Star Africa released a depressed set of results underlined by a 60% decline in the top line from $17.4m to $6.9m. This was mainly attributed to a 44% decrease in sugar production at Gold Star Sugars H...
The Scheme of Arrangement between Star Africa Corporation Limited and its lenders and creditors which was sanctioned by the High Court on 7 August 2013 and registered with the register of companies on...
ART Corporation reported a muted operating performance characterised by increased competition and decline in sales volumes for financial year ended 2013. Although capacity utilisation increased by one...
THE ugly fight between banks and Econet Zimbabwe, the country's largest telecoms company, has sucked in its subsidiary Steward Bank, amid revelations other banks have refused the bank entry onto the p...
A Zimbabwean private equity firm Brainworks Capital has been appointed as one of the key financial advisors to the $325 million Atlas Mara investment vehicle.Atlas Mara is a banking investment cash sh...
State-owned gold refinery, Fidelity Printers and Refinery, resumed operations on Tuesday this week after a major facelift of its Harare plant, senior officials said yesterday.The company, a subsidiar...
The Zimbabwe government says the amended Mines and Minerals Act, due take effect in February, will decriminalise gold panning and provide for the State to seize unexploited mining claims from foreign ...
The debt that power utility, Zesa holdings wrote off last month on domestic consumers and farming communities has not had a significant impact on its operations, a senior government official said on T...
Following the chaos that occurred at Allied Bank recently this week speculators are of the view that struggling banks depositors may face a gloomy festive season as some local banks reel under a bitin...
One of the resolutions from the 2013 Zanu-PF Annual National People's Conference on promoting mineral beneficiation and value addition is to priorities the operationalisation of New ZimSteel and engag...
ZIMBABWE'S life insurance companies wrote $183 million in net premiums in the half quarter to September 30, 2013 according to figures from a report by the Insurance and Pensions Commission (IPEC).This...
SABMiller announced on Wednesday that chairperson Graham Mackay, who has been with the company for 35 years, passed on.Mackay died peacefully on Wednesday morning with his family at his side, the grou...
OK Zimbabwe Limited announces the opening of its Bon Marche branch in Bulawayo's Parklands suburb on 18 December 2013. The Bon Marche branch will be operating from Shop 1, Megawatt Shopping Centre, Pa...
CBZ Bank Limited (CBZ) has secured a $120 million credit facility from a top European bank, businessdaily can reveal.The money, which is expected to go a long way in easing the current liquidity crunc...
Zimbabwe Alloys Limited, (ZimAlloys) has been placed under judicial management and may face liquidation after the ferrochrome producer's debt rose to alarming levels.The latest Government Gazette reve...
GULLIVER Consolidated Limited is now firmly poised to bring in new equity investors or float a rights issue to raise funding required to clear liabilities to creditors following confirmation of Mr Reg...
BEVERAGE maker Schweppes Zimbabwe Limited's year-end voulumes declined compared to the prior year due to softening demand on the back of a weakening economy, a company official has said.In an intervie...
ZB Financial Holdings (ZBFH) says a delay in Reserve Bank of Zimbabwe (RBZ) approval is stalling plans to merge its banking arm and mortgage lender, ZB Building Society (ZBBS).The group intends to com...
At least 63 765 hectares have been put under tobacco so far for the 2013/2014 cropping season in the nine growing provinces, up from 40 316 at the same time last year. Mashonaland West province has th...
The first auction of diamonds originating from Zimbabwe's eastern Marange fields following the removal of European Union sanctions has attracted "much interest," the Antwerp World Diamond Centre said....
ALL retail shops formerly owned by local business mogul Raji Modi have been rebranded to Choppies following the takeover of the business by Botswana's biggest retail firm Choppies Enterprises Limited....
ANGRY Allied Bank depositors yesterday turned riotous smashing door glasses and assaulting a bank manager after failing to access their cash at one of the bank's Harare branches, a sign of the deepen...
Zimbabwe Glass Industries has applied for an undisclosed amount of money under the Distressed and Marginalised Areas Fund to raise fresh capital in a bid to resume operations, managing director Mr Gil...
THE Infrastructure Development Bank of Zimbabwe has secured a $10 million line of credit from the Industrial Development Corporation of South Africa to support projects in the tourism sector. The loan...
Zimbabwe's Ministry of Mines and Mining Development says it has licensed several local and international diamond cutting and polishing firms to set up shop in the country, amid indications it intends ...