INDUSTRIALS & ENERGY

Zesa Holdings clears its debts to suppliers in the region

Electricity load-shedding is set to ease in most parts of the country after Zesa Holdings cleared its debts to suppliers in the region, although some challenges still remain in supplying enough pow...

By Staff Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

ZESA to refurbish Byo and Hre power stations

ZESA Holdings is to refurbish Bulawayo and Harare hermal power stations to improve efficiency at the two power stations that have been operating at sub-optimal levels.The refurbishment at Harare pow...

By Staff Reporter | Published: 10 June 2013

FINANCIAL SERVICES

NMBZ shareholders approve placement of shares to offshore investors

NMBZ shareholders, unanimously voted for all the seven resolutions at an EGM held early this morning paving way for injection of new capital by offshore strategic institutional investors.Chairman Te...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Meikles revenue up 16% in 9 months

Meikles group revenues for the 9 months ended 31 December 2012 increased by 16% compared with the prior period driven by increased volumes and margins, the company said in an Interim management repo...

By Business reporter | Published: 10 June 2013

LANDS & AGRICULTURE

Ariston turnover up 26.9% to $5 million in 4 months to January

Ariston's 4 months to January turnover increased by 26.9% to $5.051 million following a successful recapitalisation exercise chief executive officer Paul Spear told the AGM on Friday. "This ti...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Standard Chartered eyes more Zimbabwe private equity deals

Standard Chartered's private equity arm is looking for more deals in Zimbabwe, a senior executive told Reuters on Monday, betting on a rise in consumer spending after years of hyperinflation.The Br...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Meikles limited - trading update for nine months shows improved turnover

Meikles released an encouraging trading update for the nine months to 31 December 2012 highlighting the recovery in group operations. Turnover for the nine months grew by 16% y-o-y driven by increas...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Bata to outsource hides from neighbouring countries

LEADING shoe manufacturer, Bata Shoe Company, intends to source raw hides from neighbouring countries due to a shortage on the local market which has been affecting production at its Gweru factory....

By Business reporter | Published: 10 June 2013

TRADE & INDUSTRY

ZITF bookings overwhelming

Space booked so far for this year's Zimbabwe International Trade Fair now exceeds space taken by the same period last year, an official has said. ZITF deputy general manager Mrs Noma Ndlovu said a t...

By Staff reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe pursuing code sharing with leading airlines

AIR ZIMBABWE HOLDINGS yesterday said it is pursuing some code sharing arrangements with leading airlines as it seeks to widen it route network. Acting group chief executive Mr Innocent Mavhunga sai...

By Business Reporter | Published: 10 June 2013

FINANCIAL SERVICES

NMBZ secures $16 million from offshore, to raise $50 million

NMB has secured $16 million new capital from foreign investors which will help the bank raise more lines of credit for deploying in areas such as mining and agriculture, group CEO James Mushore told...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Platinum producers told to start refining locally as govt plans to ban raw exports

THE government told platinum producers on Tuesday to start refining the metal locally within two years, placing a further requirement on an industry already forced to surrender majority shares to lo...

By Reuters | Published: 10 June 2013

INDUSTRIALS & ENERGY

Afdis reports a strong operating performance

Afdis reported a strong operating performance showing a 22% growth in sales volumes to 3.2m litres. Local production increased by 21% to 1.7 million litres and accounted for 62.9% of total revenue. ...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet attacks CABS

ECONET Wireless Zimbabwe has launched a scathing attack on CABS accusing the building society of campaigning against its mobile phone money transfer service, EcoCash, because it offers a similar pro...

By Business Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe debt balloons to US$188 million

Air Zimbabwe's debt has ballooned to US$188 million, further dampening hopes of securing a strategic partner to help the airline resume full operations.The national airline's debt has accumulated to...

By Staff Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Emirates skywards members soar with Platinum tier

Emirates Skywards, the award-winning frequent flyer programme of Emirates Airline, today announced a significant enhancement to its offering with the introduction of ‘Platinum', a new tier which s...

By Mafu Sithabile | Published: 10 June 2013

FINANCIAL SERVICES

EcoCash open to every bank in Zimbabwe

A senior Econet Wireless executive, Mr Darlington Mandivenga, who is responsible for the rollout of EcoCash, has dismissed a claim reportedly made by Bankers Association of Zimbabwe's immediate past...

By Ndou Paul | Published: 10 June 2013

TRANSPORT & TOURISM

DHL workers panic

Workers of express logistics firm DHL Zimbabwe have expressed concern over the future of the company following the transfer of shareholding to four local individuals.The employees are unsure of the...

By Staff Reporter | Published: 10 June 2013

FINANCIAL SERVICES

Obert Mpofu's ZABG rebrands to Allied Bank

ZABG has commenced its rebranding process from its old name to the new brand, Allied Bank. The rebranding to Allied Bank is part of the overall plan to turn around the fortunes of the financial inst...

By Business Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zim rolls out ambitious plan, to take delivery of 2 new planes

ZIMBABWE's troubled state-run airline, Air Zimbabwe has rolled out an ambitious plan as it seeks to revive its fortunes following years of maladministration that at one time grounded the airline's a...

By Staff reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

PPC Zimbabwe celebrates its centenary and announces expansion plans

Portland Holdings Limited (PHL), PPC's Zimbabwe subsidiary, has announced its intention to construct a new cement plant to service the Harare and central Mozambique markets. The new plant will have ...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Kingdom voluntarily surrenders stockbroking licence

KINGDOM Stockbrokers is said to have voluntarily surrendered its licence citing viability concerns emanating from low volumes of business.Kingdom Stockbrokers did not attend ZSE trading today and on...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Telecel faces fresh lawsuit

TRUMBELT Computers Limited has filed fresh charges against Telecel Zimbabwe over its mobile quiz promotion, Win Big Promo, for copyright infringement on the promotion concept.The fresh legal suit s...

By Staff reporter | Published: 10 June 2013

MINING & RETAIL

Indian diamantaires pin hopes on Marange diamonds

Diamantaires in world's biggest diamond cutting and polishing centre in Surat are looking at Zimbabwe for the required supplies of rough diamonds during the year as diamond production of mining comp...

By Melvyn Reggie Thomas, TNN | Published: 10 June 2013

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
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