INDUSTRIALS & ENERGY

Simbisa to open more outlets in Kwekwe

FAST food chain, Simbisa Brands is set to open two outlets in Kwekwe in the next two months as it spreads its wings to maintain market dominance on the local market.Simbisa already operates Nando's, C...

FINANCIAL SERVICES

Barclays Zim to operate under dual brand by October

BARCLAYS Bank of Zimbabwe says it will be operating under a dual brand by October this year following its acquisition by FMB Malawi last year.Last October, FMB received regulatory approvals to acquire...

FINANCIAL SERVICES

Steward Bank profit before tax rises 133%

STEWARD Bank has recorded profit before tax of $32,7 million for the full year ended February 28, 2018, a 133 percent jump from last year's $8,4 million.In statement accompanying the bank's financial ...

TELECOMS & TECHNOLOGY

Econet reports $831m topline revenue

ECONET Wireless Zimbabwe has reported impressive $831,6 million top line revenue for the full year ended 28 February 2018, a 34 percent increase from the $621,7 million reported in the prior year.Buoy...

TELECOMS & TECHNOLOGY

Potraz rakes in over $120 million

THE Postal and Telecommunications Regulatory Authority of Zimbabwe has collected over $120 million since the introduction of the multi-currency system in 2009 under the Universal Services Fund (USF), ...

TELECOMS & TECHNOLOGY

Econet in $50m debenture poser

ECONET Wireless Zimbabwe is desperate to find a quick solution to circumvent regulatory challenges which have hampered plans to list $50 million debentures on an external securities exchange to protec...

LANDS & AGRICULTURE

SeedCo revenue down 5%

A combination of adverse factors saw pan-African seed giant Seed Co record lower than expected sales volumes and revenue for the year-ended March 31, 2018. According to chief executive officer Morgan ...

BUSINESS NEWS

Mash Holdings reviews land banks

Listed property development firm, Mash Holdings says it is reviewing its land banks as a way of unlocking value for shareholders. The group's chairperson, Ron Mutandagayi said the company will maintai...

FINANCIAL SERVICES

'Zimbabwe banks ripping-off clients'

Employees in the financial and banking sector under the Zimbabwe Banks and Allied Workers Union (Zibawu) have accused banks of ripping-off clients while paying them slave wages.The workers, in a lett...

LANDS & AGRICULTURE

Seed Co takes farmers to global expo

Local seed company Seed Co's thought leadership initiatives recently saw 30 farmers being flown to South Africa to join about 80 000 agriculture stakeholders across the globe at the Nampo Park Exhibi...

FINANCIAL SERVICES

Govt urged to set up financial intelligence unit

THE Government should establish an independent financial intelligence unit, outside the Reserve Bank of Zimbabwe, to guarantee its effectiveness under the Money Laundering and Proceeds of Crime Act....

MINING & RETAIL

JR Goddard opens up on lithium contract

BULAWAYO businessman Mr Jim Ross Goddard says his company will deliver the best service and render investment value after it won an earth-moving contract running into millions of dollars from Prospect...

LANDS & AGRICULTURE

Irvine's restocking almost complete

ZIMBABWE's biggest chicken breeder - Irvine's is now supplying 80 percent of the total requirements for day-old chicks.The company anticipates to meet full demand by September as it continues on its ...

FINANCIAL SERVICES

RBZ can't account for bond notes in circulation

Reserve Bank of Zimbabwe (RBZ) deputy governor, Dr Jesimeni Chipika has said the central bank can no longer account for the bond notes and coins that are in circulation due to massive hoarding of the...

INDUSTRIALS & ENERGY

Zim gets $1bn Chinese loan

Zimbabwe has concluded a $1.4bn agreement with the Export-Import Bank of China (Exim Bank) to expand power generation and help alleviate the country's perennial electricity shortages.According to a s...

MINING & RETAIL

Shingi Munyeza's franchise businesses crumble

Business Shingi Munyeza seems to have failed to grow the businesses he acquired several years ago as he is reportedly set to dispose the franchises.Munyeza started by scaling down operations at some ...

FINANCIAL SERVICES

Women's bank finally licensed

Zimbabwe's Women's Microfinance Bank Limited which had missed several proposed launch deadlines has finally been licensed to conduct deposit-making microfinance business with effect from May 29.The b...

TELECOMS & TECHNOLOGY

TelOne engages communities on vandalism

Integrated telecommunications company, TelOne, has embarked on an "Anti-vandalism" community outreach after vandalism had threatened an upgrade of Zimbabwe's main communication system and exchanges i...

TRANSPORT & TOURISM

NRZ records 50% surge in passengers

THE National Railways of Zimbabwe (NRZ) has recorded a 50% increase in the number of passengers using its trains following the deployment of new coaches early this year, an official has claimed.Early...

TRANSPORT & TOURISM

Bulawayo's Churchill hotel relaunched

Regional hospitality group Cresta Hotels has re-launched its Cresta Churchill hotel in Bulawayo after completing a $700 000 refurbishment that was focused principally on its accommodation offering, b...

TRANSPORT & TOURISM

NRZ pushing miners out of business

THE National Railways of Zimbabwe (NRZ) is levying close to US$0,10 to move a tonne of freight per kilometre, nearly 300% more than other competing rail operators in the region, a key coal-mining comp...

FINANCIAL SERVICES

Brighter days for First Mutual properties

First Mutual Properties occupancy levels are seen closing the year at 78% from the current levels buoyed by its office park in Harare's Arundel Park and industrial units as the firm banks on its diver...

MINING & RETAIL

Hwange Colliery strike ends

Hwange Colliery Company Limited (HCCL) has finally climbed down from its hardline position to end a nearly 120-day long protest by wives of employees who were owed thousands of United States dollars i...

NMB Bank partners World Remit, Small World

NMB Bank has partnered with global money transfer agents World Remit and Small World Financial Services to provide further options for Zimbabweans wanting to receive money from other countries.The ban...

MINING & RETAIL

SPAR Kwekwe is open for business

"We are delighted to announce the official opening of SPAR Kwekwe," Moses Chihuri of SPAR Zimbabwe said this week."As we welcome the newest member of the family, we at SPAR Zimbabwe are excited and po...