FINANCIAL SERVICES

Zimbabwe banks running out of cash?

Central bank governor John Mangudya presents the Monetary Policy Statement at the Reserve Bank of Zimbabwe yesterdayReserve Bank of Zimbabwe (RBZ) governor John Mangudya says withdrawals are now avera...

By Staff reporter | Published: 14 March 2018

CONSTRUCTION & PROPERTY

NBS completes 50 housing units in 100 days

THE National Building Society (NBS) has completed construction of 50 houses at the Magakoosha Housing Site in Shurugwi.The bank partnered River Valley Properties who serviced the land for the project ...

By Staff reporter | Published: 14 March 2018

FINANCIAL SERVICES

Zimpost to spend $30 million on projects

Zimpost subsidiary, Post Properties plans to spend $30 million in the next three years on various development projects as it grows its property portfolio.Development of a shopping mall in Borrowdale a...

By Staff reporter | Published: 14 March 2018

MINING & RETAIL

Hwange's 25-year coal supply deals stall

HWANGE Colliery Company Limited (HCCL) is yet to reach financial closure on two 25-year coal supply agreements it signed last year with the Zimbabwe Power Company and the Pan-African Energy Resources....

By Staff reporter | Published: 14 March 2018

MINING & RETAIL

Mnangagwa admin pulls in $2.6bn lithium project

The allure of the new political administration has convinced Australian Stock Exchange (ASX)-listed Prospect Resources to commit to a lithium project near Harare, which is expected to generate over $2...

By Staff reporter | Published: 14 March 2018

LANDS & AGRICULTURE

Premier Tobacco fails to pay workers

DEBT-stricken and financially troubled Premier Tobacco Auction Floors has not paid workers for nearly two and half years, raising questions about its financial capacity to purchase tobacco this season...

By Staff reporter | Published: 14 March 2018

INDUSTRIALS & ENERGY

CFI shareholders squabbles continue unabated

Shareholder squabbles continued unabated at suspended Zimbabwe Stock Exchange entity CFI Holdings after proxies representing one of the major shareholders, Stalap Investments, walked out on a meeting ...

By Staff reporter | Published: 14 March 2018

TRANSPORT & TOURISM

Zimbabwe inbound tourism hits record high

FOREIGN tourist arrivals to Zimbabwe hit record highs between December last year and February this year and are expected to continue into next year, local tour operators have said.In December alone, v...

By Staff reporter | Published: 14 March 2018

INDUSTRIALS & ENERGY

ProDairy invests $1.6m in project

Zimbabwe's newest milk processor, ProDairy has invested $1,6 million in an ambitious project in which it is hoping to drastically cut the cost of milk production through grass feeding cows as opposed ...

By Staff reporter | Published: 14 March 2018

TELECOMS & TECHNOLOGY

Zimbabwe's Golix announces security upgrades

Golix, Zimbabwe's leading cryptocurrencies exchange, has announced a series of security improvements to its security protocols following a breach to a limited number of its affected user accounts.Acco...

By Nhlalwenhle Ngwenya | Published: 13 March 2018

TELECOMS & TECHNOLOGY

Zimbabwe's Golix platform hacked

Golix, a Zimbabwean cryptocurrency exchange platform that is said to be processing about $1 million per month, has disclosed a breach into their systems that took place on the 12th of March 2018, via ...

By techweez.com | Published: 13 March 2018

TRANSPORT & TOURISM

Fastjet named Africa's best

LOW-COST airline, Fastjet, has been named Africa's best value airline for its service excellence and contribution to the industry's growth.The airline, which operates in most parts of Africa including...

By Staff reporter | Published: 13 March 2018

LANDS & AGRICULTURE

Bulawayo farmers lose big in cattle scam

MORE than 50 farmers in Bulawayo have lost huge sums of money after the Cattle Ownership Society failed to honour its obligation despite receiving payments, NewsDay has established.Under the scheme, f...

By Staff reporter | Published: 13 March 2018

INDUSTRIALS & ENERGY

Millennium Footwear records uptick in local demand

ONE of the country's leading exotic leather shoe manufacturer, Millennium Footwear, has pushed up capacity utilisation to over 40% due to increase in local demand, the company's director, Stuart Simal...

By Staff reporter | Published: 13 March 2018

TRANSPORT & TOURISM

NRZ leasing locomotives at $1,8m

Transport and Infrastructure Development minister Joram Gumbo has revealed that the National Railways of Zimbabwe (NRZ) would be paying at least $1,8 million for leasing the recently-launched locomoti...

By Staff reporter | Published: 13 March 2018

MINING & RETAIL

Truworths swings back to profitability

TRUWORTHS Zimbabwe overturned its loss making position registering a profit after tax of $548 095 for the half year ended January 7, 2018 on the back of increased sales.In the comparative period ended...

By Staff reporter | Published: 13 March 2018

FINANCIAL SERVICES

Zimbabwe banks to source offshore credit lines

Financial institutions have renewed plans to source offshore credit lines to sustain requirements by productive sectors of the economy.Productive sectors are failing to increase capacity due to lack o...

By Staff reporter | Published: 12 March 2018

TRANSPORT & TOURISM

Ethiopian Airlines's 787 Dreamliner for Vic Falls

Ethiopian Airlines has maintained its confidence in Victoria Falls as a destination with the deployment of a Boeing 787 Dreamliner which has become the second wide bodied scheduled aircraft to service...

By Staff reporter | Published: 12 March 2018

TELECOMS & TECHNOLOGY

Azam TV comes to Zimbabwe

THE launch of Kwese TV in Zimbabwe gave viewers more options to choose from. The pay TV scene is about to get more interesting with another player, Azam TV, also making moves to set up shop in the cou...

By Staff reporter | Published: 12 March 2018

LANDS & AGRICULTURE

Govt to install dryers at GMB depots

GOVERNMENT plans to install dryers at major Grain Marketing Board (GMB) depots to address moisture complications on delivered grain and reduce post-harvest losses.Despite recording a bumper harvest in...

By Staff reporter | Published: 12 March 2018

FINANCIAL SERVICES

Zimbabwe ATMs gather dust

THE severe cash shortage brought about by a debilitating liquidity crunch has severely reduced the use of automated teller machines (ATMs).An ATM is an electronic telecommunications device that enable...

By Staff reporter | Published: 09 March 2018

LANDS & AGRICULTURE

Zim faces maize output shortfall

Zimbabwe will face a shortfall in maize output in the current 2017/18 season on the back of erratic weather conditions with the hole expected to be plugged by carryover stocks from last season, the Fa...

By Staff reporter | Published: 09 March 2018

MINING & RETAIL

Russia eyes Zim's diamonds and platinum

Russia's Foreign Minister Sergei Lavrov on Thursday met with Zimbabwe's new President Emmerson Mnangagwa and discussed possible military co-operation as well as plans to boost economic ties.Lavrov, w...

By Staff reporter | Published: 08 March 2018

MINING & RETAIL

Zim prospects for new minerals

GOVERNMENT has intensified its exploration of new minerals and has granted 30 exclusive prospecting licences since November last year, Minister of Mines Winston Chitando has said.Zimbabwe, which has 4...

By Staff reporter | Published: 08 March 2018

MINING & RETAIL

Zimplats resumes Bimha operations

ZIMBABWE'S largest platinum miner, Zimplats, is next month expected to resume production at its Bimha Mine, which collapsed nearly four years ago.To date, Zimplats has invested less than half the fund...

By Staff reporter | Published: 08 March 2018

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