FINANCIAL SERVICES

Banking sector demands 60% pay rise

WORKERS in the banking sector are demanding a 60 percent salary increase and have given their employers a two-week ultimatum after which they will go on strike if their demands are not met.In a letter...

By Staff reporter | Published: 23 May 2018

MINING & RETAIL

Govt moves to privatise ZMDC

GOVERNMENT has expressed concern over dysfunctional mining assets under the Zimbabwe Mining Development Corporation (ZMDC) and has opened a public tender inviting investors to take over the mines.Mine...

By Staff reporter | Published: 23 May 2018

INDUSTRIALS & ENERGY

Surface Wilmar eyes Cottco

Surface Wilmar Group Zimbabwe is set to acquire a 50 percent stake in the Cotton Company of Zimbabwe (Cottco) and has plans to immediately invest $100 million in the agro-industrial firm.Surface is a ...

By Staff reporter | Published: 23 May 2018

TELECOMS & TECHNOLOGY

BAZ to increase TV, Radio service coverage

The Broadcasting Authority of Zimbabwe (BAZ) is working on increasing radio and television service coverage from the current 55 percent to 80 percent countrywide under the premise of the digital migra...

By Staff reporter | Published: 23 May 2018

INDUSTRIALS & ENERGY

$3,5m plant for Splash Paints

SPLASH Paints and Plastics has invested in a state of art machinery valued at $3,5 million in line with the country's economic revival strategy, President Mnangagwa has said.Reading the speech on beha...

By Staff reporter | Published: 23 May 2018

MINING & RETAIL

Lack of exploration unsettles Zim govt, miners

GOVERNMENT has raised concerns over lack of investment into exploration in mining amid palpable fears that without new mineral discoveries, the future of the sector was uncertain and unsustainable.Min...

By Staff reporter | Published: 23 May 2018

FINANCIAL SERVICES

NMB Bank opens sub-branch in Bindura

NMB Bank has opened a sub-branch in Bindura to provide existing and potential customers in Mashonaland Central with ready access to its banking services and products. The sub-branch opened for busines...

By Staff reporter | Published: 23 May 2018

MINING & RETAIL

$4.2bn platinum deal on schedule

Establishment work on the US$4.2 billion deal with Cyprus-based Karo Resources towards a platinum project in Zimbabwe is on schedule with the ground breaking ceremony for the venture expected end of n...

By Staff reporter | Published: 22 May 2018

TRANSPORT & TOURISM

Zimbabwe grants RwandAir fifth freedom rights

Aviation authorities in the country have been applauded for granting fifth freedom rights to RwandAir following the airlines flight route that connects Kigali and Capetown via Harare.The Zimbabwe Tour...

By Staff reporter | Published: 22 May 2018

FINANCIAL SERVICES

NMB named among top 200 brands

NMB Bank was named as one of the top 200 brands in the Marketers' Association of Zimbabwe Superbrands selection process at an event held at the Crowne Plaza Hotel last Friday (May 18).The top 200 bran...

By Agencies | Published: 22 May 2018

FINANCIAL SERVICES

Experts address Zimnat trade credit conference

A high level conference on the role of trade credit insurance in promoting and supporting increased trade will be held on June 8 at Cresta Lodge in Harare.The conference, which has been organised by t...

By Staff reporter | Published: 22 May 2018

FINANCIAL SERVICES

IPEC boss Karonga resigns

Insurance and Pension Commission (Ipec) commissioner Tendai Karonga has resigned after falling out with the regulator's board.This comes, just over a year after he took over from Marnet Mpofu who left...

By Staff reporter | Published: 22 May 2018

TELECOMS & TECHNOLOGY

NetOne set to get $71m loan

State-owned mobile operator NetOne is close to securing the release of the $71 million loan facility from China Exim Bank to construct and upgrade base stations countrywide.Speaking at the sidelines o...

By Staff reporter | Published: 22 May 2018

FINANCIAL SERVICES

Banks discontinue manual RTGS payments

A NUMBER of financial institutions in Zimbabwe have discontinued manual real-time gross settlement (RTGS) payments, as they go paperless, banking on increasing their efficiencies.Some of these banks i...

By Staff reporter | Published: 22 May 2018

FINANCIAL SERVICES

Old Mutual sets up dividend access trusts

OLD Mutual Limited has established dividend access trusts in Malawi, Namibia and Zimbabwe following the restructuring of the Old Mutual plc group of companies.The managed separation process will see t...

By Staff reporter | Published: 22 May 2018

FINANCIAL SERVICES

Bank employees threaten strike

Workers in the banking sector have issued a two-week ultimatum to their employers demanding a 60% salary increase or they will embark on a strike.The workers, represented by the Zimbabwe Banks and All...

By Staff reporter | Published: 22 May 2018

MINING & RETAIL

Blanket Mine shelves rights offer

CALEDONIA Mining Corporation says it has shelved plans to raise capital for its expansion projects at Blanket Mine through rights issue as funds to support such initiatives are coming through the Expo...

By Staff reporter | Published: 22 May 2018

INDUSTRIALS & ENERGY

Archer Clothing increases workforce

BULAWAYO-based clothing firm, Archer Clothing, has increased its workforce by 66,6 percent to 1 000 workers from 600 last year on the back of improved production.Managing director, Mr Jeremy Youmans, ...

By Staff reporter | Published: 22 May 2018

MINING & RETAIL

Mining sector to grow by 10% this year

THE Chamber of Mines of Zimbabwe (CoMZ) has projected the mining sector to grow by 10 percent this year, on the back of an 8,5 percent expansion last year, driven by improved mineral production and pr...

By Staff reporter | Published: 22 May 2018

TELECOMS & TECHNOLOGY

ZBCtv to introduce new channels

Zimbabwe Broadcasting Corporation (ZBC) will introduce a range of new channels after the completion of digital migration.The channels will bring variety to ZBC's viewers after years of just watching o...

By Ngoni Shenjere | Published: 21 May 2018

BUSINESS NEWS

Zim to hold investment symposium in Canada

Zimbabwe is set to take the investment attraction campaign to Toronto, Canada, where a symposium is scheduled for this June.This comes as the country requires an estimated $11 billion in the next five...

By Staff reporter | Published: 21 May 2018

FINANCIAL SERVICES

Banks consider relaxing lending terms to women

Banks are focusing on increasing the uptake of financial products by women through reviewing lending terms and conditions for opening bank accounts.Information released at a women excel conference ind...

By Staff reporter | Published: 21 May 2018

INDUSTRIALS & ENERGY

Sachikonye appointed Dairibord chairperson

Dairiboard Holdings Limited (DHL) has announced the appointment of Josphat Sachikonye as its new chairperson, effective last Wednesday.He takes over from former Reserve Bank of Zimbabwe (RBZ) governor...

By Staff reporter | Published: 21 May 2018

BUSINESS NEWS

Zim's crocodile industry rises against the tide

Basking in Zimbabwe's northern Zambezi Valley, the Nile crocodile, Africa's largest freshwater predator, is at ease in this hot and humid habitat.Less comfortable, however, are the reptile farmers of ...

By Al Jazeera | Published: 21 May 2018

MINING & RETAIL

Zimbabwe to make catalytic converters

Cypriot investor Karo Resources wants to use some of the output from its planned $4.2 billion platinum project in Zimbabwe to make catalytic converters for capping emissions in diesel cars, the mines ...

By Reuters | Published: 21 May 2018
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