MINING & RETAIL

Small-scale miners to get loans from Allied Bank

ZIMBABWE Artisanal and Small-Scale Miners Council (ZASMC) is finalising a deal with the Allied Bank on a loan scheme facility to fund operations of small-scale miners in the country.ZASMC president We...

FINANCIAL SERVICES

SA banks still profitable in Zimbabwe

Stanbic Bank, the Zimbabwe-based unit of Standard Bank Group, has remained profitable despite the challenging economic and banking environment it operates from.In its half-year to June 30 2013, Stanbi...

MINING & RETAIL

Wellesley-Wood to chair Mwana Africa

PAN African resources group Mwana Africa has appointed Mr Mark Wellesley-Wood as non executive chairman.He takes over from Mr Oliver Baring whose resignation was announced on Monday.Mwana said Mr Well...

INDUSTRIALS & ENERGY

Zesa warns of more load shedding

ZESA Holdings has warned Zimbabweans to brace for increased load shedding outside the published schedule as the Hydro Cabora Bassa (HCB) is undertaking maintenance on its plant.In a statement yesterda...

Zimpapers new printing press installation at advanced stage

Zimpapers chief executive Justin Mutasa said the installation of the $2.2 million fully automated Orient X-Cel printing press was at an advanced stage and would be ready for trial runs in two weeks. ...

INDUSTRIALS & ENERGY

Chinese firm plans $2.1 billion power plant for Zimbabwe

CHINA Africa Sunlight Energy said it plans to invest as much as $2.1 billion in Zimbabwe developing coal mines and building a 2,100-megawatt plant powered by the fuel to help ease electricity shortage...

FINANCIAL SERVICES

Metbank profit up 27%

METBANK'S after tax profit for the half-year period ended June 30, 2013 went up by about 27 percent to $1,9 million compared to the same period last year's figure of $1,5 million largely owing to a de...

FINANCIAL SERVICES

Stanchart profits down 10%

Standard Chartered Bank Zimbabwe Limited (StanChart)'s profit after tax slumped 10 percent to $7,2 million in the half year to June 2013, weighed down by a tough operating environment.The financial i...

INDUSTRIALS & ENERGY

Zera procures fuel quality testing machine

The Zimbabwe Energy Regulatory Authority has spent $400 000 on a new fuel quality testing mobile laboratory to protect consumers from substandard products after the introduction of mandatory blending ...

TELECOMS & TECHNOLOGY

NetOne slashes mobile broadband dongle price

NetOne, Zimbabwe's third largest mobile operator, last week announced via adverts in the press the reduction of its 3G broadband dongle from the previous $50 to $35. The announcement comes a whole 6 m...

FINANCIAL SERVICES

SA based group to set up investment bank in Zimbabwe

South African based company JM Busha Investments plans to set up an investment bank in the country.Group managing director Mr Joseph Makamba Busha told New Ziana that the company would be engaging rel...

FINANCIAL SERVICES

Old Mutual profits jumps 82%

OLD MUTUAL Investment Group Zimbabwe has recorded an 82% increase in after-tax profit to $1,4 million for the six months ended June 30 2013 compared to $763 000 during the comparative period last year...

INDUSTRIALS & ENERGY

AICO Africa issues a profit warning

Shareholders are advised that the level of production in cotton this year was much lower than prior years consequently the company will post a loss for the year to 31 March 2014 that is substantially...

FINANCIAL SERVICES

Dr Nkosana Moyo appointed director at Old Mutual Plc

Old Mutual plc has announced that Dr Nkosana Moyo has agreed to join its Board as an independent non-executive director with effect from 1 September 2013. He will also become a member of the Board Ri...

LANDS & AGRICULTURE

BAT named top southern African employer

British American Tobacco has been certified as a top employer in southern Africa by the Top Employers Institute. Based on independent research, the Top Employers Institute said British American Tobacc...

MINING & RETAIL

New Dawn shuts down Dalny mine in Zimbabwe

New Dawn Mining Corp announced that Falcon Gold Zimbabwe Limited, has shut down its 100% owned Dalny Mine located in Kadoma effective as of August 30, 2013.The Dalny Mine produced 1,949 ounces of gol...

TRANSPORT & TOURISM

Hospitality Association hails UNWTO indaba for boosting business

The Hospitality Association of Zimbabwe (HAZ) today said business was brisk during the United Nations World Tourism Organisation (UNWTO) general assembly with hotels recording above 90 percent occupan...

FINANCIAL SERVICES

Human capital skills a key focus area for NicozDiamond

From their presentation at the analyst briefing after announcing their half year results NicozDiamond managing director, Mrs Grace Muradzikwa said that retaining human capital skills was one of their ...

MINING & RETAIL

Mwana Africa executives take 50% pay cut

MWANA Africa Plc executives have agreed to a 50 percent pay cut as the pan-African multi-commodity mining company bids for $5 million in annual savings.The Alternative Investment Market listed mining ...

FINANCIAL SERVICES

NMB Bank exploring opportunities in the low LSM

NMB Bank Chief Executive James Mushore told an analyst briefing yesterday that his bank is going to explore growth opportunities in other market segments saying the journey might lead them to opportu...

LANDS & AGRICULTURE

SeedCo optimistic about the coming agric season

SeedCo Chief Executive Morgan Nzwere told the AGM yesterday that SeedCo is optimistic about the forthcoming agriculture season as they expect the new government to pursue pro-agriculture policies.&nbs...

FINANCIAL SERVICES

POSB reports a loss

THE People's Own Savings Bank (POSB) recorded a loss of $131 000 in operating profit in the first half of the year partly due to a drop in non- interest income and a decline in revenue reserves.Accor...

INDUSTRIALS & ENERGY

Zeco reports a $1.3 million loss

THE troubled Zimbabwe Engineering Company (Zeco) which is linked to flamboyant businessman Philip Chiyangwa recorded a depressing set of results for the financial year ended 2013. The depressing set ...

MINING & RETAIL

Meikles mulls acquiring gold, diamond mines

Meikles Centar Mining has cast acquisitive glances at Zimbabwe mining assets amid indications the company is planning to make a grand entrance onto the country's mining scene. A well-placed source sai...

FINANCIAL SERVICES

Stanbic profit up 23%

Earnings for the 6 months to June for Stanbic Bank - a member of South Africa-headquartered Standard Bank - were up 23% to $8 million driven by growth in net interest income. Fee and commission income...