INDUSTRIALS & ENERGY

Innscor misses its 15% revenue growth target for FY13

Innscor Africa Limited missed its 15% revenue growth for the year ended 30 June 2013 and will be operating under an aggressive budget in FY14 with an aim of keeping the revenue growing as well as impr...

By Business reporter | Published: 05 September 2013

LANDS & AGRICULTURE

Zimplow faces debt collection challenges

Zimplow Holdings Limited Group Chief Executive Officer, Zondi Kumwenda, told an analyst briefing yesterday that Zimplow is experiencing hardships in debt collection and the bulk of their debtors are s...

By Business reporter | Published: 05 September 2013

FINANCIAL SERVICES

Cash shortage looms, banks planning to limit withdrawals

Cash shortages are said to be worsening in Harare, with reports that banks are now planning a series of measures to limit withdrawals.An investigation by SW Radio Africa indicated that some companies...

By SW Radio Africa News | Published: 05 September 2013

FINANCIAL SERVICES

Agribank secures $98.6 million loan

THE Agricultural Development Bank of Zimbabwe has secured a $98,6 million loan from the Brazillian government to boost the agricultural sector as the country continues to reel under a high food impor...

By Staff reporter | Published: 05 September 2013

INDUSTRIALS & ENERGY

Twalumba signs solar power deal

Eastway (Pvt) Limited, a subsidiary of Twalumba Holdings, has signed a $1.6 billion deal with Thompson Cole Consortium, a UK-based firm, for the construction of solar power generation plants in the co...

By Business reporter | Published: 05 September 2013

LANDS & AGRICULTURE

Zim tobacco deliveries fall short of target

The Tobacco Industry and Marketing Board have revised the tobacco target from 170 million to 166,5 million.This follows the decline in tobacco deliveries at most contract floors.TIMB chief executive D...

By Business reporter | Published: 04 September 2013

LANDS & AGRICULTURE

Zimplow bullish about Government

ZIMPLOW Limited is confident the new Government will adopt economic policies that favour agriculture, mining and infrastructure in what should positively impact its business.Group chief executive Mr Z...

By Business reporter | Published: 04 September 2013

FINANCIAL SERVICES

FBC shelves merger plans

FBCH has put on hold plans to merge its banking and mortgage lending units until the central bank clarifies the bank's recapitalisation deadlines. The group intends to combine FBC Bank and FBC Buildin...

By Staff reporter | Published: 04 September 2013

MINING & RETAIL

Small-scale miners to get loans from Allied Bank

ZIMBABWE Artisanal and Small-Scale Miners Council (ZASMC) is finalising a deal with the Allied Bank on a loan scheme facility to fund operations of small-scale miners in the country.ZASMC president We...

By Staff reporter | Published: 04 September 2013

FINANCIAL SERVICES

SA banks still profitable in Zimbabwe

Stanbic Bank, the Zimbabwe-based unit of Standard Bank Group, has remained profitable despite the challenging economic and banking environment it operates from.In its half-year to June 30 2013, Stanbi...

By Staff reporter | Published: 04 September 2013

MINING & RETAIL

Wellesley-Wood to chair Mwana Africa

PAN African resources group Mwana Africa has appointed Mr Mark Wellesley-Wood as non executive chairman.He takes over from Mr Oliver Baring whose resignation was announced on Monday.Mwana said Mr Well...

By Staff reporter | Published: 04 September 2013

INDUSTRIALS & ENERGY

Zesa warns of more load shedding

ZESA Holdings has warned Zimbabweans to brace for increased load shedding outside the published schedule as the Hydro Cabora Bassa (HCB) is undertaking maintenance on its plant.In a statement yesterda...

By Staff reporter | Published: 04 September 2013

Zimpapers new printing press installation at advanced stage

Zimpapers chief executive Justin Mutasa said the installation of the $2.2 million fully automated Orient X-Cel printing press was at an advanced stage and would be ready for trial runs in two weeks. ...

By Staff reporter | Published: 04 September 2013

INDUSTRIALS & ENERGY

Chinese firm plans $2.1 billion power plant for Zimbabwe

CHINA Africa Sunlight Energy said it plans to invest as much as $2.1 billion in Zimbabwe developing coal mines and building a 2,100-megawatt plant powered by the fuel to help ease electricity shortage...

By Bloomberg News | Published: 03 September 2013

FINANCIAL SERVICES

Metbank profit up 27%

METBANK'S after tax profit for the half-year period ended June 30, 2013 went up by about 27 percent to $1,9 million compared to the same period last year's figure of $1,5 million largely owing to a de...

By Business Reporter | Published: 03 September 2013

FINANCIAL SERVICES

Stanchart profits down 10%

Standard Chartered Bank Zimbabwe Limited (StanChart)'s profit after tax slumped 10 percent to $7,2 million in the half year to June 2013, weighed down by a tough operating environment.The financial i...

By Staff reporter | Published: 03 September 2013

INDUSTRIALS & ENERGY

Zera procures fuel quality testing machine

The Zimbabwe Energy Regulatory Authority has spent $400 000 on a new fuel quality testing mobile laboratory to protect consumers from substandard products after the introduction of mandatory blending ...

By Staff reporter | Published: 03 September 2013

TELECOMS & TECHNOLOGY

NetOne slashes mobile broadband dongle price

NetOne, Zimbabwe's third largest mobile operator, last week announced via adverts in the press the reduction of its 3G broadband dongle from the previous $50 to $35. The announcement comes a whole 6 m...

By Staff reporter | Published: 02 September 2013

FINANCIAL SERVICES

SA based group to set up investment bank in Zimbabwe

South African based company JM Busha Investments plans to set up an investment bank in the country.Group managing director Mr Joseph Makamba Busha told New Ziana that the company would be engaging rel...

By Business reporter | Published: 02 September 2013

FINANCIAL SERVICES

Old Mutual profits jumps 82%

OLD MUTUAL Investment Group Zimbabwe has recorded an 82% increase in after-tax profit to $1,4 million for the six months ended June 30 2013 compared to $763 000 during the comparative period last year...

By Staff reporter | Published: 02 September 2013

INDUSTRIALS & ENERGY

AICO Africa issues a profit warning

Shareholders are advised that the level of production in cotton this year was much lower than prior years consequently the company will post a loss for the year to 31 March 2014 that is substantially...

By Staff reporter | Published: 02 September 2013

FINANCIAL SERVICES

Dr Nkosana Moyo appointed director at Old Mutual Plc

Old Mutual plc has announced that Dr Nkosana Moyo has agreed to join its Board as an independent non-executive director with effect from 1 September 2013. He will also become a member of the Board Ri...

By Staff reporter | Published: 02 September 2013

LANDS & AGRICULTURE

BAT named top southern African employer

British American Tobacco has been certified as a top employer in southern Africa by the Top Employers Institute. Based on independent research, the Top Employers Institute said British American Tobacc...

By Staff reporter | Published: 02 September 2013

MINING & RETAIL

New Dawn shuts down Dalny mine in Zimbabwe

New Dawn Mining Corp announced that Falcon Gold Zimbabwe Limited, has shut down its 100% owned Dalny Mine located in Kadoma effective as of August 30, 2013.The Dalny Mine produced 1,949 ounces of gol...

By Business reporter | Published: 30 August 2013

TRANSPORT & TOURISM

Hospitality Association hails UNWTO indaba for boosting business

The Hospitality Association of Zimbabwe (HAZ) today said business was brisk during the United Nations World Tourism Organisation (UNWTO) general assembly with hotels recording above 90 percent occupan...

By Staff reporter | Published: 30 August 2013

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