TRANSPORT & TOURISM

Zimbabwe seeks DBSA $450m loan for NRZ

GOVERNMENT says it has engaged the Development Bank of Southern Africa (DBSA) to provide $450 million for the rehabilitation of railways and procurement of rolling stock as a way of addressing some of...

By Staff reporter | Published: 17 March 2014

MINING & RETAIL

Small-scale miners seek support

SMALL-scale miners have called on the government to come up with policies that promote their activities to boost mineral production in the country.In an interview, Zimbabwe Artisanal and Small-scale ...

By Staff reporter | Published: 17 March 2014

INDUSTRIALS & ENERGY

PG in yet another capital raise

PG INDUSTRIES shareholders last Friday approved yet another capital raise coupled with a corporate restructure which is expected to turnaround the fortunes of the firms which has over the years seen a...

By Staff reporter | Published: 17 March 2014

FINANCIAL SERVICES

Private sector credit declines

Total credit to the private sector declined 2.3% to $3.56 billion in January from $3.65 billion in December with 84% of that amount going towards loans and advances. According to the Reserve Bank of Z...

By Staff reporter | Published: 17 March 2014

INDUSTRIALS & ENERGY

'RBZ collapsed CAPS operations'

CAPS Holdings executive chairman Mr Fred Mutanda has made sensational claims that the Reserve Bank of Zimbabwe collapsed the operations of CAPS Pharmaceuticals after ordering delivery of "all stocks ...

By Staff reporter | Published: 17 March 2014

TELECOMS & TECHNOLOGY

Econet forcing suppliers to open bank accounts with Steward Bank

SUPPLIERS of telecommunications concern Econet Wireless are up in arms over a recent directive compelling them to open accounts with the mobile phone operator's bank, Steward Bank, businessdigest repo...

By businessdigest | Published: 14 March 2014

MINING & RETAIL

Govt fumes over diamond revenue

Government would rather halt all diamond mining in Marange than let firms operating there continue fleecing the country of millions of United States dollars through understating the real value of the ...

By Staff reporter | Published: 14 March 2014

INDUSTRIALS & ENERGY

QV contests judicial management order

QV Pharmacies has appealed to the High Court to overturn an order placing it under provisional judicial management arguing the order was "clandestinely" obtained.  Mr Winsley Militala of Petwin E...

By Martin Kadzere | Published: 14 March 2014

LANDS & AGRICULTURE

Cotton price negotiations begin

Ginners and farmer organisations have opened negotiations for viable cotton prices to lure back farmers who had abandoned the crop.Most cotton farmers abandoned the crop because of poor prices and are...

By Staff reporter | Published: 13 March 2014

MINING & RETAIL

Chinese company wants mineral guarantee to set up stainless steel plant

Tsingshan Iron and Steel Group of China is planning to establish an integrated stainless steel manufacturing plant in Zimbabwe, which will incentivise the company's involvement in infrastructure refur...

By Staff reporter | Published: 13 March 2014

FINANCIAL SERVICES

Ecobank Zimbabwe records profit

EcoBank Zimbabwe Limited has recorded a $2,4 million profit before tax for the year ended 31 December 2013, a 220 percent rise from last year`s figure of $0.75million.The group's financial statement f...

By Staff reporter | Published: 13 March 2014

INDUSTRIALS & ENERGY

Chemco shareholders approve takeover

Chemco minority shareholders approved the proposal for TSL to take full control of the agro chemicals business during an EGM held this morning.The shareholders passed all the resolutions namely; incre...

By Staff reporter | Published: 13 March 2014

CONSTRUCTION & PROPERTY

Southview Park to drive Fidelity's profitability

Fidelity Life will focus on the development of Southview Park in FY14 with proceeds from stand sales expected to drive the group's profitability to an estimated $30 million, MD Simon Chapereka told an...

By Staff reporter | Published: 13 March 2014

MINING & RETAIL

SA strike expected to push PGM prices

The protracted industrial action by mine workers in South Africa, the world's largest producer of platinum, could result in an upturn of platinum prices, the local mines body has said.Chamber of Mines...

By Staff reporter | Published: 13 March 2014

MINING & RETAIL

Zimbabwe gold earnings slump 20%

Zimbabwe's total gold earnings slumped 20 percent to $626 million last year from $783 million realised in 2012, latest Chamber of Mines (CoM) figures reveal.This comes as escalating production costs, ...

By Staff reporter | Published: 13 March 2014

TELECOMS & TECHNOLOGY

NetOne gets 4-year lifeline

THE Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has revealed that NetOne's operating licence is not due for renewal this year, insisting the company still has three years o...

By Staff reporter | Published: 13 March 2014

CONSTRUCTION & PROPERTY

Fidelity sees $30m return on project

Fidelity Life Assurance has anchored its growth on Southview Park, a property development project, confident it will deliver a $30 million windfall if all the 5 974 stands are sold.  Southview Pa...

By Staff reporter | Published: 13 March 2014

TRANSPORT & TOURISM

Future of NSSA's Beitbridge hotel hangs in the balance

The National Social Security Authority is racing against time in its bid to regularise the Rainbow Tourism Group Beitbridge hotel by next Friday, a deadline by which its temporary permit expires. The ...

By Staff reporter | Published: 13 March 2014

TELECOMS & TECHNOLOGY

Govt to utilise converged ICT experts to finalise policy

The Government will utilise the convergence of information communication technology experts in the country to finalise the draft ICT policy, a Cabinet Minister said on Tuesday.About 30 companies are e...

By New Ziana | Published: 12 March 2014

FINANCIAL SERVICES

Surface partners CBZ on contract soyabean farming

Cooking oil manufacturer Surface Investments has devised a new mechanism for funding contract farming that prevents side marketing, an official said on Tuesday.Surface chairman Narottam Somani told Ne...

By New Ziana | Published: 12 March 2014

MINING & RETAIL

Rio Tinto announces board changes

Rio Tinto Plc, which has a 78 percent interest in the Murowa Diamond Mine near Zvishavane, has announced changes to its board.Anne Lauvergeon and Simon Thompson will join the boards of Rio Tinto plc a...

By BH24/Mining.com | Published: 12 March 2014

LANDS & AGRICULTURE

Zim tobacco prices decline 16% from 2013

Tobacco prices in Zimbabwe, which relies on the crop as its biggest agricultural export earner, fell 16 percent from a year earlier, according to the Tobacco Industry and Marketing Board.Leaf prices ...

By Bloomberg | Published: 12 March 2014

CONSTRUCTION & PROPERTY

Zimbabwe property sector struggling

Zimbabwe property owners have decided to convert office space in cities to retail outlets in a bid to stay afloat, according to Africa Report.The report says that the property owners have been realisi...

By Staff reporter | Published: 12 March 2014

INDUSTRIALS & ENERGY

TSL management confident of period ahead

TSL Limited group Chief Executive Washington Matsaira told the AGM this afternoon that they are confident that they will continue to deliver a steady growth as they keep working to mitigate the impac...

By Staff reporter | Published: 12 March 2014

FINANCIAL SERVICES

BAZ to act on non-performing loans

THE Bankers' Association of Zimbabwe (BAZ) said there is need to set up a Special Purpose Vehicle (SPV) to address the issue of increased non-performing loans (NPLs).Addressing the Parliamentary Portf...

By Staff reporter | Published: 12 March 2014

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