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BUSINESS NEWS

POSB edges closer to privatisation

THE People's Own Savings Bank (POSB)'s chairperson Mathilda Dzumbunu says the bank's partial privatisation has moved an inch closer amid revelations that a transaction advisory services consultant was...

By Staff reporter | Published: 01 October 2019

TELECOMS & TECHNOLOGY

Strive Masiyiwa lashes RBZ

Ministers have recently issued threats against Econet's mobile money service, EcoCash, whose agents are accused of charging desperate Zimbabweans looking for cash a massive premium of up to 60 percent...

By Staff reporter | Published: 30 September 2019

FINANCIAL SERVICES

RBZ third batch of TBs oversubscribed

THE Reserve Bank of Zimbabwe (RBZ) said on Friday it got offers four times more than the $100 million it sought to raise through treasury bills (TBs), signalling high investor appetite in the instrume...

By New Ziana | Published: 30 September 2019

BUSINESS NEWS

Zimbabwe Reserve Bank bans mobile money agencies

In what analysts have described as a major blow to the advent of mobile money and financial inclusion, the Zimbabwean central bank has banned mobile money agencies from facilitating cash withdrawals o...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

Innscor's revenue breaches $1bn mark

Diversified Industrial conglomerate, Innscor Africa Limited defied the challenging economic environment and reported a surge in profitability for the year to June 30, 2019, on good product mix and vol...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

RBZ works on Fintech strategy

The Reserve Bank of Zimbabwe in partnership with other stakeholders is working on a National Fintech Strategy and has already put in place an Interagency Fintech Working Group that is expected to play...

By Staff reporter | Published: 30 September 2019

MINING & RETAIL

Zimbabwe mining industry lags behind in technolo

YOUNG Miners Foundation (YMF) chief executive Payne Kupfukwa has lamented that the local mining industry was lagging behind in terms of technology, with firms using archaic and inefficient equipment.K...

By Staff reporter | Published: 30 September 2019

LANDS & AGRICULTURE

Tobacco seed sales decline 20%

TOBACCO seed sales have declined by 20%, with the volumes being the lowest since 2015, a development that could see reduced hectarage of the crop next season, a Zimbabwe Tobacco Association (ZTA) repo...

By Staff reporter | Published: 30 September 2019

MINING & RETAIL

Illegal mining threatens Blanket Mine operations

CALEDONIA Mining Corporation has bemoaned the rampant increase of illegal mining activities on properties controlled by its gold mining company, Blanket Mine in Gwanda.Blanket Mine has exploration tit...

By Staff reporter | Published: 30 September 2019

POLITICS

'Change is coming,' says Chamisa

Nelson Chamisa hailed the MDC as "the bravest, strongest and most consistent" party as the opposition movement marked its 20-year anniversary at Rufaro Stadium on Saturday.Chamisa said the MDC bore sc...

By Staff reporter | Published: 30 September 2019

INDUSTRIALS & ENERGY

ZESA set to increase power exports to Namibia

State-run Zimbabwe Electricity Supply Authority (ZESA) senior officials are expected to meet with executives from Namibia's electricity company NamPower and finalise some on-going negotiations for the...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

Command Agriculture facing financial challenges

LAST week, the Government of Zimbabwe announced that its Command Agriculture programme shall look to be financed by the banking sector. The country's planting season is already upon us. Field preparat...

By Chris Chenga | Published: 30 September 2019

BUSINESS NEWS

RBZ bans Cash In and Out with immediate effect

The Reserve Bank of Zimbabwe has directed mobile payment system providers and merchants to discontinue cash in and cash out with immediate effect while it has also directed economic agents to disconti...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

Zimbabwe enforces exclusive use of Zimdollar for domestic transactions

Government has reinforced legislation which formalised the use of local currency by empowering the Reserve Bank of Zimbabwe (RBZ) to issue civil penalties for contravention and also applying criminal ...

By Staff reporter | Published: 28 September 2019

POLITICS

Mugabe body smuggled out to Zvimba in Mnangagwa's absence

ZANU PF has confirmed being betrayed by late former President Robert Mugabe's family which secretly wheeled the ex-leader's body to Zvimba Thursday for a private burial Saturday.Mugabe's party said in...

By Staff reporter | Published: 28 September 2019

POLITICS

'Mugabe's burial place was never negotiable'

Despite weeks of controversy and confusion regarding the burial of former Zimbabwean president Robert Mugabe, the decision was finally taken to bury him at his rural village at Kutama in Zvimba distri...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Zimbabwe teachers renew fight for improved salaries

RURAL teachers have threatened fresh protests to push the government to improve their salaries.Amalgamated Rural Teachers' Union of Zimbabwe (Artuz) president Obert Masaraure said salaries for civil s...

By Staff reporter | Published: 28 September 2019

MINING & RETAIL

Makomo Resources hit by forex shortages

COAL miner Makomo Resources is only getting about 50% of its foreign currency requirements for the importation of critical inputs like spares, a situation that has crippled its production, an official...

By Staff reporter | Published: 28 September 2019

FINANCIAL SERVICES

Inflation headache for NBS

THE National Building Society (NBS) says it has applied strict cost repression measures in order to contain the effects of inflation.Zimbabwe's inflation rate has been on the rise and quickened furthe...

By Staff reporter | Published: 28 September 2019

POLITICS

Mugabe buried in low-key ceremony

The body of Zimbabwe's former president Robert Mugabe was buried on Saturday in his rural village of Kutama, an AFP reporter at the scene said.The family of Mugabe gathered in his rural homestead, thr...

By Staff reporter | Published: 28 September 2019

ZIMBABWE

ZSE bearish with a 0.35% drop as big caps trade negatively

The ZSE retreated by 0.35% with gains in Innscor, BAT and Zimre failing to prop up the bourse against losses for blue-chips Old Mutual and Econet. At the close of trade, market turnover reached Z...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Starafrica eyes 10% increase in exports

After concluding an agreement with ZETDC last month to ensure continuous power supply to the factory, Starafrica Corporation intends to recover 10% of production lost by accelerating export sales in t...

By Staff reporter | Published: 28 September 2019

INDUSTRIALS & ENERGY

Forex earnings boost Afsun H1 as group embarks on major soft refurbishments

Foreign currency earnings, which constituted 45% of revenue, helped African Sun post a 765% increase in the bottom-line for the half year to June 30.  This is in spite of a drop in occupancy leve...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Chartered secretary's role in governance remains important

The chartered secretary's role is just as important today as it was when the profession first emerged after the establishment of limited companies in the nineteenth century, the director general of th...

By Staff reporter | Published: 27 September 2019

FINANCIAL SERVICES

GCR upgrades Zimnat General Insurance rating to A+

Global Credit Rating (GCR) has revised Zimnat General Insurance's national scale financial strength rating to A+(zw) Stable Outlook, from its previous rating of A-(zw).The financial strength rating (f...

By Staff reporter | Published: 27 September 2019
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