MINING & RETAIL

Mphoko booted out of Choppies?

THE battle for the control of supermarket chain, Choppies Zimbabwe, pitting former vice-president Phelekezela Mphoko's family and its foreign business partners has taken a nasty turn after the Botswan...

By Staff reporter | Published: 25 November 2018

MINING & RETAIL

Hwange saga spills to High court

The government has finally applied for a court order to place Hwange Colliery Company Limited (HCCL) under administration, almost a month after announcing that the giant miner had been put under recon...

By Staff reporter | Published: 25 November 2018

BUSINESS NEWS

Power generation to improve

WORK on the much anticipated $5,2 billion Batoka Gorge Hydro Electricity project will soon commence after President Mnangagwa met officials from the main contractors, General Electric and Power China ...

By Staff reporter | Published: 25 November 2018

BUSINESS NEWS

Top forex earners to spur Zimbabwe revival

IMPROVED production of the country's two top foreign currency earning commodities, tobacco and gold is likely to be a springboard to the country's economic turnaround.Captains of industry and economis...

By Staff reporter | Published: 25 November 2018

MINING & RETAIL

New twist to Makomo, Zambezi Gas coal field feud

The coal claims feud pitting Zambezi Gas and Makomo Resources has taken a new twist, amid reports that there may have been an "error" in the former's special grant.Zambezi Gas says its special grant g...

By Staff reporter | Published: 25 November 2018

TRANSPORT & TOURISM

Air Zimbabwe revival timeline set

Air Zimbabwe administrator Reggie Saruchera, has said they expect the revival of the national airliner to come full circle by May 30, 2019. Saruchera, a managing partner at Grant Thornton and Camelsa,...

By Staff reporter | Published: 23 November 2018

BUSINESS NEWS

Surging inflation ravages economy

Zimbabwean business are reeling from a worsening double whammy of runaway inflation and rising input costs, which are threatening to snuff out the country's economic recovery prospects. The recent ala...

By Staff reporter | Published: 22 November 2018

MINING & RETAIL

Premier in debt-equity deal with director

Premier African Minerals says it has converted a $300 000 loan availed by chief executive George Roach into equity. Last week, the company's board agreed to amend terms of the existing loan agreement ...

By Staff reporter | Published: 22 November 2018

TRANSPORT & TOURISM

Africa Albida enjoys 'busiest year ever' as tourists return

Hospitality group Africa Albida Tourism (AAT) says it is enjoying its busiest year ever, with occupancies at its flagship property Victoria Falls Safari Lodge enjoying occupancies of over 80% over the...

By Staff reporter | Published: 22 November 2018

MINING & RETAIL

RioZim sues RBZ over US$ payments

Resources group, RioZim, has sued the central bank to force it to pay over $92 million it claims is owed dating back to 2016 in a case that highlights the acute dollar shortages blighting the southern...

By Staff reporter | Published: 22 November 2018

TRANSPORT & TOURISM

22 investors eye struggling Zupco

LOCAL Government minister July Moyo yesterday told Parliament that 22 investors from local and abroad had expressed interest in struggling State-owned transport operator, Zimbabwe United Passenger Com...

By Staff reporter | Published: 22 November 2018

MINING & RETAIL

2018 mining output up

ZIMBABWE'S mining sector improved production in 2018, with average capacity utilisation going up to 75 percent from 71 percent in 2017, an industry report released this week shows. However, this was i...

By Staff reporter | Published: 22 November 2018

LANDS & AGRICULTURE

Agro sector gets 15% salary raise

Workers in the agro sector - those who process agricultural produce - have been awarded a 15 percent wage increase. The National Employment Council for agricultural industry of Zimbabwe chief executiv...

By Staff reporter | Published: 22 November 2018

TELECOMS & TECHNOLOGY

Kwesé iflix hits 5 million users in Zimbabwe

Media streaming service, Kwesé iflix, now has more than 5 million users in Zimbabwe and continues to grow rapidly, according to Econet Wireless Zimbabwe CEO Mr Douglas Mboweni. He said the platform h...

By Staff reporter | Published: 22 November 2018

MINING & RETAIL

Bikita Minerals to beneficiate lithium

Zimbabwe's sole lithium producer, Bikita Minerals, has set its sights on beneficiating the mineral in a development that is expected to rake in more foreign currency for the country in line with Gover...

By Staff reporter | Published: 22 November 2018

TRANSPORT & TOURISM

'Zim Airways not part of Air Zimbabwe'

Zimbabwe Airways is a completely different and  autonomous entity from Air Zimbabwe and is therefore not part of the reconstruction process, Ministry of Transport of Infrastructure Development Ac...

By Staff reporter | Published: 22 November 2018

MINING & RETAIL

Lithium project to earn Zimbabwe $3bn

Australia Stock Exchange (ASX) listed Prospect Resources Plc says its Arcadia Lithium project, located 38 kilometres east of Harare, has proven capacity to generate nearly $3 billion in export revenue...

By Staff reporter | Published: 22 November 2018

INDUSTRIALS & ENERGY

Cassava modeled around giant Chinese company Tencent

The vision behind Cassava Smartech is to create a technology company similar to China's Tencent, according to Cassava Group CEO, Mr Darlington Mandivenga.Tencent, one of the largest companies in the w...

By Staff reporter | Published: 21 November 2018

MINING & RETAIL

AAG wades into Hwange salaries saga

The Affirmative Action Group (AAG) has written to the new Hwange Colliery Company(HCCL) administrator Bekithemba Moyo seeking audience with him over the unpaid employees.Employees are reportedly owed ...

By Staff reporter | Published: 21 November 2018

INDUSTRIALS & ENERGY

Pepsi to double production in Zimbabwe

Pepsi to double productionIndian soft drinks manufacturer, Varun Beverages has said it is doubling production at its recently-commissioned $40 million Pepsi manufacturing and bottling plant in Harar...

By Staff reporter | Published: 21 November 2018

TRANSPORT & TOURISM

Cyclist sues bus company for $67,000

A BULAWAYO cyclist, who was injured in an accident involving an Inter-Africa (Mukumba Brothers)-owned bus in 2015, has filed a $67 000-lawsuit against the company at the Bulawayo High Court.The accide...

By Staff reporter | Published: 21 November 2018

TRANSPORT & TOURISM

Zupco wants govt to warehouse $16,1m debt

The Zimbabwe United Passenger Company (Zupco) is saddled with a $16,1 million debt and now wants government to warehouse it so that it can work on a turnaround strategy for the bus operator now runnin...

By Staff reporter | Published: 21 November 2018

BUSINESS NEWS

GMB deliveries improve to 1,14mt

THE Grain Marketing Board (GMB) has received a total of 1,14 metric tonnes (mt) of maize as at November 1, 2018, a report has noted.According to a report prepared by the Justice Mayor Wadyajena-led Po...

By Staff reporter | Published: 21 November 2018

MINING & RETAIL

Zimbabwe army has shares in GDI

ZIMBABWE Mining Development Corporation (ZMDC) board chairperson Peter Chimboza on Monday disclosed to Parliament that the army has 30% shareholding in the Great Dyke Investment (GDI) mining company.C...

By Staff reporter | Published: 21 November 2018

FINANCIAL SERVICES

MFIs post $9,8m profit despite tough economic environment

DESPITE the tough economic environment, credit microfinance institutions (MFIs) posted $9,8 million profit in the first nine months of 2018 on the back of increased demand for micro loans by individua...

By Staff reporter | Published: 21 November 2018
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