TELECOMS & TECHNOLOGY

Econet slams greedy agents

Mobile telecommunication company Econet Wireless Zimbabwe has disowned agents who are charging punitive rates to the transacting public.A snap survey by The Herald in Mutare showed that some unscrupul...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

Agribank posts $8m profit

AGRIBANK has recorded a profit after tax of $7,9 million for the year to December 31, 2017, representing a 65 percent jump compared to 2016 driven by a surge in non-interest income.Non-interest income...

By Staff reporter | Published: 29 March 2018

MINING & RETAIL

Edgars defies economic odds

Clothing retailer Edgars Stores recorded a 25 percent increase in merchandise sales to $62, 8 million in the year to December 31, 2017, from $50,3 million despite economic challenges. Group chairperso...

By Staff reporter | Published: 29 March 2018

CONSTRUCTION & PROPERTY

Dawn Properties profits up 200%

Listed property firm, Dawn Properties, yesterday said its profits went up by 200 percent to $3 million in the full year to December 2017 due to improved rental collections. The group's chairperson, Ph...

By Staff reporter | Published: 29 March 2018

TRANSPORT & TOURISM

RTG eyes 500 listings on its homestay app

RAINBOW Tourism Group (RTG) Limited chief executive officer, Tendai Madziwanyika says the company is targeting 500 home owners, who want to register their properties on their RTG Gateway application f...

By Staff reporter | Published: 29 March 2018

FINANCIAL SERVICES

Stanbic offers 50% home equity loans

STANBIC Bank Zimbabwe is offering 50 percent home equity loans that allow home owners to move from one level of financial freedom to another.This comes as financial institutions are creating financing...

By Staff reporter | Published: 29 March 2018

TRANSPORT & TOURISM

ZTA intensifies drive to grow MICE tourism

THE Zimbabwe Tourism Authority, through its National Convention Bureau (NCB), has intensified its efforts to unlock more meetings and conferences for the destination by reinforcing its engagement of a...

By Staff reporter | Published: 29 March 2018

TELECOMS & TECHNOLOGY

Zimpapers going to war with DStv and Kwese

In January the Broadcasting Authority of Zimbabwe (BAZ) called for interested parties to submit licence applications for; Video On Demand Services (VoD), Webcasting Services and Content Distribution S...

By Staff reporter | Published: 29 March 2018

TELECOMS & TECHNOLOGY

Naspers turns down $1bn offer for MultiChoice

Naspers the parent company of Multichoice has rejected an offer made by Vivendi to purchase part of MultiChoice (excluding the South African operations.Naspers is reported to have received several bid...

By Staff reporter | Published: 28 March 2018

MINING & RETAIL

Bikita Minerals invests more in lithium

Bikita Minerals is currently assaying rock samples for high-grade lithium concentrate (spodumene) reserves, which, if confirmed, will help turn the mine into a big money spinner.The world's sole comme...

By Staff reporter | Published: 28 March 2018

FINANCIAL SERVICES

CBZ loan book grows to $941 million

THE country's leading financial institution, CBZ Bank, has grown its overall loan book to about $941 million as it continues to support different sectors of the economy, an official has said.Speaking ...

By Staff reporter | Published: 28 March 2018

TELECOMS & TECHNOLOGY

Powertel now in Kariba

POWERTEL, a wholly-owned technological wing of Zesa Holdings, has launched its services in Kariba as part of its 100-day rapid results initiative target.The company's marketing manager Prosper Mutswir...

By Staff reporter | Published: 28 March 2018

MINING & RETAIL

Golden Quarries Mine resumes operations

SHURUGWI-based Golden Quarries Gold Mine, a subsidiary of Falcon Gold, has resumed operations after having its water and electricity reconnected following Government intervention.The mine stopped oper...

By Staff reporter | Published: 28 March 2018

LANDS & AGRICULTURE

Matsaira calls it a day at TSL

TSL group chief executive officer Washington Matsaira, is leaving the agro-focused conglomerate after six years of steering the ship. The announcement was made yesterday by board chairperson Antony Ma...

By Staff reporter | Published: 28 March 2018

TRANSPORT & TOURISM

CAAZ board incompetent

Parliament's Transport and Infrastructural Development portfolio committee has slammed the Civil Aviation Authority of Zimbabwe (Caaz) board, saying it comprises people without aviation knowledge and ...

By Staff reporter | Published: 27 March 2018

TRANSPORT & TOURISM

Air Zimbabwe nears collapse

So bad has the financial and operational rot ravaging Air Zimbabwe become, that the flag carrier can now barely manage to ferry its domestic and international passengers - who are increasingly endurin...

By Staff reporter | Published: 27 March 2018

FINANCIAL SERVICES

Old Mutual records $219m profit

Integrated financial services group, Old Mutual Zimbabwe Limited (OM) said its profit after tax went up 139 percent to $219 million in the full year to December 31, 2017 from $91,8 million due to impr...

By Staff reporter | Published: 27 March 2018

CONSTRUCTION & PROPERTY

Zimre signs Pick n Pay as anchor tenant

Diversified financial services group, Zimre Holdings Limited, has entered into a deal with TM/Pick n Pay that will see one of the country's leading retailers becoming an anchor tenant in the insurance...

By Staff reporter | Published: 27 March 2018

MINING & RETAIL

Bikita Minerals to increase petalite production

BIKITA Minerals plans to increase petalite production by 74 percent by the end of the year from an average of 46 000 tonnes annually on the back of the company's $10 million recapitalisation project.P...

By Staff reporter | Published: 27 March 2018

TELECOMS & TECHNOLOGY

Potraz intends to build 500+ mobile phone towers

THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) is presently working on a $250 million project to build mobile phone towers at under-served areas in the country, a Cabinet ...

By Staff reporter | Published: 27 March 2018

MINING & RETAIL

Shurugwi sues Unki Mine over arbitration award

THE Shurugwi Town Council has sued Unki Mines and arbitrator, Ahmed Ebrahim over an arbitration award compelling the local authority to grant ownership of a piece of land outside council's jurisdictio...

By Staff reporter | Published: 27 March 2018

INDUSTRIALS & ENERGY

Willowton to set up $20m plant in Mutare

Cooking oil manufacturer, Willowton Group is set to put up a new $20 million crushing plant at its operations in Mutare as part of expansion plans intended to strengthen its market presence in the cou...

By Staff reporter | Published: 27 March 2018

MINING & RETAIL

Zimbabwe to ensure clarity over mining policy

Zimbabwe, home to the world's second-largest reserves of platinum group metals, will ensure there's clarity over mining policy as the southern African nation seeks to attract investment, according to ...

By Bloomberg | Published: 26 March 2018

FINANCIAL SERVICES

POSB eyes one million clients

THE People's Own Savings Bank (POSB) says it is targeting to increase its depositors to one million before the end of this year as part of its five-year strategic plan.Addressing chief executives from...

By Staff reporter | Published: 26 March 2018

FINANCIAL SERVICES

'Banks de-risk, invest in TBs'

PARLIAMENT's Budget Office says banks have reduced lending to the private sector, choosing instead to de-risk by investing in secure Government instruments such as Treasury Bills.Increased lending to ...

By Staff reporter | Published: 26 March 2018
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