INDUSTRIALS & ENERGY

Ingwebu seeks to expand its market base

INGWEBU Breweries, the Bulawayo City Council commercial undertaking, seeks to expand its market base within the next two years in a bid to supply at least four provinces countrywide with three of its ...

INDUSTRIALS & ENERGY

ART engaged in negotiations with potential suitors

ZSE-listed Amalgamated Regional Trading Limited (ART) is engaged in negotiations with potential suitors for funding to pay off its costly short-term debt.The talks come after initiatives to rope in a ...

INDUSTRIALS & ENERGY

Radar sales & profitability slightly improve

Radar Holdings Limited group CE Elias Hwenga told the AGM today that sales and profitability for the past 4 months are slightly ahead of where they were in the prior comparable period although they ar...

INDUSTRIALS & ENERGY

Lafarge branches into other businesses

Cement producer Lafarge Cement has started new business initiatives to complement the decline in cement demand on the local market, a company official said.Speaking on the sidelines of the official co...

INDUSTRIALS & ENERGY

KFC to open Harare outlet on 15 December

YUM! Restaurants International continues to expand the footprint of its Kentucky Fried Chicken (KFC) brand on the African continent.KFC will make a return to Zimbabwe with the opening of an outlet in...

INDUSTRIALS & ENERGY

'Consumer spend to remain constrained,' says Zireva

OK Zimbabwe CEO Willard Zireva told analysts yesterday that the liquidity crunch will worsen in the short term and business activity is not expected to improve for the remainder of the year as consum...

INDUSTRIALS & ENERGY

Border Timbers hit by liquidity crunch

Border Timbers' Deputy Chairman Heinrich von Pezold told the AGM this morning that Border is exporting product to regional markets to sidestep the effects of problems in its most profitable market, Zi...

TELECOMS & TECHNOLOGY

Astro Zim launches new range of smartphones

BETHEL Communications, a local mobile company trading as Astro Zimbabwe, has launched a new range of smartphones specifically designed to suit the local market.The company behind the Ibho range of And...

INDUSTRIALS & ENERGY

Interfresh seeking approval delist

INTERFRESH Limited is seeking shareholders approval to delist from the Zimbabwe Stock Exchange after it failed to raise $6 million from existing shareholders.In a notice for an extraordinary general m...

INDUSTRIALS & ENERGY

Cafca after-tax profit declines

Cafca reported a flat set of results showing a 3% growth in revenue on the back of reduced realizations per tonne due to increased sales of aluminium as opposed to copper as well as increase in expor...

FINANCIAL SERVICES

AfrAsia Kingdom release recapitalisation circular

AfrAsia Kingdom released a circular relating to its proposed recapitalisation by up to $100m through a Rights Offer and a Private Placement.An EGM of the company shall be at 100hrs on Friday 29 Novemb...

FINANCIAL SERVICES

Trust Bank fails to pay depositors

A LIQUIDITY crisis affecting the country's financial system began to bite yesterday after hundreds of Trust Bank depositors in Bulawayo failed to access their money.Some restless depositors - a majori...

FINANCIAL SERVICES

Kingdom Bank closing down its Beitbridge branch

KINGDOM BANK is closing its Beitbridge branch this month-end in a move likely to inconvenience hundreds of account holders amid a severe liquidity crunch rocking the country's fragile banking sector.I...

TRANSPORT & TOURISM

Investors tell Air Zimbabwe to sort out salary disputes

POTENTIAL foreign investors have demanded that embattled national airline Air Zimbabwe addresses its salary disputes with employees before entering a deal with them, Parliament was told on Monday.This...

MINING & RETAIL

KP welcomes lifting of sanctions on ZMDC

The outgoing Kimberley Process (KP) chairperson, Ambassador Welile Nhlapo has commended the European Union (EU) for lifting sanctions on the Zimbabwe Mining Development Corporation (ZMDC) and has chal...

INDUSTRIALS & ENERGY

OK earnings decline

OK Zimbabwe grew its revenue by 5.4% to $243.6 million from $231.2 million for the half year ended 30 September 2013. Earnings per share declined to 0.43 cents from 0.47 cents in prior year.Prot bef...

MINING & RETAIL

Gomwe pleads with banks to back coal

JOHANNESBURG - Development banks must help developing countries to use their coal in the cleanest possible way rather than starve them of funding, World Coal Association energy and climate committee c...

Court stops compulsory acquisition of CFI land

The Labour Court has stopped the government from compulsorily acquiring over 1000 hectares of land belonging to Crest Breeders International.In a judgement handed down by Labour Court President, Justi...

FINANCIAL SERVICES

Man sues Barclays Bank over blacklisting

A Harare businessman, who was wrongly blacklisted in the banking sector for 14 years as a bad debtor, has taken Barclays Bank of Zimbabwe to the High Court claiming damages for defamation and loss of...

INDUSTRIALS & ENERGY

Afdis in bid to raise $5 million

Spirits brewer African Distillers said on Monday it intends to raise $5 million through a rights offer of over 15 million shares.The Zimbabwe Stock Exchange listed company said the funds would be inve...

INDUSTRIALS & ENERGY

TN Harlequin in major shutdown

FURNITURE retailer TN Harlequin is set to close down most of its factories and significantly reduce its workforce as the company respond to massive decline in demand for its products.Chief executive o...

INDUSTRIALS & ENERGY

PPC records double digit sales growth in Zim

PPC, the largest cement maker in South Africa, said full-year profit climbed 10% after sales increased in its home market and neighbouring Zimbabwe.Cement sales in Zimbabwe recorded double-digit growt...

FINANCIAL SERVICES

AfrAsia wins prestigious award

AFRASIA Bank Limited has won the Best Private Bank in Mauritius award at the Global Private Banking Awards recently held in Geneva.The awards were presented by Professional Wealth Management and The ...

MINING & RETAIL

Bindura Nickel Corp overcomes financial woes

BINDURA Nickel Corporation may now be looking ahead to developing and maximising returns from its Hunters Road resource, smelting and refinery assets after eventually overcoming its financial woes fol...

MINING & RETAIL

Zim aims to be among top 5 gold producers

Zimbabwe is targeting to become one of the top five gold producing countries in Africa within the next three years, a Cabinet minister has said.Zimbabwe's gold sector is slowly recovering after decli...