FINANCIAL SERVICES

IDBZ acquires 100 hectares for housing

THE Infrastructure Development Bank of Zimbabwe (IDBZ) has concluded the acquisition of 100 hectares of land across the Masvingo-Beitbridge highway for the development of housing projects.Last year, t...

By Staff reporter | Published: 01 June 2018

FINANCIAL SERVICES

Man arrested over fake vehicle insurance scam

A former employee of Regal Insurance company is in hot soup after he allegedly fleeced 16 motorists of nearly $1 000 by selling them fake passenger vehicle insurance policies. Munyaradzi Mhlanga (24) ...

By Staff reporter | Published: 01 June 2018

MINING & RETAIL

ZCDC, ZMDC get new board members

Government appointed new board members for the Zimbabwe Consolidated Diamond Company (ZCDC) and the Zimbabwe Mining Development Company (ZMDC) yesterday. Mines and Mining Development Minister Winston ...

By Staff reporter | Published: 01 June 2018

TELECOMS & TECHNOLOGY

Econet after tax profit rise 265%

Econet Wireless Zimbabwe Limited posted an impressive set of full year financial results for the year to February 28, 2018, with after tax profit vaulting 265 percent to $132 million, driven by the fi...

By Staff reporter | Published: 01 June 2018

MINING & RETAIL

Investors inundate ZMDC over 6 mines

At least 151 investors have formerly expressed interest to invest in six mines owned by the Zimbabwe Mining Development Corporation (ZMDC) after the state company sent out adverts for expressions of i...

By Staff reporter | Published: 01 June 2018

TRANSPORT & TOURISM

NRZ emerges from the doldrums

THE National Railways of Zimbabwe (NRZ) - a critical state enterprise which is part of the economy's locomotive - is slowly but surely emerging from the doldrums it has been firmly stuck in for years ...

By Staff reporter | Published: 01 June 2018

FINANCIAL SERVICES

StanChart seeks more funds from UK's CDC

Standard Chartered Zimbabwe is mulling engaging United Kingdom development finance institution, CDC, for an additional loan funding to support private sector, as it emerged Britain's first loan to the...

By Staff reporter | Published: 01 June 2018

TELECOMS & TECHNOLOGY

Makamba faces the boot

Telecel Zimbabwe will convene an extra ordinary general meeting by next Friday to effect the removal of James Makamba as a shareholder and director of the country's second largest mobile firm. The dev...

By Staff reporter | Published: 01 June 2018

INDUSTRIALS & ENERGY

Davipel to commission $8 million plant

DIVERSIFIED local manufacturer Davipel Holdings is set to commission an US$8 million milling plant which will see it significantly cutting down on its import costs as it aims to scale up investment in...

By Staff reporter | Published: 01 June 2018

MINING & RETAIL

Innscor snaps up News Café and Ocean Basket

Innscor Africa has snapped up News Café and Ocean Basket franchises from investor and restauranteur Shingi Munyeza. Munyeza said that he had sealed a deal with Innscor Africa, but would not be drawn ...

By Staff reporter | Published: 01 June 2018

BUSINESS NEWS

GZU partners TelOne

GREAT Zimbabwe University's Geography Department on Tuesday benefited from TelOne's Corporate Social Investment (CSI) Policy focusing on the environment, education, health and social welfare.Acting Te...

By Staff reporter | Published: 31 May 2018

MINING & RETAIL

Tharisa may join Karo in $4.2bn Zim PGM project

Tharisa, the platinum and chrome miner run by the Pouroulis family, is considering investing in a $4.2bn platinum project in Zimbabwe being developed by another company founded by the family.Tharisa w...

By Bloomberg | Published: 31 May 2018

TELECOMS & TECHNOLOGY

MultiChoice announces a major Pan-African initiative

MultiChoice Africa has launched a new and far-reaching Pan-African social investment initiative called the MultiChoice Talent Factory, created to significantly enhance the pool of talent and skills in...

By Staff reporter | Published: 31 May 2018

FINANCIAL SERVICES

Mandiwanzira steps down

Barclays Zimbabwe chairman Anthony Mandiwanza yesterday stepped down as chairman of the company after a decade in charge.This follows the stepping down of George Guvamatanga as Chief Executive late in...

By Ngoni Shenjere | Published: 31 May 2018

MINING & RETAIL

'Remove indigenisation threshold on diamond, platinum'

Chamber of Mines of Zimbabwe (COMZ) president, Batirai Manhando has urged the government to scrap off indigenisation requirements on diamond and platinum sectors, as failure to do so will chase away i...

By Staff reporter | Published: 31 May 2018

TRANSPORT & TOURISM

NRZ sets record straight on deals

THE National Railways of Zimbabwe (NRZ) has deployed all the leased equipment under its interim agreement with the Diaspora Infrastructure Development Group (DIDG)/Transnet consortium while it awaits ...

By Staff reporter | Published: 31 May 2018

LANDS & AGRICULTURE

Forex shortages bite agric firm

A Gweru-based firm, Linfield Farm, which is in the business of exporting peas and other horticultural products to Europe, is failing to expand its operations due to foreign currency shortages.The firm...

By Staff reporter | Published: 31 May 2018

INDUSTRIALS & ENERGY

CHiNT to proceed with Gwanda solar

CHINESE electrical engineering giant, CHiNT Electric has reaffirmed its commitment to proceed with the implementation of the 100 megawatt Gwanda solar farm project, asserting the debarment by African ...

By Staff reporter | Published: 31 May 2018

TELECOMS & TECHNOLOGY

National Broadband upgrade set for completion

Communication bills for companies and individuals are set to decline significantly when TelOne completes its National Broadband (NBB) network upgrade project next month funded under a $98 million loan...

By Staff reporter | Published: 31 May 2018

FINANCIAL SERVICES

Barclays Zim invests $10m in digital migration

Following its acquisition by FMB Capital of Malawi, Barclays Bank Zimbabwe, says it is investing around $10 million in respect of the migration of its digital systems.Last year, FMB Capital acquired a...

By Staff reporter | Published: 31 May 2018

LANDS & AGRICULTURE

Horticulture set to surpass $143m

Zimbabwe Commercial Farmers Union (ZCFU) director Jeremiah Tevera, said surpassing the $143 million mark was achievable given the abundance of resources in the country as well as the industrious labou...

By Staff reporter | Published: 31 May 2018

FINANCIAL SERVICES

IDBZ in shareholding wrangle

IDBZ has been embroiled in a shareholding wrangle after being dragged to the High Court by a man claiming to own shares in the financial institution. IDBZ is cited as a respondent while applicant is o...

By Staff reporter | Published: 31 May 2018

TELECOMS & TECHNOLOGY

Econet named in Top 100 best brands in Africa

Brand Africa in association with the JSE, announced the Top 100 best brands in Africa on their 6th annual Brand Africa 100: Africa's Best Brands at the JSE in Johannesburg and Econet made the most spe...

By Staff reporter | Published: 30 May 2018

TELECOMS & TECHNOLOGY

Econet welcomes Mnangagwa's approach

Econet Wireless Zimbabwe said it welcomes the approach ushered in by the President Emmerson Mnangagwa government to focus on driving investment in the economy as an enabler to economic growth and job ...

By Ngoni Shenjere | Published: 30 May 2018

TRANSPORT & TOURISM

Zimbabweans prefer foreign airlines

Zimbabwe's forex coffers are getting extra pressure from the dominance of foreign airlines in the country's airspace as locals do not prefer the national airline when travelling.An aviation expert, Mr...

By Staff reporter | Published: 30 May 2018
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