MINING & RETAIL

Picketing Hwange workers' wives vow to stay put

WOMEN rights groups in Harare yesterday demonstrated in solidarity with spouses of Hwange Colliery workers, who have been picketing at the company premises since January over their husbands' unpaid sa...

By Staff reporter | Published: 11 May 2018

MINING & RETAIL

Monthly gold output glitters

ZIMBABWE'S gold output for the month of April increased to 2,9 tonnes from 2,7 tonnes the previous month driven by a rise in deliveries from small-scale miners, Fidelity Printers and Refineries (FPR) ...

By Staff reporter | Published: 11 May 2018

TRANSPORT & TOURISM

Tourism sector gets salary increase

EMPLOYERS in the tourism sector have offered a five percent basic salary increase, which will see the lowest paid grade earning $128 per month excluding other perks.The increase followed protracted co...

By Staff reporter | Published: 11 May 2018

MINING & RETAIL

Forex shortages derail SMM turnaround plan

SHABANIE Mashava Mines' (SMM) turnaround efforts have been hampered by foreign currency shortages as the company seeks to acquire de-watering equipment at its mines in Mashava and Zvishavane.The asbes...

By Staff reporter | Published: 11 May 2018

MINING & RETAIL

ZimAlloys deal still alive

Indian firm Balasore Alloys said yesterday the deal to acquire 70 percent shareholding in Zimbabwe Alloys Limited was still on despite claims by judicial manager Reggie Saruchera this week that he had...

By Staff reporter | Published: 11 May 2018

FINANCIAL SERVICES

Zimpost scoops gold award at ZITF 2018

The newly branded Zimpost scooped a gold medal at the just ended Zimbabwe International Trade Fair held from April 23 to 28 2018 in Bulawayo. Zimpost came first in the Best Exhibit: Packaging, Plastic...

By Staff reporter | Published: 11 May 2018

TELECOMS & TECHNOLOGY

Schools defy Govt on mobile money transfers

SOME schools in Mutare are resisting fees payments through mobile money transfers despite a directive by the parent ministry that they acquire merchant codes and cushion parents from the cash crisis, ...

By Staff reporter | Published: 11 May 2018

TRANSPORT & TOURISM

Tensions mount over Air Zimbabwe saga

Tensions between senior Air Zimbabwe officials, the Transport ministry and ZimAirways are mounting after minister Jorum Gumbo recently blocked the convening of a disciplinary hearing against three eng...

By Staff reporter | Published: 11 May 2018

TELECOMS & TECHNOLOGY

Govt mulls Telecel 100% takeover

Government which has 60% shareholding at Telecel Zimbabwe, has made a decision not to sell part of its stake to investigators interested in the telecommunications company, but instead, buy off the min...

By Staff reporter | Published: 11 May 2018

FINANCIAL SERVICES

New rules to shake up insurance sector

Players in the local insurance industry will in three years' time be required to adopt a new version of the International Financial Reporting Standard 17 issued by the IASB. The new rules are expected...

By Staff reporter | Published: 11 May 2018

INDUSTRIALS & ENERGY

Delta, Coca-Cola still negatiating over notice of termination

Zimbabwe Stock Exchange (ZSE) listed blue chip counter Delta Beverages says negotiations are still ongoing with the Coca-Cola Company following a notice issued last year to terminate its bottling agr...

By Staff reporter | Published: 11 May 2018

INDUSTRIALS & ENERGY

Delta Corporation posts profit up 27%

Zimbabwe's largest brewer Delta Corporation reported a 27 percent jump in full-year profit to $89 million on Wednesday, after strong sales of beer and soft drinks in the second half of its financial y...

By Reuters | Published: 10 May 2018

FINANCIAL SERVICES

Mswaka named Stockbrokers Association chair

VETERAN stockbroker, Bartholomew 'Bart' Mswaka, has been announced as the Stockbrokers Association of Zimbabwe's new chairperson.Mswaka takes over from FBC Stockbroking managing director Ben Gasura.Ba...

By Ngoni Shenjere | Published: 10 May 2018

FINANCIAL SERVICES

New accounting rules set to shake up banking sector

NEW accounting rules introduced in January this year to force banks to estimate future credit losses are likely to have a significant impact on the country's financial institutions, accountants have n...

By Staff reporter | Published: 10 May 2018

TELECOMS & TECHNOLOGY

Data usage grows by 89.8%

DATA usage increased by 89,8 percent to 15,4 million megabytes (MB) in 2017 from 8,1 million MB in 2016, the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has revealed.POTRAZ...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Banks collateral overrated, says Mukupe

LOCAL banks have been urged to remove collateral as a condition for extending lines of credit to entrepreneurs.Finance and Economic Development deputy minister Terrence Mukupe called on banks to be ac...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Ecobank cost to income ratio lowest

ECOBANK Zimbabwe recorded the lowest cost to income ratio among the banks that announced financial results for the year to December 31, 2017, an analysis by Old Mutual Securities (OMSEC) has revealed....

By Staff reporter | Published: 10 May 2018

TELECOMS & TECHNOLOGY

Zimpost rebrands, goes digital

ZIMBABWE'S main postal services provider, Zimpost, has rebranded and unveiled new products and services along with a fresh logo.The new logo, products and services were unveiled at this year's Zimbabw...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Zimbabwe lending rates too high

ZIMBABWE's high cost of borrowing, which is much higher than in regional economies, is rendering the country's products uncompetitive, a Zimbabwe Economic Policy Analysis and Research Unit (ZEPARU) re...

By Staff reporter | Published: 10 May 2018

MINING & RETAIL

Vast mulls Zimbabwe expansion

AIM-listed mining company Vast Resources (Vast) says it plans to invest significantly in its operating mines in Zimbabwe and Romania.This was after the miner, which operates Pickstone-Peerless Gold M...

By Staff reporter | Published: 10 May 2018

INDUSTRIALS & ENERGY

Mochachos launches in Zimbabwe

SOUTH African fast food franchise Mochachos officially launched in the Zimbabwe yesterday operating under the Splash Group.Splash acquired the franchise for local operations last year.Speaking to News...

By Staff reporter | Published: 10 May 2018

BUSINESS NEWS

Econet bags global, national awards

Econet Wireless Zimbabwe has demonstrated its stellar organisational capabilities by bagging top global and national awards for outstanding human capital development.The company was recently awarded t...

By Staff reporter | Published: 10 May 2018

MINING & RETAIL

Coal miners cry foul over mining fees

COAL miners in Hwange have cried foul over government's exorbitant land rental fees, which they claimed frustrated development in the mining sector.Peter Mutsinya, chief executive officer of Liberatio...

By Staff reporter | Published: 10 May 2018

MINING & RETAIL

Sino-Zim Cement pins hopes on public projects

GWERU-based cement manufacturer, Sino Zimbabwe Cement Company (SZCC), hopes for improved turnover once infrastructural development deals signed between Zimbabwe and China take off.SZCC is a joint vent...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Bankers elect new president, deputy

THE Bankers Association of Zimbabwe (BAZ) has elected FBC Bank managing director, Mr Webster Rusere, as its president taking over from Dr Charity Jinya. He would lead the organisation for two years an...

By Staff reporter | Published: 10 May 2018
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