Latest News

POLITICS

Tsvangirai's health under the spotlight

A document signed by the MDC and some fringe opposition parties forming an alliance has unwittingly exposed deep-seated concerns within the country's biggest opposition party that its leader Morgan T...

By Staff reporter | Published: 28 August 2017

POLITICS

Mugabe pleads for land reform financial support

PRESIDENT Robert Mugabe yesterday pleaded for financial support for the much-hyped land reform programme, which has largely remained underfunded amid lack of productivity at most acquired farms.Mugab...

By Staff reporter | Published: 28 August 2017

BUSINESS NEWS

Beitbridge runs out of fuel

Motorists in the border town of Beitbridge on Thursday survived on illegal fuel vendors whose business was brisk.Enterprising fuel vendors camped near service stations to capture disappointed motoris...

By Staff reporter | Published: 28 August 2017

FINANCIAL SERVICES

FBC profit after tax up 3%

FBC Holdings Limited has registered a 3% uptick in profit after tax to $9,6 million for the first half of the year on the back of managing costs despite the group's revenue for the period being down....

By Staff reporter | Published: 28 August 2017

BUSINESS NEWS

Kupinga hydro power project commissioned

Government has commissioned a US$5.7 million hydro power project in Chipinge as more incentives are being extended to private players to invest in power generation.Guest of honour at the launch of Kup...

By Staff reporter | Published: 24 August 2017

TELECOMS & TECHNOLOGY

Zimbabwe cancels Econet's Kwese TV licence

Just a day after launch, Techzim can confirm that Econet has suspended selling Kwese TV in Zimbabwe. The suspension follows a statement issued by the Broadcasting Authority of Zimbabwe last night whic...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

Barclays Zim workers split over share trust

A proposal by Barclays Plc to cede 15 percent of its shares in Barclays Bank of Zimbabwe into an employee trust has split the workers, with low-level managers demanding revision of terms.Over 500 wor...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

ZimSwitch in huge transactions surge

NATIONAL electronic funds switch, ZimSwitch, recorded a 1 600 percent surge in digital transaction volumes during the first half of the year, from an average of 900 000 per month to over 16 million t...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

Zim expects $700m budget deficit for 1H 2017

GOVERNMENT is expected to have accumulated a budget deficit of around $700 million during the first half of this year, far above the full year projection of a $400 million deficit, a Treasury source ...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

Old Mutual share price implies devaluation

THE Old Mutual Plc share price has jumped by over 30 percent in the past few months on the Zimbabwe Stock Exchange (ZSE) market, widening the gap with the stock's Johannesburg and London prices and su...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

ZAMCO seeks to sell distressed loans

THE Zimbabwe Asset Management Company (ZAMCO) has started to engage various investors interested in purchasing its distressed loan portfolio, chief executive Cosmas Kanhai has said.ZAMCO, created in 2...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

IDC cedes Olivine stake to Treasury

THE Industrial Development Corporation (IDC) has relinquished its stake in troubled fast moving consumer goods manufacturer, Olivine Industries, to the Ministry of Finance and Economic Development.Th...

By Staff reporter | Published: 24 August 2017

AFRICA BUSINESS

Namibians protest over Zimbabwean engineers

AT least 29 Zimbabwean architects and quantity surveyors were exempted from registering with the Namibia Architects and Quantity Surveyors' Council, courting the ire of Namibians who felt the Zimbabwe...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

Unions, employers upset over NECs

THE Employers' Confederation of Zimbabwe (EMCOZ) and the Zimbabwe Congress of Trade Unions (ZCTU) have expressed concern over government's engagement of National Employment Councils (NECs) for input i...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

Zim cooking oil exports fail to sizzle

ZIMBABWE'S edible oils sector has recovered and is producing a surplus, but is unable to make inroads into the regional export market due to lack of price competitiveness, an industry body has said.Up...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

Agribank trims staff costs

THE Agriculture Bank of Zimbabwe (Agribank) has reduced its staff cost to total income ratio by 25 percentage points in the past two years owing to aggressive cost containment.Minister of Finance and ...

By Staff reporter | Published: 24 August 2017

INDUSTRIALS & ENERGY

Olivine shuts down old plants

FAST-MOVING consumer goods manufacturer, Olivine Industries, has shut down its Willowvale and Birmingham production plants due to operational inefficiencies which have resulted in high production cost...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

IDBZ partners Dutch firm

THE Infrastructure Development Bank of Zimbabwe (IDBZ) has partnered a Dutch firm called Rebel International Group, which specialises in infrastructure finance and investment, to construct new school...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

Zimbabwe govt issues rules for power grid use

GOVERNMENT has come up with guidelines to regulate the country's growing electricity industry to maintain order and create accountability in the use of the national transmission grid.The rules are de...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

ZBFH abandons Mozambique plans

ZIMBABWE Stock Exchange-listed financial services provider, ZB Financial Holdings Limited (ZBFHL), has abandoned plans to set up a unit in neighbouring Mozambique due to foreign currency shortages.Ron...

By Staff reporter | Published: 24 August 2017

ECONOMC INDICATORS

'Zimbabwe inflation decline short-lived'

ECONOMIC analysts have warned that Zimbabwe's year-on-year inflation, which slowed down to 0,14 for the month of July from 0,31 percent in June, would still trend upwards by year-end due to worsening ...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

CBZ channels $6m to smallholder farmers

CBZ Bank has provided $6 million to smallholder farmers through two facilities over the past two years.The bank gave out 9 554 loans valued at $5,2 million to farmers across the country under the Live...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

Aurex begins gold jewellery exports

THE central bank's jewellery making subsidiary, Aurex Jewellery (Aurex), has started exporting gold chains and bangles to Dubai and is planning to extend its market to America.Aurex general manager, P...

By Staff reporter | Published: 24 August 2017

INDUSTRIALS & ENERGY

Tycoon forges ahead with aggressive CFI buys

BRITISH investor, Nicholas van Hoogstraten, said his investment vehicle, Messina Investments (Messina), has been buying from CFI Holdings (CFI) minorities rival since bidder Stalap Investments' offer ...

By Staff reporter | Published: 24 August 2017

FINANCIAL SERVICES

Zimbabwe approves Barclays take-over

BARCLAYS Plc is proceeding with the sale of Barclays Bank of Zimbabwe to Malawi-listed lender, FMB Capital, after receiving unofficial authorisation from the central bank to close the transaction, acc...

By Staff reporter | Published: 24 August 2017

Latest News

Latest Published Reports

Latest jobs