BUSINESS NEWS

Mobile, internet money surpass card payments

Mobile and internet based transactions have for the first time surpassed card payments after registering a 28.3% growth in the month of May as more account holders turn to the convenience of mobile ba...

By Business reporter | Published: 19 July 2013

TELECOMS & TECHNOLOGY

Telecel in negotiations with government over shareholding

TELECEL Zimbabwe has started regularising its lopsided shareholding, a precondition for the  renewal of its expired mobile licence, after emissaries of its shareholders met Government officials t...

By Business Reporter | Published: 19 July 2013

LANDS & AGRICULTURE

Aico to offload SeedCo stake

ZIMBABWE Stock Exchange-listed agri-industrial firm Aico Africa Ltd is set to dispose of a 20 percent shareholding in Seed Co to a United Kingdom seed company, Limagrain, sources familiar with the mat...

By Business Reporter | Published: 19 July 2013

FINANCIAL SERVICES

MBCA gets $75 million from Nedbank

MBCA Bank has secured US$75 million from majority shareholder, Nedbank Group of South Africa, to provide lines of credit to Zimbabwean companies.MBCA managing director, Charity Jinya, last week told T...

By Business reporter | Published: 19 July 2013

TELECOMS & TECHNOLOGY

TelOne launches ADSL in Masvingo

Fixed telephone operator TelOne, has launched a high speed Internet connection known as Asymmetric Digital Subscriber Line (ADSL) Broadband in Masvingo. The new package is targeted at home users and o...

By Business reporter | Published: 18 July 2013

MINING & RETAIL

New Dawn marginally increase gold production

New Dawn Mining reported consolidated gold production for the quarter ended June 30, 2013 of 9,986 ounces as compared to consolidated gold production for the quarter ended June 30, 2012 of 9,536 ounce...

By Business reporter | Published: 17 July 2013

TELECOMS & TECHNOLOGY

Orascom team in Zimbabwe to renew Telecel licence

A TEAM from Orascom Telecom Company, Telecel Zimbabwe's parent company, will this week engage Ministry of Transport, Communication and Infrastructural Development officials in a bid to renew the mobi...

By Business reporter | Published: 17 July 2013

TRANSPORT & TOURISM

NRZ seeks potential investors to build railway line to DRC

THE National Railways of Zimbabwe is courting potential investors to build a railway line that will link the country to Kafue in Zambia and the Democratic Republic of Congo, the general manager, Air ...

By Business reporter | Published: 17 July 2013

INDUSTRIALS & ENERGY

PPC on track to set up new plant in Mashonaland

Pretoria Portland Cement says it is on track with a feasibility study to set up a new cement plant in Mashonaland.The company last year announced plans for a massive investment in Mashonaland for a n...

By Business reporter | Published: 17 July 2013

MINING & RETAIL

ACR seeks funding for Zimbabwe mine

AIM-listed African Consolidated Resources requires $15.7 million to fund the introduction of a four-month preproduction ore stockpile, for the Pickstone Peerless gold project in Zimbabwe as it moves ...

By Business reporter | Published: 17 July 2013

TELECOMS & TECHNOLOGY

Telecel offers customers smart phones on credit

Telecel is now offering smart phones and iPads on credit combined with any one of its Telecel Red packages.The mobile devices are available on credit on 11 month or 24 month contracts for subscribers...

By Business reporter | Published: 17 July 2013

INDUSTRIALS & ENERGY

DAF trucks head to Zimbabwe

Babcock, the importer and distributor of DAF trucks in Southern Africa, has delivered five XF truck-tractors and two rigid XF trucks to Mutare Bottling, the Manicaland Coca-Cola and Schweppes franchi...

By Staff reporter | Published: 17 July 2013

MINING & RETAIL

Essar deal safe after general elections, says Ncube

INDUSTRY and Commerce minister Welshman Ncube says government's steel production partnership with Essar Africa Holdings (Essar) will not be affected by a change in government ahead of general election...

By Staff reporter | Published: 16 July 2013

MINING & RETAIL

Australian listed firm moves into Zimbabwe gold sector

A unit of Australia Stock Exchange listed Prospect Resources has invested in Zimbabwe's gold mining sector after the Zimbabwe Investment Authority approved the acquisition of a majority shareholding o...

By Business reporter | Published: 16 July 2013

MINING & RETAIL

Zim platinum output to rise

Zimbabwe's platinum output is expected to rise this year on the back of increased production at the country's platinum mines. According to Platinum 2013, a report by Johnson Mathey PLC, Zimbabwe would...

By Business reporter | Published: 16 July 2013

TELECOMS & TECHNOLOGY

Telecel has fastest broadband

Telecel has the fastest mobile broadband speed in the country, according to the results of a survey reported by Technology Zimbabwe. Not only is Telecel's broadband service the fastest in the country,...

By Business reporter | Published: 16 July 2013

FINANCIAL SERVICES

NMB labour unrest rages on

Labour unrest continues to rock NMB Bank Limited (NMB) with non-managerial staff giving the financial institution a fresh ultimatum after a botched strike attempt.The Zimbabwe Banks and Allied Worke...

By Staff reporter | Published: 16 July 2013

BUSINESS NEWS

Kingstons assets go under the hammer

The High Court has ordered the sale of stationery retailer Kingstons Limited's commercial stands in a bid to recover $300 000 owed to ZB Bank. According to a public notice last Friday, a local proper...

By Business reporter | Published: 16 July 2013

TELECOMS & TECHNOLOGY

PowerTel secures $100 million vendor financing

Powerful Communications, a telecoms unit of State-owned power utility Zesa Holdings, could be close to securing $100 million vendor financing from China Eximbank as the firm embarks on a network exp...

By Business reporter | Published: 16 July 2013

BUSINESS NEWS

Cimas to increase medical aid rates

CIMAS Medical Aid Society is set to increase contribution rates, as the claims-loss ratio continues to widen far above international levels.Group chairman Steve Kuipa in a 2012 annual report, said th...

By Business reporter | Published: 16 July 2013

MINING & RETAIL

Pelhams posts a $1,7m loss

PELHAMS Limited posted a $1,7 million loss for the year ended March 31, 2013 compared to a profit of $1,5 million for the same period last year due to liquidity challenges.In a statement accompanying...

By Business Reporter | Published: 09 July 2013

FINANCIAL SERVICES

CBZ wins Afreximbank award

CBZ Bank has been awarded the financial institutions award (gold category 2013) in recognition of its exceptional contribution to the work of the African Export Import Bank (Afreximbank).The award, e...

By Business Reporter | Published: 09 July 2013

INDUSTRIALS & ENERGY

Dunlop Zimbabwe introduces new range of tyres

DUNLOP Zimbabwe has introduced a new brand of tyres from Netherlands amid revelations that Apollo Vredenstein which owns a majority stake in the company has purchased six new presses for the producti...

By Business reporter | Published: 08 July 2013

TRANSPORT & TOURISM

Construction of Beitbridge Hotel finished

THE National Social Security Authority (NSSA) has completed the construction of the $32 million Beitbridge Hotel and is scouting for potential clients that could take over its management.NSSA managin...

By Staff reporter | Published: 08 July 2013

TRANSPORT & TOURISM

Air Zimbabwe fares raise viability questions

Air Zimbabwe recently slashed fares for its regional and domestic routes, raising questions about the viability of the move at a time when the airline is struggling to avoid collapse. The current pri...

By Business reporter | Published: 05 July 2013

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