MINING & RETAIL

RioZim to explore for diamonds

ZIMBABWE Stock Exchange-listed miner RioZim expects to start exploration for diamonds this month on its 3 000-hectare piece of land in Chivi, as the group eyes expansion. Chief executive Bhekinkosi Nk...

By Staff reporter | Published: 04 April 2018

MINING & RETAIL

Post-Mugabe Zim mining rush leaves big producers behind

While Zimbabwe's leadership change has sparked a race for the nation's mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach.New President...

By Bloomberg | Published: 03 April 2018

MINING & RETAIL

'Winnerless' trade war, Gold heading to $1,400

Singapore - Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, chief executive officer of Sprott US Holdings, who’s been involved in the mar...

By Bloomberg | Published: 03 April 2018

TRANSPORT & TOURISM

British Airways rejects London-Harare route plea

TOURISM minister Prisca Mupfumira recently approached British Airways (BA) regarding the possibility of direct flights between London and Harare but was turned down by the UK flag carrier, it has emer...

By Staff reporter | Published: 03 April 2018

TRANSPORT & TOURISM

NRZ revival to ease HCCL transport costs

THE revival of the National Railways of Zimbabwe (NRZ) is expected to help Hwange Colliery Company Limited overcome the high costs of transporting coal by road, the company said in its results ending ...

By Staff reporter | Published: 03 April 2018

FINANCIAL SERVICES

Stanbic Bank deposits clock $1.2 billion

STANBIC Bank Zimbabwe has exceeded $1 billion deposits in the financial year ended December 31, 2017.The bank's customers are, however, struggling to settle foreign payments as a result of foreign cur...

By Staff reporter | Published: 03 April 2018

TRANSPORT & TOURISM

Unifreight posts $2,1 million pre-tax profit

ZIMBABWE Stock Exchange listed transport and logistics company Unifreight Africa posted before tax profit of $2,1 million from continuing operations in the year to December 31, 2017. This profit repre...

By Staff reporter | Published: 03 April 2018

CONSTRUCTION & PROPERTY

Masimba projects cautious outlook

LISTED construction company Masimba Holdings has projected a cautious outlook for its operaions in this year on account of persistent foreign currency constraints that are hampering most business oper...

By Staff reporter | Published: 03 April 2018

CONSTRUCTION & PROPERTY

ZPI sells Zimre Centre

ZIMRE Property Investment Limited has sold off its flagship - Zimre Centre in Harare - for $10,8 million with the proceeds earmarked for the development of the Victoria Falls and Bulawayo projects.In ...

By Staff reporter | Published: 03 April 2018

MINING & RETAIL

RioZim ups gold, diamond production

Zimbabwe Stock Exchange-listed resources group, RioZim, says its gold and diamond production significantly went up last year despite struggling to get its foreign currency earnings from the central ba...

By Staff reporter | Published: 03 April 2018

FINANCIAL SERVICES

POSB posts rise in profit

THE People's Own Savings Bank (POSB) posted a profit of $11.3 million for the year ended December  31, 2017 up from $9.6 the previous year.Board chairperson, Mrs Mathilda Dzumbunu, said the posit...

By Staff reporter | Published: 02 April 2018

MINING & RETAIL

Minister Kazembe wants Peak Mine upgraded

Youth, Sport, Arts and Recreation Minister Raymond Kazembe has said Government will engage stakeholders with the view of upgrading Peak Mine Stadium in Shurugwi to meet international standards.Peak Mi...

By Staff reporter | Published: 02 April 2018

MINING & RETAIL

RioZim looks into upgrading ENR

LISTED mining group, RioZim Limited is exploring various ways to upgrade its Empress Nickel Refinery (ENR) as the plant is a strategic asset with potential to contribute significantly to the economy.R...

By Staff reporter | Published: 02 April 2018

FINANCIAL SERVICES

FBC total income up 13%

FBC Financial Holdings has reported a 13 percent growth in total income to $105 million while profit before tax rose by 14 percent to $29.3 million in the year 2017 from $25.7 million recorded in the ...

By Staff reporter | Published: 02 April 2018

TRANSPORT & TOURISM

ZTA intensifies MICE tourism

THE Zimbabwe Tourism Authority (ZTA) has intensified efforts to unlock more meetings and conferences for the country by reinforcing engagements with different associations.The tourism body acknowledge...

By Staff reporter | Published: 02 April 2018

TRANSPORT & TOURISM

ZTA to crack whip on unregistered operators

THE Zimbabwe Tourism Authority (ZTA) will begin a blitz on unregistered tourism operators, as it moves to restore order in the tourism sector.In January, government issued a moratorium for unregistere...

By Staff reporter | Published: 02 April 2018

INDUSTRIALS & ENERGY

Willdale sales volumes increase

Listed brick-making firm, Willdale Limited's sales volumes during the first five months of the financial year 2018 were 13 percent above same period in the prior year and 1 percent above budget on fir...

By Staff reporter | Published: 02 April 2018

FINANCIAL SERVICES

Agribank offers loans on 99-year leases

AGRIBANK has set aside a minimum of $105 million for the 2018-2019 cropping season, which would be extended to farmers on the basis of collateral and 99-year leases.It becomes the first bank to announ...

By Staff reporter | Published: 02 April 2018

BUSINESS NEWS

Zim launches trade facilitation road-map

Government on Thursday launched a five- year Trade Facilitation Roadmap which seeks to simplify, harmonise and modernise export and import processes, among other things.The road-map, which will be imp...

By Staff reporter | Published: 02 April 2018

INDUSTRIALS & ENERGY

Cottco seeks monopoly

The Cotton Company of Zimbabwe has called on Government to reinstate its monopoly on cotton marketing in order to ensure its viability and combat side marketing of the produce. In an interview recentl...

By Staff reporter | Published: 02 April 2018

LANDS & AGRICULTURE

Mberengwa to get citrus plantation

GOVERNMENT is in the process of establishing a citrus plantation at Manyuchi Dam in Mberengwa as one of the anchor projects aimed at producing export quality horticultural products, a senior Governmen...

By Staff reporter | Published: 02 April 2018

FINANCIAL SERVICES

Carry your cross, banks tell 'looters'

BANKERS' Association of Zimbabwe (BAZ) president Charity Jinya absolved banks of any wrongdoing for putting individuals or companies on the externalisers' list, as the concerned parties had ample time...

By Staff reporter | Published: 02 April 2018

INDUSTRIALS & ENERGY

Zimbabwe imports soil from South Africa

ZIMBABWE is splashing millions of dollars importing soil for making bricks, a situation which further puts pressure on the country's dwindling foreign currency reserves, Confederation of Zimbabwe Indu...

By Staff reporter | Published: 02 April 2018

FINANCIAL SERVICES

Banks admit bungling

Banks have admitted to bungling by delaying to acquit CD1 forms on behalf of their clients to the Reserve Bank of Zimbabwe, a situation that has seen some companies being implicated of externalising f...

By Staff reporter | Published: 02 April 2018

TRANSPORT & TOURISM

Easter spikes hotel occupancy

THE call by the Government to create an investor friendly environment has had a huge impact on the tourism sector which is recording a high number of foreign visitors to the country.The Hospitality As...

By Staff reporter | Published: 01 April 2018
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