TELECOMS & TECHNOLOGY

Telecel licence will not be renewed

GOVERNMENT says Telecel Zimbabwe should first address its lopsided shareholding by transferring majority stake in the firm to locals before its mobile phone operator's licence can be renewed. Transpo...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet increase revenue by 14% to $695 million

Econet's revenue for the year ended 28 February 2013 was $694.8 million, an increase of 14% compared to the previous year. Earnings Before Interest, Taxation, Depreciation and Amortisation (EBITDA)...

By Moyo Roy | Published: 10 June 2013

MINING & RETAIL

Edgars on course to meet $65 million turnover

EDGARS  Stores Limited  is  on  course  to achieve  turnover  of above $65 million by year  end,  following  a  4.8% increase in sales  uni...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

African Development Corporation initiates BancABC takeover offer

African Development Corporation announced that the management and the Supervisory Board resolved to engage in pooling agreements with aligned investors in ABC Holdings Limited, Botswana (BancABC) and...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Steelnet placed under final liquidation

STEELNET Zimbabwe has been placed under final liquidation and the liquidator has invited tenders from interested parties to purchase operating assets.Steelnet liquidator Mr Christopher Maswi of Fair...

By Mafu sithabile | Published: 10 June 2013

FINANCIAL SERVICES

AfrAsia Kingdom targets $50 million capitalisation

AfrAsia Kingdom Zimbabwe Limited has embarked on initiatives to strengthen the group's businesses in response to regulatory requirements for additional capital and in preparation of an expected econo...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Business groups back new BEE regulations

Local business groups and the country's consumer watchdog have backed the recently announced statutory instrument barring foreign investors from setting up business with low capital outlays. Nearly a...

By Business reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Pearl Properties occupancy ratios below budget

Pearl Properties missed the occupancy target  for the first 4 months of 2013 achieving 78.87% against a projection of 83.26%, group MD Francis Nyambiri told the AGM this morning. "We were t...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

BAT volumes down 16% following increase in excise duty

BAT volumes are down 16% following the increase in prices after Treasury raised excise duty on cigarettes, MD Lovemore Manatsa has said. Manatsa told the AGM that owing to the liquidity challenges t...

By financial express | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe leases a 50-seater Embraer jet

Air Zimbabwe has leased a 50-seater Embraer jet that is now servicing its domestic routes as it seeks to offer cost-effective services to its passengers. The jet, which is one of the two that will be...

By Business reporter | Published: 10 June 2013

LANDS & AGRICULTURE

Zimbabwe operations boost Tongaat Hulett's earnings

Two Zimbabwe-based operations boosted Tongaat Hulett 's improved operating profits, the company said in a statement. "The two Zimbabwe operations generated operating profit of R630m up from R62...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Restructuring of POSB begins

Restructuring of the People's Own Savings Bank has started, following the engagement of legal and financial advisors to facilitate the transaction, Parastatals and State Enterprises Minister Gorden M...

By Business Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe unveils its Airbus A320

Air Zimbabwe has introduced a leased Airbus A320 to its fleet to  service the Harare - Johannesburg route.The plane has been in South Africa for mandatory safety tests and is one of the two Airb...

By New Ziana. | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Turnall to open plant in Bulawayo

Asbestos products manufacturer Turnall Holdings last week said low product demand in the first four months of the year resulted in a 10 percent slump in turnover compared to the same period last year...

By New Ziana. | Published: 10 June 2013

FINANCIAL SERVICES

IFC snaps about 10.3% stake in ABC Holdings

THE International Finance Corporation has snapped about 10,3 percent stake in ABC Holdings after exercising an option to convert a 78 million pula (US$9,2 million) loan to the banking group into equi...

By Business Reporter | Published: 10 June 2013

BUSINESS NEWS

Zimbabwe losing millions to gold smuggling

ZIMBABWE is losing over $50 million worth of gold every month to smuggling activities, according to the Minerals Marketing Corporation of Zimbabwe (MMCZ).Owing to the inability of government to finan...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Jericho voted 'The Real Africa Advertising Agency of the Year 2013'

Jericho Advertising was honoured tonight at South Africa's prestigious AdReview Awards Ceremony in Johannesburg, walking away with the Africa Advertising Agency of The Year Award.Jericho CEO, Denf...

By Own correspondent | Published: 10 June 2013

MINING & RETAIL

Bon Marche Supermarket's fourth Aerobathon - video

The Bon Marche supermarket chain in Harare, Zimbabwe, held its fourth Aerobathon on Saturday the 23rd of March 2013. The aim was to promote a healthy lifestyle for Bon Marche customers in a fun and f...

By OK Zimbabwe | Published: 10 June 2013

MINING & RETAIL

OK Supermarket Wynne Street branch opening - video

The OK supermarket chain in Zimbabwe celebrated the opening of its new Wynne Street branch in Harare on Thursday the 9th May 2013. OK's valued partner suppliers were on hand to provide a carnival atm...

By Staff reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zim gets a new Airbus A320

Air Zimbabwe has taken delivery of an Airbus A320 which is expected to ply the Johannesburg route.The plane, which was going under routine maintenance and safety checks Thursday at the Harare Interna...

By Staff Reporter | Published: 10 June 2013

LANDS & AGRICULTURE

SeedCo sales volumes down 10%

SeedCo is seeing more cash being generated by the business as the stock holding levels are being reduced, Chief Executive Officer Morgan Nzwere told analysts at a briefing yesterday.The group's sale...

By Business reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Turnall sales and demand rebounds

Turnall saw a rebound in sales and demand in the month of April and grew sales for that month to bring volume deficit down from the 16% in Q1 to 6% for the year to April 2013, MD John Jere told the A...

By Business reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Lafarge records static revenue performance

Lafarge's performance in the first 4 months was unchanged with revenue of $21.7 million, almost the same figure posted in the comparative period, MD Jonathan Shoniwa told the AGM this morning. "...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

NetOne losses $84 900 airtime

NetOne Cellular (Private) Limited lost thousands of dollars to its customer care service officer who allegedly converted US$84 900 worth of airtime to his own use.Reuben Langton Mujuru (29) was a sal...

By Court reporter | Published: 10 June 2013

FINANCIAL SERVICES

NicozDiamond's profitability in line with budgets

NicozDiamond's profitability in the 4 months to April is in line with budget expectations with the Gross Premium Written improving by 31.25% to $10.5 million as at 30 April 2013, group MD Grace Murad...

By Business reporter | Published: 10 June 2013

Latest News

Latest Published Reports

Latest jobs