BUSINESS NEWS

URL listing to depend on economy outlook, says Moyo

A PLANNED initial public offering of United Refineries Ltd (URL) will depend on the economic climate, CE Busisa Moyo says.URL this year moved to strengthen its balance sheet by inviting pension funds ...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Cambria Africa expects savings of US$400 000

CAMBRIA Africa Plc expects savings of about US$400 000 in the current financial year in company compensation thanks to a recently completed re-organisation of the group, a company official said.Cambri...

By Staff reporter | Published: 07 December 2018

INDUSTRIALS & ENERGY

TSL wards off $21,4m executive share issue

TSL Ltd moved to avert a potentially explosive showdown at an extraordinary general meeting (EGM), which was scheduled for this week, to consider a proposal that would have seen the issuance of new sh...

By Staff reporter | Published: 07 December 2018

FINANCIAL SERVICES

GetBucks cautious on mortgage loans

GetBucks Microfinance Bank CE Terrence Mudangwe says the financial institution is treading cautiously in the issuance of mortgage loans, given the nature of its assets on the market, but is leveraging...

By Staff reporter | Published: 07 December 2018

MINING & RETAIL

Bindura smelter project put on hold

PAYMENT for a bond which was floated a few years ago for the restart of a smelter by Bindura Nickel Corporation (BNC) is weighing down on the company's capital requirements after it spent US$5 million...

By Staff reporter | Published: 07 December 2018

INDUSTRIALS & ENERGY

'Zimbabwe runs out of fuel'

ZIMBABWE Energy Regulatory Authority (Zera) acting chief executive officer Eddington Mazambani yesterday revealed to Parliament that the country had exhausted the $60 million worth of fuel imported la...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Works begin on Hwange units 7, 8

HWANGE Power Station units 7 and 8 expansion project, launched by President Mnangagwa at the beginning of August this year, has commenced with a number of civil works now underway. The project will co...

By Staff reporter | Published: 07 December 2018

LANDS & AGRICULTURE

Over 19 000ha tobacco planted

At least 19 265 hectares of land  have so far been put under tobacco during the 2018 /19 summer cropping  season, up from 18 396 hectares that had been planted during the same period last ye...

By Staff reporter | Published: 07 December 2018

MINING & RETAIL

Forex shortages, inflation weigh on Innscor

Diversified Industrial group, Innscor Africa Limited says gross profit margins during the first quarter of the 2019 financial year remained under pressure due to foreign currency and inflationary pres...

By Staff reporter | Published: 06 December 2018

INDUSTRIALS & ENERGY

Pacific Cigarette Company partners Chinese firm

Pacific Cigarette Company (PCC), formerly Savannah Tobacco Company, has partnered a top Chinese government-owned tobacco company in a move that will see local cigarettes being sold on the global marke...

By Staff reporter | Published: 06 December 2018

MINING & RETAIL

Gold deliveries slump 44%

SMALL-scale miners have called on Government to consider paying 100 percent of gold deliveries in hard currency after deliveries to Fidelity Printers and Refineries (FPR) for November plummeted by 44 ...

By Staff reporter | Published: 06 December 2018

INDUSTRIALS & ENERGY

Fair valuation boosts Seed Co profit

SEED CO posted a $69,03 million profit after tax for the half-year ended September 30, 2018 following a fair valuation of its subsidiary, Seed Co International Limited.The fair valuation was undertake...

By Staff reporter | Published: 05 December 2018

TRANSPORT & TOURISM

Zimbabwe hotel occupancy up 60% in 10 months

ZIMBABWE'S hotel occupancy level grew to 61% in the 10 months to October compared to 59% during the same period last year, with industry officials attributing the trend to government's stance on impro...

By Staff reporter | Published: 05 December 2018

INDUSTRIALS & ENERGY

National Foods switches off wheat milling machines

ONE of the biggest millers in the country, National Foods Limited (NFL) says it will today switch off its wheat milling machines, citing non-payment of its foreign suppliers, with the country facing p...

By Staff reporter | Published: 05 December 2018

INDUSTRIALS & ENERGY

Datlabs embarks on $4,5m upgrade

PHARMACEUTICAL and personal care products manufacturer, Datlabs Limited, has embarked on a $4,5 million plant and equipment upgrade as it seeks to improve operational efficiency. Briefing Industry and...

By Staff reporter | Published: 05 December 2018

FINANCIAL SERVICES

CABS introduces prepaid MasterCard

THE Central Africa Building Society (CABS) has introduced a prepaid MasterCard as part of efforts to bring international transactional convenience to the market. Managing director, Simon Hammond, said...

By Staff reporter | Published: 05 December 2018

MINING & RETAIL

Puma Energy partners Chicken Hut

FAST food outlet, Chicken Hut has entered into a partnership deal with Puma Energy that will see the food outlet open outlets at every Puma service station across the country. The deal will see more t...

By Staff reporter | Published: 05 December 2018

FINANCIAL SERVICES

Zimnat introduces hard currency payment option

Zimnat General Insurance has introduced a hard currency insurance payment option to enable its clients to retain the value of their insured assets in the event of their sustaining a loss and making an...

By Staff reporter | Published: 05 December 2018

INDUSTRIALS & ENERGY

Seed Co in tax avoidance dispute

Zimbabwe's special court for income tax appeal has dismissed with costs a long list of preliminary points made by Zimbabwe Stock Exchange-listed seed manufacturer Seed Co Limited (Seed Co) in its appe...

By Staff reporter | Published: 04 December 2018

MINING & RETAIL

Van Hoogstraten opens up on Hwange Colliery

BRITISH businessman Nicholas van Hoogstraten yesterday opened up to journalists on the demise of Hwange Colliery Company Limited, saying it was being run down by corruption and financial mismanagement...

By Staff reporter | Published: 04 December 2018

BUSINESS NEWS

Zimbabwe can fix corruption scourge, says Munyeza

Prominent businessman Shingi Munyeza says Zimbabwe has the ability to fix the endemic corruption that has brought the economy to its knees.Speaking at the AMH conversations series titled Tackling the ...

By Staff reporter | Published: 04 December 2018

MINING & RETAIL

Simbisa makes executive changes

FAST food chain, Simbisa Brands, has appointed Mr Baldwin Guchu as the group's new finance director effective from December 1, 2018. He replaces Mr Salim Eceolaza who has been assigned the position of...

By Staff reporter | Published: 04 December 2018

MINING & RETAIL

Van Hoogstraten opposes Hwange reconstruction

British businessman Nicholas van Hoogstraten, says he is going to challenge the reconstruction of Hwange Colliery Company Limited (HCCL). Van Hoogstraten holds a 31 percent shareholding in HCCL. In Oc...

By Staff reporter | Published: 04 December 2018

BUSINESS NEWS

Busisa Moyo re-ignites rand debate

Industrialist Busisa Moyo has re-ignited the rand adoption debate by saying Zimbabwe can encourage "the wider circulation of the South African currency under its multi-currency system".This also comes...

By Staff reporter | Published: 03 December 2018

TELECOMS & TECHNOLOGY

Zimbabwe telecoms sector on growth path, revenues exceed $1billion

Zimbabwe's telecoms sector generated revenue in excess of $1 billion and contributed 7,2 % to the country's gross domestic product (GDP) in 2017, the industry regulator has said.Postal and Telecommuni...

By Staff reporter | Published: 03 December 2018
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