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BUSINESS NEWS

'Zimbabwe running out of passport paper'

REGISTRAR-General Clemence Masango yesterday told Parliament that the demand for emergency passports was now so high that his department might soon run out of passport paper.Masango made the disclosur...

By Staff reporter | Published: 12 February 2019

BUSINESS NEWS

Create export friendly policies: Mudenda

ZIMBABWE needs to improve its trade systems and proffer enabling monetary and fiscal policies designed to promote international trade, Speaker of the National Assembly Jacob Mudenda has said.Speaking ...

By Staff reporter | Published: 12 February 2019

BUSINESS NEWS

'262 million Zimbabwe-bound substandard products rejected'

Bureau Veritas (BV), an international firm contracted by government to undertake consignment-based conformity assessment (CBCA) for imports destined for Zimbabwe, says it has rejected 262 million subs...

By Staff reporter | Published: 12 February 2019

MINING & RETAIL

Wrangle over Zimbabwe diamond mine continues

THE stalemate over the pricing of River Ranch Mine, situated in the border town of Beitbridge, continues unabated as the owners, Rani Investments, and potential buyers, the Zimbabwe Consolidated Diamo...

By Staff reporter | Published: 12 February 2019

INDUSTRIALS & ENERGY

Merlin judicial manager pleads with shareholders

MERLIN judicial manager Cecil Madondo has pleaded with company shareholders to withdraw court cases or risk the company's total shutdown.Once listed among the largest textile companies in the country,...

By Staff reporter | Published: 12 February 2019

FINANCIAL SERVICES

Capital Bank Corporation provisionally winds up

Capital Bank Corporation has been provisionally wound up after the financial institution failed to service its debts amounting to over $25 million.The decision by the High Court followed an applicatio...

By Staff reporter | Published: 12 February 2019

BUSINESS NEWS

Poultry feeds output up 58%

POULTRY feeds production increased by 58% to 110,121 tonnes in the last quarter of 2018 and generated more than $106,5 million in revenue, latest industry reports have shown.In an industry update, Zim...

By Staff reporter | Published: 12 February 2019

BUSINESS NEWS

Prophet Magaya church accounts garnished by Zimra

The Zimbabwe Revenue Authority (Zimra) has garnished Walter Magaya's Prophetic Healing and Deliverance (PHD) Ministries accounts for alleged tax arrears amounting to $22 million.According to a Zimra s...

By Staff reporter | Published: 07 February 2019

BUSINESS NEWS

SEZ approves investors for Bulawayo

The Special Economic Zones Authority says it has approved three investors for special economic zone status in Bulawayo.This follows the declaration of Belmont, Kelvin and Donnington industrial areas a...

By Staff reporter | Published: 07 February 2019

MINING & RETAIL

PPC volumes up

Pretoria Portland Cement (PPC) says volumes at its local unit grew by a single digit, compared to the same period last year due to operational challenges experienced in the third quarter of the financ...

By Staff reporter | Published: 07 February 2019

BUSINESS NEWS

Employers to meet Labour minister

EMPLOYERS Confederation of Zimbabwe (Emcoz) will this month hold a crucial meeting with Labour minister Sekai Nzenza over the state of the economy.The meeting comes at a time the economy is experienci...

By Staff reporter | Published: 07 February 2019

TRANSPORT & TOURISM

ZTA replaces Kaseke

Environment, Tourism and Hospitality Industry minister Priscah Mupfumira has appointed Rita Likukuma as Zimbabwe Tourism Authority (ZTA) acting chief executive officer, effective from February 1, 2019...

By Staff reporter | Published: 07 February 2019

INDUSTRIALS & ENERGY

Major shareholder cuts off forex support to Nampak

PACKAGING manufacturer Nampak Zimbabwe says it has been cut off by its major shareholder Nampak Holdings, which has been assisting it with foreign currency due to non-payment of outstanding debts.The ...

By Staff reporter | Published: 07 February 2019

ZIMBABWE

ZSE suspends Falgold

The Zimbabwe Stock Exchange Limited (ZSE) has suspended Falcon Gold Zimbabwe Limited (Falgold) from trading on the local bourse after the gold miner failed to publish its financial results for the yea...

By Staff reporter | Published: 07 February 2019

BUSINESS NEWS

Political upheaval hammers Zimbabwe economy

Zimbabwe's recurrent political turmoil-which took a turn for the worse after last year's disputed presidential election - is hurting the economy badly by amplifying negative perceptions about the coun...

By Fin Gaz | Published: 07 February 2019

MINING & RETAIL

Trojan operating at 50%

Bindura Nickel Corporation (BNC)'s Trojan Mine (Trojan) is operating at 50% capacity as part of a deliberate mining strategy guided by depressed nickel prices. Batanai Manhando, BNC managing director,...

By Fin Gaz | Published: 07 February 2019

BUSINESS NEWS

Bulawayo industries get $22m investment boost

The Zimbabwe Special Economic Zones Authority (ZIMSEZA) says it has approved $22 million worth of investments for Bulawayo. This comes as government is implementing various measures to revive the coun...

By Fin Gaz | Published: 07 February 2019

ZIMBABWE

Capital markets poised for growth in 2019

SecZim says it is optimistic that the capital markets will perform exceptionally well this year, despite economic headwinds. Zimbabwe is facing its economic crisis in a decade as shown by increasing f...

By Fin Gaz | Published: 07 February 2019

FINANCIAL SERVICES

Untu Capital foreign backers withdraw support

African Guaranteed Fund (AGF), the foreign backers of Untu Capital's bond issue, have withdrawn their support to the microfinance company citing Zimbabwe's current unpredictable economic environment, ...

By Staff reporter | Published: 06 February 2019

MINING & RETAIL

Ingwebu franchises its beer outlets

INGWEBU Breweries plans to franchise all its beer retailing outlets and focus on manufacturing and distribution of traditional beer, a development which could increase the company's revenue by at leas...

By Staff reporter | Published: 06 February 2019

BUSINESS NEWS

Cabinet approves parastatal reforms

CABINET yesterday approved a litany of measures meant to strengthen under-performing parastatals such as Air Zimbabwe, the Grain Marketing Board and Zesa Holdings.Addressing journalists soon after the...

By Staff reporter | Published: 06 February 2019

POLITICS

UK to block Harare's Commonwealth return

Britain's minister for Africa Harriett Baldwin says her country supports an extension of EU sanctions against Zimbabwe and will not back its plan to return to the Commonwealth.The frosty relationship ...

By Business Day | Published: 06 February 2019

INDUSTRIALS & ENERGY

Car assembly plant for Kwekwe

A ZIMBABWEAN businessman, Dr Devine Mafa, who is based in the United States of America, has partnered with an unnamed international car manufacturer to set up a vehicle assembly plant in Kwekwe. In an...

By Staff reporter | Published: 06 February 2019

BUSINESS NEWS

Bank seeks Rushwaya's incarceration over $174k debt

Tetrad Investment Bank, which is under provisional judicial management, has petitioned the High Court seeking the incarceration of Kadoma gold miner, Jameson Rushwaya over a $174 000 debt.Through its ...

By Staff reporter | Published: 06 February 2019

BUSINESS NEWS

Mnangagwa to attend CEO Africa Roundtable

MORE than 400 company executives drawn from across Africa are next week expected to converge in the resort town of Victoria Falls for the annual CEO Africa Roundtable, whose aim is to deliberate on th...

By Staff reporter | Published: 05 February 2019
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