MINING & RETAIL

Mabwe Minerals seeks green light to start operations

United States based Mabwe Mineral Holdings Incorporation (MMI) said it has been compiling documents (specifications sheets) that are necessary for it to get the green light to commence full scale oper...

Pension fund in actuarial deficit

The Local Authorities Pension Fund (LAPF) ability to meet its pension obligations is in doubt as the institution is facing a $341,4 million actuarial deficit as at the end of December 2012.The LAPF is...

MINING & RETAIL

Dalny Mine closure impacts New Dawn revenue

New Dawn Mining revenue was adversely impacted by the closure of the Dalny Mine effective August 30, 2013, as well as the continuing decline in the price of gold during the quarter ended September 30...

TRANSPORT & TOURISM

Cresta Sprayview relaunched after $1.6m renovation

Tourism and Hospitality Industry Deputy Minister Walter Kanhanga has relaunched TA Holdings latest offering - Cresta Sprayview - after a $1.6 million upgrade at the Victoria Falls hotel. The fund...

LANDS & AGRICULTURE

Colcom volumes, turnover growth to continue

Colcom expect the trend of volumes and turnover growth to continue at about 14% over prior year and that profitability will be enhanced by managing all operational costs downwards in an environment o...

FINANCIAL SERVICES

Andrew Schultz joins Imara Africa Securities

Imara Africa Securities today announced the addition of Andrew Schultz to its team with immediate effect. Andrew will lead the equity sales/strategy function which the Group say will deal with an exis...

MINING & RETAIL

'NewZim Steel deal to take longer than expect'

WORKERS of NewZim Steel, formerly Ziscosteel, might have a gloomy Christmas following revelations by Industry and Commerce Minister Mike Bimha that Essar Africa Holdings and the Government were still ...

FINANCIAL SERVICES

Imara projects loss turnaround

Investment advisory firm Imara Holdings Limited (Imara) has projected a turnaround of its losses to record a profit in the half year to October 2013.The Botswana Stock Exchange-listed group - set to ...

LANDS & AGRICULTURE

BAT scales down Zimbabwe operations

BRITISH American Tobacco (BAT) Zimbabwe Holdings Ltd is scaling down its operations in the country amid indications the cigarette maker could resort to outsourcing various local brands from its globa...

CONSTRUCTION & PROPERTY

Zim retail space in high demand

Office space take-up in Zimbabwe is poor with voids in some buildings increasing to around 30% owing to economic activity in the country, a leading property consultancy firm said.In its Africa report...

TRANSPORT & TOURISM

Zim launches e-visa for China, India

ZIMBABWE has launched an e-visa platform for China and India in line with the increased tourist arrivals and investment from those countries.In an interview yesterday, Zimbabwe Tourism Authority chief...

MINING & RETAIL

US to seize funds from Zimbabwe diamonds

THE UNITED States (US) has maintained that it will confiscate money from the sale of Zimbabwe diamonds if companies dealing in the gems do so through the US financial system.Speaking on the sidelines ...

FINANCIAL SERVICES

AfrAsia CEO apologises

AfrAsia Kingdom Limited minority shareholders forced the postponement of the group's extraordinary general meeting to consider, among other resolutions, a proposal to raise fresh capital, after raisin...

TELECOMS & TECHNOLOGY

Econet, Liquid scoop top awards

Econet Wireless Zimbabwe and Liquid Telecoms scooped one prestigious award each yesterday during the 2014 AfricaCom awards ceremony that was held in Cape Town.Liquid walked away with the Best Cost Eff...

LANDS & AGRICULTURE

Producers seek sugar imports ban

Zimbabwe's sugar producers are seeking government's intervention in restricting imports of the commodity, Hippo Valley Estates (Hippo) said.The group - 50 percent owned by South Africa-based agricultu...

MINING & RETAIL

Mwana Africa expects a $3,5m profit

MWANA Africa is expecting a profit of $3,5 million in 2014 after it revised its earnings from an initial loss forecast of $14,5 million on the strength of its subsidiary Bindura Nickel Corporation's n...

FINANCIAL SERVICES

NicozDiamond on capital-raising drive

ZIMBABWE Stock Exchange-listed insurance firm NicozDiamond Insurance is in the process of raising capital that will see the firm consolidating its position on both the local and regional markets, a co...

INDUSTRIALS & ENERGY

Delta Corp posts another robust set of results

Delta Corporation, the local brewing giant, posted another robust set of results showing a solid 12.2% y-o-y growth in net income to $47.2m. The robust performance was on the back of margin expansion...

INDUSTRIALS & ENERGY

Delta to construct a $8m Chibuku bottling plant

ZIMBABWE Stock Exchange-listed Delta Beverages is going to construct a $8 million line for its Chibuku Super brand as the company looks set to maintain its dominance on the local market.The plant is s...

INDUSTRIALS & ENERGY

Nestle to resume Cerevita exports to SA

FOOD giant Nestle Zimbabwe intends to re-establish the export of Cerevita to South Africa which was terminated a few years ago, The Financial Gazette reported.The company's managing director, Kumbira...

LANDS & AGRICULTURE

SeedCo close to selling Quton

Seed manufacturer, Seed Co Limited, is close to sealing a deal for the disposal of its cotton planting seed unit, Quton, to an Indian firm Mahyco.The deal is expected to improve cotton production in t...

INDUSTRIALS & ENERGY

Delta could increase shareholding in Afdis

ZSE-listed wines maker, African Distillers Limited (Afdis), has begun talks that could possibly result in beverages firm, Delta Corporation, increasing its shareholding in the company.There has been n...

FINANCIAL SERVICES

Zim banks running out of cash

Zimbabwean banks have been hit by a liquidity crisis following the July 31 polls resulting in the public failing to withdraw money in various financial institutions.Several Harare residents told Studi...

MINING & RETAIL

Zimbabwe welcomed into diamonds 'family'

The Antwerp World Diamond Council has welcomed Zimbabwe to the diamond trading hub's "family", saying they cannot wait to have the sale of the local gems start."You are now part of the family, you are...

MINING & RETAIL

Govt to audit mining claims

The Government will soon embark on an audit of mining claims that have been issued to establish the reasons for many of them remaining unexploited, a cabinet Minister has said.Mines and Mining Develop...