CONSTRUCTION & PROPERTY

Reduced stands sales weigh down ZPI

ZIMRE Property Investments (ZPI) says it recorded a loss of $1,42 million during the year ended December 31, 2018, compared to a profit of $2,49 million in 2017 due to portfolio restructuring and redu...

By Staff reporter | Published: 02 May 2019

INDUSTRIALS & ENERGY

General Beltings back in red

GENERAL Beltings (GB) has slipped back into the red after registering an operating loss of $323 000 in the year to December 2018 against a prior year operating profit of $6 000 due to high finance cos...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

ZB mobilises offshore lines of credit

ZB Financial Holdings says it has successfully mobilised offshore lines of credit to support the productive sector of the economy as the group increased its profit after tax by 54% to US$21,8 million ...

By Staff reporter | Published: 02 May 2019

MINING & RETAIL

Makomo coal output plunges in Q1

Coal miner, Makomo Resources, says production in the first quarter of the year remained subdued, with output only reaching half of the company's target due to the unavailability of key raw materials."...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

Ecobank Zimbabwe standout performer among banks in F18

Ecobank Transnational Incorporated (ETI) is targeting a return on equity of over 20% in the short term for its Central, Eastern and Southern African (CESA) banking segment and is overall satisfied wit...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

NMB stockpiles Govt commercial paper

NMBZ Holdings has increased its portfolio of Treasury Bills (TBs) by 27,1% during the year to December 31,2018 to US$117,2m. In 2017, the group's TBs holding stood at US$92,2m.The financial results fr...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

StanChart rolls out retail digital banking

The country's oldest financial institution, Standard Chartered Bank Zimbabwe (StanChart), is planning to strengthen its franchise by rolling out its first digital banking platform for its retail custo...

By Staff reporter | Published: 02 May 2019

TRANSPORT & TOURISM

NRZ blames Mnangagwa's govt

THE National Railways of Zimbabwe (NRZ) has dismissed media reports suggesting that some of the parastatal's top managers were sabotaging the US$400 million recapitalisation project to save their jobs...

By Staff reporter | Published: 02 May 2019

LANDS & AGRICULTURE

Tea growers need machinery

Tea growers in Honde Valley are seeking assistance to buy equipment to speed up the pruning of their plants in preparation for the resumption of production in September. Honde Valley Tea Growers Assoc...

By Staff reporter | Published: 02 May 2019

LANDS & AGRICULTURE

Zimbabwe govt contracts more wheat farmers

GOVERNMENT is in the process of contracting more wheat farmers for the winter cropping season, an Agritex official has said. Manicaland Agritex Livestock and Crops officer Mr Cephas Mlambo said they w...

By Staff reporter | Published: 02 May 2019

MINING & RETAIL

Gold mobilisation task force sent out

The Ministry of Mines and Mining Development has dispatched the Gold Mobilisation National Taskforce to the country's eight mining provinces in a bid to shore up deliveries to state buyer, Fidelity Pr...

By Staff reporter | Published: 02 May 2019

FINANCIAL SERVICES

CBZ Holdings sitting on US$2,44bn asset base

CBZ Holdings Limited reported that its asset base grew to US$2,44 billion in the full year to December 2018 from US$2,1 billion in the previous year, making it one of the largest companies by asset si...

By Staff reporter | Published: 01 May 2019

FINANCIAL SERVICES

ZB mobilises offshore lines of credit

ZB Financial Holdings says it has successfully mobilised offshore lines of credit to support the productive sector of the economy as the group increased its profit after tax by 54% to US$21,8 million ...

By Staff reporter | Published: 01 May 2019

CONSTRUCTION & PROPERTY

Zimre records US$1,42m loss after property arm restructuring

ZIMRE Property Investments Limited (ZPI) says the restructuring of its portfolio led to a loss of US$1,42 million for the year ended December 31, 2018 from a profit after tax of US$2,48 million in the...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

Zimbabwe to host inaugural wine-tasting semi finals

Zimbabwe will this month host the inaugural Wines of South Africa (WoSA) Sommelier Cup Zimbabwe semi-finals in Victoria Falls, with the winner set to represent the country at the fourth grande finale ...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

'Price hikes reflect anti-export policy'

THE Confederation of Zimbabwe Industries (CZI) says price hikes currently obtaining in the country are a reflection of government's anti-export policies and not the fault of industry.CZI president Sif...

By Staff reporter | Published: 01 May 2019

INDUSTRIALS & ENERGY

Currency issues hit Pick n Pay performance

PICK N PAY's Zimbabwean subsidiary TM Supermarkets took a 6,3 percent drop in profits in the 52-week period to end of March as it adjusted to currency and exchange reforms. The South African headquart...

By Staff reporter | Published: 01 May 2019

INDUSTRIALS & ENERGY

Sengwa power station project set to start

LISTED mining group, RioZim, says it is set to kick start development of the proposed US$2 billion Sengwa Thermal Power Station project in Gokwe before the end of this year. In a statement accompanyin...

By Staff reporter | Published: 01 May 2019

INDUSTRIALS & ENERGY

CFI divisions get $33 million working capital

CFI Holdings' divisions, Agrifoods and Victoria Foods, will next month go for a scheme of arrangement after their judicial managers, Grant Thornton, courted an investor, Dominion Trading, which inject...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

Seed Co issues fake seeds warning

REGIONAL seed producer, Seed Co, has warned against buying uncertified seed, saying it has poor germination rate and results in low yields. Seed Co southern region manager, Mr Charles Munyoro, said fa...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

More Japanese firms for Zimbabwe

MORE Japanese are set to invest in Zimbabwe in response to the on-going economic reform process with Tokyo and Harare pushing for improved bilateral relations. Japanese Ambassador to Zimbabwe Mr Toshi...

By Staff reporter | Published: 01 May 2019

BUSINESS NEWS

IDBZ to bankroll Mat South irrigation scheme

AT least 450 hectares of farm-land in Mangwe District, Matabeleland South Province will be opened up under a planned irrigation scheme to enhance the country's food security while some of the produce ...

By Staff reporter | Published: 01 May 2019

TRANSPORT & TOURISM

Air Zimbabwe's Boeing B767 back in skies

A foreign object absorbed by Air Zimbabwe's Boeing 767-200ER on the left engine at take-off caused an engine surge resulting in the "brief" tail pipe fire, a probe by a team of the national airline's ...

By Staff reporter | Published: 01 May 2019

TELECOMS & TECHNOLOGY

Econet data bundle price hike largely expected

The country's largest mobile network operator Econet Wireless Zimbabwe has adjusted its data bundle tariffs upwards in a move that was largely expected, following  State-owned competitors NetOne ...

By Staff reporter | Published: 01 May 2019

TRANSPORT & TOURISM

Air Zimbabwe takes delivery of Embraer ERJ145

Government took delivery today, of the first additional aircraft, an Embraer ERJ145 purchased from the United States of America, as plans to revive Air Zimbabwe gather momentum.The 50-seater jet is ex...

By Staff reporter | Published: 30 April 2019
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