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....

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...

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...

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...

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 ...

CONSTRUCTION & PROPERTY

Old Mutual's houses pricey

Old Mutual's multi-million-dollar low-cost housing project in Harare's Budiriro suburb, which is ostensibly meant for low and medium income groups, might end up marginalising its target market due to...

FINANCIAL SERVICES

Turmoil in Zim banking sector scares businesses

CAPTAINS of industry have expressed concern over the challenges in the country's banking sector saying it might lead to depressed business in various sectors of the economy.The banking sector has alwa...

FINANCIAL SERVICES

Nigel Chanakira ventures into private equity

KINGDOM Bank founder and entrepreneur, Mr Nigel Chanakira, has set his sights on venturing into private equity following his decision to sell his 33 percent stake at the commercial bank.Mr Chanakira ...

TRANSPORT & TOURISM

Bulawayo spruces up tourist attractions

THE City of Kings Business Ventures has spent over $80 000 towards the upgrading of its hospitality facilities and tourist attractions in the past two years as it seeks to consolidate its market ni...

INDUSTRIALS & ENERGY

RBZ to consider new Cairns offer

THE Reserve Bank of Zimbabwe is expected to make a determination on a revised offer by prospective South African investor Vasari Global for its 67 percent stake in Cairns.The revised offer follows fa...

INDUSTRIALS & ENERGY

National blankets clears $2m debt

NATIONAL Blankets Limited has cleared about $2 million it owed to Capital Bank, the textile company's judicial manager, Phillip Ndlovu, has said.In a report presented during a creditors and members ...

INDUSTRIALS & ENERGY

Innscor faces $60m fine

ZIMBABWE Stock Exchange-listed Innscor Africa was found guilty of not following proper regulatory procedures in its acquisition of a majority stake in National Foods Limited (NatFoods) and could be l...

FINANCIAL SERVICES

ABC minority shareholders rejects ADC offer

ABC Holdings directors are part of minority shareholders that have made irrevocable undertakings that they will not accept the buyout offer by majority shareholder ADC Financial Services. ADC, a cont...

TELECOMS & TECHNOLOGY

Econet launches premium shop

ECONET Wireless Zimbabwe has launched a $500,000 premium customers' shop in Bulawayo as the firm moves a gear up in ensuring the needs of high value clients are identified and met.The outlet located a...

MINING & RETAIL

Jericho Advertising makes waves in SA

JERICHO Advertising Zimbabwe has, for the second year running, now, been the only non-South African advertising agency listed by Adfocus, the prestigious South African Advertising and Marketing Annua...

FINANCIAL SERVICES

ADC launches mandatory offer for BancABC shares

African Development Corporation (ADC) has launched a mandatory offer for all outstanding BancABC shares.ADC announced its firm intention to make a mandatory offer to all minority shareholders of its m...

TRANSPORT & TOURISM

Zimbabwe plans new tourism policy

Zimbabwe is expected to have a new tourism policy next year aimed at boosting tourists' receipts to over $5 billion in six years.The country's tourism revenue declined to $1 billion last year from $2,...

FINANCIAL SERVICES

ZB targets informal sector with $1 million loan

ZB Bank Limited (ZB) has unveiled a $1 million loan facility targeted at boosting the informal sector's capacity.The "Informal Trader" scheme comes on the back of the institution's recent introduction...

TRANSPORT & TOURISM

Zim to oversee RETOSA restructuring

A committee of made up of tourism ministers from, Zimbabwe, Zambia, South Africa, Mozambique, and Malawi were named to oversee the restructure transition of the Regional Tourism Organisation for South...

BUSINESS NEWS

Zim bank customer loyalty still low

Zimbabwe bank customer loyalty is very low; banks still need to build their trusts in customers but this is entirely based on the way the banks serve their customers.According to a survey conducted by...

MINING & RETAIL

New diamond deposits found in Zimbabwe

MUTARE-based miner DTZ-OZGEO (Pvt) Limited (DTZ-OZGEO) says it has found conglomerate deposits capable of producing 2,5 million carats of top quality diamonds in the province's Chimanimani area.The co...

CONSTRUCTION & PROPERTY

Durawall liquidated

Leading precast wall manufacturer Durawall Private Limited (Durawall) is undergoing liquidation, the company owner confirmed to the Daily News yesterday.Durawall has already laid off about 240 employe...

INDUSTRIALS & ENERGY

Powerspeed confident of the future

Powerspeed Electrical Managing Director Hilton Macklin told an analysts briefing yesterday that the Group has transformed itself into a supplier of general hardware and is already seeing benefits of t...

TRANSPORT & TOURISM

African Sun targets 20% pretax profit

African Sun Chief Executive Dr Shingi Munyeza told analysts yesterday that the Group is targeting a pre-tax return of 20% in FY14 after experiencing improved foreign arrivals this year. The compa...

TELECOMS & TECHNOLOGY

Motorola enhancing its presence in Zimbabwe

MOTOROLA Solutions, a provider of mission-critical communication solutions and services, is enhancing its presence in Zimbabwe, where it has launched new enterprise mobility products, including the la...