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BUSINESS NEWS

Business welcomes RTGS for FCAs

Business has welcomed the Reserve Bank of Zimbabwe (RBZ)'s move to allow payments through the real time gross settlement (RTGS) system for foreign currency account (FCA) holders.The Ministry of Financ...

By Staff reporter | Published: 30 January 2019

OPINION

Chamisa calls for SADC intervention in Zimbabwe crisis - Fulltext

Text of speech by MDC leader Nelson Chamisa as prepared for delivery at a news conference in Harare on Tuesday, January 29:THE situation in the country has reached crisis levels. The country is curren...

By Nelson Chamisa | Published: 30 January 2019

MINING & RETAIL

Edgars charges on Edcon deal

Edgars Stores Zimbabwe (Edgars) stock headlined gains on the Zimbabwe Stock Exchange (ZSE) last week after surging 43,64 percent following an announcement that Edcon South Africa (Edcon) was shoring u...

By Staff reporter | Published: 30 January 2019

BUSINESS NEWS

Zera puts on hold ZPC bid

Zimbabwe Power Company's (ZPC) bid to add more electricity to the national grid has suffered a setback after regulatory authorities put a hold on its request for a licence extension until it addresses...

By Staff reporter | Published: 30 January 2019

FINANCIAL SERVICES

Zimbabwe commercial bank deposits surge 25% to $8 billion

Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review of Octobe...

By Staff reporter | Published: 30 January 2019

MINING & RETAIL

Kamativi starts work on refinery plant

Kamativi Tailings Company says it will commence civil works at its plant site in Matabeleland North after the company concluded a $9,5 million offtake arrangement with a Swiss-based commodity trader, ...

By Staff reporter | Published: 30 January 2019

INDUSTRIALS & ENERGY

Adcock Ingram plots Zimbabwe exit

SOUTH African pharmaceutical group Adcock Ingram says it is assessing the viability of its continued presence in Zimbabwe, given the country's deteriorating economic environment.The Johannesburg Stock...

By Staff reporter | Published: 30 January 2019

BUSINESS NEWS

Redan restores fuel coupons value

REDAN Petroleum has given in to pressure and reversed its decision to debase fuel coupons following President Emmerson Mnangagwa's decision to hike fuel prices by 150% three weeks ago.The decision fol...

By Staff reporter | Published: 30 January 2019

LANDS & AGRICULTURE

ARDA Katiyo in US$95m investment deal

Agricultural productivity at ARDA Katiyo Estate is being revived after government secured investors that will channel at least US$95 million towards tea and avocado production.The investment deal will...

By Staff reporter | Published: 29 January 2019

INDUSTRIALS & ENERGY

Lifeline for Deven Engineering

The recently introduced mass public transport system in the country has opened new opportunities for local bus manufacturers and assemblers as more buses are needed to roll out the exercise country wi...

By Staff reporter | Published: 29 January 2019

TRANSPORT & TOURISM

CAAZ, NHS resign to losing $68,8m to Air Zimbabwe

The Civil Aviation Authority of Zimbabwe (CAAZ) and the National Handling Services (NHS) are resigned to the possibility of losing $68,8 million dollars the two companies were owed by Air Zimbabwe whe...

By Staff reporter | Published: 29 January 2019

BUSINESS NEWS

Zimbabwe trade deficit widens

ZIMBABWE recorded a trade deficit of $2,3 billion in the period between February and December 2018, latest trade data has shown.Figures released by the Zimbabwe National Statistics Agency (ZimStat) sh...

By Staff reporter | Published: 29 January 2019

MINING & RETAIL

Unki projects higher output

ANGLO American's local platinum producer, Unki Platinum Mine projects that this year's output will increase to at least 4,2 million ounces from 1,3 million oz last year. In a quarterly production repo...

By Staff reporter | Published: 29 January 2019

FINANCIAL SERVICES

First Capital Bank shelves unbundling of non-core assets

FIRST Capital Bank, formerly Barclays Bank Zimbabwe has indefinitely suspended the proposed unbundling of non-core assets for listing on the Zimbabwe Stock Exchange (ZSE). In a statement regarding the...

By Staff reporter | Published: 29 January 2019

MINING & RETAIL

ZCDC to extract Chihota diamonds

The Zimbabwe Consolidated Diamond Company (ZCDC), has moved a gear up towards establishing diamonds extraction operations in Chihota communal lands in Marondera District, with the firm having engaged ...

By Staff reporter | Published: 29 January 2019

POLITICS

Jonathan Moyo cornered

Former Higher and Tertiary Education, Science and Technology Development Minister Professor Jonathan Moyo - who was slapped with a $5 million defamation suit by Vice President Constantino Chiwenga - h...

By Staff reporter | Published: 25 January 2019

ZIMBABWE

ZSE engages Hwange

THE Zimbabwe Stock Exchange (ZSE) says it will engage suspended Hwange Colliery Company Limited (HCCL) in an effort to set a new course for the troubled miner.HCCL was suspended from the ZSE last Nove...

By Staff reporter | Published: 25 January 2019

POLITICS

Jonathan Moyo gets ultimatum to defend Chiwenga’s $5 million lawsuit

SELF-EXILED former Higher and Tertiary Education minister Jonathan Moyo has been given a 10-day ultimatum by the High Court to defend a $5 million defamation lawsuit filed by Vice-President Constantin...

By Staff reporter | Published: 25 January 2019

BUSINESS NEWS

Foreign drug manufacturers cut off supplies to Zimbabwe

THE pharmaceutical sector in Zimbabwe owes foreign suppliers more than $39 million for imported raw materials as well as finished products, resulting in supplies to the southern African country being ...

By Staff reporter | Published: 25 January 2019

MINING & RETAIL

Unki FY production up 15%

ANGLO American Platinum's local unit, Unki Platinum, reported a 15% production increase to 85 900 ounces in the full year to December 2018 up from 74 600 ounces recorded in prior year driven by an imp...

By Staff reporter | Published: 25 January 2019

BUSINESS NEWS

Zimbabwe retailers appeal for distress fund

Retailers have called on Government to establish a distress fund that will help re-capacitate and restock businesses that fell victim to the looting and vandalism that took place during last week's vi...

By Staff reporter | Published: 25 January 2019

POLITICS

Mnangagwa's Commonwealth bid hits snag

PRESIDENT Emmerson Mnangagwa's bid to rejoin former British colonies' club, the Commonwealth, as part of his re-engagement efforts with the West, appears to have hit a snag after the ex-colonial maste...

By Staff reporter | Published: 25 January 2019

BUSINESS NEWS

Redan given 72 hours to restore fuel coupons value

The decision by Redan Petroleum to debase fuel coupons following President Emmerson Mnangagwa's decision to hike fuel prices a fortnight ago has drawn fire, with lawyers demanding that the fuel distri...

By Staff reporter | Published: 25 January 2019

BUSINESS NEWS

Internet shutdown costs govt millions of dollars

THE government lost millions of dollars through delayed revenue inflows due to the slow processing of imports and exports after the switching off internet services countrywide.Government threw the cou...

By Staff reporter | Published: 20 January 2019

TRANSPORT & TOURISM

Zimbabwe tourism sector counts losses in the wake of protests

ZIMBABWE'S tourism industry stakeholders say the three-day shutdown that brought business to a standstill severely affected the sector, especially in terms of booking cancellations.The shutdown, which...

By Staff reporter | Published: 20 January 2019
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