FINANCIAL SERVICES

NMB Bank assists orphans in Dzivarasekwa

NMB Bank last week handed over food items and cooking pots to the Dzikwa Trust, a charitable organisation in Harare's Dzivarasekwa suburb that assists and empowers orphans and vulnerable children from...

By Agencies | Published: 03 July 2018

FINANCIAL SERVICES

NMB Bank sources $15m for exporters

NMB Bank has a $15 million four-year line of credit facility available to exporters, NMB chief executive Ben Washaya told exporters attending a breakfast meeting the bank held for them on Friday last ...

By Agencies | Published: 03 July 2018

FINANCIAL SERVICES

Agribank secures $10m for agric

AGRIBANK has secured $10 million from the Egypt-based African Export-Import Bank (Afreximbank), which will be channelled towards capacitating agricultural exporters and value addition.The bank's chief...

By Staff reporter | Published: 03 July 2018

TRANSPORT & TOURISM

African Sun appoints new board chair

AFRICAN Sun Limited has appointed Mr Alex Makamure as new board chairman replacing Mr Herbert Nkala who has retired from the hospitality group.In a notice, African Sun said Mr Nkala retired from the g...

By Staff reporter | Published: 03 July 2018

FINANCIAL SERVICES

IDBZ opens new office in Bulawayo

THE Infrastructure Development Bank of Zimbabwe (IDBZ) yesterday officially commissioned its southern regional office in Bulawayo, positioning itself to adequately steer infrastructure projects across...

By Staff reporter | Published: 03 July 2018

MINING & RETAIL

Govt, Chinese investor renegotiate Kamativi deal

GOVERNMENT and Chinese investor Beijing Pinchang, who had earlier expressed interest in reviving Kamativi Tin Mine, are engaged in discussions on whether to renegotiate the deal or terminate it. In an...

By Staff reporter | Published: 03 July 2018

FINANCIAL SERVICES

Council rescinds housing deal with NBS

Harare City Council has rescinded its decision to enter into partnership with the National Building Society (NBS) to develop over 300 residential stands for low-income earners after council accused th...

By Staff reporter | Published: 03 July 2018

FINANCIAL SERVICES

Nicoz minorities approve buy out

Shareholders of Zimbabwe Stock Exchange (ZSE) listed short-term insurer NicozDiamond Insurance Limited (NDIL) have approved a proposal for a scheme of arrangement which will see First Mutual Holdings ...

By Staff reporter | Published: 03 July 2018

INDUSTRIALS & ENERGY

NTS recovers, back in black

National Tyre Services Limited (NTS) profit for the year to March 30, 2018 jumped 175 percent to $117 851 from a loss position of $153 919. NTS attributed the growth to the company's strategy to suppl...

By Staff reporter | Published: 03 July 2018

INDUSTRIALS & ENERGY

Starafrica eyes profitability

Struggling sugar producer Starafricacorporation (Starafrica) is eyeing a return to profitability in the near future after reducing its losses by more $2 million.The group's chairperson Joel Mutizwa sa...

By Staff reporter | Published: 02 July 2018

MINING & RETAIL

Falgold narrows loss

Zimbabwe Stock Exchange-listed gold producer, Falcon Gold (Falgold), has narrowed its losses to $1,68 million in the half year to March 31, 2018 compared to $2,4 million in the same period last year.H...

By Staff reporter | Published: 02 July 2018

FINANCIAL SERVICES

Buy from registered firms: Ipec

The Insurance Pensions Commission (Ipec) has urged the public to buy insurance products from regulated insurance institutions amid rising incidences of fake policies.Addressing members of the public a...

By Staff reporter | Published: 02 July 2018

TELECOMS & TECHNOLOGY

TelOne narrows loss to $7m in FY17

TELONE has narrowed its operating losses by 42% to $7 million in 2017, owing to cost containment and a growth in broadband revenue.In 2016, the company made a loss of $12 million.In a statement last F...

By Staff reporter | Published: 02 July 2018

TELECOMS & TECHNOLOGY

Mobile phone network operators slash data tariffs

MOBILE Network Operators (MNOs) have slashed mobile data tariffs from 12,5 cents to five cents per megabyte in compliance with a Postal and Telecommunications Regulatory Authority of Zimbabwe directiv...

By Staff reporter | Published: 02 July 2018

INDUSTRIALS & ENERGY

Govt forms new power company

GOVERNMENT has formed a new company, Hwange Electricity Supply Company (Hesco), to manage power generation under the $1,5 billion Hwange Thermal Power Station expansion project.Energy and Power Develo...

By Staff reporter | Published: 02 July 2018

MINING & RETAIL

Barcelos spends $250k on Bulawayo restaurant

RENOWNED international restaurant, Barcelos, has invested close to $250 000 in setting up its first shop in Bulawayo.The 100-seater restaurant, which is best known for its periperi chicken, will be si...

By Staff reporter | Published: 02 July 2018

MINING & RETAIL

Choppies opens 33rd branch

RETAIL chain Choppies Zimbabwe on Friday opened its 18th branch in Bulawayo, bringing to 33 the number of branches it now runs across the country.The new branch was opened at Parklands Shopping Centre...

By Staff reporter | Published: 02 July 2018

FINANCIAL SERVICES

Agribank posts $2,9m profit

AGRIBANK has recorded a profit of $2,9 million in the first five months of the year to May 31, 2018, a move that thrusts the agriculture financing institution on a path to more profits by year end.The...

By Staff reporter | Published: 02 July 2018

TELECOMS & TECHNOLOGY

TelOne accused of double dipping

Government has rapped TelOne for allegedly demanding money from schools for the provision of Internet services, yet the company was already benefiting from a grant availed by the State for the same pr...

By Staff reporter | Published: 02 July 2018

TELECOMS & TECHNOLOGY

Econet steps up Kwese iflix roll out

Econet Wireless has literally thrown all men forward and mounted an all-out attack on the market to ensure it wins an early victory in the video-on-demand game with Kwese iflix.Last Friday the company...

By Staff reporter | Published: 30 June 2018

TRANSPORT & TOURISM

CEO reassures all fastjet passengers

Fastjet - the budget African airline founded by Stelios Haji-Ioannou - reassuring all fastjet passengers, the travel industry and our partners that the company will continue to operate in a state of '...

By Staff reporter | Published: 30 June 2018

MINING & RETAIL

Chinese firm loses Zim diamonds court battle

Chinese firm Anjin Investments (Private) Limited (Anjin) has lost a Constitutional Court application in which it sought the nullification of a 2016 government directive expelling it from the diamond-r...

By Staff reporter | Published: 30 June 2018

TRANSPORT & TOURISM

$2,5 million upgrade for Cresta Oasis

Cresta Hotels is undertaking a $2,5 million refurbishment of Cresta Oasis Hotel and Apartments in Harare, gearing for an expected increase in local and international business in coming months and year...

By Staff reporter | Published: 30 June 2018

INDUSTRIALS & ENERGY

Lonmin sale its Zimbabwe business

Lonmin Plc has entered into a conditional Sale of Shares Agreement to sell its 50% interest in Petrozim Line for a gross cash consideration of $14,750,000 to the National Oil Infrastructure Company of...

By Ngoni Shenjere | Published: 29 June 2018

FINANCIAL SERVICES

Old Mutual to dispose of 34% Nedbank stake

London-based Old Mutual Plc (OMP) is set to dispose of a 34,1% of its 54% equity stake in Nedbank to come down to 19,9% in the next six months after its managed separation strategy this week.Nedbank, ...

By Staff reporter | Published: 29 June 2018
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