FINANCIAL SERVICES

Zim bankers engage RBZ on interest rates

Local banks have engaged the Reserve Bank of Zimbabwe amid indications that the current memorandum of agreement putting a cap on bank charges and interest rates may soon be reviewed after banks repor...

By Staff reporter | Published: 31 October 2013

TELECOMS & TECHNOLOGY

Econet to diversify revenue streams

ECONET Wireless Zimbabwe says it will focus more on exploring new innovative services that offer added convenience and value to customers to boost revenue, earnings and ensure sustainable business gro...

By Business Reporter | Published: 31 October 2013

MINING & RETAIL

Hwange in quandary

ECONOMIC analysts have expressed reservations on the proposed $50 million rescue package for Hwange Colliery by British mogul Mr Nicholas van Hoogstraten, saying this could be tantamount to handing o...

By Staff reporter | Published: 31 October 2013

TELECOMS & TECHNOLOGY

'Telecel Business to reduce phone bills by 80%'

Telecel today (Wednesday) announced the introduction of a special product for businesses and other organisations, Telecel Business, which it estimates could reduce their phone bills by as much as 8...

By Michael Hamilton | Published: 30 October 2013

TELECOMS & TECHNOLOGY

Zim software manufacturing company launched

A new software manufacturing company, Logicode Private Limited was officially launched in the Harare yesterday.The company has however been in existence for more than two years with a goal dream of tr...

By Staff reporter | Published: 30 October 2013

INDUSTRIALS & ENERGY

Talks with potential Olivine investor collapse

Talks between the Industrial Development Corporation (IDC) and a potential investor that it was courting to recapitalise its fast moving consumer goods (FMCG) manufacturing subsidiary Olivine Industri...

By New Ziana | Published: 30 October 2013

FINANCIAL SERVICES

Interfin finds potential investors

Interfin Financial Services (IFS) is talking to at least three potential investors that are interested in bailing out its troubled banking subsidiary.IFS is the holding company of Interfin Bank, which...

By Staff reporter | Published: 30 October 2013

FINANCIAL SERVICES

Zim fund named best Africa specialist fund

The Africa-wide investment credentials of the Imara Group have been showcased by the award-winning performance of three of the asset management company's leading equity funds among them the Imara Zim...

By Staff reporter | Published: 30 October 2013

MINING & RETAIL

Botswana's Choppies moves into Bulawayo

LOCAL mogul Raji Modi has sold off his entire stake in Sai Enterprises (Pvt) Ltd, paving the way for the entry into the Zimbabwe retail sector of Botswana's biggest retail outlet, Choppies Enterprise ...

By Staff reporter | Published: 30 October 2013

MINING & RETAIL

Zim invites prospective diamond cutters, polishers

Government is inviting prospective diamond cutting and polishing firms to add value to Zimbabwe's gems before exporting."Already we have firms with equipment and manpower to undertake that mandate of ...

By Staff reporter | Published: 30 October 2013

FINANCIAL SERVICES

Interfin still pursuing loan recovery initiatives

Interfin published an update saying the capitalisation and loan recovery initiatives for the bank are still being pursued while the holding company remains suspended from the ZSE until the resuscitati...

By Staff reporter | Published: 30 October 2013

TELECOMS & TECHNOLOGY

EcoCash Save accounts reach 500 000

ZIMBABWE'S largest mobile phone operator Econet Wireless Zimbabwe has said its subsidiary Steward Bank now has 500 000 registered account holders on its recently launched mobile banking product EcoCas...

By Staff reporter | Published: 30 October 2013

FINANCIAL SERVICES

Liquidity constraints affect mortgage financing

ZIMBABWE'S largest mortgage lender CABS has channelled $112 million into housing development over the last three years as liquidity constraints continue to bite the economy, the company has said.CABS...

By Staff reporter | Published: 30 October 2013

TRANSPORT & TOURISM

Meikles experience increased occupancy

Listed Meikles Limited says its five-star Meikles Hotel has experienced increased occupancy following the completion of a $8,5 million refurbishment.However, the group could not disclose the figures a...

By Staff reporter | Published: 30 October 2013

MINING & RETAIL

Chinese firm invests in chrome smelter

A Chinese company, Afrochine Smelting (Pvt) Limited, is building a $25 million chrome smelter in Selous near Chegutu that will see the country processing its chrome ore locally.The smelter, nearing co...

By Staff reporter | Published: 30 October 2013

TELECOMS & TECHNOLOGY

Econet revenue rise by 11%

Zimbabwe's telecoms giant, Econet, reported another set of mixed interim results showing solid 11% year on year topline growth but muted attributable income, down 10% year on year to $70.5m for eps of...

By Staff reporter | Published: 29 October 2013

TELECOMS & TECHNOLOGY

New services begin to drive Econet growth

New services such as EcoCash, broadband, and EcoFarmer have begun to drive Econet Wireless Zimbabwe’s growth as its traditional voice revenues are maturing.Speaking at the presentation of the half y...

By Staff reporter | Published: 29 October 2013

LANDS & AGRICULTURE

SeedCo to retire debt

SEED Co Limited will raise enough funds to retire at least 17 percent of its debt from the sale of part of its stake to US seed firm Vilmorin Cie, financial analysts IH Securities have said.Zimbabwe's...

By Staff reporter | Published: 29 October 2013

LANDS & AGRICULTURE

ZADT disburses $11 million

The Zimbabwe Agricultural Development Trust (ZADT) has so far disbursed at least $11,5 million to 109 intermediary agricultural value chain actors under its CREATE fund, an official said on Monday.A G...

By New Ziana | Published: 29 October 2013

TRANSPORT & TOURISM

Aviation Ground Services wins awards

AVIATION Ground Services has won two prestigious awards for excellence in provision of aircraft and cargo handling services in southern Africa and the entire African continent.AGS, a private local fir...

By Staff reporter | Published: 29 October 2013

TRANSPORT & TOURISM

Tourists flood Victoria Falls

THE DEVASTATING terrorist attack in Kenya on September 21 has boosted tourist arrivals in Zimbabwe with the country's leading tourist resort, Victoria Falls, enjoying an increase in visitors.Westgate ...

By Staff reporter | Published: 29 October 2013

MINING & RETAIL

Essar finds a breakthrough to Zim stalemate

INDIAN diversified group, Essar Holdings, may have found a breakthrough to its stalemate with the Zimbabwean government over the resuscitation of New Zim Steel, a Zimbabwean steel producing project it...

By Staff reporter | Published: 29 October 2013

MINING & RETAIL

Angola's Catoca to explore for diamonds in Zim

Angola's Catoca, one of the world's largest diamond producers, expects to start exploring two fields in nearby Zimbabwe next year following a mining agreement signed between the two countries on Mon...

By AFP | Published: 29 October 2013

INDUSTRIALS & ENERGY

Natfoods profitability soars 29%

NATIONAL Foods Holdings Limited has registered a 29 percent compounded annual growth in underlying profit before tax over the last five years due, it believes, to the strength of its strategies and a ...

By Business Reporter | Published: 29 October 2013

MINING & RETAIL

Freda fires 25 workers for going on strike

GURUS Holdings has fired about 25 employees who went on an illegal strike at its Freda Gold Mine in Gwanda District last week following a salary payment dispute.In an interview on Friday, Gurus Holdi...

By Staff reporter | Published: 29 October 2013

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