INDUSTRIALS & ENERGY

Ariston returns to profitability

AGRICULTURAL concern Ariston Holdings posted an after tax profit of $2,8 million in the full year to September from a loss position of $1,7 million in the prior year, on the back of cost-cutting measu...

By Staff reporter | Published: 01 January 2019

MINING & RETAIL

Miners feared dead in mine shaft collapse

Some artisanal miners are feared dead after a mine shaft they were working in in Shurugwi collapsed at the weekend. The incident occurred on Saturday afternoon at Wonderer Mine, one of the oldest mine...

By staff reporter | Published: 01 January 2019

FINANCIAL SERVICES

First Capital Bank approves unbundling of non-core assets

FIRST Capital Bank, formerly Barclays Bank Zimbabwe, has approved the unbundling of non-core assets set for listing on the Zimbabwe Stock Exchange (ZSE). In a renewal of cautionary statement to shareh...

By Staff reporter | Published: 01 January 2019

CONSTRUCTION & PROPERTY

Property developers demand US dollars

Property developers are demanding payment in US dollars for residential stands or houses in a development that might further exclude ordinary people from owning houses. The development flies in the fa...

By Staff reporter | Published: 01 January 2019

INDUSTRIALS & ENERGY

Zimplow appoints new CEO

DIVERSIFIED manufacturer, Zimplow Holdings Limited, has appointed Mr Vimbayi Nyakudya as the new group chief executive officer replacing Mr Mark Hulett. In a statement yesterday the company advised sh...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

ZimParks in bid to boost domestic tourism

THE Zimbabwe Parks and Wildlife Management Authority (Zimparks) is considering a downward review of its service charges for locals in an effort to promote domestic tourism in 2019. Zimparks public rel...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

NRZ $400m deal still on - DIDG

THE $400 million National Railways of Zimbabwe (NRZ) recapitalisation deal is still on track with six financiers having shown interest to release close to $1 billion to fund the project. In 2017, NRZ ...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

HAZ hails Govt efforts to bolster tourism

The Hospitality Association of Zimbabwe (HAZ) is satisfied with the way the Government promoted domestic and international tourism in 2018 and will leverage on that plinth to maximize tourism receipts...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

HAZ calls for increased air connectivity

The Hospitality Association of Zimbabwe (HAZ) says prospects are bright for the tourism sector if Government improves connectivity of tourist centres by air. Further, HAZ called on the Government to p...

By Staff reporter | Published: 01 January 2019

TRANSPORT & TOURISM

Zimpost revenue dips on working capital constraints

ZIMPOST says it generated $19,3 million in revenue in the 11 months to November, which was 12% below the $22 million achieved last year, as liquidity challenges and working capital constraints affecte...

By Staff reporter | Published: 31 December 2018

TRANSPORT & TOURISM

Air Zimbabwe's 'Mbuya Nehanda' grounded for maintenance

Air Zimbabwe yesterday grounded Mbuya Nehanda, a Boeing 737-200ER, for mandatory maintenance expected to last over a month. The airline has largely been operating two serviceable aircraft and whenever...

By Staff reporter | Published: 31 December 2018

INDUSTRIALS & ENERGY

Zimbabwe makes huge saving on energy

Zimbabwe's energy import bill has dropped to about $1,2 million monthly from at least $48 million as efforts to invest in local electricity generation to underpin the envisaged economic growth begin t...

By Staff reporter | Published: 30 December 2018

INDUSTRIALS & ENERGY

United Refineries gets export permit

ONE of the country's leading cooking oil and soap manufacturers, United Refineries Limited (URL) will resume cooking oil exports to Namibia soon as it forges ahead to grow its foreign currency coffers...

By Staff reporter | Published: 30 December 2018

TRANSPORT & TOURISM

Zimbabwe tourism sector grosses $1 billion

Considerable dividends have begun to accrue to Zimbabwe as Government and the private sector continue to ratchet up efforts to promote Zimbabwe as a safe destination. The tourism sector has since gros...

By Staff reporter | Published: 30 December 2018

INDUSTRIALS & ENERGY

ZPC to spend $500m on Hwange

The Zimbabwe Power Company intends to spend more than $500 million rehabilitating Hwange Power Station units 1 to 5 to guarantee reliability and extend its lifespan by between 15 to 20 years. The proj...

By Staff reporter | Published: 30 December 2018

MINING & RETAIL

Mnangagwa to commission $62m Unki processing plant

President Mnangagwa is expected to commission Shurugwi-based Anglo-American platinum miners, Unki Mine's $62 million platinum processing plant next month. Construction of the plant began in 2016 an...

By Staff reporter | Published: 29 December 2018

MINING & RETAIL

Meikles companies to go under the hammer over debt

MEIKLES stands to lose its shareholding in several of its subsidiaries after a High Court dismissed its application challenging the attachment of its shares by the sheriff over a $1,5 million debt owe...

By Staff reporter | Published: 24 December 2018

INDUSTRIALS & ENERGY

NTS after tax profit doubles

NATIONAL Tyre Services (NTS) reported an increase in profit after tax to $337 051 for the half year to September, but the company fears that fiscal and other monetary measures introduced by authoritie...

By Staff reporter | Published: 24 December 2018

INDUSTRIALS & ENERGY

SeedCo works on developing local rice seed

GIANT seed house, SeedCo says it is working on developing rice varieties suitable for local climatic conditions to reduce the country's reliance on imports. Naturally the cereal originates in tropical...

By staff reporter | Published: 24 December 2018

TELECOMS & TECHNOLOGY

Zimbabwe start-up targets foreign market

A Zimbabwean start-up, Flexi Africa, has set up an online trade platform which links local vendors to international markets.Flexi Africa chief executive Gerald Nyamadzawo told Standardbusiness that th...

By Staff reporter | Published: 23 December 2018

TELECOMS & TECHNOLOGY

Shares in Liquid are like $135m cash, says Mboweni

Econet Wireless Zimbabwe (EZW) CEO Douglas Mboweni has described the company's equity stake in Liquid Telecom Holdings, which is just under 10% as "a US$135 million forex reserve".Speaking about the f...

By Staff reporter | Published: 23 December 2018

INDUSTRIALS & ENERGY

Delta shuts soft drink plants

ZIMBABWE is headed for a dry festive season as stocks of soft drinks are expected to run out after Delta beverages shut down its plants citing inadequate foreign currency to keep them running.Delta, t...

By Staff reporter | Published: 23 December 2018

FINANCIAL SERVICES

Empower Bank to introduce agency banking

EMPOWER Bank has set sights at introducing agency bank as part of its efforts to reach out to all marginalised youths across the length and breadth of the country.Empower Bank head of marketing Mrs Ch...

By Staff reporter | Published: 23 December 2018

INDUSTRIALS & ENERGY

Indian firm to set up $40 million textile plant in Bulawayo

ONE of India's biggest and international acclaimed textile firms Shreejikrupa Spinners is considering investing over $40 million towards setting up a plant in Bulawayo soon.Industry and Commerce Deput...

By Staff reporter | Published: 23 December 2018

TELECOMS & TECHNOLOGY

Vandalism costs TelOne

DIVERSIFIED telecommunications firm, TelOne, has lost over US$3 million in the 10 months to October this year due to vandalism of network infrastructure.Of the US$3 million, US$2, 2 million was in los...

By Staff reporter | Published: 23 December 2018
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