INDUSTRIALS & ENERGY

Private equity firms eye David Whitehead

David Whitehead is in serious negotiations with two unnamed investors seeking to inject fresh capital and revive the struggling textile firm, sources familiar with the talks have revealed. The company...

By Staff reporter | Published: 19 December 2018

MINING & RETAIL

Zimbabwe to unveil platinum policy

GOVERNMENT will soon unveil a platinum policy to provide the framework for developing the sector, Mines minister Winston Chitando has said.Platinum is one of the two minerals, along with diamonds, in ...

By Staff reporter | Published: 17 December 2018

TELECOMS & TECHNOLOGY

Potraz breaks foreign networks dominance

THE growing network infrastructure investment in previously unserved areas by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has increased connectivity in the country. The...

By Staff reporter | Published: 17 December 2018

TRANSPORT & TOURISM

Brisk business for Victoria Falls tourism players

A MAJORITY of tourism players in Victoria Falls managed to break even in terms of arrivals and income this year owing to renewed interest generated by the new political administration. The Employers' ...

By Staff reporter | Published: 17 December 2018

TRANSPORT & TOURISM

American restaurant comes to Bulawayo

AMERICAN restaurant chain, Pizza Hut is set to open its second outlet in Zimbabwe with Bulawayo being the chosen city. The first outlet at Sam Levy's Village in Harare was opened in February. The Bula...

By Staff reporter | Published: 17 December 2018

TRANSPORT & TOURISM

HCC sues NRZ

Harare City Council (HCC) has dragged the government-owned National Railways of Zimbabwe (NRZ) to the High Court over failure to pay rates totalling more than $200 000.In its founding affidavit, HCC t...

By Staff reporter | Published: 16 December 2018

MINING & RETAIL

Hwange Colliery row deepens

Hwange Colliery Company Limited (HCCL) scheme of arrangement chairperson has challenged the Justice ministry's move to place the coal mining company under reconstruction.Chairperson Andrew Lawson has ...

By Staff reporter | Published: 16 December 2018

INDUSTRIALS & ENERGY

Chloride Zimbabwe targets battery exports

Zimbabwe's battery manufacturer, Chloride Zimbabwe is targeting enhanced exports next year following a strong performance that has raked in $6 million.The battery firm's $5 million investment in a new...

By Staff reporter | Published: 16 December 2018

MINING & RETAIL

Vast Resources well-funded for projects

AIM - listed diversified miner, Vast Resources, says it is "well-funded" to implement its various projects going forward, including its Zimbabwean projects, the Eureka Gold Mine and the Heritage Conce...

By Staff reporter | Published: 11 December 2018

TRANSPORT & TOURISM

Bulawayo hotels, lodges fully booked

MAJOR hotels and lodges in Bulawayo are fully booked ahead of the Annual Zanu-PF National Peoples' Conference, which begins in Esigodini, Matabeleland South today. The five-day event is seen as a majo...

By Staff reporter | Published: 10 December 2018

TELECOMS & TECHNOLOGY

'Zimbabwe telecoms investment costs drop 35%'

ZIMBABWE's infrastructure sharing model has yielded up to 35 percent drop in the cost of investment in the information and telecommunications sector, which will largely benefit ordinary consumers and ...

By Staff reporter | Published: 10 December 2018

FINANCIAL SERVICES

Non-life insurers profit jumps 52%

NON-LIFE insurers' profit after tax jumped 52,34 percent to $16,34 million in the 12 months period to June 30, 2018 compared to the same comparative period the prior year, according the Pensions and I...

By Staff reporter | Published: 10 December 2018

TRANSPORT & TOURISM

ZITF hotel project takes shape

THE Zimbabwe International Trade Fair (ZITF) Company says it is finalising tenders for the construction of its hotel and conference centre.The project, which is valued at $11 million, is expected to p...

By Staff reporter | Published: 09 December 2018

TRANSPORT & TOURISM

Turkish Airlines set to fly into Zimbabwe

Turkish Airlines is expected to expand its flight route into Zimbabwe by the second quarter of next year following profound deliberations held by authorities from the two countries at the ongoing Turk...

By Staff reporter | Published: 07 December 2018

LANDS & AGRICULTURE

US dollar for tobacco, cotton farmers

Tobacco and cotton growers will be paid 20 percent of their produce in foreign currency in the next marketing season while the Government will retain the remainder to help meet imports of essential co...

By Business Weekly | Published: 07 December 2018

BUSINESS NEWS

URL listing to depend on economy outlook, says Moyo

A PLANNED initial public offering of United Refineries Ltd (URL) will depend on the economic climate, CE Busisa Moyo says.URL this year moved to strengthen its balance sheet by inviting pension funds ...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Cambria Africa expects savings of US$400 000

CAMBRIA Africa Plc expects savings of about US$400 000 in the current financial year in company compensation thanks to a recently completed re-organisation of the group, a company official said.Cambri...

By Staff reporter | Published: 07 December 2018

INDUSTRIALS & ENERGY

TSL wards off $21,4m executive share issue

TSL Ltd moved to avert a potentially explosive showdown at an extraordinary general meeting (EGM), which was scheduled for this week, to consider a proposal that would have seen the issuance of new sh...

By Staff reporter | Published: 07 December 2018

FINANCIAL SERVICES

GetBucks cautious on mortgage loans

GetBucks Microfinance Bank CE Terrence Mudangwe says the financial institution is treading cautiously in the issuance of mortgage loans, given the nature of its assets on the market, but is leveraging...

By Staff reporter | Published: 07 December 2018

MINING & RETAIL

Bindura smelter project put on hold

PAYMENT for a bond which was floated a few years ago for the restart of a smelter by Bindura Nickel Corporation (BNC) is weighing down on the company's capital requirements after it spent US$5 million...

By Staff reporter | Published: 07 December 2018

INDUSTRIALS & ENERGY

'Zimbabwe runs out of fuel'

ZIMBABWE Energy Regulatory Authority (Zera) acting chief executive officer Eddington Mazambani yesterday revealed to Parliament that the country had exhausted the $60 million worth of fuel imported la...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Works begin on Hwange units 7, 8

HWANGE Power Station units 7 and 8 expansion project, launched by President Mnangagwa at the beginning of August this year, has commenced with a number of civil works now underway. The project will co...

By Staff reporter | Published: 07 December 2018

LANDS & AGRICULTURE

Over 19 000ha tobacco planted

At least 19 265 hectares of land  have so far been put under tobacco during the 2018 /19 summer cropping  season, up from 18 396 hectares that had been planted during the same period last ye...

By Staff reporter | Published: 07 December 2018

MINING & RETAIL

Forex shortages, inflation weigh on Innscor

Diversified Industrial group, Innscor Africa Limited says gross profit margins during the first quarter of the 2019 financial year remained under pressure due to foreign currency and inflationary pres...

By Staff reporter | Published: 06 December 2018

INDUSTRIALS & ENERGY

Pacific Cigarette Company partners Chinese firm

Pacific Cigarette Company (PCC), formerly Savannah Tobacco Company, has partnered a top Chinese government-owned tobacco company in a move that will see local cigarettes being sold on the global marke...

By Staff reporter | Published: 06 December 2018
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