Latest News

INDUSTRIALS & ENERGY

Zim govt to maintain 10% stake in cooking oil giant

The government will maintain the remaining ten percent stake in cooking oil processing firm Surface Wilmar Investments to facilitate stable pricing models and the growth of cooking oil manufacturing i...

By Staff reporter | Published: 29 July 2017

BUSINESS NEWS

Zimbabwe govt to amend Labour Act

THE government is amending the Labour Act to address concerns raised by both workers and employees following the 2015 changes to the law, Public Service, Labour and Social Welfare Minister Prisca Mupf...

By Staff reporter | Published: 29 July 2017

BUSINESS NEWS

Zim fumes over call to hike vehicle import duty

THE Motor Industry Association of Zimbabwe (MIAZ) has reacted angrily to Speaker of the National Assembly Jacob Mudenda's proposal for a 150% hike on import duty for second-hand vehicles.Speaker of th...

By Staff reporter | Published: 28 July 2017

FINANCIAL SERVICES

RBZ tightens screws on banks

The Reserve Bank of Zimbabwe (RBZ) is considering tightening screws on the banking sector by planning to make public bank ratings which show the health of banks to protect depositors, a senior central...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Kariba South expansion project 91% complete

The Kariba South expansion project is at 91 percent complete amid indications that the first phase of the project will bring 150 mega watts on the national grid by December this year.The successful im...

By Staff reporter | Published: 28 July 2017

ZSE TODAY

Market Commentary 28 July 2017

INDUSTRIALSThe Industrial Index gained a further 0.84 points (0.42%) to settle at 202.06 points. ECONET (ECO.zw) advanced by an additional $0.0108 to close at $0.3918, SIMBISA (SIM.zw) was up by $0.00...

By zse | Published: 28 July 2017

INDUSTRIALS & ENERGY

Share price row rocks CFI group

The sale of a parcel of CFI Holdings shares valued at US$1,5 million to British business tycoon Nicholas Van Hoogstraten last Thursday is now caught in controversy amid allegations the trade was betwe...

By Staff reporter | Published: 28 July 2017

FINANCIAL SERVICES

Barclays to pay out $2,6m bonus

Barclays Bank Plc will pay out a £2 million (US$2,6 million) closing bonus to Barclays Zimbabwe Limited workers as the United Kingdom-based banking group divests from the local market after 105 years...

By Staff reporter | Published: 28 July 2017

POLITICS

Mugabe's office in tender scam

The Office of the President and Cabinet has unilaterally awarded a multi-million dollar project to a local firm called Univern Enterprises to implement the Zimtis without going to tender or ascertaini...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Business set conditions over SEZs regulations

BUSINESS says it will only accept labour regulations for Special Economic Zones (SEZs) if they meet certain conditions which include rationalising production and improving competitiveness, businessdig...

By Staff reporter | Published: 28 July 2017

OPINION

Zimbabwe outlook bleak despite projected growth

The presentation by Finance minister Patrick Chinamasa on July 20 was unique in that it was not a mid-term fiscal policy review, but rather a review of the 2016 fiscal year, combined with the outlook ...

By Daniel Ngwira | Published: 28 July 2017

OPINION

Effective use of language vital to managing

LIKE the old adage says, Language is a key to success! In the world of cutting edge business practice today, language has become a means to successful business operation.For most in leadership, manage...

By Robert Mandeya | Published: 28 July 2017

BUSINESS NEWS

CTC to block NatFoods merger

Innscor Africa Limited's plans to merge partial subsidiary companies, NatFoods and Profeeds are under threat following recommendations adopted by the Competition and Tariff Commission to block the dea...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

RTG shareholders divided on group’s future

Major shareholders in ZSE listed hotelier RTG are deeply divided on strategy around handling the group’s creditors and debtors as well as the fate of a sizeable stake in the business which has been ...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Mobile money constitutes 12.5% of NPS transactions

Mobile transactions now constitute 12.5 percent of the national values and around 70.6 percent of volumes for the month ending June 2017. This comes at a time when the cash shortages currently being e...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Massive board shake-up looms at Zinara

Heads are set to roll at National Roads Fund Administrator (Zinara) following revelations of a massive board shake-up that could also claim the scalps of executives and its long serving chairman. Info...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Brainworks in $6m tax 'glitch'

Brainworks Capital Management (BCM) has been garnished by the Zimra over failure to pay in $6 million tax debts, it has emerged. The firm's non-executive director, George Manyere said that the garnish...

By Staff reporter | Published: 28 July 2017

TRANSPORT & TOURISM

Zim Tourism Expo uptake surpasses expectations

PREPARATIONS for the 10th edition of Hlanganani/Sanganai World Tourism Expo are progressing well, with 240 companies having registered so far to participate, organisers of the event have revealed.The ...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

'Zimbabwe must resolve currency problem'

Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) executive director, Caleb Fundanga has said Zimbabwe must make a clear and final decision on the currency in use...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

'Zim parastatals unaudited for 10 years'

DEPUTY Chief Secretary to the President and Cabinet Ray Ndhlukula says some State enterprises have not produced audited financial results for the past 10 years and were contributing far less to the ec...

By Staff reporter | Published: 28 July 2017

POLITICS

Parliament rejects Auditor General appointee Ndudzo

FINANCE and Economic Development Minister Patrick Chinamasa was yesterday forced to suspend debate on the nomination of Industrial Development Corporation general manager Mr Mike Ndudzo as new Auditor...

By Staff reporter | Published: 28 July 2017

INDUSTRIALS & ENERGY

Delta depot closure opens way for cheap imports, smuggling

THE closure of Delta Corporation's Victoria Falls depot this week is likely to open floodgates for cheap imported beverages and negatively affect local dealers in the resort town, the local business c...

By Staff reporter | Published: 28 July 2017

MINING & RETAIL

Zim engages foreign chrome buyers

THE Minerals Marketing Corporation is directly engaging foreign chrome ore buyers to achieve premium prices and better returns for small-scale producers in a bid to cushion them from middlemen who are...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Gold reserves to back Zimbabwe currency

Government is building diamond and gold reserves to back the local currency upon its re-introduction in future, Vice-President Emmerson Mnangagwa has said. VP Mnangagwa refused to disclose when the lo...

By Staff reporter | Published: 28 July 2017

BUSINESS NEWS

Mnangagwa moots resurrecting Zimdollar

Vice-President Emmerson Mnangagwa has revealed that the defunct Zimbabwean dollar could soon be resurrected, as the government is gradually piling up gold and diamond reserves to back it up since they...

By Staff reporter | Published: 28 July 2017

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