MINING & RETAIL

Falgold revenue falls

ZIMBABWE Stock Exchange-listed firm Falcon Gold said revenue for six months to this March fell 56 percent following the shutdown of Dalny Mine in August last year.Sales from the bullion declined to $6...

INDUSTRIALS & ENERGY

Meikles in major shake up

Meikles has fired one of its directors and senior manager for TM Supermarkets, Mr Bisset Chimhini, in a management shake-up that is expected to claim the scalps of two or even more directors, The Hera...

Zimpost expects flat performance

Zimpost expects a flat performance in the topline but is forecasting better performance in 2015 as new products begin to perform, a company official said.Zimpost introduced an array of products with t...

FINANCIAL SERVICES

NMB Bank puts plans on hold

LISTED financial institution, NMB Bank has put on hold plans to raise about $5 million mainly from pension funds to provide loans to small and medium enterprises after the bank managed to raise "more ...

INDUSTRIALS & ENERGY

Essar to inject funds into Lancashire Steel

Essar Holdings has agreed to immediately inject money into Lancashire Steel and production is expected within the next six months, deputy Minister of Industry and Commerce Chiratidzo Mabuwa has said.L...

CONSTRUCTION & PROPERTY

Lafarge to invest $250m in new plant

Lafarge Cement says it may invest up to $250 million towards setting up a new cement manufacturing plant. However, for now, the company is still looking for feasible limestone deposits.Chief executive...

INDUSTRIALS & ENERGY

Essar to revive Lancaster Steel

Essar Holdings has agreed to immediately inject money into Lancashire Steel and production is expected within the next six months, deputy Minister of Industry and Commerce Chiratidzo Mabuwa has said.L...

FINANCIAL SERVICES

Zimpost repositions itself

Zimpost has strategically positioned itself as it embraces the fast paced technological era that almost rendered it extinct.The introduction of social media platforms and other forms of technology tha...

TELECOMS & TECHNOLOGY

Mobile financial transactions up

Zimbabwe's mobile financial transactions grew by more than 55 percent in May reflecting confidence by the banking public in using the plastic money system.According to the Reserve Bank of Zimbabwe wee...

INDUSTRIALS & ENERGY

Sugar producer price falls 9%

The producer price for sugar has dropped by nine percent to $574 per tonne from $627.67 last year mainly due to decline in value of the commodity on the international market, an official said on Monda...

LANDS & AGRICULTURE

Zim tobacco sales nears 200 million kgs

Zimbabwe's tobacco sales are inching towards the 200 million kilogramme mark although low prices have seen earnings not going significantly higher than last season.The targeted crop this season was 18...

MINING & RETAIL

BNC projects higher profits

BINDURA Nickel Corporation Limited taxed profit is expected to be higher for the second half of the financial year ended March 31 2014 due to the improvement of output at Trojan Mine.In statement, the...

TELECOMS & TECHNOLOGY

TelOne broadband via satellite to grow revenue

STATE-OWNED telecommunications company TelOne says its new broadband via satellite product will contribute at least $5 million to company's annual revenue within a year.The launch of the new product, ...

FINANCIAL SERVICES

Paypal comes to Zimbabwe

LONDON- PayPal is entering 10 new countries this week, including Zimbabwe, providing online payment alternatives for consumers via mobile phones or PCs in markets often blighted by financial fraud.Rup...

MINING & RETAIL

ACR to pay $8m for Falgold's Dalny gold mine

AIM-listed resources and development company African Consolidated Resources (ACR) is set to acquire Falgold's mothballed Dalny gold mine for $8 million.ACR is currently undertaking due diligence on th...

FINANCIAL SERVICES

$15m depositors' funds trapped

DEPOSITORS are currently struggling to retrieve their money from a $15 million black hole created after the collapse of three banks - Trust Banking Corporation, Genesis Investment Bank and Royal Bank....

FINANCIAL SERVICES

OK Zimbabwe moves R22 million from South Africa

OK ZimZIMBABWE Stock Exchange (ZSE)-listed retail giant OK Zimbabwe has handled over R22 million through its mobile money transfer service, FNB Zimbabwe Money Transfer, since the launch of its facilit...

INDUSTRIALS & ENERGY

Sino Zim plans to increase exports

GWERU-based cement manufacturer Sino Zimbabwe Cement Company (SZCC) sales have dropped by 8 percent in the first half of the year, a development attributed to low activity in the construction industry...

MINING & RETAIL

Gold production falls 8%

ZIMBABWE'S gold production fell 8 percent to 5 500 kilogrammes in the five months to May from a year earlier, according to figures obtained from the Chamber of Mines.Gold mined during the period was 5...

INDUSTRIALS & ENERGY

Powerspeed records 9% growth

A SHIFT towards retail trading paid off for Powerspeed Electrical with the company recording a nine percent growth in turnover for the six months ended March 2014.Turnover for Powerspeed Electrical fo...

TELECOMS & TECHNOLOGY

Competitions Commission goes after Econet

The Competitions and Tariffs and Commission has started gathering information, which may result in a fully fledged investigation on alleged uncompetitive behaviour by Econet Wireless.CTC has arranged ...

LANDS & AGRICULTURE

China-Africa Fund to acquire stake in Cottco

THE China-Africa Development Fund, China's largest private equity fund focusing on African investments, has moved to buy a significant shareholding in Cottco Holdings Ltd through its wholly-owned subs...

TELECOMS & TECHNOLOGY

Econet to launch a new call centre

Econet Wireless is implementing a highly advanced call centre system which will enable its contact centre operators to monitor feedback and conversations on both social network and cellular communicat...

INDUSTRIALS & ENERGY

Delta Beverages expands into drinking yoghurt

LISTED beverages giant Delta will this week launch a new yoghurt drink. The new drink consolidates Delta's continued interest in expanding its non-alcoholic portfolio and claiming an increasing share ...

MINING & RETAIL

Mwana Africa needs $27m to restart smelting plant

MWANA Africa will require at least $26,5 million to restart its smelting plant at Bindura Nickel Corporation, the Pan African mining company announced yesterday.Based on the independent study by Hatch...