INDUSTRIALS & ENERGY

Eat n' Lick opens their newest outlet in Kwekwe

One of the country's fastest-growing fast food retail outlet, Eat n' Lick has embarked on a massive expansion drive, with the opening of a new branch in Kwekwe to increase its market share in the sect...

By Ngoni Shenjere | Published: 17 May 2018

INDUSTRIALS & ENERGY

RioZim evaluating Zimbabwe power plant bids

Zimbabwean miner RioZim Ltd. is evaluating proposals from six companies to participate in its $1.2 billion power project, as the nation enjoys a return of foreign-investor attention under President Em...

By Bloomberg | Published: 17 May 2018

FINANCIAL SERVICES

Cell Insurance spreads wings

CELL Insurance Group is planning to open two additional health facilities before year-end as part of efforts to spread its reach across the country, The Financial Gazette has reported.Addressing deleg...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Pepsi set to eat into Delta market share

DELTA Corporation's sparkling beverages market share could decline during the current reporting season following the coming on stream of a Pepsi plant early this year, an analysis on the company's out...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

$200m siphoned from Hwange

A KEY shareholder in the Zimbabwe Stock Exchange-listed coal mining giant Hwange Colliery Company Limited has raised the red flag over its multimillion-dollar coal gasification project, amid claims th...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Hwange Colliery proposes 1 300 job cuts

HWANGE Colliery Company Limited (HCCL) shareholders toyed with the idea of cutting 1 300 jobs to save the company two years ago, a report has said.Minutes of two-day meetings of major shareholders hel...

By Staff reporter | Published: 17 May 2018

BUSINESS NEWS

Zim struggling with foreign payments backlog

ZIMBABWE'S foreign payments backlog has risen to over $600 million from $570 million in September last year, central bank governor John Mangudya has said.The governor dismissed assertions from pockets...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Auto Tyres retrenches as revival fails

AUTO Tyres Zimbabwe has retrenched its entire staff after efforts to recapitalise the company, which stopped operations in 2016, failed, The Financial Gazette reported.A notice seen by The Financial G...

By Staff reporter | Published: 17 May 2018

TELECOMS & TECHNOLOGY

Golix to raise $32m through a token sale

Bitcoin was trading locally at a premium to prices obtaining on cryptocurrency exchanges outside of Zimbabwe.Bitcoin was trading locally at a premium to prices obtaining on cryptocurrency exchanges ou...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Competition hots up in beverages sector

COMPETITION in Zimbabwe's beverages sector is set to intensify this year after the opening of Varun Beverages' Pepsi bottling plant in Harare.IH Securities said the beverages spaces, which is dominate...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Caledonia cash flow up 296%

LONDON Stock Exchange-listed resources firm, Caledonia Mining Corporation (Caledonia), says its cash from operating activities surged by 296 percent to $7 million in the first quarter from $1,77 milli...

By Staff reporter | Published: 17 May 2018

LANDS & AGRICULTURE

Farm workers demand 100% salary hike

THE Progressive Agriculture and Allied Industries Workers' Union of Zimbabwe (Paawuz) has asked the government to increase the minimum wage for farm workers by at least 100% to $150 per month, saying ...

By Staff reporter | Published: 17 May 2018

BUSINESS NEWS

SA frozen chicken imports continue

DESPITE a chicken import ban, data from the South African Revenue Services shows that over 1 000 tonnes of frozen chicken and offals were exported by that country to Zimbabwe from 2017.The Livestock,...

By Staff reporter | Published: 17 May 2018

LANDS & AGRICULTURE

TIMB rolls out $70m inputs facility

TOBACCO Industry and Marketing Board (TIMB) is set to roll out a $70 million input facility scheme ahead of the 2018/19 season to boost production of the golden leaf.TIMB spokesperson, Isheunesu Moyo ...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Small scale miner sues Zimasco over gold claim

A SHURUGWI-BASED small-scale gold miner, Florence Mbizo, has taken the Zimbabwe Mining and Smelting Company (Zimasco), to court for allegedly encroaching into her mining claim.According to the court p...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Global firm hired for Arcadia Lithium project

AUSTRALIA-listed junior miner, Prospect Resources, has appointed global engineering firm DRA to provide engineering services and upfront design for its Arcadia Lithium project.In February, Prospect Re...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

ZimAlloys pushes for Balasore deal cancellation

Zimbabwe Alloys Ltd has appealed the High Court judgment stopping the local ferrochrome producer from terminating the $90 million take-over bid by an Indian firm, Balasore Alloys as the tussle over th...

By Staff reporter | Published: 17 May 2018

INDUSTRIALS & ENERGY

Dairibord revenue up 17% in Q1

Dairy and food processor, Dairibord Holdings' performance in the four months to April was above the same period last year with revenue growth at 17 percent ahead of prior year.In a trading update to s...

By Staff reporter | Published: 17 May 2018

MINING & RETAIL

Tharisa acquires a 90% of Salene Chrome Zim

Tharisa has acquired a 90% shareholding in Salene Chrome Zimbabwe (Pvt) Limited ('Salene') at the par value thereof from the Leto Settlement Trust ('Leto'), a related party being the beneficial shareh...

By SENS | Published: 16 May 2018

TELECOMS & TECHNOLOGY

Golix traded $20 million, has 50 000 clients

ZIMBABWE'S cryptocurrency exchange, Golix, says it has traded more than $20 million to date and is looking forward to opening exchanges in more African countries as well as expanding the portfolio of ...

By Staff reporter | Published: 16 May 2018

FINANCIAL SERVICES

$28m in benefits lie unclaimed, says IPEC

THE Insurance and Pension Commission of Zimbabwe (Ipec) says pension funds have more than $28 million worth of unclaimed benefits, a symptom of lack of knowledge, which is one of the problems burdenin...

By Staff reporter | Published: 16 May 2018

INDUSTRIALS & ENERGY

Leather cluster shoe factory begins operations

THE Bulawayo leather cluster shoe factory has started operating, with a new product line expected to hit the market soon.Cluster secretary, Mr Fungai Zvinondiramba, said they were in talks with a numb...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Zimbabwe proposes new gold policy

MINES and Mining Development Minister Winston Chitando says a new gold development policy is being formulated to assist artisanal and small-scale miners to ramp up production.The new policy document w...

By Staff reporter | Published: 16 May 2018

MINING & RETAIL

Caledonia wants bigger stake in Blanket Mine

AIM-listed Caledonia Mining Corporation plans to increase its stake in Gwanda-based gold producer, Blanket Mine, following recent amendments to the Indigenisation and Economic Empowerment Act by Gover...

By Staff reporter | Published: 16 May 2018

LANDS & AGRICULTURE

Command Livestock registration begins

Government has started registering farmers who will benefit from the Command Livestock scheme in Beitbridge district, the district agriculture extension officer Mr Masauso Mawocha has said. Mr Masauso...

By Staff reporter | Published: 16 May 2018
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