BUSINESS NEWS

'ZIDA Bill to improve ease of doing business'

THE Zimbabwe Investment and Development Agency (ZIDA) Bill gazetted early this month will among other things, seek to curb environmental degradation by big investment projects.The Bill is aimed at imp...

By Staff reporter | Published: 24 April 2019

FINANCIAL SERVICES

Afreximbank disburses €100m to Mota-Engil Africa

Regional lender, African Export-Import Bank (Afreximbank) has disbursed a €100 million facility to a revolving global credit facility to support Mota-Engil Africa implement key developmental project...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Mnangagwa pens $5 billion mining deal

PRESIDENT Emmerson Mnangagwa's government has inked what it has termed a major mining investment deal with Chinese company, Tsingshan Holdings.The deal, signed by Mines minister Winston Chitando and T...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Karo platinum project still at exploration stage

LAST year during the run-up to the elections, President Emmerson Mnangagwa announced a $4,2 billion platinum mining deal with Karo Platinum, owned by London Stock Exchange-listed Tharisa Plc. NewsDay ...

By Staff reporter | Published: 24 April 2019

FINANCIAL SERVICES

BancABC doubles profits on increased lending

BANCABC'S after tax profit increased more than two-fold to US$10,8 from US$5,2 million in the full year ended December 31, 2018, driven by growth in net interest income as the bank upped its lending.I...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Zanu-PF gold baron, 9 others up for public violence

Prominent Chinhoyi gold dealer and Zanu-PF politician, Gerald Sairon, and nine others have been arrested and charged with public violence.Sairon, who is also the general manager at the controversial E...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Miners say 'use it or lose it' concept spot on

GOVERNMENT should expedite implementation of the "use it or lose it" concept as announced by President Emmerson Mnangagwa so as to unlock new economic opportunity and create more jobs, small scale min...

By Staff reporter | Published: 24 April 2019

INDUSTRIALS & ENERGY

Lancashire Steel deal collapses

A DEAL in which Indian firm, Whinstone Enterprises, was set to pour in funding into Lancashire Steel in a joint venture arrangement, has crumbled after the firm failed to follow laid down Government p...

By Staff reporter | Published: 24 April 2019

INDUSTRIALS & ENERGY

Autoworld Zimbabwe launches new Isuzu

MOTOR vehicle dealer, Autoworld Zimbabwe, yesterday launched a new Isuzu D-MAX vehicle in Bulawayo and targets to sell about 500 units by the end of the year. The vehicle was launched at the ongoing Z...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Zimbabwe seals $5 billion deal for new steel plant

GOVERNMENT yesterday signed an investment deal worth more than $5 billion with a Chinese steel manufacturing giant, Tsingshan, for the setting up of a new steel plant in Mvuma and to bankroll a number...

By Staff reporter | Published: 24 April 2019

LANDS & AGRICULTURE

'Mechanisation is the key to productivity'

Government should continue assisting farmers with mechanisation programmes to improve productivity on farms which are heavily under-mechanised after the land reform programme. Speaking with The Herald...

By Staff reporter | Published: 24 April 2019

BUSINESS NEWS

Industry gets 80% fuel

Industrialists say fuel availability has improved "significantly" in the last few months since Government took the bold decision to adjust the price upwards, with indications that the manufacturing se...

By Staff reporter | Published: 24 April 2019

TRANSPORT & TOURISM

Vaya launches free shuttle service to ZITF guests

ECONET'S Vaya mobility service has hit Bulawayo by storm, taking advantage of the Zimbabwe International Trade Fair (ZITF) to launch its new shuttle service by offering free rides to exhibitors, busin...

By Staff reporter | Published: 24 April 2019

LANDS & AGRICULTURE

Zimbabwe expects 200 million kg of tobacco

Zimbabwe's tobacco output is expected to decline to 200 million kilogrammes this year owing to unfavourable weather conditions under which the crop was grown, the industry regulator has said. Last yea...

By Staff reporter | Published: 24 April 2019

MINING & RETAIL

Zimbabwe targets US$4bn in mining exports

Zimbabwe is this year targeting a 28 percent increase in mineral export earnings as the sector gears towards Vision 2030 target of an annual haul of US$12 billion per annum by 2023. Zimbabwe last year...

By Staff reporter | Published: 24 April 2019

LANDS & AGRICULTURE

Tobacco deliveries increase as prices firm

Tobacco deliveries at most auction floors are increasing gradually, with the Government yesterday saying it expected prices to firm after the Easter holidays. The 2019 tobacco marketing season started...

By Staff reporter | Published: 24 April 2019

BUSINESS NEWS

'262 million Zimbabwe-bound substandard products rejected'

Bureau Veritas (BV), an international firm contracted by government to undertake consignment-based conformity assessment (CBCA) for imports destined for Zimbabwe, says it has rejected 262 million subs...

By Staff reporter | Published: 12 February 2019

MINING & RETAIL

Wrangle over Zimbabwe diamond mine continues

THE stalemate over the pricing of River Ranch Mine, situated in the border town of Beitbridge, continues unabated as the owners, Rani Investments, and potential buyers, the Zimbabwe Consolidated Diamo...

By Staff reporter | Published: 12 February 2019

INDUSTRIALS & ENERGY

Merlin judicial manager pleads with shareholders

MERLIN judicial manager Cecil Madondo has pleaded with company shareholders to withdraw court cases or risk the company's total shutdown.Once listed among the largest textile companies in the country,...

By Staff reporter | Published: 12 February 2019

FINANCIAL SERVICES

Capital Bank Corporation provisionally winds up

Capital Bank Corporation has been provisionally wound up after the financial institution failed to service its debts amounting to over $25 million.The decision by the High Court followed an applicatio...

By Staff reporter | Published: 12 February 2019

MINING & RETAIL

PPC volumes up

Pretoria Portland Cement (PPC) says volumes at its local unit grew by a single digit, compared to the same period last year due to operational challenges experienced in the third quarter of the financ...

By Staff reporter | Published: 07 February 2019

TRANSPORT & TOURISM

ZTA replaces Kaseke

Environment, Tourism and Hospitality Industry minister Priscah Mupfumira has appointed Rita Likukuma as Zimbabwe Tourism Authority (ZTA) acting chief executive officer, effective from February 1, 2019...

By Staff reporter | Published: 07 February 2019

INDUSTRIALS & ENERGY

Major shareholder cuts off forex support to Nampak

PACKAGING manufacturer Nampak Zimbabwe says it has been cut off by its major shareholder Nampak Holdings, which has been assisting it with foreign currency due to non-payment of outstanding debts.The ...

By Staff reporter | Published: 07 February 2019

MINING & RETAIL

Trojan operating at 50%

Bindura Nickel Corporation (BNC)'s Trojan Mine (Trojan) is operating at 50% capacity as part of a deliberate mining strategy guided by depressed nickel prices. Batanai Manhando, BNC managing director,...

By Fin Gaz | Published: 07 February 2019

FINANCIAL SERVICES

Untu Capital foreign backers withdraw support

African Guaranteed Fund (AGF), the foreign backers of Untu Capital's bond issue, have withdrawn their support to the microfinance company citing Zimbabwe's current unpredictable economic environment, ...

By Staff reporter | Published: 06 February 2019
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