MINING & RETAIL

BNC repays quarter of $20m smelter bond

Zimbabwe Stock Exchange (ZSE) listed integrated nickel miner, Bindura Nickel Corporation (BNC), has successfully repaid $5 million (25 percent) of the $20 million the company mobilised through a bond ...

By Staff reporter | Published: 18 May 2018

MINING & RETAIL

Lithium plant being set up near Harare

Australia Stock Exchange (ASX)-listed batteries company, Prospect Resources, says it has appointed global engineering company DRA to provide engineering services and upfront design for its flagship Ar...

By Staff reporter | Published: 18 May 2018

INDUSTRIALS & ENERGY

A positive outlook for Delta Corporation

Delta Corporation's net earnings are expected to jump 16 percent to $103 million in the financial year 2019 on anticipated volume growth, despite competition from Pepsi, which is likely to cut the gro...

By Staff reporter | Published: 18 May 2018

INDUSTRIALS & ENERGY

Petrol price fall likely as ethanol production resumes

Zimbabwe's petrol prices are expected to ease marginally as the country records improved supplies of ethanol after the sole producer, Green Fuel, resumed operations at its plant in eastern Zimbabwe. E...

By Staff reporter | Published: 18 May 2018

MINING & RETAIL

Zim to embark on stainless steel feasibility study

Zimbabwe will begin feasibility studies of stainless steel production in the next two months and agreements to pave the way for this exercise will soon be signed, Mines and Mining Development Minister...

By Staff reporter | Published: 18 May 2018

LANDS & AGRICULTURE

Legal battle looms as tobacco farmers fleeced

Private tobacco farmers could have been prejudiced nearly $4 million by contractors who fraudulently contracted them and bought their commodity at low prices. This comes after the Zimbabwe Farmers Uni...

By Staff reporter | Published: 18 May 2018

MINING & RETAIL

Zimbabwe in $17 billion new mining drive

Zimbabwe will soon launch a new mining policy targeting to grow the industry to $17 billion by 2030, driven by a wave of foreign investments that will see a jump in production at existing operations a...

By Staff reporter | Published: 18 May 2018

BUSINESS NEWS

Chaos rocks Delma Lupepe's company

DISCORD has hit Bulawayo's Merspin Limited, with the company's owner Delma Lupepe and judicial manager Cecil Madondo at each other's throats over the control and running of the firm's affairs.Once a t...

By Staff reporter | Published: 18 May 2018

INDUSTRIALS & ENERGY

Coca Cola to invest $65m in Zimbabwe

Coca Cola Eastern and Southern Africa has pledged to invest $65 million in beverage manufacturing.The revelations emerged after its Eastern and Southern Africa General Manager Mr Ahmed Rady met with P...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Eat n' Lick opens their newest outlet in Kwekwe

One of the country's fastest-growing fast food retail outlet, Eat n' Lick has embarked on a massive expansion drive, with the opening of a new branch in Kwekwe to increase its market share in the sect...

By Ngoni Shenjere | Published: 17 May 2018

INDUSTRIALS & ENERGY

RioZim evaluating Zimbabwe power plant bids

Zimbabwean miner RioZim Ltd. is evaluating proposals from six companies to participate in its $1.2 billion power project, as the nation enjoys a return of foreign-investor attention under President Em...

By Bloomberg | Published: 17 May 2018

FINANCIAL SERVICES

Cell Insurance spreads wings

CELL Insurance Group is planning to open two additional health facilities before year-end as part of efforts to spread its reach across the country, The Financial Gazette has reported.Addressing deleg...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Pepsi set to eat into Delta market share

DELTA Corporation's sparkling beverages market share could decline during the current reporting season following the coming on stream of a Pepsi plant early this year, an analysis on the company's out...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

$200m siphoned from Hwange

A KEY shareholder in the Zimbabwe Stock Exchange-listed coal mining giant Hwange Colliery Company Limited has raised the red flag over its multimillion-dollar coal gasification project, amid claims th...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Hwange Colliery proposes 1 300 job cuts

HWANGE Colliery Company Limited (HCCL) shareholders toyed with the idea of cutting 1 300 jobs to save the company two years ago, a report has said.Minutes of two-day meetings of major shareholders hel...

By Staff reporter | Published: 17 May 2018

BUSINESS NEWS

Zim struggling with foreign payments backlog

ZIMBABWE'S foreign payments backlog has risen to over $600 million from $570 million in September last year, central bank governor John Mangudya has said.The governor dismissed assertions from pockets...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Auto Tyres retrenches as revival fails

AUTO Tyres Zimbabwe has retrenched its entire staff after efforts to recapitalise the company, which stopped operations in 2016, failed, The Financial Gazette reported.A notice seen by The Financial G...

By Staff reporter | Published: 17 May 2018

TELECOMS & TECHNOLOGY

Golix to raise $32m through a token sale

Bitcoin was trading locally at a premium to prices obtaining on cryptocurrency exchanges outside of Zimbabwe.Bitcoin was trading locally at a premium to prices obtaining on cryptocurrency exchanges ou...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Competition hots up in beverages sector

COMPETITION in Zimbabwe's beverages sector is set to intensify this year after the opening of Varun Beverages' Pepsi bottling plant in Harare.IH Securities said the beverages spaces, which is dominate...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Caledonia cash flow up 296%

LONDON Stock Exchange-listed resources firm, Caledonia Mining Corporation (Caledonia), says its cash from operating activities surged by 296 percent to $7 million in the first quarter from $1,77 milli...

By Staff reporter | Published: 17 May 2018

LANDS & AGRICULTURE

Farm workers demand 100% salary hike

THE Progressive Agriculture and Allied Industries Workers' Union of Zimbabwe (Paawuz) has asked the government to increase the minimum wage for farm workers by at least 100% to $150 per month, saying ...

By Staff reporter | Published: 17 May 2018

BUSINESS NEWS

SA frozen chicken imports continue

DESPITE a chicken import ban, data from the South African Revenue Services shows that over 1 000 tonnes of frozen chicken and offals were exported by that country to Zimbabwe from 2017.The Livestock,...

By Staff reporter | Published: 17 May 2018

LANDS & AGRICULTURE

TIMB rolls out $70m inputs facility

TOBACCO Industry and Marketing Board (TIMB) is set to roll out a $70 million input facility scheme ahead of the 2018/19 season to boost production of the golden leaf.TIMB spokesperson, Isheunesu Moyo ...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Small scale miner sues Zimasco over gold claim

A SHURUGWI-BASED small-scale gold miner, Florence Mbizo, has taken the Zimbabwe Mining and Smelting Company (Zimasco), to court for allegedly encroaching into her mining claim.According to the court p...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Global firm hired for Arcadia Lithium project

AUSTRALIA-listed junior miner, Prospect Resources, has appointed global engineering firm DRA to provide engineering services and upfront design for its Arcadia Lithium project.In February, Prospect Re...

By Staff reporter | Published: 17 May 2018
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