MINING & RETAIL

Diamond deposits discovered in Mashonaland East

RICH diamond deposits have been discovered in Marondera West, with government saying it would only start mining operations after crafting a new diamond law in August.President Emmerson Mnangagwa confi...

By Staff reporter | Published: 13 June 2018

TELECOMS & TECHNOLOGY

'Makamba remains in charge of Telecel'

AS the Telecel Zimbabwe ownership wrangle rages on co-founder, Dr James Makamba, has refuted media reports that he has exited the country's third largest mobile network operator, saying he remains in ...

By Staff reporter | Published: 13 June 2018

FINANCIAL SERVICES

FML profit up 35%

Insurance giant First Mutual Holdings Limited (FMHL) recorded a 35 percent jump in profit after tax to $5 million in the five months to May 2018, compared to $3,7 million achieved in the same period l...

By Staff reporter | Published: 13 June 2018

MINING & RETAIL

Rushwaya takes over mining leadership

SHANGHANI Gold Miners' Association executive member, Ms Henrietta Rushwaya, is set to take over as new Zimbabwe Miners' Federation (ZMF) president tomorrow after she successfully filed her nomination ...

By Staff reporter | Published: 13 June 2018

MINING & RETAIL

Govt explores limestone deposits in Zvishavane

Government has started exploration of limestone deposits in Zvishavane which have the potential to generate millions of dollars for the country.Mines and Mining Development Minister Winston Chitando s...

By Staff reporter | Published: 13 June 2018

MINING & RETAIL

ZCDC targets 10 million carats per year

STATE diamond mining entity, Zimbabwe Consolidated Diamond Company (ZCDC), will invest $400 million under its vision 2025 plan as part of efforts to meet set production target of at least 10 million c...

By Staff reporter | Published: 13 June 2018

LANDS & AGRICULTURE

SeedCo contends with production shortfall

SeedCo says it is occupied with dealing with product shortfalls which have negatively impacted on the seed company.The Zimbabwe Stock Exchange-listed pan-African company's chief executive officer Morg...

By Staff reporter | Published: 12 June 2018

TRANSPORT & TOURISM

Proflight Harare-Lusaka tickets go live

Tickets for Proflight Zambia's new route between Harare and Lusaka go on sale from today (June 12) ahead of the launch of the service on July 9, 2018.The airline will fly four times a week, on Monday...

By Agencies | Published: 12 June 2018

TELECOMS & TECHNOLOGY

Telecel saga continues, Makamba hangs to shares

A RENEWED ownership wrangle has erupted over the country's third-largest mobile network operator, Telecel Zimbabwe, following the return of self-exiled businessman and co-founder James Makamba after...

By Ngoni Shenjere | Published: 12 June 2018

FINANCIAL SERVICES

Zim banks' difficulties in sourcing credit lines

Zimbabwean banks - which include units of Standard Bank, Nedbank and Standard Chartered - are facing challenges in sourcing lines of credit, and this has seen their foreign liabilities declining, poin...

By Staff reporter | Published: 12 June 2018

MINING & RETAIL

China's Tsingshan mulls $1bn steel plant in Zim

China's unlisted Tsingshan Holding Group on Monday signed a $1 billion outline agreement with Zimbabwe to build a steelmaking plant there after completing a feasibility study.President Emmerson Mnanga...

By Reuters | Published: 12 June 2018

FINANCIAL SERVICES

ATI to double cover on Zimbabwe

Africa Trade Insurance Agency (ATI) says it will double its insurance cover on Zimbabwe to $500 million this year amid increased interest from investors.Zimbabwe became a member of ATI last year with ...

By Staff reporter | Published: 12 June 2018

FINANCIAL SERVICES

Barclays Bank Zimbabwe to change name

BARCLAYS Bank Zimbabwe (BBZ) has announced plans to change its name to First Capital Bank Limited following the financial institution takeover by First Merchant Bank of Malawi last year.Last October, ...

By Staff reporter | Published: 12 June 2018

TELECOMS & TECHNOLOGY

NetOne to fund 500 SMEs

STATE-owned mobile telecommunications firm, NetOne, has come up with a programme to capacitate 500 Small to Medium Enterprises (SMEs) across the country and help them create jobs in the next few month...

By Staff reporter | Published: 12 June 2018

TRANSPORT & TOURISM

KLM Cargo increases flights into Zimbabwe

Dutch airline KLM Cargo now flies four times a week into Harare, with Netherlands Ambassador to Zimbabwe Mrs Barbara Van Hellemond yesterday saying she was hopeful trade between the two countries woul...

By Staff reporter | Published: 12 June 2018

TRANSPORT & TOURISM

ZTA engages comedians to market destinations

In a drive to increase domestic tourism, the Zimbabwe Tourism Authority has engaged comedians to tour various destinations, marketing them on social media. The project commenced last week with veteran...

By Staff reporter | Published: 12 June 2018

CONSTRUCTION & PROPERTY

IDBZ raises $26m for housing

The Infrastructure Development Bank of Zimbabwe (IDBZ) raised $26,6 million in 2017 for housing projects across the country, as it pressed ahead with its mandate of infrastructure financing. This come...

By Staff reporter | Published: 12 June 2018

LANDS & AGRICULTURE

Tobacco farmers gross over $500m

Tobacco farmers have grossed $515,1 million from 177,8 million kilogrammes that have been delivered 52 days into the 2018 marketing season, a gain of more than $95 million on revenues realised during ...

By Staff reporter | Published: 12 June 2018

INDUSTRIALS & ENERGY

Powerspeed expansion drive paying off

Profit for hardware retail chain Powerspeed Electrical Limited, for the half year to March 31, 2018 surged 252 percent to $2 million on product range expansion and availability. Turnover jumped 55 per...

By Staff reporter | Published: 12 June 2018

TRANSPORT & TOURISM

Rising confidence drives hotel occupancy levels

OCCUPANCY rates for Zimbabwean hotels have risen significantly since beginning of the year on the back of growing confidence in Zimbabwe after President Mnangagwa was sworn into office in November las...

By Staff reporter | Published: 12 June 2018

BUSINESS NEWS

Trade credit risks discussed at Zimnat conference

The majority of trade transactions across the world are conducted on open account terms, supported by a purchase order and invoice with mutually agreed payment terms as the basis for trust, according ...

By Agencies | Published: 11 June 2018

MINING & RETAIL

Ziscosteel sale awaits shareholder approval

Shareholders of the Zimbabwe Iron and Steel Company (Ziscosteel), will hold an extraordinary general meeting on June 28, to approve a transaction that will see the steelmaker's assets sold to Chinese ...

By Staff reporter | Published: 11 June 2018

MINING & RETAIL

Kamativi lithium exploration complete

FULL lithium production at Kamativi Mine is expected to begin by June next year with investors saying exploration of the mineral at the defunct mine has been completed.In March this year, Jimbata, a w...

By Staff reporter | Published: 11 June 2018

INDUSTRIALS & ENERGY

Govt restructures Zesa

GOVERNMENT will not appoint new boards for Zesa subsidiaries after the expiry of their terms today (June 11, 2018) in line with reforms taking place in State-owned enterprises and parastatals, a Cabin...

By Staff reporter | Published: 11 June 2018

TELECOMS & TECHNOLOGY

Econet blocks EcoCash lines

Econet Wireless has reportedly blocked agent lines for some of its clients over alleged hoarding and selling of cash. Affected Econet agents who spoke to The Herald in Kwekwe and Gweru said they were ...

By Staff reporter | Published: 11 June 2018
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