INDUSTRIALS & ENERGY

Unilever Zimbabwe set to resume exports

Unilever Zimbabwe will resume exports in the region by the end of the year after being forced to abandon exports in the 1990s due to an economic crisis.Founded in 1943, the company is a subsidiary o...

By Staff reporter | Published: 10 June 2013

FINANCIAL SERVICES

Banks gang up against EcoCash

LOCAL commercial banks have ganged up on EcoCash and other mobile money service providers by arm twisting the Reserve Bank of Zimbabwe (RBZ) to announce measures that compel telephone companies to...

By Staff reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Chemco reports dismal performance

Chemco reported a dismal FY2012 performance as overall group revenue from continuing operations fell by 47% from $6.6 million to $3.5 million. The group recorded a loss after taxation of $1.1 millio...

By Business reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Emirates' first boeing 777-300ER touches down in Zmbabwe

Emirates, one of the world's fastest growing international airlines, today welcomed the introduction of a Boeing 777-300ER on its Dubai-Lusaka-Harare daily service.Civil Aviation Authority of Zimba...

By Mafu Sithabile | Published: 10 June 2013

FINANCIAL SERVICES

14 banks have met first level of capital requirements

The Reserve Bank of Zimbabwe governor Gideon Gono has said 14 out of 22 banks had met the first level of minimum requirements by December 31 last year. 5 other banks had made "significant" progress ...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Astra plans to introduce new products in bid to regain lost market share

Astra is planning to introduce new products in the next 6 to 8 weeks in an effort to regain the company's lost market share, MD Mac Mazimbe told the AGM this afternoon. "We are planning on spen...

By Business reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

TSL Limited earnings up 143% on improved efficiencies

TSL Limited is planning to broaden its logistics business as they have an ambition to operate regionally, as stated by the group's chief executive officer Washington Matsaira at an analyst briefing ...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Mimosa platinum output declines

AQUARIUS PLATINUM said production at its local operation Mimosa Mining Company for the quarter ended December 2012 declined by 5 percent to 600 066 tonnes. Revenue for the same period rose 16 percen...

By Business Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Hunyani reports muted performance

Hunyani reported a muted financial year ended 2012 performance as overall group volumes fell by 10% which was attributed to disposal of non-core operations and weak domestic demand. Revenue from con...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

New Dawn reports end of work stoppage at Dalny mine

New Dawn Mining announced that the illegal and unprotected work stoppage at its Dalny Mine in Zimbabwe, as previously reported on January 16, 2013, has ended. The illegal work stoppage ended as...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Zimbabwe to double Marange diamond output

Zimbabwe expects diamond production from its Marange fields to double to 16,9 million carats this year as companies ramp-up production in a region where human rights groups have flagged concerns ove...

By Staff reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet's Liquid Telecoms becomes Africa's largest fibre optic network operator

Liquid Telecom has become Africa's largest operator of terrestrial cross-border fibre optic networks after acquiring all the East Africa businesses of South African technology giant Altech.In a sta...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet's Liquid Telecoms to buy East African assets from an SA company

Liquid Telecom, Zimbabwe's largest internet company in terms of infrastructure, volume of traffic and customer base and a subsidiary of the Econet Wireless Group will purchase South Africa's Allied...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Imara share manipulation probe gathers momentum

Investigations into possible share price manipulation by Imara Edwards (Imara) have reached an advanced stage, with results expected to be announced soon, an inside source has revealed. The investi...

By Business Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe upbeat ahead of IATA audit results

RESULTS of the safety standards audit which the International Air Transport Association is carrying out on Air Zimbabwe will be out by the end of February. Air Zimbabwe acting chief executive offic...

By Staff reporter | Published: 10 June 2013

MINING & RETAIL

New Dawn increase gold sales

New Dawn Mining reported consolidated gold production for the quarter ended December 31, 2012 of 9,069 ounces (8,440 ounces attributable to New Dawn, after adjusting for the minority interests' sha...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Government to sell stake in POSB

The Government has agreed to relinquish a 49 percent stake in People's Own Savings Bank (POSB) following approval of the restructuring and privatisation plan which will transform the bank into a com...

By Staff reporter | Published: 10 June 2013

FINANCIAL SERVICES

Kingdom Bank to acquire Spiritage through a court order

Kingdom Bank is set to acquire the assets of Zimbabwean telecoms operator Spiritage, owned by former Econet Wireles Group executive Zachary Wazara, through a court order to settle unpaid loans worth...

By Staff reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet to pays US$27 million to buy TN Bank

ECONET Wireless Zimbabwe will pay out about US$26,5 million worth or the cash equivalent to acquire the remaining 55 percent ordinary shareholding in TN Bank Limited. Econet and TN did not reveal t...

By Business Reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Russian company eyes Turnall Holdings stake

A Russian resources company hand entered the race for the acquisition of asbestos products manufacturer, Turnall Holdings.This move has raised the stakes in a bid that could see potential suitors ad...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Bellevue Spar gives away 8 cars

EIGHT lucky shoppers on Saturday won a car each in the Bellevue Spar Silver Jubilee promotion.The draw was conducted at one of the group's supermarkets, Raj Spar at the Nkulumane Complex in Bulawayo...

By Staff reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe leases two aircraft

Air Zimbabwe said on Thursday it has leased two aircraft which it will deploy on regional routes in March this year as part of its revival plans.The national carrier resumed limited flights late la...

By Staff reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Chisumbanje ethanol project set to re-open

CHISUMBANJE - The multimillion dollar ethanol project in Chisumbanje is set to re-open after villagers and the company agreed on a wide range of issues meant to avert social disaster in Chipinge.Agr...

By Staff Reporter | Published: 10 June 2013

FINANCIAL SERVICES

Govt restructures POSB

Government recently approved restructuring proposals that will transform the shareholding structure in POSB and lead to the possible listing of the bank on the Zimbabwe Stock Exchange (ZSE), State E...

By Staff Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Delta Beverages revenue expected to rise by 16%

Delta publishes a trading update for the quarter ending December 31 2012 saying revenue for the quarter October to December is up 14% and 16% year to date supported by improved mix and minimal pri...

By Business reporter | Published: 10 June 2013
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