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Market Commentary 16 August 2017

INDUSTRIALSThe Industrial Index opened the week firmer at 211.19 points after putting on 0.58 points (0.28%). NAMPAK (NPKZ.zw) traded $0.0080 higher at $0.0780, SEEDCO (SEED.zw) added $0.0074 to close...

By zse | Published: 16 August 2017

BUSINESS NEWS

Indians eye Zim manufacturing sector

Indian investors are pursuing the possibilities of joint ventures with Zimbabwe's manufacturing firms.A consortium of Indian investors is expected in Zimbabwe in the next few months.Zimbabwe-India Cha...

By Staff reporter | Published: 16 August 2017

TRANSPORT & TOURISM

Victoria Falls hotel occupancy 25% up

Hotel operators in Victoria Falls are reporting a better-than-expected half year profit and raising their earnings forecast for the year, helped by a boost in business travel following a recently comm...

By Staff reporter | Published: 16 August 2017

BUSINESS NEWS

Grace Mugabe escapes arrest in Joburg

First Lady Grace Mugabe yesterday escaped arrest in Johannesburg, South Africa, where she was slapped with charges for severely assaulting a 20-year-old woman she had found with her sons at an upmarke...

By Staff reporter | Published: 16 August 2017

LANDS & AGRICULTURE

Govt imposes quality control for vets

The Division of Veterinary Services has imposed strict controls on the operation of veterinary laboratories in new regulations under the Animal Health Act.This comes after the Council of Veterinary Su...

By Staff reporter | Published: 16 August 2017

POLITICS

Court orders minister off grabbed farm

Zimbabwe's High Court has ordered Local Government deputy minister Christopher Chingosho who has invaded a Makoni farm to vacate the land or face eviction by the police.In her ruling, Judge Justice Lo...

By Staff reporter | Published: 16 August 2017

Govt seeks partner for drugs-maker CAPS

Government is looking for an investor to inject $6 million in once Zimbabwe's and southern Africa's biggest drug manufacturer - CAPS Holdings - which has been teetering on the brink of total collapse ...

By Staff reporter | Published: 16 August 2017

BUSINESS NEWS

Society challenges govt on pro bono lawyers

THE Law Society of Zimbabwe (LSZ) has challenged government to review its policy on pro bono lawyers funding, as part of the efforts to ensure effective justice delivery system.Government pulled away ...

By Staff reporter | Published: 16 August 2017

POLITICS

Mphoko's externalisation case drags on

A CASE in which former operations manager at Bulk Cash and Carry Wholesalers implicated Vice President Phelekezela Mphoko in the externalisation of millions of dollars involving Pakistan businessman I...

By Staff reporter | Published: 16 August 2017

BUSINESS NEWS

Mandiwanzira imposes infrastructure sharing

INFORMATION Communication Technology minister Supa Mandiwanzira has banned mobile network operators from individually constructing new base station towers, arguing the move has not only been outlawed,...

By Staff reporter | Published: 16 August 2017

MINING & RETAIL

Caledonia confident Blanket Mine will meet target

Desperate Blanket Gold Mine's output in the second quarter remaining largely flat at 12 521 ounces from 12 510 oz in the prior comparable period, parent firm Caledonia Mining Corporation remains confi...

By Staff reporetr | Published: 16 August 2017

BUSINESS NEWS

Zesa audit report complete

THE independent consultant engaged to audit the cost structure of Zesa Holdings has completed its work with the findings of the study, still being kept confidential, set to be presented to Cabinet for...

By Staff reporter | Published: 16 August 2017

BUSINESS NEWS

SA investor for Tokwe Mukosi

THE Zimbabwe Tourism Authority (ZTA) is on the verge of luring a South African investor, Cable-Way, to set up a cable car facility at Tokwe-Mukosi Dam in Chivi District to promote tourism.ZTA chief ex...

By Staff reporter | Published: 16 August 2017

LANDS & AGRICULTURE

Zimbabwe to receive $34m irrigation equipment

ZIMBABWE is set to receive irrigation equipment worth more than $34 million under the second phase of the Brazil $98 million More Food For Africa loan facility. The country first received agricultural...

By Staff reporter | Published: 16 August 2017

OPINION

The Zimbabwe dollar

THE year 1980 was a very good year indeed, not only for political reasons, but economic reasons as the Zimbabwe dollar was very strong against major currencies, even way stronger than regional currenc...

By Morris Mpala, MoB Capital Ltd | Published: 16 August 2017

BUSINESS NEWS

$20m poured into IDBZ for projects

THE Government has since January injected $20 million fresh capital into the Infrastructure Development Bank of Zimbabwe (IDBZ) to enhance its capacity in undertaking several projects across the count...

By Staff reporter | Published: 16 August 2017

BUSINESS NEWS

Textile Mills exits judicial management

ONE of the oldest textile companies in Bulawayo, Textile Mills, has come out of judicial management after its creditors approved a scheme of arrangement to recapitalise the company, an official has sa...

By Staff reporter | Published: 16 August 2017

BUSINESS NEWS

Motovac opens second branch in Bulawayo

A LEADING regional automotive spare parts retailer, Motovac Group, will open its second branch in Bulawayo tomorrow creating an additional 18 new jobs.The motor spares retailer set up its first base i...

By Staff reporter | Published: 16 August 2017

TRANSPORT & TOURISM

NRZ starts contract negotiations

THE National Railways of Zimbabwe (NRZ) management is this week expected to begin contract negotiations with the Diaspora Infrastructure Development Group (DIDG)/Transnet Consortium to turn around the...

By Staff reporter | Published: 16 August 2017

FINANCIAL SERVICES

Econet reduces MasterCard international limits

ECONET Wireless' mobile money transfer service EcoCash says it will be implementing international limit restrictions on its MasterCard debit card due to foreign currency challenges being experienced i...

By Staff reporter | Published: 16 August 2017

OPINION

Savings as solution to SME financing

Cash in hand allows the business flexibility to take immediate advantage of opportunities when they arise, but also gives the SME a critical cash cushion when things turn out not so well during lean p...

By Dr Sanderson Abel | Published: 16 August 2017

MINING & RETAIL

Youths deliver 300kg gold to Fidelity Printers

Over 6 000 Zanu-PF youths in Chegutu have delivered 300 kilogrammes of gold to Fidelity Printers and Refiners since 2014 worth an estimated $10 million.The artisanal miners formed the Danangwe Distric...

By Staff reporter | Published: 16 August 2017

MINING & RETAIL

Hwange gears up for underground mining

HWANGE Colliery Company Limited took delivery of its continuous miner on Sunday, which was being repaired in South Africa, as it presses ahead with plans to resume underground mining.The continuous mi...

By Staff reporter | Published: 16 August 2017

FINANCIAL SERVICES

EcoCash tightens transaction limit

Zimbabwe's cash crisis seems to be worsening every day, with Econet subsidiaries EcoCash and Steward Bank putting further restrictions on the foreign currency its customers can access for US dollar pa...

By Staff reporter | Published: 15 August 2017

FINANCIAL SERVICES

ZB engages Visa, card ready in Q3

ZB Financial Holdings is working towards the introduction of Visa cards in the third quarter of the year.Visa is a global payments technology company that connects consumers, businesses, banks and gov...

By Staff reporter | Published: 15 August 2017

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