MINING & RETAIL

ZimAlloys pushes for Balasore deal cancellation

Zimbabwe Alloys Ltd has appealed the High Court judgment stopping the local ferrochrome producer from terminating the $90 million take-over bid by an Indian firm, Balasore Alloys as the tussle over th...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Dairibord revenue up 17% in Q1

Dairy and food processor, Dairibord Holdings' performance in the four months to April was above the same period last year with revenue growth at 17 percent ahead of prior year.In a trading update to s...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Tharisa acquires a 90% of Salene Chrome Zim

Tharisa has acquired a 90% shareholding in Salene Chrome Zimbabwe (Pvt) Limited ('Salene') at the par value thereof from the Leto Settlement Trust ('Leto'), a related party being the beneficial shareh...

By SENS | Published: 16 May 2018

TELECOMS & TECHNOLOGY

Golix traded $20 million, has 50 000 clients

ZIMBABWE'S cryptocurrency exchange, Golix, says it has traded more than $20 million to date and is looking forward to opening exchanges in more African countries as well as expanding the portfolio of ...

By Staff reporter | Published: 16 May 2018

FINANCIAL SERVICES

$28m in benefits lie unclaimed, says IPEC

THE Insurance and Pension Commission of Zimbabwe (Ipec) says pension funds have more than $28 million worth of unclaimed benefits, a symptom of lack of knowledge, which is one of the problems burdenin...

By Staff reporter | Published: 16 May 2018

INDUSTRIALS & ENERGY

Leather cluster shoe factory begins operations

THE Bulawayo leather cluster shoe factory has started operating, with a new product line expected to hit the market soon.Cluster secretary, Mr Fungai Zvinondiramba, said they were in talks with a numb...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Zimbabwe proposes new gold policy

MINES and Mining Development Minister Winston Chitando says a new gold development policy is being formulated to assist artisanal and small-scale miners to ramp up production.The new policy document w...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Caledonia wants bigger stake in Blanket Mine

AIM-listed Caledonia Mining Corporation plans to increase its stake in Gwanda-based gold producer, Blanket Mine, following recent amendments to the Indigenisation and Economic Empowerment Act by Gover...

By Staff reporter | Published: 16 May 2018

LANDS & AGRICULTURE

Command Livestock registration begins

Government has started registering farmers who will benefit from the Command Livestock scheme in Beitbridge district, the district agriculture extension officer Mr Masauso Mawocha has said. Mr Masauso...

By Staff reporter | Published: 16 May 2018

INDUSTRIALS & ENERGY

Oil hits high

Oil prices hit a 3-1/2-year high on Tuesday, supported by tight supply and planned U.S. sanctions against Iran that are likely to restrict crude oil exports from one of the biggest producers in the Mi...

By Reuters | Published: 16 May 2018

BUSINESS NEWS

Zimpapers gets TV licence

The Zimbabwe Newspapers (1980) Ltd has been granted a television broadcasting licence by the Broadcasting Authority of Zimbabwe. This makes the media house the first and only fully integrated media ho...

By Staff reporter | Published: 16 May 2018

TELECOMS & TECHNOLOGY

Copper thieves pounce on TelOne

Fixed phone operator TelOne has fallen victim to massive theft of copper cables, with the latest being the looting of a 1 200m pair cable feeding a major section of the Harare's central business distr...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Hwange Colliery boss suspended

HWANGE Colliery Company has suspended its managing director Thomas Makore to facilitate an investigation into allegations of insubordination, sources have revealed. But the company said the suspension...

By Staff reporter | Published: 16 May 2018

LANDS & AGRICULTURE

Tobacco sales top 100 million kg

Over 100 million kilogrammes of tobacco worth $289,8 million have been sold by farmers since the opening of the season.The tobacco was sold at an average price of $2,87 per kilogramme. According to th...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Sinosteel to invest $1bn in Zimbabwe

China's Sinosteel Corporation has agreed to invest $1-billion in Zimbabwe to build a power plant and increase ferrochrome output, the Southern African country's President Emmerson Mnangagwa said on Mo...

By engineeringnews | Published: 15 May 2018

INDUSTRIALS & ENERGY

Proton records 400% sales growth in Bulawayo

PROTON Bakers says it has recorded 400 percent growth in sales in Bulawayo alone where it has created 153 jobs, a year after entering the market in the southern region.The Marondera-headquartered firm...

By Staff reporter | Published: 15 May 2018

INDUSTRIALS & ENERGY

Merlin seeks to dispose of obsolete, non-core assets

TEXTILE giant, Merlin, has filed a High Court application seeking to dispose obsolete and non-core assets to raise additional working capital.The Bulawayo-based company, which presently is under judic...

By Staff reporter | Published: 15 May 2018

TRANSPORT & TOURISM

'ZimAirways planes deal above board'

TRANSPORT and Infrastructural Development Minister Dr Joram Gumbo says the $70 million Malaysian plane deal will go a long way in improving the aviation industry and supporting efforts to open up the ...

By Staff reporter | Published: 15 May 2018

MINING & RETAIL

Caledonia targets 80 000 ounces by 2021

Caledonia Mining Corporations says it is on course to achieve gold production output of 80 000 troy ounces (about 2,4 tonnes) by 2021 at its Blanket Mine, although production during the quarter to Mar...

By Staff reporter | Published: 15 May 2018

FINANCIAL SERVICES

RBZ ban hits Golix

Harare digital money exchange Golix.com has suspended plans to raise $35,8 million through an Initial Coin Offering (ICO) until further notice, after the Reserve Bank of Zimbabwe (RBZ) effectively shu...

By Staff reporter | Published: 15 May 2018

MINING & RETAIL

Zim, Sinosteel seal $1bn ferrochrome deal

Zimbabwe and Sinosteel of China have signed a memorandum of understanding (MOU) to the tune of $1.01 billion for the mining of ferrochrome and coal bed methane in Matabeleland North Province.Projects ...

By Staff reporter | Published: 14 May 2018

LANDS & AGRICULTURE

Dutch firm joins Zimbabwe cannabis stampede

A Dutch firm has engaged the Zimbabwe government on intentions to set up a factory in Zimbabwe to value-add cannabis for medicinal purposes.There has been an overwhelming response from people and comp...

By Ngoni Shenjere | Published: 14 May 2018

TELECOMS & TECHNOLOGY

TelOne gets a broadcasting licence

Government has awarded the State-owned telecoms firm TelOne a broadcasting licence, allowing the company to offer video on demand services.TelOne announced the news yesterday in one of the State-run n...

By Staff reporter | Published: 14 May 2018

FINANCIAL SERVICES

Zimbabwe banks to revive long term loans

Zimbabwe's financial sector will soon revive long-term loans for the industry as the central bank is finalising affordable offshore credit line facilities with regional and global banks.  &n...

By Staff reporter | Published: 14 May 2018

TELECOMS & TECHNOLOGY

OneMoney subscribers get free school fees

Lucky subscribers of NetOne's mobile money service, OneMoney, have been paid back the money they used to pay school fees through the service, as part of a promotion being run by the mobile network ope...

By Staff reporter | Published: 14 May 2018
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