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

TRANSPORT & TOURISM

Zimbabwe eyes $7bn tourism export earnings

Zimbabwe seeks a seven-fold growth in tourism export earnings - as much as $7 billion by 2030 - to be achieved through effective marketing, product development and facilitation and access, a strategy ...

By Staff reporter | Published: 01 April 2018

MINING & RETAIL

Sabi Gold Mine targets increased production

The government owned Sabi Gold Mine is projecting a 58 percent rise in production this year following the injection of fresh capital by a new investor.The injection of fresh capital in the mine by a n...

By Staff rpeorter | Published: 01 April 2018

INDUSTRIALS & ENERGY

MedTech warns of medicines shortage

PHARMACEUTICALS manufacturing firm, MedTech Holdings, has warned of a looming drugs shortage after it failed to access foreign currency from the Reserve Bank of Zimbabwe (RBZ) to import critical medic...

By Staff reporter | Published: 31 March 2018

FINANCIAL SERVICES

NMBZ plans to maintain LSE listing

NMBZ Holdings says it will maintain its listing on the London Stock Exchange (LSE) because it is one of its biggest platforms for raising cash.NMBZ is listed on the Zimbabwe Stock Exchange and the LSE...

By Staff reporter | Published: 31 March 2018

FINANCIAL SERVICES

Stanbic Bank posts impressive profits

STANBIC Bank Zimbabwe has shrugged off the prevailing harsh economic environment to post an impressive set of results for the year ended December 2017 headlined by a profit after tax of $27.6 million,...

By Staff reporter | Published: 30 March 2018

INDUSTRIALS & ENERGY

Zimpapers revenue up 4%

ZIMPAPERS says revenue for the full year to December 31, 2017, rose 4 percent to $39,1 million, largely driven by growth in broadcasting and the commercial printing division.While the newspaper divisi...

By Staff reporter | Published: 30 March 2018

TELECOMS & TECHNOLOGY

NetOne unveils wi-fi devices

NETONE has donated One-Fi devices to rural district councils to enhance payment to traditional leaders through its Mobile Financial Service platform, OneMoney.Many Rural District Councils are paying v...

By Staff reporter | Published: 30 March 2018

INDUSTRIALS & ENERGY

Financiers interested in Batoka Gorge power project

Zambia and Zimbabwe plan to start construction of a $4 billion power-plant complex that will supply both nations next year.The African Development Bank is advising the Zambezi River Authority on raisi...

By Bloomberg | Published: 29 March 2018

TELECOMS & TECHNOLOGY

Mnangagwa's son-in law was acting as a proxy

A RENEWED ownership wrangle has erupted over the country's third-largest mobile network operator, Telecel Zimbabwe, following the return of self-exiled businessman and co-founder James Makamba after 1...

By Staff reporter | Published: 29 March 2018

TRANSPORT & TOURISM

Air Zimbabwe scandal deepens

THE dodgy project involving Air Zimbabwe (AirZim) and new airline Zimbabwe Airways is getting murkier, amid allegations that some senior government officials are deliberately sabotaging the debt-ridde...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

RBZ moves to protect mobile money users

THE Reserve Bank of Zimbabwe (RBZ) has amended the National Payment Systems Act to prevent close to five million mobile money subscribers from losing their money should network operators (MNOs) collap...

By Staff reporter | Published: 29 March 2018

MINING & RETAIL

Zimbabwe mining deals must be scrutinised

THE US$4,2 billion platinum investment deal between government and Cyprus-based company Karo Resources, although positive at face value, needs to be scrutinised to ensure transparency and avoid corrup...

By Staff reporter | Published: 29 March 2018

MINING & RETAIL

Zimbabwe to tighten screws on mineral shipments

ZIMBABWE will this year set up a metallurgical laboratory to determine the exact value and quality of mineral export shipments, particularly the platinum group of metals (PGMs), businessdigest reporte...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

Forex scarcity derails Old Mutual project

CONSTRUCTION of Old Mutual's US$21,4 million small-to-medium enterprises (SMEs) complex, which was initially set to be finalised during this year's first half, will be delayed owing to the debilitatin...

By Staff reporter | Published: 29 March 2018

CONSTRUCTION & PROPERTY

Zimre targets US$80m to cement capital base

Zimre Holdings Limited (ZHL) says it is targeting to raise, through its subsidiary, Emeritus International, in excess of US$80 million through the first phase of a private placement, which will enable...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

Royal Bank directors to face claim

THE High Court has cleared the way for a civil claim against the directors of Royal Bank of Zimbabwe for alleged gross negligence and mismanagement, which the liquidator says resulted in the collapse ...

By Staff reporter | Published: 29 March 2018

TELECOMS & TECHNOLOGY

EcoCash linked to NetOne, Telecel numbers

ECOCASH's data application is now compatible with NetOne and Telecel numbers, a spokesman for the mobile money service told The Financial Gazette last week.He said holders of lines from other networks...

By Staff reporter | Published: 29 March 2018

TRANSPORT & TOURISM

Vic Falls threaten to take action against Legacy Hotels

VICTORIA Falls councillors have threatened to take action against two leading Legacy Hotels in Victoria Falls who owe the municipality nearly $200 000 in unpaid water and rates.Speaking at a full coun...

By Staff reporter | Published: 29 March 2018

MINING & RETAIL

Ex-Zisco workers eager for Debt Assumption Bill

Hundreds of people the majority of them, laid off Ziscosteel employees, yesterday thronged Kwekwe Theatre and Ziscosteel club in Redcliff where they rallied behind Government's proposed take-over of t...

By Staff reporter | Published: 29 March 2018

MINING & RETAIL

Edgars on sound financial footing

ZMBABWE Stock exchange listed company, Edgars Stores Limited, continues to consolidate its sound financial footing after reducing borrowings to $4.6 million in the financial year ended January 7, 2018...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

Agribank eyes external credit lines

AGRIBANK is in discussions to secure an external line of credit from a foreign institution to bolster its support to the agricultural sector beyond the $105 million allocated this year.This comes as t...

By Staff reporter | Published: 29 March 2018
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