MINING & RETAIL

Metallon Gold eyes output growth

ZIMBABWE'S largest gold producer Metallon Gold Zimbabwe plans to grow output seven fold within the next two years to 70 000 tonnes per month after spending as much as $12 million to increase productio...

MINING & RETAIL

Amplats CEO seeks friendlier Zim mining laws

Zimbabwe must offer foreign miners a consistent legal framework, the right to keep a controlling stake in operations and a greater share of profits to encourage investment, the head of Anglo American ...

TELECOMS & TECHNOLOGY

Zimbabwe Airways dropped in favour of Air Zim

The Zimbabwean Government has pulled the plug on the now stillborn Zimbabwe Airways project with Minister of Transport Joram Gumbo having now decided to focus on resuscitating the moribund Air Zimbabw...

MINING & RETAIL

Zimplats records 30% increase in net profit

ZIMPLATS reported a 30 percent increase in net profit to $21 million for the six months to December, 2017 from $16,2 million in the comparable period last year buoyed by higher prices.Revenue increase...

TELECOMS & TECHNOLOGY

NetOne appoints new bosses

STATE-OWNED telecommunications company, NetOne, has recruited two top executives to run the company's operations in a move expected to stabilise the firm and increase its earnings.In a statement yeste...

MINING & RETAIL

Hwange seeks $500m recapitalisation

HWANGE Colliery Company Limited (HCCL) needs $500 million to fully recapitalise its operations and working capital of $5 million per month to maintain its status as a going concern.Briefing members of...

MINING & RETAIL

RioZim requires $125m for Murowa diamonds

At least $125 million is required to extend the lifespan of Murowa Diamond Mine by an additional three years, and to push output beyond one million carats per annum, an official said yesterday. Murowa...

CONSTRUCTION & PROPERTY

Construction sector projects 4,5% growth

Zimbabwe's construction sector is this year projected to register a 4,5 percent growth from negative levels in the past few years on the back of revival of projects that had been stalled due to limite...

TELECOMS & TECHNOLOGY

Econet declares $50m dividend

TELECOMMUNICATIONS operator, Econet Wireless, has announced a dividend of $50 million for the nine months ended November 30, 2017."The company has declared a dividend of 0.93 cents per share for the t...

INDUSTRIALS & ENERGY

Merlin secures 306t dyeing contract

TEXTILE giant Merlin, which is under resuscitation, has secured a contract to dye 306 tonnes of yarn from a local company.The Bulawayo-based firm, which was placed under judicial management in 2012, i...

TRANSPORT & TOURISM

Air Zimbabwe seeks $190m for revival

Beleaguered national flag carrier, Air Zimbabwe (AirZim), is pleading for a $190 million capital injection from its sole shareholder, government, to fund its revival.Saddled with a debt overhang of ov...

FINANCIAL SERVICES

MBCA record $7,8 million profit

MBCA Bank reported a 40 percent increase in profit after tax to $7,8 million for the year to December 31 2017 from $5,6 million recorded in 2016.The Nedbank subsidiary said the profit was achieved due...

TELECOMS & TECHNOLOGY

James Makamba in trouble

A war veterans group - Magamba Echimurenga Housing Trust (Magamba) - has dragged businessman James Makamba and nine other entities to the High Court demanding an order barring the tycoon from continui...

MINING & RETAIL

$5m explosives plant for Zimbabwe

Mining has transformed radically and makes it nonsensical not to use mechanised miningTHE positive winds blowing in Zimbabwe's mining sector since the change of guard at central government has boosted...

MINING & RETAIL

ZCDC to pour $200m in new mine projects

Zimbabwe Consolidated Diamond Company (ZCDC) will spend at least US$200 million in 2018 open new mines in the eastern province of Manicaland as part of the mining groups expansion initiative, business...

MINING & RETAIL

Zim mining sector competitiveness under scrutiny

Competitiveness of Zimbabwe’s mining sector is under scrutiny in terms of attracting investors on the back of capital equipment gaps, access to finance, fluctuating global commodity prices and delay...

LANDS & AGRICULTURE

Belarus to supply Zim $43 million Agric equipment

The Belarus and Zimbabwean governments will sign a Memorandum of Agreement for the supply of $43 million worth of agriculture equipment, a visiting envoy said on Thursday.Belarus chief of Presidential...

MINING & RETAIL

Prospect buy 70% of the Good Days lithium project

Zimbabwe-focused mining group, Prospect Resources has extended its lithium resource base in Zimbabwe by acquiring Barrington Resources' Good Days lithium project.ASX-listed Prospect Resources already ...

TELECOMS & TECHNOLOGY

Econet declares $50m dividend

Zimbabwe's largest telecommunication's company by subscriber and asset base, Econet Wireless, has declared a dividend of $50 million in the nine months to November 2017.This was after the group yester...

TELECOMS & TECHNOLOGY

Zim MoMo interoperability raises more questions

ICT minister Supa Mandiwanzira's recent ultimatum to the country's mobile network operators to find a way to make all their mobile money platforms work together raises more questions than answers.Inte...

Zim insurance sector set for rebound

Zimbabwe's insurance sector is set for a rebound following rising investor confidence in the country after the inauguration of a new government late last year, market experts have said.The southern Af...

LANDS & AGRICULTURE

Ariston projects 31% growth in tea output

Listed agriculture concern, Ariston Holdings says enough preparations have made it bullish about the prospects for 2018 forecasting tea production to grow by 31%. Chief executive Paul Timothy Spear sa...

INDUSTRIALS & ENERGY

Ziscosteel needs $1bn to kick start

Ziscosteel requires at least $1billion to restart operations following its closure about 10 years ago while the new investor will need 18 to 24 months to restructure and reconstruct blast furnaces bef...

INDUSTRIALS & ENERGY

Blue Ribbon to diversify into beverages

Grain milling company, Blue Ribbon Foods Limited says it is working on diversifying into beverages manufacturing, as investor confidence in the country continues to grow. The project is expected to cr...

FINANCIAL SERVICES

GetBucks in $2,58m profit

Microfinance institution, GetBucks, said it has recorded a net profit of $2,58 million for the six months ended December 2017, showing a 51 percent increase from last year.GetBucks chairperson Glovah ...