FINANCIAL SERVICES

Insurance uptake high - Ipec

THE Insurance and Pensions Commission (Ipec) says Zimbabwe's insurance penetration rate is much higher than the figures reported by PricewaterhouseCoopers (PwC), which ranked the industry fifth in Afr...

By Staff reporter | Published: 09 September 2018

MINING & RETAIL

Investors want proof

There are plenty of new and dormant coal projects in Zimbabwe, which can help improve the economy, says senior coal analyst Xavier Prévost.Zimbabwe has abundant coal resources of a high quality, as s...

By Mining Weekly | Published: 09 September 2018

TRANSPORT & TOURISM

Low uptake for tourism fund

THE $15 million Tourism Revival Fund facility availed by the Reserve Bank of Zimbabwe (RBZ) to prop up the collapsing industry has been lying idle for about seven months with only three industry's pla...

By Staff reporter | Published: 09 September 2018

MINING & RETAIL

Bilboes seeks to expand operations

A LOCAL privately-owned gold mining and exploration concern, Bilboes Holdings is seeking to expand its operations as it moves to ramp up its mineral production.Bilboes Holdings chief executive officer...

By Staff reporter | Published: 09 September 2018

MINING & RETAIL

Gold deliveries peak 24 tonnes in 7 months

THE country is poised to achieve its 30 tonnes gold production target for this year buoyed by the continued increase in deliveries of the yellow metal to Fidelity Printers and Refiners (FPR) by small-...

By Staff reporter | Published: 09 September 2018

FINANCIAL SERVICES

POSB to establish exporters' credit facility

The People's Own Savings Bank (POSB) says it will soon unveil a $10 million line of credit aimed at assisting exporters to secure foreign currency.A persistent trade deficit has plunged Zimbabwe into ...

By Staff reporter | Published: 07 September 2018

TRANSPORT & TOURISM

ZTA wants to restore Bulawayo's tourism legacy

ZIMBABWE Tourism Authority (ZTA)'s chief executive Karikoga Kaseke yesterday said they were committed to restoring Bulawayo's tourism legacy.Addressing a media briefing, Kaseke said they were going to...

By Staff reporter | Published: 07 September 2018

TRANSPORT & TOURISM

Panners pose threat to NRZ tracks

THE National Railways of Zimbabwe (NRZ) has raised the red flag over illegal gold panning activities close to railways tracks, a situation which could result in the rail collapsing under the weight of...

By Staff reporter | Published: 07 September 2018

MINING & RETAIL

Global platinum market headed for surplus

The global platinum market will end the year in a surplus of 295 000 ounces as both supply, from main producers Zimbabwe, South Africa and Russia, and demand for the metal will fall by 2 percent, the ...

By Staff reporter | Published: 07 September 2018

MINING & RETAIL

Zimbabwe to commence diesel production

Zimbabwe will soon start the production of diesel, leveraging on massive coal bed methane the country is endowed with in line with the ethos of mineral value addition, Post Business has reported.Coal ...

By Staff reporter | Published: 07 September 2018

MINING & RETAIL

Debts push Metallon Corporation to the brink

PROPERTY belonging to Zimbabwe's largest gold producer, Metallon Corporation, will be auctioned by the High Court to recover an estimated US$30 million owed to various creditors and workers, as the mi...

By Staff reporter | Published: 07 September 2018

FINANCIAL SERVICES

CBZ not worried by OFAC penalty

Financial services group CBZ Holdings, says the outcome of ongoing investigations by the US Treasury Department's Office of Foreign Assets Control (OFAC) regarding historical transactions involving a ...

By Staff reporter | Published: 07 September 2018

MINING & RETAIL

'Coal-bed methane exploitation to reduce AN costs'

The cost of Ammonium Nitrate (AN) fertiliser, which is largely on the upper side in the country mainly due to high costs of the major component, ammonia, is set to come down once coal - bed methane ga...

By Staff reporter | Published: 07 September 2018

LANDS & AGRICULTURE

Nestle backs Zimbabwe coffee farmers

The Swiss food multi-national Nestle is investing $1.25m (£1m) in Zimbabwe to help revive its coffee industry, news agency Bloomberg reports.It is set to buy nearly all the coffee produced by the cou...

By BBC | Published: 06 September 2018

MINING & RETAIL

Zim retailers concerned with rampant smuggling

THE confederation of Zimbabwe Retailers (CZR) says it is concerned with the rampant smuggling of goods, which has become a threat to the country's industrialisation process.Denford Mutashu, the confed...

By Staff reporter | Published: 06 September 2018

TRANSPORT & TOURISM

Tourism recovery drives Dawn revenue

DAWN Properties Limited (Dawn) revenue from hotel property leases went up 30,6 percent to $1,52 million during the six months ended June 30, 2018 on the back of increased occupancy at the hotels as de...

By Staff reporter | Published: 06 September 2018

FINANCIAL SERVICES

Zimbabwe banks opt for investment securities

ZIMBABWEAN banks are slowly increasing capital allocation towards investment securities after controlled lending rates put pressure on the sector's profits in the half year to June 2018, The Financial...

By Staff reporter | Published: 06 September 2018

FINANCIAL SERVICES

Agribank close to securing a strategic partner

Agribank recorded a profit after tax of $4,1 million for the half year to June 30, 2018 compared to $2,2 million recorded last year.THE Agriculture Development Bank of Zimbabwe (Agribank) says it is c...

By Staff reporter | Published: 06 September 2018

FINANCIAL SERVICES

Metbank opens exporters' hubs

METBANK has opened an exporters' hub in Harare aimed at stimulating the country's economic growth through increased production.This was after the bank had earlier in the year signed agreements with th...

By Staff reporter | Published: 06 September 2018

MINING & RETAIL

New mining status costs Zimplats

ZIMPLATS, the country's largest platinum miner, says its profits declined by 94 percent in the year to June 2018 after the company changed its status from a special mining lease (SML) holder to mining...

By Staff repporter | Published: 06 September 2018

MINING & RETAIL

Aurex doubles exports

AUREX Holdings (Aurex) has doubled its jewellery exports after inking international marketing agreements with companies such as Suzan General Trading (Suzan), officials say.This also comes as the firm...

By Staff reporter | Published: 06 September 2018

MINING & RETAIL

Edgars engaged in discussions that may impact share value

EDGARS Stores (Edgars) says it is engaged in discussions with an unnamed investor in a deal that may impact value of the company's shares.Buhlebenkosi Mpofu, the clothing retailer' company secretary, ...

By Staff reporter | Published: 06 September 2018

TRANSPORT & TOURISM

Govt urged to promote domestic tourism

GOVERNMENT has been urged to promote domestic tourism through a number of innovative initiatives, including concessionary support measures to low-wage earners.Speaking during the Professionals Busines...

By Staff reporter | Published: 06 September 2018

LANDS & AGRICULTURE

NRZ sues GMB over $710,000 rental arrears

NATIONAL Railways of Zimbabwe (NRZ) has petitioned the High Court seeking an order to compel the Grain Marketing Board (GMB) to pay $710 696 in rental arrears and another order to evict the parastatal...

By Staff reporter | Published: 06 September 2018

INDUSTRIALS & ENERGY

Fuel shortage rocks Zimbabwe

ZIMBABWE'S economic challenges continue to mount with key towns, Beitbridge and Victoria Falls, running out of fuel.The fuel shortage comes at a time the country is facing a wave of price increases, w...

By Staff reporter | Published: 06 September 2018
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