FINANCIAL SERVICES

NMBZ's 2018 performance likely to be even better

NMBZ Holdings expects its 2018 performance to be even better than last year's, its chief executive, Mr Ben Washaya, told the group's annual general meeting last Thursday (May 24).He said already the o...

TELECOMS & TECHNOLOGY

Telecel saga takes new twist

The topsy-turvy 40 percent ownership saga of Telecel Zimbabwe's shares, which are held by Empowerment Corporation (EC) has taken a new twist amid claims and counterclaims between the local grouping's ...

MINING & RETAIL

Zimbabwe gold producers upbeat

Zimbabwe gold producers say the yellow-metal subsector has potential to rake in millions of dollars in export receipts, but requires a lot of capital to recapitalise operations.The southern African co...

LANDS & AGRICULTURE

Ariston back in the black

Zimbabwe Stock Exchange-listed agricultural concern Ariston Holdings is slowly emerging out of the woods after the company posted a $28 500 profit in the half year to March 31, 2018 compared to a $2 m...

MINING & RETAIL

Hwange managing director resigns

The troubled Hwange Colliery Company Limited managing director Stenjwa Thomas Makore has resigned following a spate of accusation of corruption allegedly involving him.According to a statement by the ...

FINANCIAL SERVICES

Old Mutual Private Equity buys 50% of Medhold

OLD Mutual Private Equity (OMPE) has announced it acquired a 50% interest in South African healthcare firm Medhold Group Proprietary Limited (Medhold) for a yet undisclosed amount, pending approval by...

MINING & RETAIL

ZimAlloys faces $2m lawsuit

AT least 229 employees of the now-defunct Gweru- based ferro-chrome producers, ZimAlloys (Pvt) Ltd, have approached the High Court seeking a court order to institute legal proceedings against their pa...

INDUSTRIALS & ENERGY

Govt, cooking oil firms in talks

Oil processing companies are in negotiations with Government for them to buy soya beans at import parity price of $400 per tonne in a bid to maintain the price of cooking oil and other related product...

FINANCIAL SERVICES

NMB income rose 53%

NMB Bank Zimbabwe operating income rose 53 percent to $19,2 million for the four months to April 30, 2018 driven by growth in interest and non-interest income. Chief executive Benefit Washaya told sha...

FINANCIAL SERVICES

Steward Bank partners Net Guardian to curb card cloning

STEWARD Bank has partnered with Net Guardian fraud monitoring experts for banks worldwide, to implement a fraud monitoring system to ensure security of transactions, in the wake of increased card clon...

MINING & RETAIL

'Mines not opposed to ZSE listing'

Mining firms in Zimbabwe are not opposed to proposals to list their stock on the Zimbabwe Stock Exchange (ZSE), but have stayed away because the bourse is currently 'too thin' to mobilise the kind of ...

TELECOMS & TECHNOLOGY

Zimbabwe lags in innovation, technology

Zimbabwe is lagging in terms of technology after the country only made a paltry 28 patent applications, latest data from the United Nations has shown.The patent applications made by people living in ...

FINANCIAL SERVICES

Zimbabwe courts New York fund managers

The Zimbabwe is open for business mantra has opened economic avenues for the country and to buttress this, the Office of the President and Cabinet (OPC) through its Special Advisor Ambassador Christop...

LANDS & AGRICULTURE

Chamisa to cancel Mnangagwa's command agric

The president of the MDC Alliance Advocate Nelson Chamisa has criticised the Mnangagwa's command agriculture programme saying his government will do away with the scheme and adopt new technologies of ...

LANDS & AGRICULTURE

Zimbabwe to re-launch bubbly production in 2019

AFRICA has always been the continent of the brave and one brave producer is looking to bring back the golden era of Zimbabwe wines, after years of the country being in a depression.The verdant Winelan...

BUSINESS NEWS

Zimbabwe banks go paperless

Like ducks to water, Zimbabwean retail banks are embracing technology to the point of doing away with paper transactions in their banking halls.This week, CABS became the latest institution to ditch p...

Zim's warrant of arrest haunts Chinese tycoon

Chinese national Yat Hoi Ning, who is accused of ripping off a mining company listed in London of US$2,76 million, has scored a lucrative deal from the South African government.In September last year,...

MINING & RETAIL

Cornered Hwange boss negotiates exit package

HWANGE Colliery Company Limited (HCCL)'s suspended managing director Thomas Makore has reportedly opened negotiations for an exit package after the board shelved plans for him to face disciplinary act...

MINING & RETAIL

Chrome output up in first quarter

ZIMBABWE'S chrome ore production increased six fold to 139 562,34 tonnes in the first four months of the year compared to 18 701,70 tonnes produced during the same period last year, official figures s...

TRANSPORT & TOURISM

NRZ narrows salary arrears

THE National Railways of Zimbabwe (NRZ) is now paying its workers 90 percent of their full salaries up from 50 percent in recent months driven by improved business operational efficiency.The parastata...

INDUSTRIALS & ENERGY

Proplastics maintains strong performance

PLASTIC pipes and fittings manufacturer, Proplastics Limited had a strong performance in the first four months of the year to April 2018 with revenue coming out 86 percent ahead of same period last ye...

INDUSTRIALS & ENERGY

Borrowings plague Nampak

Zimbabwe Stock Exchange listed packaging company Nampak Zimbabwe (Nampak) remains troubled by a $9,3 million short-term borrowings relating to a facility owed to parent Nampak International Holdings.A...

FINANCIAL SERVICES

Court lifts ban on cryptocurrencies

CRYPTOCURRENCY exchange giant, Bitfinance (Private) Limited, which was last week banned from operating in Zimbabwe, will now resume its business with the blessings of the High Court.High Court judge J...

INDUSTRIALS & ENERGY

RioZim to sell majority stake in Sengwa plant

RioZim Limited intends to sell majority shareholding to an investor who wins its tender to construct an ambilion thermal power station in Sengwa, Gokwe North, according to company sources. ZSE listed ...

TELECOMS & TECHNOLOGY

Swipe into EcoCash service available

ECONET Wireless Zimbabwe (Private) Limited, the parent company of EcoCash and Steward Bank, advised its customers and the transacting public on Tuesday that the Swipe into EcoCash service was availabl...