FINANCIAL SERVICES

Cabinet approves IDC financing role

CABINET has approved proposals by the Ministry of Industry and Commerce for the Industrial Development Corporation to become an industrial financing entity.The move is part of ongoing measures by Gove...

FINANCIAL SERVICES

WannaCry virus hit Zimbabwe banks

The government says it has identified two banks which were among several institutions affected by the WannaCry virus global attack from May 12 to 15 that affected a cross section of institutions.Speak...

FINANCIAL SERVICES

Barclays deal under new threat

The takeover of Barclays Bank Zimbabwe by Malawi-based First Merchant Bank has hit a new snag and is under threat from the controversial indigenization policy compelling foreign investment compelling ...

TELECOMS & TECHNOLOGY

Makamba exits Telecel

Self-exiled businessman James Makamba (right) has sold his stake in Empowerment Corporation, a 40 percent shareholder in Telecel Zimbabwe to a local consortium for an undisclosed amount.However, with ...

FINANCIAL SERVICES

Banks record $100m profit

Zimbabwean banks have made $100,59 million profit in the half year to June 30, 2017, representing an increase of 47,99 percent from $67,97 million reported in the corresponding period last year, the c...

LANDS & AGRICULTURE

Brazil to avail 2nd phase of agricultural equipment

Zimbabwe has engaged Brazil to release the second batch of agricultural equipment under the South American country's More Food for Africa Program, an envoy said on Wednesday.Zimbabwe received the firs...

INDUSTRIALS & ENERGY

Sunbird Energy conducts EIA

Sunbird Bioenergy Zimbabwe has started conducting a full environmental impact assessment for its $150 million bio-ethanol plant in Mashonaland Central Province.The process is in conformity with the En...

TELECOMS & TECHNOLOGY

Potraz to roll out multi-million dollar USF project

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) said on Wednesday it will soon be rolling out a multi-million dollar project under the Universal Services Fund (USF) to prov...

LANDS & AGRICULTURE

Tobacco farmers to benefit from empowerment trust

100 tobacco farmers will benefit from the BAT Zimbabwe Tobacco Empowerment Trust which will see indigenous small scale farmers in tobacco regions being capacitated with best agricultural techniques.Th...

TELECOMS & TECHNOLOGY

Zimbabwe govt guns for 100% stake in Telecel

Minister of Information and Communication Technology, Postal and Courier Services, Supa Mandiwanzira told a mobile money conference in Harare on Thursday that the Zimbabwe government is eyeing to who...

MINING & RETAIL

Sibanye eyes 7 400 job cuts

The mining bloodbath is continuing, with Sibanye on Thursday announcing a restructuring plan that could see about 7 400 jobs being cut.The miner, which employs 58 000 workers in South Africa, announce...

MINING & RETAIL

AngloGold, Harmony deal stall on new Mining Charter

Harmony Gold Mining Co.'s long-running talks to buy AngloGold Ashanti Ltd.'s South African assets have stalled because of uncertainty over the country's new mining regulations, according to people fam...

MINING & RETAIL

RBZ to market platinum, chrome

THE Reserve Bank of Zimbabwe (RBZ) will, with immediate effect take control of the marketing of platinum and chrome, in a move it says will improve transparency and efficient utilisation of foreign cu...

TRANSPORT & TOURISM

International Airlines rescued from payments backlog

THE Reserve Bank of Zimbabwe (RBZ) has begun allocating foreign currency for remittance of cash from ticket sales by international airlines, which have been failing to repatriate payments due to forei...

INDUSTRIALS & ENERGY

SecZ piles pressure on Turnall over fraud charge

TURNALL Holdings is studying a complaint by LHG Malta Holdings Limited to regulators over possible contravention of the Securities and Exchange Commission of Zimbabwe (SECZ) Act and the validity of a ...

LANDS & AGRICULTURE

End of tobacco season to worsen forex crisis

INDUSTRY has expressed fears over an expected worsening of foreign currency shortages in the aftermath of the tobacco selling season, which had mitigated a foreign payments backlog.The tobacco sellin...

FINANCIAL SERVICES

RBZ sets up fund for dividend repatriation

FOREIGN investors on the Zimbabwe Stock Exchange will soon be able to repatriate dividends and proceeds from equity trades following a central bank plan to establish a portfolio investment fund aimed ...

FINANCIAL SERVICES

DPC warns against unregistered lenders

The Deposit Protection Corporation (DPC) has warned the public against depositing cash with unregistered microfinance institutions, saying they risked losing their money to dubious entities.Over 100 ...

LANDS & AGRICULTURE

Tongaat refuse to buy settlers' cane

HUNDREDS of farmers who last year seized 4 400 hectares of sugarcane fields from Tongaat Hulett in Chiredzi are now in a quandary after the agro-industrial giant refused to buy their crop.The farmers,...

MINING & RETAIL

Govt identifies Zisco partner

GOVERNMENT has identified a new investor to revive operations at Zisco after the $750 million deal with an Indian conglomerate, Essar Global collapsed in 2015.Zisco ceased operations in 2008 due to se...

Hwange Colliery partners European firm

COAL miner Hwange Colliery Company Limited has selected a European company to conduct exploration and drilling at its new concession in western and Lubimbi fields in Hwange. Managing director Mr Thoma...

CONSTRUCTION & PROPERTY

Vakayi Capital makes first investment in Zimbabwe

Vakayi Capital, a venture capital firm, has availed about $400 000 to Homelux Property Development which will go towards the development of residential stands in Tynwald Harare.Vakayi is an SME-focuse...

TELECOMS & TECHNOLOGY

Potraz to roll out multi-million dollar project

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) yesterday said it will soon be rolling out a multi-million dollar project under the Universal Services Fund (USF).The projec...

LANDS & AGRICULTURE

Maize deliveries hit 450,000 tonnes

Grain deliveries to the Grain Marketing Board for the 2016 /17 farming season have tripled to 450 000 tonnes compared to the corresponding period, a senior Government has said. Farmers started deliver...

MINING & RETAIL

Zim asks court to compulsory acquire Zimplats land

Zimbabwe has filed a court application to enforce a previous notice to seize more than half of platinum producer Zimplats' mining land, the company said on Wednesday.Zimplats, which is majority contro...