' and consumers' lives at risk as unregulated and often toxic chemicals enter the food chain, a government officia...

MINING & RETAIL

Jaggers liquidator denies graft claims

GRANT Thornton, which is overseeing the liquidation of Jaggers Wholesalers, has dismissed claims by ex-workers that the exercise had been hit by corruption.Former workers told The Financial Gazette th...

MINING & RETAIL

Zim retailers warn of shortages

ZIMBABWE could soon start experiencing inadequate supplies of food and other products caused by worsening foreign currency shortages, local retailers have warned.Confederation of Zimbabwe Retailers (C...

TRANSPORT & TOURISM

New airline seeks permit

A NEW airline company, MJ Air Private Limited, has applied for a permit to launch operations in Zimbabwe.The Air Services Board announced in a notice in the August 18 issue of the Government Gazette t...

MINING & RETAIL

RBZ to clear retailers' telegraphic transfers

The Reserve Bank of Zimbabwe (RBZ) is set to resolve the increasing foreign currency allocation challenge that has hit local retailers and suppliers who for a long time have been failing to secure sto...