INDUSTRIALS & ENERGY

Cosmetic manufacturer 'Wallace Laboratories' liquidated

WALLACE Laboratories, a cosmetic manufacturer owned by former deputy minister Phineas Chihota has been thrown into liquidation after it declared insolvency.Creditors met at the High Court to conside...

By Staff Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Beira-Feruka oil pipeline usage increases

THE usage of the Beira-Feruka oil pipeline continues to increase over the years owing to the Road Levy which the Government imposed on fuel dealers, who bring the product by road.Statistics released...

By Staff Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

David Whitehead collapses

THE collapsed David Whitehead could be thrown into liquidation due to insolvency, denting the hopes of more than 3 000 employees who were expecting to return to work.The provisional judicial manager...

By Business Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Medtech negotiating with a local company willing to buy Zimpharm

ZIMBABWE Stock Exchange-listed health care products manufacturer and supplier Medtech Holdings is negotiating with a local company for the disposal of its remaining shareholding in Zimbabwe Pharmac...

By Staff Reporter | Published: 10 June 2013

LANDS & AGRICULTURE

Gushungo Holdings grows market share

PRESIDENT Robert Mugabe's family dairy company has stepped up efforts to claim market share in the highly competitive sector after it embarked on an aggressive marketing drive.Alpha Omega, a subsid...

By Staff reporter | Published: 10 June 2013

TRANSPORT & TOURISM

African Sun trims revenue growth expectation

HARARE - African Sun is expecting revenue to rise by 8% in the year to September 2013, with EBITDA forecast at 12%, unchanged on last year, Group CE Shingi Munyeza told the AGM. At the briefing for ...

By Business reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

ZPI targets 40% income from projects

HARARE - There is now limited scope for rent reviews in the sector and ZPI is focusing on growing the contribution of projects to total income, MD Edson Muvingi told an analysts briefing yesterday.&...

By Business reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Masimba Holdings to create construction opportunities

Masimba Holdings will focus on developing adequate long-term funding structures in order to help the group exploit developing opportunities in the country as well as to match long term requirement...

By Business reporter | Published: 10 June 2013

CONSTRUCTION & PROPERTY

Lafarge projects $90 million revenue in F13

Lafarge's full year revenue is projected to increase by 29% to $90 million compared with $70 million recorded in 2012, MD Jonathan Shoniwa has said. Giving a trading update after publishing fin...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Edgars profits rise to $3.79 million

CLOTHING retailer Edgars Stores Limited posted a profit of $3,79 million for the 52 weeks ending January 5 2013, due to the aggressive account drive, an official from the company has said.Last year ...

By Business reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

TSL in 'good shape' and expecting to deliver growth in F13

TSL is in a good shape and expects to begin to build on platforms it has established, CEO Washington Matsaira told the AGM.Purchases of contract tobacco at TSL Classic have commenced and the unit was...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Pastel launches its cloud based accounting programme for SMEs

Pastel Software Zimbabwe, in partnership with Utande, on Tuesday launched Sage Pastel My Business Online, a cloud based accounting programme designed for start-up and small businesses that enables th...

By Chengetai Chinembiri | Published: 10 June 2013

MINING & RETAIL

Chrome export ban to go

Government is planning to temporarily lift the ban on chrome ore exports and introduce a value addition levy on all exports to raise money for the expansion of the country's smelting capacity. Deput...

By Staff reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Mobile licence fees raised

The ministry of Transport will from June 30 2013, issue new 15 year licences under a Converged Licencing Framework at a fee of $180 million.Under the current framework, operators are only allowed t...

By Staff reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Powerspeed slows down sales to non-retail customers

Powerspeed has slowed down their sales to non-retail customers because of slow payments and the company now eyes further retail expansion, MD Hilton Macklin told the AGM this morning. "The pr...

By Business reporter | Published: 10 June 2013

LANDS & AGRICULTURE

CSC to breed 14 000 cows and 360 bulls

The Cold Storage Company will soon embark on a project to breed 14 000 cows and 360 bulls at its ranches countrywide, a Cabinet minister has said.In a report presented before a Parliamentary Portfol...

By Staff Reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Telecel introduces Broadband Plus with 100% bonus data

Telecel is now giving subscribers double the data they pay for when they buy data bundles worth $10 or more. It is also giving away 300 Mb of data and 30 text messages with its dongle, which now co...

By Matthews Estell | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet donates 4 700 solar lamps to charities

Econet Wireless last week donated 4 700 solar lamps to various charities to help alleviate the current electricity shortages affecting the country.Speaking at the handover ceremony of the lamps in H...

By staff Reporter | Published: 10 June 2013

TRANSPORT & TOURISM

Air Zimbabwe to acquire new aircraft from Brazilian company

STRUGGLING national airline Air Zimbabwe plans to acquire two new Embraer aircraft to service its domestic and regional routes as it seeks to turn around its fortunes, well-placed sources said this ...

By Business reporter | Published: 10 June 2013

LANDS & AGRICULTURE

Zimplow targets $100 million turnover by 2015

Zimplow Holdings Limited is targeting $100 million turnover by 2015 amid negotiations by the group with some financiers to provide tractors and other implements on an asset based finance scheme, gr...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Standard Chartered Bank committed to Bulawayo industry revival

STANDARD Chartered Bank Zimbabwe is committed to supporting the revival of industries in Bulawayo and will continue facilitating the development and growth of the economy, the bank's chairman, Mr Sa...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

Standard Bank says wants to keep majority of Stanbic

South Africa's Standard Bank wants to keep a majority stake in its Zimbabwean unit, its new joint chief executive said on Thursday, despite Harare's demand to hand control to local blacks.Zimbabwe i...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet to open an outlet in SA's Hillbrow

ECONET Wireless Zimbabwe is to extend its footprint into South Africa, with plans to open a new shop in Johannesburg to serve its Zimbabwean clients, BusinessDay reported.Econet's first shop in Sout...

By Staff reporter | Published: 10 June 2013

MINING & RETAIL

Zimplats will not abandon its operations in the country

ALEX Mhembere, CEO of Impala Platinum's (Implats') unit in Zimbabwe says Zimplats will not abandon its operations in the country despite the fresh waves of uncertainty the company is facing.Mhember...

By miningmx | Published: 10 June 2013

FINANCIAL SERVICES

Stanchart opens another branch in Bulawayo

Standard Chartered Bank has added a second branch in Bulawayo with officials saying the financial institution is playing its role in the industrial revival of the city. The bank plans to invest $10...

By Staff reporter | Published: 10 June 2013

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