FINANCIAL SERVICES

Human capital skills a key focus area for NicozDiamond

From their presentation at the analyst briefing after announcing their half year results NicozDiamond managing director, Mrs Grace Muradzikwa said that retaining human capital skills was one of their ...

By Staff reporter | Published: 30 August 2013

MINING & RETAIL

Mwana Africa executives take 50% pay cut

MWANA Africa Plc executives have agreed to a 50 percent pay cut as the pan-African multi-commodity mining company bids for $5 million in annual savings.The Alternative Investment Market listed mining ...

By Staff reporter | Published: 30 August 2013

FINANCIAL SERVICES

NMB Bank exploring opportunities in the low LSM

NMB Bank Chief Executive James Mushore told an analyst briefing yesterday that his bank is going to explore growth opportunities in other market segments saying the journey might lead them to opportu...

By Business reporter | Published: 30 August 2013

LANDS & AGRICULTURE

SeedCo optimistic about the coming agric season

SeedCo Chief Executive Morgan Nzwere told the AGM yesterday that SeedCo is optimistic about the forthcoming agriculture season as they expect the new government to pursue pro-agriculture policies.&nbs...

By Business reporter | Published: 30 August 2013

FINANCIAL SERVICES

POSB reports a loss

THE People's Own Savings Bank (POSB) recorded a loss of $131 000 in operating profit in the first half of the year partly due to a drop in non- interest income and a decline in revenue reserves.Accor...

By Business reporter | Published: 30 August 2013

INDUSTRIALS & ENERGY

Zeco reports a $1.3 million loss

THE troubled Zimbabwe Engineering Company (Zeco) which is linked to flamboyant businessman Philip Chiyangwa recorded a depressing set of results for the financial year ended 2013. The depressing set ...

By Business reporter | Published: 30 August 2013

MINING & RETAIL

Meikles mulls acquiring gold, diamond mines

Meikles Centar Mining has cast acquisitive glances at Zimbabwe mining assets amid indications the company is planning to make a grand entrance onto the country's mining scene. A well-placed source sai...

By Business reporter | Published: 30 August 2013

FINANCIAL SERVICES

Stanbic profit up 23%

Earnings for the 6 months to June for Stanbic Bank - a member of South Africa-headquartered Standard Bank - were up 23% to $8 million driven by growth in net interest income. Fee and commission income...

By Business reporter | Published: 30 August 2013

FINANCIAL SERVICES

NMB Bank warns on bills scrapping

NMB chief executive officer James Mushore has warned that the cancellation of domestic consumer debts owed to local authorities and plans to write off more utility bills may worsen the liquidity crisi...

By Business reporter | Published: 30 August 2013

FINANCIAL SERVICES

MasterCard and Standard Bank Group Sign Agreement

JOHANNESBURG, South-Africa - Ann Cairns, President of International Markets, MasterCard, with Peter Schlebusch, Group Executive, Standard Bank Group as they celebrate the signing of an agreement stren...

By APO | Published: 30 August 2013

FINANCIAL SERVICES

CABS posts solid growth

THE Central African Building Society has remained on a solid growth path after net surplus in the interim to June 2013 rose 11 percent to $10,6 million driven by increases in both interest and non-int...

By Business reporter | Published: 29 August 2013

INDUSTRIALS & ENERGY

Cheap sugar imports impacts on Star Africa sales volumes

Gold Star sugar volumes were adversely affected by cheap imports which are dumped into the market, Star Africa's CEO Sam Mushiri told an AGM today. Mushiri noted that there is now an understanding wit...

By Business reporter | Published: 29 August 2013

INDUSTRIALS & ENERGY

Afdis continues to enjoy volumes growth

Afdis continues to enjoy growth in volumes, revenues and profits as it regains its position in the spirit and wines market supported by improving operational efficiencies. Sales volumes grew by 18% w...

By Staff reporter | Published: 29 August 2013

CONSTRUCTION & PROPERTY

Lafarge revenue declines 6.3%

Lafarge cement demand for the first 7 months of 2013 was constrained by limited construction activity, MD Jonathan Shoniwa said yesterday.Construction projects have not taken off as anticipated; cons...

By Staff reporter | Published: 29 August 2013

LANDS & AGRICULTURE

Dairibord Holdings' core earnings fall

DAIRIBORD Holdings' core earnings fell 170 percent in the six months to June this year due to unusually high costs, including retrenchment packages and relocation of machinery. One of the country's l...

By Business Reporter | Published: 29 August 2013

TELECOMS & TECHNOLOGY

Air Zimbabwe eyes regional, international flights

AIR ZIMBABWE says it is targeting to resume flights to regional and international destinations before the end of this year.The airline suspended regional and international flights two years ago after ...

By Staff reporter | Published: 29 August 2013

TELECOMS & TECHNOLOGY

Econet still under Potraz probe

ECONET WIRELESS might have complied with the regulatory authority directive against slashing voice call tariffs by more than half, but the company still faces investigation into the propriety or impr...

By Staff reporter | Published: 29 August 2013

MINING & RETAIL

Implats' ordered to revise its Zimbabwe indigenisation termsheets

Impala Platinum has been notified by the Zimbabwe government that its termsheets on indigenisation need to be revisited. The Company has been informed that the Government wishes to review the termshee...

By Business reporter | Published: 29 August 2013

FINANCIAL SERVICES

Ecobank on Zimbabwe expansion drive

Togo-Based Ecobank International plans to expand its footprint in Zimbabwe.The financial group, whose local unit Ecobank Zimbabwe Limited (EZL) already has 11 branches across the country, says it will...

By Business reporter | Published: 28 August 2013

TELECOMS & TECHNOLOGY

EcoCash to launch Zim - SA remittance service

After nearly nine months of development, Econet Wireless says it is now putting the final touches to a platform that will allow remittances to be made between South Africa and Zimbabwe.Zimbabweans li...

By Staff reporter | Published: 28 August 2013

TELECOMS & TECHNOLOGY

Telecel urges unregistered subscribers to register SIM cards urgently

Telecel has urged all subscribers with unregistered SIM cards to have them registered by Friday this week to avoid being disconnected."Any subscriber with an unregistered SIM card risks disconnection ...

By Mike Hamilton | Published: 28 August 2013

FINANCIAL SERVICES

NicozDiamond reports impressive numbers

The short term insurer reported a set of impressive numbers underlined by a 14% growth in gross premium written to $16m. Rental and investment income declined slightly from $0.6m to $0.4m. However, c...

By Staff reporter | Published: 28 August 2013

MINING & RETAIL

Marange set to become world's largest diamond producer

AFRASIA Kingdom says Marange diamond fields will become the largest diamond producer in the world based on the 16.9 million carats the project is expected to produce this year.In its weekly commentary...

By Business reporter | Published: 28 August 2013

MINING & RETAIL

Hwange mine workers down tools

Hwange Colliery Company mine workers went on strike on Monday over unpaid salaries. Jemister Chininga, the company's acting managing director, yesterday confirmed that the employees, who claim they ar...

By Staff reporter | Published: 28 August 2013

LANDS & AGRICULTURE

Gushungo Dairy ramps up production

Alpha and Omega, a subsidiary of Gushungo Holdings, has plans to increase output at its beverage-making unit by 40 times to 200 000 litres per day due to growing export and domestic demand, a company ...

By Staff reporter | Published: 28 August 2013

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