MINING & RETAIL

ZCDC to extract Chihota diamonds

The Zimbabwe Consolidated Diamond Company (ZCDC), has moved a gear up towards establishing diamonds extraction operations in Chihota communal lands in Marondera District, with the firm having engaged ...

By Staff reporter | Published: 29 January 2019

MINING & RETAIL

Unki FY production up 15%

ANGLO American Platinum's local unit, Unki Platinum, reported a 15% production increase to 85 900 ounces in the full year to December 2018 up from 74 600 ounces recorded in prior year driven by an imp...

By Staff reporter | Published: 25 January 2019

TRANSPORT & TOURISM

Zimbabwe tourism sector counts losses in the wake of protests

ZIMBABWE'S tourism industry stakeholders say the three-day shutdown that brought business to a standstill severely affected the sector, especially in terms of booking cancellations.The shutdown, which...

By Staff reporter | Published: 20 January 2019

MINING & RETAIL

'Looting spells death for Zimbabwe retailers'

BUSINESSES that were broken into, looted and sometimes burnt down during the recent nationwide protests might not be able to rebuild, restock and reopen, business leaders have said.Last week Zimbabwe ...

By Staff reporter | Published: 20 January 2019

INDUSTRIALS & ENERGY

Delta urged to explore export market

INDUSTRY and Commerce Deputy Minister Raj Modi says Delta Corporation Limited should consider exploring and fortifying export markets to enable it to boost its foreign currency coffers in the wake of ...

By Staff reporter | Published: 20 January 2019

MINING & RETAIL

Zimbabwe eyes rejoining London Bullion Market

Zimbabwe is targeting to upscale its engagement for re-accreditation into the London Bullion Market this year as the government seeks to optimize earnings from gold by participating on a global market...

By Staff reporter | Published: 19 January 2019

TELECOMS & TECHNOLOGY

Mnangagwa sued over Internet blackout

Two civic society organisations have dragged President Emmerson Mnangagwa to the High Court following a government decision to completely shut down the Internet twice in a week, following a three-day ...

By Staff reporter | Published: 19 January 2019

TRANSPORT & TOURISM

'17,5% boost in tourist entries'

Zimbabwe recorded a 17,5 percent increase in the number of tourists who entered the country in 2018, the department of Immigration has said.The number of travellers cleared around the country's ports ...

By Staff reporter | Published: 19 January 2019

MINING & RETAIL

Mphoko to be paid for 51% of Choppies

FORMER Vice-President Phelekezela Mphoko and his son, Siqokoqela, have exited Choppies Supermarkets after offering to be bought out of the company to end a protracted ownership wrangle. The Mphokos' l...

By Staff reporter | Published: 19 January 2019

BUSINESS NEWS

Local currency recipe for disaster

FINANCE minister Mthuli Ncube's recent pronouncements that Zimbabwe will revert to using its own currency, a decade after it abandoned the local dollar in favour of a basket of currencies is not feasi...

By Staff reporter | Published: 19 January 2019

FINANCIAL SERVICES

Economic turmoil threatens ZB topline

ZB Holdings sees its topline earnings growing 20% in the current financial year but warned this could be affected by the current economic turmoil that has seen cost structures shoot through the roof, ...

By Staff reporter | Published: 19 January 2019

MINING & RETAIL

Mining sector to meet Chitando over forex allocation

MINE workers and the Chamber of Mines have agreed to approach the government and table a request for the sector to get at least 80% of their foreign currency earnings, businessdigest has learnt.This c...

By Staff reporter | Published: 19 January 2019

INDUSTRIALS & ENERGY

Imports push fridge makers to the edge

THE local refrigerator-manufacturing industry needs protection from imports as it is now cheaper to import than manufacture, a leading player, Capri, has said.The fridge maker, which ceased operations...

By Staff reporter | Published: 19 January 2019

MINING & RETAIL

Barcelos invests in another Bulawayo outlet

Internationally-acclaimed Barcelos restaurant is set to invest $350 000 in opening a second branch in Bulawayo. The restaurant boasts of three outlets in the country and is set to open more this year....

By Staff reporter | Published: 11 January 2019

MINING & RETAIL

Falcon Gold closed

GOVERNMENT has ordered Falcon Gold Mining Company in Shurugwi and other mining concerns within its proximity to immediately cease operations as a safety measure following the collapse of Wanderer Mine...

By Staff reporter | Published: 11 January 2019

INDUSTRIALS & ENERGY

Art Corporation looks beyond borders

ART Corporation is looking to allocate US$3 million for capital expenditure this year as it aims to manufacture 50 000 batteries whilst strengthening its export position in the regional market.In full...

By Staff reporter | Published: 11 January 2019

BUSINESS NEWS

Delta on the brink

DELTA Corporation says it faced the gloomy prospect of halting all its business operations this month owing to a crippling foreign currency shortage that has paralysed the economy.To cushion itself fr...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

Tourists arrivals to Zimbabwe increase by 4%

TOURIST arrivals to Zimbabwe increased 4% in the nine months to September 2018 to 1,8 million from 1,7 million in the corresponding period the previous year as international perceptions of the country...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

Shipping company threatens to block the release of containers for Zimbabwean importers

MEDITERANNEAN Shipping Company (MSC) SA (Zimbabwe) Pvt Ltd has threatened to block the release of containers for Zimbabwean importers over their failure to remit in excess of US$9,1 million in shippin...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

$400m NRZ deal in limbo

GOVERNMENT is reconsidering the US$400 million National Railways of Zimbabwe (NRZ) recapitalisation project to be jointly undertaken by the South African rail, port and pipeline company, Transnet and ...

By Staff reporter | Published: 11 January 2019

FINANCIAL SERVICES

Net closes in on under-capitalised assurers

The Insurance and Pensions Commission (Ipec), is closely monitoring three under-capitalised life assurance firms - Evolution Life, Heritage and Fidelity Life - after the assurers closed the third quar...

By Staff reporter | Published: 08 January 2019

FINANCIAL SERVICES

Life assurance profits down 63% in Q3

ZIMBABWE'S life assurance industry recorded 68 % decline in after tax profits to $314,85 million in the nine months to September 2018 compared to $979,27 million during the same period in 2017, the in...

By Staff reporter | Published: 08 January 2019

TRANSPORT & TOURISM

NRZ targets 4 million tonnes of freight

THE National Railways of Zimbabwe (NRZ) has projected to increase its freight by 25,6 percent this year buoyed by the anticipated improved business and recapitalisation efforts.NRZ public relations ma...

By Staff reporter | Published: 06 January 2019

TRANSPORT & TOURISM

RBZ releases $2,5m for wheat imports

Government has moved in to secure 30 000 metric tonnes of wheat worth $12,2 million with a 20 percent down payment following threats by an international supplier to cut off the deal citing Harare's de...

By Staff reporter | Published: 06 January 2019

MINING & RETAIL

Zimbabwe's 2018 gold deliveries break record

Zimbabwe's gold deliveries to Fidelity Printers and Refiners reached 33.2 tonnes in 2018 worth over $1 billion in export receipts, the highest ever since 1980 as the country starts rebuilding reserves...

By Staff reporter | Published: 04 January 2019
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