LANDS & AGRICULTURE

MTC invests $6m in new warehouse

Mashonaland Tobacco Company (MTC) has invested $6 million in a new warehouse, following the inferno that gutted the old one in 2015.The tobacco processor and exporter's warehouse caught fire in 2015 d...

FINANCIAL SERVICES

Nedbank Zimbabwe seeks to fund private sector

Nedbank Zimbabwe, a unit of South Africa's Nedbank Group, says it will be at the forefront of securing lines of credit for private sector funding as the financial institution seeks to play a leading r...

FINANCIAL SERVICES

Nedbank Zimbabwe warns of system failure

Nedbank Zimbabwe, formerly MBCA, has warned customers of possible system failures during the rebranding exercise. Speaking at press statement held in the capital on Monday, the bank’s managing direc...

FINANCIAL SERVICES

Zim policyholders prejudiced billions of dollars

Insurance and pension industry players did not keep consistent and reliable asset values during the pre-dollarisation period, resulting in ordinary Zimbabweans failing to assess risks and ultimately i...

INDUSTRIALS & ENERGY

Dairibord speaks on outbreak of listeriosis

A unit of the Zimbabwe Stock Exchange (ZSE) listed Dairibord Holdings Limited (DHL) has issued a statement assuring its stakeholders that its products are safe for human consumption.This follows the o...

INDUSTRIALS & ENERGY

National Foods to dispose of $3.7m properties

NATIONAL Foods Limited will within the next six months dispose of properties valued at $3.7 million that are non-core to the business comprising buildings and land.Board chair, Mr Todd Moyo, said this...

FINANCIAL SERVICES

CBZ profit after tax clocks $27.8m

ZIMBABWE'S largest financial group, CBZ Holdings posted a 16.8 percent growth in profit after tax to $27.8 million in the full year ended December 31, 2017 compared to $23.8 million achieved in 2016.T...

MINING & RETAIL

Zimbabwe set to quadruple coal output

ZIMBABWE is set to quadruple coal production by next year following investments that have been secured in that sector, a Cabinet Minister has said.Speaking to investors at a mining conference in Londo...

FINANCIAL SERVICES

CBZ targets SMEs as profits rise

CBZ Holdings, Zimbabwe's biggest banking group (by assets and deposits) plans to expand its small to medium enterprise loan book by $10 million to stimulate growth in the sector, as profits rose 17 pe...

INDUSTRIALS & ENERGY

Pepsi starts production in Zimbabwe

INDIAN soft drinks manufacturer, Varun Beverages, has started manufacturing operations in the country, but says the cost of setting up its plant might spiral from the initial budget of $30 million to ...

INDUSTRIALS & ENERGY

Dairibord mulls Malawi business closure

Milk processor, Dairibord Holdings Limited, will make a decision on the fate of its Malawi division in the next six months after the unit continued on a perennial loss making path.Finance director Mer...

FINANCIAL SERVICES

Cash decreases in CABS vaults

OVER 300 000 CABS depositors will struggle to access their funds, as cash in building society's coffers significantly dropped to $2,09 million in the full year ending December 31, 2017 from the compar...

FINANCIAL SERVICES

CBZ turns focus to productive sector

CBZ Holdings will focus on supporting the key productive sectors of the economy such as agriculture and mining as the country's biggest banking group expands its reach."Going forward, we will continue...

MINING & RETAIL

Mimosa increases production

ZVISHAVANE-BASED platinum miner, Mimosa, has been forced to increase its production and push volumes as its sales are being affected by the depleting grade of its mineral as well as plummeting platinu...

INDUSTRIALS & ENERGY

Forex crunch threatens Archer Clothing

THE prevailing foreign currency shortage in the country is threatening to hamper leading textile company, Archer Clothing Manufacturers' growing business prospects.Archer Clothing Manufacturers is one...

INDUSTRIALS & ENERGY

'No immediate respite to Zim forex shortages'

LISTED Dairibord Holdings Limited (DHL) does not see an immediate respite to foreign currency shortages and will remain cautious in its business operations due to uncertainty evoked by upcoming electi...

FINANCIAL SERVICES

StanChart launches its first-ever digital bank in Africa

Standard Chartered Bank today announced the official launch of its digital bank in Côte d'Ivoire. This marks the Bank's first digital bank in Africa and the first-of-its-kind to open in Côte d'Ivoir...

Great Dyke to build $400m processing plant in Zim

Great Dyke Investments (GDI) is planning to invest $400m to construct a precious metals mine and smelter as part of the Darwendale platinum deposit project in Zimbabwe.The investment will be directed ...

INDUSTRIALS & ENERGY

PRObrands acquires Revive brand

Fast moving consumer goods firm PRObrands has through its Prodairy Unit acquired Revive juice which shut shop in 2016 and the company has since resumed production with the juices already commanding 15...

MINING & RETAIL

Mining firms seek minimum wage pay exemption

SEVERAL mining companies have applied to be exempted from paying the 2018 minimum wage increment for the sector agreed by the Chamber of Mines and the Associated Mineworkers' Union of Zimbabwe (Amwuz)...

MINING & RETAIL

PPC to leverage on RBZ export incentive

PPC Zimbabwe says it will leverage on an enhanced export incentive which the company has been granted by the Reserve Bank of Zimbabwe to break even and resume exports in the face of high costs of prod...

FINANCIAL SERVICES

CABS injects $6m into Bulawayo housing projects

LEADING mortgage lender Central African Building Society (CABS) says it has invested in excess of US$6 million in Pumula South and Nkulumane housing stands with the combined uptake, including the Budi...

LANDS & AGRICULTURE

ED takes manufacturing message to tractor plant

President Emmerson Mnangagwa visited a tractor and parts plant on Tuesday to highlight the role of manufacturing in reviving the economy, and followed up on his State of the nation message of strength...

MINING & RETAIL

Zimbabwe's coal output set to quadruple

Zimbabwe has attracted around $300 million in its coal industry that will quadruple production next year versus 2017, its mining minister told an investment conference in London on Thursday.The countr...

FINANCIAL SERVICES

Nedbank Zim launches new banking system

MBCA Zimbabwe this week changed its name to Nedbank Zimbabwe after the registrar of companies approved the change of its corporate identity as part of efforts to spur growth.The Nedbank Group is the f...