INDUSTRIALS & ENERGY

Star Africa revenue decline 60%

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...

By Staff reporter | Published: 19 December 2013

INDUSTRIALS & ENERGY

Star Africa Corp scheme of arrangement update

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...

By Staff reporter | Published: 19 December 2013

INDUSTRIALS & ENERGY

Art Corporation release muted results

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...

By Staff reporter | Published: 19 December 2013

FINANCIAL SERVICES

Steward Bank's ZimSwitch application hits a snag

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...

By Staff reporter | Published: 19 December 2013

FINANCIAL SERVICES

Zim company to advise Bob Diamond's fund

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...

By Staff reporter | Published: 19 December 2013

MINING & RETAIL

Fidelity resumes operations

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...

By Business Reporter | Published: 19 December 2013

MINING & RETAIL

Zim mining law to decriminalise panning

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 ...

By Mining weekly | Published: 18 December 2013

INDUSTRIALS & ENERGY

Zesa debt write-off has not affected operations

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...

By New Ziana | Published: 18 December 2013

FINANCIAL SERVICES

Zim depositors may face a gloomy festive season

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...

By BH24-BusinessDaylive | Published: 18 December 2013

INDUSTRIALS & ENERGY

Zim to establish an additional steel plant

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...

By Staff reporter | Published: 18 December 2013

FINANCIAL SERVICES

Zim life insurance companies wrote $183m

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...

By Staff reporter | Published: 18 December 2013

INDUSTRIALS & ENERGY

SABMiller CEO dies

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...

By Staff reporter | Published: 18 December 2013

MINING & RETAIL

OK opens a Bon Marche branch in Bulawayo

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...

By Staff reporter | Published: 18 December 2013

INDUSTRIALS & ENERGY

CBZ, Sakunda's $120m deal

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...

By Staff reporter | Published: 18 December 2013

MINING & RETAIL

ZimAlloys placed under judicial management

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...

By Staff reporter | Published: 18 December 2013

INDUSTRIALS & ENERGY

Gulliver in turnaround drive

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...

By Staff reporter | Published: 18 December 2013

INDUSTRIALS & ENERGY

Schweppes volumes decline

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...

By Staff reporter | Published: 18 December 2013

FINANCIAL SERVICES

RBZ stalls ZB merger

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...

By Staff reporter | Published: 17 December 2013

LANDS & AGRICULTURE

Over 60 000 ha of tobacco planted

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...

By Staff reporter | Published: 17 December 2013

MINING & RETAIL

Zim's Marange diamonds draw 'much' interest

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....

By Bloomberg | Published: 17 December 2013

INDUSTRIALS & ENERGY

Choppies confirms Zim entry

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....

By Staff reporter | Published: 17 December 2013

FINANCIAL SERVICES

Chaos hits Zimbabwe banks

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...

By NewsDay | Published: 17 December 2013

INDUSTRIALS & ENERGY

Zimglass seeks funds to resume operations

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...

By Business Reporter | Published: 17 December 2013

IDBZ secures $10m loan

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...

By Business Reporter | Published: 17 December 2013

MINING & RETAIL

Zim licenses 'several' gem cutting companies

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 ...

By Mining weekly | Published: 16 December 2013

Latest News

Latest Published Reports

Latest jobs