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

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
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