FINANCIAL SERVICES

MBCA sees opportunity after elections

MBCA Bank, a unit of South Africa's Nedbank, has positioned itself to take advantage of opportunities that may be presented by the political and economic environment after the harmonised elections.Ba...

FINANCIAL SERVICES

Foreign investor snaps CBZ shares

A cash-rich Malaysian-based private equity fund has snapped more than a tenth of CBZ issued shares in a special bargain deal worth $8.3 million. Close sources said Safari Quantum bought 55.67 million...

TRANSPORT & TOURISM

Meikles secures long-term funding

MEIKLES Limited has secured funding for its capital projects as it reported strong interims for the period ended June 30 with most divisions showing growth. "The group has secured long term funding f...

TELECOMS & TECHNOLOGY

Econet slashes cost of calls by 60%

MOBILE telecommunications giant Econet Wireless says it has slashed the cost of calls to other mobile phone operators' networks by 60 percent in what seems a direct reaction to growing competition.Ec...

MINING & RETAIL

New Dawn mulls selling 2 mines

Toronto Stock Exchange-listed New Dawn Mining is considering disposing of 2 of its 5 mines in Zimbabwe as part of efforts to raise additional capital. This comes as the Zimbabwe focused gold miner's ...

FINANCIAL SERVICES

Old Mutual sees growth in Africa

Old Mutual plc is consolidating its foothold in Africa as it seeks to leverage on growing opportunities emerging from the continent. The group, which recorded a robust operational performance in the...

TRANSPORT & TOURISM

Meikles to lay off 55 workers

Meikles Stores says it will lay off 55 workers in Harare and Gweru as the retail giant continues making losses since the advent of dollarisation four years ago. But the process could run into problem...

LANDS & AGRICULTURE

Zimbabwe sold tobacco worth $609 million

Tobacco growers have earned US$609 million from the sale of 165,5 million kg flue cured tobacco with the contract floors selling more than double the volume of tobacco sold through the auction floors....

MINING & RETAIL

Freda Rebecca leach tank 3-rebuild back online

THE tank 3-rebuild programme at Freda Rebecca is now complete paving the way for an increase in production.The tank sustained damages in a leach tank incident that occurred in February.According to Mw...

INDUSTRIALS & ENERGY

Meikles, RBZ discussion on funds held on deposit at advanced stage

Progress has been made in getting better terms on the Meikles funds held on deposit with the RBZ, according a Meikles interim management report published today. "The discussions are nearing concl...

INDUSTRIALS & ENERGY

Zimbabwe firm in JV with Swiss company

A Zimbabwe-based firm, Oxygen Group, with interests in venture partnerships and business advisory, has partnered a Swiss company Meeco Group to promote and develop the use of solar energy in the count...

FINANCIAL SERVICES

Competition and Tariffs Commission approves Aon deal

The Competition and Tariffs Commission has approved the acquisition of Aon Holdings Limited majority stake by Masawara Mauritius Limited. Masawara is a diversified investment company with direct inter...

MINING & RETAIL

Blanket mine output to exceed target

CALEDONIA Mining Corporation, which is listed on the Toronto Stock Exchange, expects Blanket Mine to exceed targeted annual gold output by 10 percent after production in the second quarter came in ah...

LANDS & AGRICULTURE

Agritex, Tobacco Research Board to collaborate

The Tobacco Research Board has engaged Agritex in training farmers on the important aspects of tobacco production.This is meant to improve the quality of the tobacco produced by farmers so that it sui...

BancABC share unmoved by bank's performance

DESPITE reporting strong interims for the period ending June 30 and bright future prospects, ABC Holdings' performance has not been reflected by the company's shares, analysts have said.Analysts who s...

MINING & RETAIL

Russian firm buys into Zimbabwe platinum field

A group of companies which includes state-owned Rostec and Vneshekonombank is buying a 40% stake in a project to develop the world's second largest platinum field in Zimbabwe. The consortium will inv...

MINING & RETAIL

Zim denies signing secret uranium deal

 Mines Minister Obert Mpofu on Saturday denied reports in a British newspaper that it had signed a secret uranium trade deal with Iran. The Times of London had reported quoting deputy minister Gi...

MINING & RETAIL

Bindura Nickel Corp capital hunt on course

Bindura Nickel Corporation has said its plans to raise a $5 million debt funding to finance Trojan Mine are on course despite liquidity constraints on the market.The mining concern in a statement yest...

INDUSTRIALS & ENERGY

Chisumbanje ethanol plant gets licence

Chisumbanje Ethanol Project received the ethanol production licence that will provide off take in production.Basil Nyabadza, Arda board chairman said that Zera issued the licence early last week and t...

TELECOMS & TECHNOLOGY

Cambria completes Celsys exit

CAMBRIA Africa Plc has completed its exit from Zimbabwe Stock Exchange listed Celsys Limited in what also resulted in still birth to its plans to make a secondary listing on the local bourse. Certain ...

FINANCIAL SERVICES

Banks to reduce charges on deposits

Banks have resolved to reduce charges on deposits in line with a Reserve Bank of Zimbabwe directive to increase savings in the economy, several half-year financial statements have revealed.This comes ...

MINING & RETAIL

Zimbabwe scouts for diamond cutting, polishing partners

The Minerals Marketing Corporation of Zimbabwe is still scouting for partners to set up diamond cutting and polishing firms in the country.The MMCZ announced early this year that it had engaged severa...

LANDS & AGRICULTURE

Chemco Holdings mulls ZSE re-listing

Agro-chemicals manufacturer and distributor Chemco Holdings Limited (Chemco) plans to re-list on the Zimbabwe Stock Exchange (ZSE).The group was suspended from the bourse in August last year."The boar...

LANDS & AGRICULTURE

Dairiboard takes Buscod to court over $5 000 debt

DAIRIBORD Zimbabwe has dragged to court the now defunct Buscod Supermarket for failing to pay close to $5 000 being money for goods it bought on credit.Buscod Supermarket, a subsidiary of Humble Tradi...

TELECOMS & TECHNOLOGY

Telecel to be indigenised by month end

TELECEL International, the Egyptian controlling shareholder in Telecel Zimbabwe, has committed to addressing its lopsided shareholding in the mobile phone operator by the end of this month in what wil...