FINANCIAL SERVICES

AAC purchase to spur Alexander Forbes

ALEXANDER Forbes Group Holdings Limited chief executive officer Andrew Darfoor says acquiring African Actuarial Consultants (AAC) will grow his company into a regional powerhouse in actuarial consulta...

By Staff reporter | Published: 18 June 2018

INDUSTRIALS & ENERGY

Agoa shreds Archer's US dream

BULAWAYO textile giant, Archer Clothing Manufacturers' efforts to push for more exports into the United States (US) were hampered by Zimbabwe's ineligibility under the African Growth and Opportunities...

By Staff reporter | Published: 18 June 2018

INDUSTRIALS & ENERGY

Mixed views on Schweppes sweeteners

SCHWEPPES Zimbabwe Limited has added three artificial sweeteners to the Mazoe concentrated drinks which are feared to cause cancer and brain cell damage among other diseases, if consumed in large quan...

By Staff reporter | Published: 18 June 2018

MINING & RETAIL

'Reconstitute HCCL board'

THE Hwange Colliery Company board should be immediately reconstituted as it lacks capacity and experience to transform the ailing giant coal mine, the Parliamentary Portfolio Committee on Mines and En...

By Staff reporter | Published: 18 June 2018

MINING & RETAIL

Russian giant eyes Zim Gems

The world's largest diamond producer by output, Alrosa of Russia, is interested in investing in exploration and mining in Zimbabwe, while also exploring the prospects of bilateral co-operation in te...

By Staff reporter | Published: 18 June 2018

LANDS & AGRICULTURE

Zim to surpass 200m kg tobacco output

Zimbabwe is likely to surpass the 2017 /18 targeted tobacco output of 200 million kilogrammes, given that farmers have already delivered 190 million kgs, with over 50 days to go before the marketing s...

By Staff reporter | Published: 18 June 2018

FINANCIAL SERVICES

Alexander Forbes extends footprint to Zim

South Africa's Alexander Forbes Group Holdings on Friday said its acquisition of a significant stake in African Artcurial Consultants has received all the necessary relevant regulatory approvals. Andr...

By Staff reporter | Published: 18 June 2018

TRANSPORT & TOURISM

Sol Air braces for $100m take off

LOCAL airline Sol Air has clinched a deal with Hong Kong investor YAYA Sun which is set to inject more than US$100 million into the business. The new investment will allow the airline to introduce dom...

By Staff reporter | Published: 15 June 2018

FINANCIAL SERVICES

Fidelity boss in the eye of audit storm

Fidelity Life Assurance Ltd CE Reuben Java is in the eye of a storm after it emerged this week that he was awarded an annual bonus when he was appointed to the helm in October last year at a time the ...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

RTG shareholders fume over dividend

Minority shareholders in Rainbow Tourism Group (RTG) refused to approve directors' fees amounting to US$95 000 and their reappointment to the board at an annual shareholders meeting this week, but los...

By Staff reporter | Published: 15 June 2018

MINING & RETAIL

Gold deliveries increase by 100%

Gold miners are currently paying 14 cents per (KWH); they are paying at a premium while other users are paying 10 centsGold deliveries to Fidelity Printers and Refiners (FPR) increased 100% in the fou...

By Staff reporter | Published: 15 June 2018

MINING & RETAIL

Plans to re-open Empress Mine afoot

Zimbabwe  Nickel Exploration Co is planning to invest about $340 million towards re-opening  Empress Mine in central Zimbabwe and building a processing plant, sources have disclosed. The com...

By Staff reporter | Published: 15 June 2018

FINANCIAL SERVICES

Police absence hits insurers

The absence of police on the country's roads has left individuals, corporate and insurance companies exposed to serious risks caused by flouting of regulations by unlicensed cars and drivers as well a...

By Staff reporter | Published: 15 June 2018

INDUSTRIALS & ENERGY

Boeing plans Zimbabwe base

The world's largest aircraft manufacturer, Boeing Company, plans  to set up base in Zimbabwe that will provide training and expert technical services to companies operating different versions of ...

By Staff reporter | Published: 15 June 2018

BUSINESS NEWS

Civil servants pay rise to increase inflation

RESEARCH firm IH Equities has said that the 15 percent salary adjustment for civil servants will spur demand in the retail sector pushing up the performances of operators in that area, while adding in...

By Staff reporter | Published: 15 June 2018

INDUSTRIALS & ENERGY

Turnall on recovery path

SALES volumes at the Zimbabwe Stock Exchange-listed plumbing materials producer Turnall Holdings Limited surged 70 percent during the first months to May, as product availability improved in Zimbabwe,...

By Staff reporter | Published: 15 June 2018

CONSTRUCTION & PROPERTY

IDBZ sitting on $36m housing portfolio

AFTER servicing and delivering 1 061 housing stands, the Infrastructure Development Bank of Zimbabwe (IDBZ) is presently servicing 4 227 housing stands valued at $36 million, the State-owned group sai...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

More locomotives for NRZ

THE National Railways of Zimbabwe (NRZ) has received additional locomotives and wagons under the equipment deal with Transnet of South Africa.The equipment is part of a deal struck with the Diaspora I...

By Staff reporter | Published: 15 June 2018

TELECOMS & TECHNOLOGY

Close digital divide, says POTRAZ

THERE is a need to upscale the utility of wireless resources to close the digital divide in Zimbabwe and other African countries, Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ...

By Staff reporter | Published: 15 June 2018

MINING & RETAIL

Moti, Sakunda give small miners $50m

AFRICA Chrome Fields (ACF) owners, the Moti Group, and local fuel group Sakunda Holdings have partnered to fund a $50 million small-scale chrome miners support facility.Through a programme called Zimb...

By Staff reporter | Published: 15 June 2018

LANDS & AGRICULTURE

Seed demand to remain unchanged

Demand for seed in the 2018/2019 season will remain unchanged because the Command Agriculture programme will still likely be in place, financial analysts IH Securities have said.In an analysis of Seed...

By Staff reporter | Published: 15 June 2018

INDUSTRIALS & ENERGY

PepsiCo mulls Zim snack plant

AMERICAN conglomerate PepsiCo is looking at Zimbabwe among three other countries in the region to set up a snack plant.Speaking to NewsDay after the launch of the Pepsi plant under Varun Beverages Zim...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

RTG banks on elections

THE Rainbow Tourism Group (RTG) is banking on next month's general elections to boost its revenues further after posting a 16% increase in revenue to $11,1 million in the first five months of the year...

By Staff reporter | Published: 15 June 2018

MINING & RETAIL

'Hwange should give workers houses in lieu of salary arrears'

THE Parliamentary Portfolio Committee on Mines and Energy has recommended that Hwange Colliery and Kamativi Mine give their houses to former and current workers in lieu of salary and pension arrears.T...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

Tourism pushes for VAT review

The tourism sector is optimistic it has the ammunition to force government review the 15% value added tax (VAT) on foreign accommodation which the sector blames for making Zimbabwe uncompetitive as a ...

By Staff reporter | Published: 15 June 2018
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