INDUSTRIALS & ENERGY

Delta's investment pays off

Delta Beverages investment of over $6.5 million in its Chitungwiza-based Chibuku Super plant has paid off, the units general manager Mark Mudimbu has said. "The investment has paid off because of th...

By Business reporter | Published: 10 July 2013

FINANCIAL SERVICES

Strike looms at NMB Bank

NMB Bank says an impending industrial action by its non-managerial workers is unprocedural. "The intended job action is illegal and unnecessary. I don't believe our staff will embark on the collecti...

By Business reporter | Published: 10 July 2013

CONSTRUCTION & PROPERTY

Sino-Zim facelift to boost cement output

Cement manufacturer Sino-Zimbabwe Cement Company has commenced the first phase of upgrading and refurbishing its Gweru factory. According to the company, this phase, which is being undertaken on the ...

By Business reporter | Published: 05 July 2013

MINING & RETAIL

Falcon Gold asked to release unused gold mining claims

MINING lobby group, the Zimbabwe Indigenous Miners Empowerment Association, has requested Government to order Falcon Gold Zimbabwe to release its unused gold mining claims to them.In a letter to Mine...

By Business reporter | Published: 05 July 2013

INDUSTRIALS & ENERGY

Bata Shoe Company adjusts working calendar

GIANT shoe company, Bata, has adjusted its working calendar by splitting the annual shutdown into two phases as a way of mitigating the challenges posed by the prevailing economic environment. In an ...

By Staff reporter | Published: 05 July 2013

FINANCIAL SERVICES

Barclays to maintain a cautious lending regime

BARCLAYS Bank (Zimbabwe) has reiterated that it would maintain its cautious lending regime, as default rates in the sector continued to increase.Giving a trade update as the bank's Annual General mee...

By Staff reporter | Published: 04 July 2013

LANDS & AGRICULTURE

CFI finds global suitor for Suncrest

AGRO-INDUSTRIAL conglomerate, CFI Holdings Limited, is on the verge of concluding a deal for the purchase of a 50 percent shareholding in poultry producer Suncrest by Meat Team, a global meat compan...

By Staff reporter | Published: 04 July 2013

TELECOMS & TECHNOLOGY

TelOne seeks $30 million

TelOne requires $30 million to kick-start projects to upgrade its infrastructure and finish the fibre optic cable installations in the country, TelOne managing director Chipo Mutasa has said adding t...

By Business reporter | Published: 04 July 2013

INDUSTRIALS & ENERGY

Delta invests US$3m into sorghum production

Beverage manufacturer Delta Corporation will provide communal and commercial farmers with US$3 million to produce 12 000 tonnes of sorghum under contract in the 2013/14 cropping season, an official s...

By Business reporter | Published: 04 July 2013

INDUSTRIALS & ENERGY

Steelnet calls for meeting with creditors

Steelnet (Private) Limited members and creditors will hold their first meeting at the High Court of Zimbabwe on Wednesday next week.According to a statement by the company, which is now under liquida...

By Business Reporters | Published: 04 July 2013

INDUSTRIALS & ENERGY

CFI sells major Victoria Foods stake

Fast-moving consumer goods giant, CFI Holdings, is selling 49% of its shareholding in Victoria Foods to South Africa's JSE-listed Grindrod Trading Limited for $3,2 million, as international corporati...

By Business reporter | Published: 03 July 2013

INDUSTRIALS & ENERGY

OK increase shares in issue to 1 138 856 654

Details:- Shares before: 1 130 834 414- Shares added: 8 022 240- New shares in issue: 1 138 856 654- Effective date: 02 July 2013- Reason: Employee Share Option Scheme ...

By Business reporter | Published: 03 July 2013

INDUSTRIALS & ENERGY

Delta increase shares in issue to 1 231 374 515

Details:- Shares before: 1 227 362 815- Shares added: 4 011 700- New shares in issue: 1 231 374 515- Effective date: 02 July 2013- Reason: Employee Share Option Scheme ...

By Business reporter | Published: 03 July 2013

FINANCIAL SERVICES

TN Bank re-brandings to 'purple' Steward Bank

Econet Wireless Limited has change the name of its banking subsidiary, TN Bank Limited, to Steward Bank Limited, sealing the transformation of the commercial bank expected to capitalise on Econet's g...

By Business reporter | Published: 03 July 2013

INDUSTRIALS & ENERGY

European investor for Olivine industries

AICO Africa Limited has secured a European investor who will invest $20 million into one of it's subsidiaries Olivine Industries, a source has revealed.A source said representatives of the new invest...

By Business reporter | Published: 03 July 2013

TELECOMS & TECHNOLOGY

Liquid Telecom buys French equipment supplier

LIQUID Telecom, the African wholesale fibre network and satellite connectivity supplier has picked up French telecommunications equipment supplier, Ekinops, to complete its advanced fibre optic netwo...

By Business reporter | Published: 03 July 2013

TELECOMS & TECHNOLOGY

Telecel indigenisation forges ahead

Investment group Empowerment Corporation (Private) Limited (EC) is to increase its shareholding in Telecel Zimbabwe (Telecel), as the mobile group moves to fulfil its licensing obligations, businessd...

By Staff reporter | Published: 03 July 2013

MINING & RETAIL

Blanket mine increases productions

Caledonia Mining Corporation's Gwanda based gold mining concern, Blanket Mine has increased production for the second quarter of 2013 by more than 10 percent according to the latest production figure...

By Business reporter | Published: 03 July 2013

INDUSTRIALS & ENERGY

Varichem Pharmcare employees not happy

Varichem Pharmaceuticals, a wholly indigenised company, employees are complaining that the appointment of Alexio Muchabaiwa as the company's Managing Director has created a lot of problems affecting...

By Business reporter | Published: 03 July 2013

INDUSTRIALS & ENERGY

Schweppes gets the 2013-3 Employer of Choice Award

BEVERAGES manufacturer Schweppes Zimbabwe Limited has been named the winner of the 2012-2013 Employer of Choice in a competition run by the Institute of People Management and Employers Confederation ...

By Staff reporter | Published: 03 July 2013

TELECOMS & TECHNOLOGY

Econet takes NetOne to court over termination fees

THE country's largest mobile phone operator Econet Wireless has approached the courts once again in a bid to recover $12 million owed by State-owned mobile company Netone in interconnection fees.In p...

By Business reporter | Published: 03 July 2013

BUSINESS NEWS

Government finalises medical consultation fee

The government has finalised harmonised consultation tariffs for medical practitioners, a development that is expected to resolve the stalemate between the Zimbabwe Medical Association (ZIMA) and the ...

By Staff reporter | Published: 01 July 2013

TELECOMS & TECHNOLOGY

Powerspeed revenue rise by 12.5%

ELECTRICAL products manufacturer Powerspeed's revenue for the half year period to March 31, 2013 rose 12,5 percent to help the Zimbabwe Stock Exchange-listed group to a marginal profit.Revenue in the...

By Business reporter | Published: 03 July 2013

TRANSPORT & TOURISM

Boardroom squabbles hit RTG Group

RTG has been allegedly hit by some serious corporate governance issues and concerns after an attempt by a board faction to push for the ouster of certain company executives.The controversial move, re...

By Business reporter | Published: 01 July 2013

LANDS & AGRICULTURE

AICO reports a depressed set of financials

AICO reported a depressed set of financials negatively impacted by the lower seed sales volumes, lower lint prices, impairments as well as high finance costs. Although sales volumes grew 18% to 213,72...

By Business reporter | Published: 01 July 2013

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