FINANCIAL SERVICES

Financial sector reforms critical to attract investment

The transformation of the financial services sector is key to attracting investment in the country, a Government official said.Finance and Economic Planning Minister Patrick Chinamasa said reforming t...

By Staff reporter | Published: 27 November 2013

FINANCIAL SERVICES

FML launches mobile life insurance product

First Mutual Limited has launched a low cost cross network mobile life insurance product called e-FML which is an enhancement of the Funeral Cash Plan. FML Assurance company MD Ruth Ncube said e-...

By Staff reporter | Published: 27 November 2013

INDUSTRIALS & ENERGY

Meikles moves ahead on indigenisation

Meikles Limited which secured approval of its provisional indigenisation plan by government a few months ago, today also got support from its shareholders to undertake transactions necessary for the p...

By Staff reporter | Published: 27 November 2013

MINING & RETAIL

Adequate power key for Zim platinum refinery

Zimbabwe must have adequate power supply in order to fully realise the benefits of a platinum refinery, the Platinum Producers Association of Zimbabwe (PPAZ) says.This comes on the back of escalated e...

By Staff reporter | Published: 27 November 2013

TELECOMS & TECHNOLOGY

Valley Technologies placed under final liquidation

EMBATTLED telecommunications company Valley Technologies was placed under final liquidation by the High Court, but the company's ownership remains unclear after both Nigel Chanakira and Zachary Wazara...

By Staff reporter | Published: 27 November 2013

INDUSTRIALS & ENERGY

NamPower to fund Byo, Hre power stations

NAMIBIA'S power utility, NamPower, has expressed an interest in funding the repowering of Bulawayo and Harare thermal power stations, a development expected to improve electricity generation in the co...

By Staff reporter | Published: 27 November 2013

INDUSTRIALS & ENERGY

Zimphos seeks $15m for facelift

Mining and industrial chemicals manufacturing firm Zimbabwe Phosphate Industries is seeking to raise at least $15 million for the refurbishment of its Msasa plant in Harare in order to increase capaci...

By Business Reporter | Published: 27 November 2013

INDUSTRIALS & ENERGY

Zeco ranked worst governed firm

ZECO Holdings has been ranked the worst governed company on the Zimbabwe Stock Exchange at the Institute of Chartered Secretaries and Administrators of Zimbabwe awards which were held recently.  ...

By Business Reporter | Published: 27 November 2013

MINING & RETAIL

Meikles's bid to swoop for Freda flops

MEIKLES Limited's bid to swoop on Mwana Africa Plc's gold mining cash cow Freda Rebecca hit a brick wall after one of the group's major shareholders who was  approached with an unsolicited offer ...

By Business Reporter | Published: 27 November 2013

INDUSTRIALS & ENERGY

Import duty on ZESA equipment suspended

Power utility, ZESA Holdings has received a shot in the arm after government gave it a one year import duty suspension on equipment.According to Statutory Instrument 157 of 2013, ZESA Holdings was aw...

By Staff reporter | Published: 26 November 2013

INDUSTRIALS & ENERGY

Dendairy production up 150%

Dairy products manufacturer, Dendairy has increased its production capacity by 150 percent following a $7 million investment in a new processing plant in Kwekwe.The dairy company has since increased i...

By Staff reporter | Published: 26 November 2013

TELECOMS & TECHNOLOGY

Econet joins pan African wind power initiative

Econet Wireless has joined an initiative led by Danish wind energy group Vestas to build small wind power generators across Africa. The programme, called Wind For Prosperity, aims to provide power to ...

By Staff reporter | Published: 26 November 2013

INDUSTRIALS & ENERGY

Innscor disclosures raise a stink

SOUTH Africa-based minority shareholder activist Theo Botha has taken Zimbabwe Stock Exchange-listed Innscor Africa Limited management to task over the company's financial disclosures after it emerg...

By Staff reporter | Published: 26 November 2013

MINING & RETAIL

Caledonia to declare quarterly dividend

Canada-based mining firm Caledonia Mining Corporation will now be declaring dividend on a quarterly basis, the company said yesterday. Caledonia's primary asset is Gwanda-based gold miner, Blanket Mi...

By New Ziana. | Published: 26 November 2013

INDUSTRIALS & ENERGY

Aico Africa recalls subsidiary directors

THE unbundling of Zimbabwe Stock Exchange listed Aico Africa has begun with the group withdrawing directors it had seconded to the boards of its subsidiary companies. Aico group has a 100 percent sta...

By Business Reporter | Published: 26 November 2013

FINANCIAL SERVICES

Trust Bank's recapitalisation hangs in the balance

THE recapitalisation of Trust Bank is hanging in the balance amid revelations that its potential investor, Mining Oil and Gas Service, a South African-based firm will only inject money into the bank ...

By Business Reporter | Published: 26 November 2013

INDUSTRIALS & ENERGY

Meikles seeks approval for empowerment deal

MEIKLES Limited shareholders will tomorrow convene an extraordinary general meeting to either vote for or against the allocation of 10% of the company's shares to employees, as the group partially c...

By Staff reporter | Published: 26 November 2013

MINING & RETAIL

Zim diamond polishers cry foul

LOCALLY-OWNED diamond polishing companies have raised concerns over the quality of gems delivered by local diamond companies for value addition, blighting hopes of increasing government revenue throug...

By Business Reporter | Published: 26 November 2013

MINING & RETAIL

Gold leakages hit Zimbabwe

Zimbabwean authorities should seriously engage their South African counterparts to plug gold leakages estimated to be between 100 kg and 300 kg, legislator Paradzai Chakona told Parliament.This comes...

By Staff Reporter | Published: 26 November 2013

MINING & RETAIL

Afrochine mulls mega power plant for Selous smelter

Chinese company Afrochine, which recently constructed a chrome smelting plant in Selous, is planning to build a multi-million dollar electricity generation plant in the area to ensure continued power ...

By Staff reporter | Published: 25 November 2013

TELECOMS & TECHNOLOGY

EcoCash to start lending money

EcoCashSave account holders will soon be able to also borrow money, just like ordinary bank account holders. This is part of what will be called EcoCashCredit that Econet is planning to roll out earl...

By Staff reporter | Published: 25 November 2013

CONSTRUCTION & PROPERTY

Contractors bemoan lack of credit lines

Local contractors say lack of lines of credit has disadvantaged them from competing with their regional counterparts and this has impacted negatively on the growth of the sector.Zimbabwe's liquidity c...

By Staff reporter | Published: 25 November 2013

INDUSTRIALS & ENERGY

Innscor resolutions passed unanimously

At the company's 17th AGM held on Friday 22 November 2013, all resolutions tabled were passed unanimously.In a trading update, management reported that turnover for Q1 2014 increased by 5% y-o-y. Marg...

By Staff reporter | Published: 25 November 2013

TELECOMS & TECHNOLOGY

ZTE to flood smartphones on Zim market

ZTE Corporation, the Chinese-headquartered global provider of telecommunications equipment and network, is planning to supply 80 percent of Zimbabwe's smartphone market with affordable handsets.The co...

By Business Reporter | Published: 25 November 2013

MINING & RETAIL

Zimbabwe diamonds revenues decline

The Zimbabwean government has announced it will summon mining companies in the controversial Chiadzwa diamond fields to ask why their revenues are so low.A top government official says diamond product...

By Staff reporter | Published: 25 November 2013

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