FINANCIAL SERVICES

Old Mutual to sponsor HIFA 2014

Old Mutual, will for the second successive year, be a major sponsor of the Harare International Festival of Arts (HIFA).The sponsorship will see the final and most popular day of HIFA named as Old Mut...

By Staff reporter | Published: 26 February 2014

LANDS & AGRICULTURE

Govt forecast 1.8 million tonnes of maize

Government has set a preliminary maize production target of between 1,6 million metric tonnes to 1,8 million metric tonnes following a good rainfall season.The permanent secretary in the Ministry of L...

By Staff reporter | Published: 26 February 2014

INDUSTRIALS & ENERGY

Anchor Holdings seeks $4.5 million

Zimbabwe's sole yeast manufacture, Anchor Holdings limited is seeking $4.5 million from the government to retool its manufacturing plant in Gweru. The absence of the latest technology at the plant and...

By Staff reporter | Published: 26 February 2014

FINANCIAL SERVICES

Govt to set up SPV for RBZ debt

Government intends to create a special purpose vehicle (SPV) that will assume the Reserve Bank of Zimbabwe’s debt estimated at $1.35 billion outside the central bank's books. Finance and Economic De...

By Staff reporter | Published: 26 February 2014

FINANCIAL SERVICES

RFHL moves to stop bank liquidation

Renaissance Financial Holdings has implored the Reserve Bank of Zimbabwe to stop the National Social Security Authority from liquidating Capital Bank Limited saying the State-owned institution is not ...

By Staff reporter | Published: 26 February 2014

MINING & RETAIL

Mwana Africa sacks chairman

Mwana Africa Plc, the parent company of Bindura Nickel Corporation and Freda Rebecca, has sacked non-executive board chairperson Mark Wellesley-Wood amid suspicion he was an agent for a hostile takeov...

By Staff reporter | Published: 26 February 2014

CONSTRUCTION & PROPERTY

Demand for Turnall tiles falls

Turnall Holdings Limited says production capacity for tiles fell by 28% due to a fall in domestic demand. As a result the company is planning to explore new markets in the region. Last year...

By Staff reporter | Published: 26 February 2014

MINING & RETAIL

Zim loses billions to SA gold buyers

Zimbabwe is losing billions of dollars worth of gold to South African buyers who are offering local small scale miners high prices for the yellow metal, Parliament heard on Monday. Officials fro...

By Staff reporter | Published: 26 February 2014

INDUSTRIALS & ENERGY

Blue Ribbon needs $40 million rescue capital

Blue Ribbon Industries requires as much as $40 million to bring the grain milling and processing company back to viability, judicial manager Reggie Saruchera has said. Saruchera said in an inter...

By Staff reporter | Published: 26 February 2014

LANDS & AGRICULTURE

BAT sales volumes down 17%

BAT Zimbabwe recorded a 17% volume decline across its local brand portfolio for the year ended 31 December 2013 and management is expecting trading conditions to remain challenging in the face of a s...

By Staff reporter | Published: 26 February 2014

LANDS & AGRICULTURE

Zim auctions $1.1 million tobacco

Zimbabwe has auctioned tobacco worth $1.1 million since the opening of the 2014 selling season last Wednesday. Around 517 762kg of the golden leaf went under the hammer at three licensed auction...

By Staff reporter | Published: 26 February 2014

TRANSPORT & TOURISM

NRZ revenue drops

The National Railways of Zimbabwe's revenue in the 8 months to August 2013 dropped by 11% to $54.74 million from $61.96 million in the comparable period the prior year as the state-owned institution ...

By Staff reporter | Published: 26 February 2014

INDUSTRIALS & ENERGY

PG raises funds for recapitalisation

PG Industries is looking to bring on board strategic partners to enhance the group's capital position and complement the initiatives being made to restructure creditor balances.In a circular to share...

By Staff reporter | Published: 25 February 2014

BUSINESS NEWS

BAZ says BOStv abused licence

The Broadcasting Authority of Zimbabwe has said BOStv was operating illegally as a free-to-air TV channel, and must be incorporated into the MYTV bouquet on a subscription basis as authorised by thei...

By Staff reporter | Published: 25 February 2014

MINING & RETAIL

Chamber of mines negotiate on wages

Wage negotiations between the Chamber of Mines and the Associated Mineworkers Union of Zimbabwe will today resume amid indications both parties are determined to reach an agreement to finally break th...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Edgars eye export market

Giant clothing manufacturer and retailer, Edgars Group is  set to resume garments and clothing exports to the European Union among other international markets.In an interview, Edgars Carousel man...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Zera licences 307 fuel dealers

The Zimbabwe Energy Regulatory Authority has revealed that it issued 307 licences to fuel importers, wholesalers, producers, blenders and retailers in 2012 in response to the country's increasing dema...

By Staff reporter | Published: 21 February 2014

LANDS & AGRICULTURE

Zimbabwe sugar production to rise 13.5% by 2017

The year 2014 is promising to be a good year for sugar production in Zimbabwe. According to Business Monitor International forecast regarding the sugar sector of the country, sugar production is predi...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Local firm evaluates pyrites deposits in Mazowe

GAT Investments, a local company with interest in mining is evaluating the potential of extracting new pyrites deposits in Mazowe, about 40 kilometres north of Harare. Pyrites are mostly used in the p...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Zimbabwe says no compromise on platinum miners

Government will not compromise on its position requiring platinum miners to set up a local refinery and wants mining firms to take hard short-term decisions for future benefit. Mines and Mining Develo...

By Staff reporter | Published: 21 February 2014

BUSINESS NEWS

AfrAsia $5m rights issue fully subscribed

AfrAsia Zimbabwe Holdings says its $5 million rights issue was fully subscribed as the financial group continues with fundraising efforts to fund growth and meet regulatory requirements. This will hel...

By Staff reporter | Published: 21 February 2014

MINING & RETAIL

Zimasco in $250 million deal

Zimasco has partnered Chinese firm Jilin Houyuan in a deal that will culminate in the construction of a sintering plant at a cost of about $250 million in Kwekwe. The ferrochrome producer also conclud...

By Staff reporter | Published: 21 February 2014

BUSINESS NEWS

CBZ appointments new of Board Chairman

CBZ Holdings Limited announces the appointment of Mr. Richard Victor Wilde as Chairman of the board with effect from 20 February 2014. Mr. Wilde is a former Deputy Governor of the Reserve Bank of Zimb...

By Staff reporter | Published: 21 February 2014

INDUSTRIALS & ENERGY

Barter deal puts Cafca in profitable position

Cafca  MD Rob Webster told the AGM that the copper barter recycling deal has put the firm in a profitable situation as they expect the profit to go up 30% year-on-year."The barter deal started la...

By Staff reporter | Published: 21 February 2014

TELECOMS & TECHNOLOGY

Telecel takes Tomana to task

Telecel Zimbabwe (Private) Limited has said the attempt by the Prosecutor-General, Johannes Tomana, to appeal against the Supreme Court ruling forcing him to issue a certificate for the private prosec...

By Staff reporter | Published: 21 February 2014

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