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FINANCIAL SERVICES

Atlas Mara gives ABCH minority shareholders ultimatum

Atlas Mara Co-Nvest Limited (Atlas Mara) has given minority shareholders an ultimatum to sell their shares within six weeks to the United Kingdom-based company for $0,82 per share.This comes after sha...

By Staff reporter | Published: 21 June 2015

LANDS & AGRICULTURE

Zim poultry production up 22%

Zimbabwe's poultry industry total chick production went up by 22 percent to 78,4 million birds in 2014 from 64,4 million recorded in 2013, a latest industry report has indicated.According to Zimbabwe ...

By Staff reporter | Published: 21 June 2015

INDUSTRIALS & ENERGY

PG scheme of arrangement sanctioned

The High Court has given struggling PG Industries Zimbabwe Limited (PG) the green light to continue with its scheme of arrangement with concurrent creditors, after its last attempt to register its deb...

By Staff reporter | Published: 21 June 2015

ZIMBABWE

'Zim economy to regress further,' says IMF

Zimbabwe's economy is set to slump further this year due to continued decline in global commodity prices, fiscal challenges, and possible difficulties in policy implementation, the International Monet...

By Staff reporter | Published: 21 June 2015

ZIMBABWE

'ZSE to record negative growth'

The Zimbabwe Stock Exchange (ZSE) is expected to record negative growth this year due to political uncertainties and depressed economic activity, market experts have warned.Equities research firm Lynt...

By Staff reporter | Published: 21 June 2015

FINANCIAL SERVICES

Policy holders take Old Mutual to task

In South Africa (SA), they have got Theo Botha - the irrepressible shareholder activist - and Zimbabwe could be getting its own version in the form of businessman Chester Mhende.About two decades ago,...

By Staff reporter | Published: 21 June 2015

FINANCIAL SERVICES

Ailing economy bites insurance sector

Eight short-term insurance companies reported losses in the full year to December 2014 as Zimbabwe's moribund economy continues to affect the country's insurance industry.A report by the Insurance and...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Munyeza clinches more restaurant franchises

Businessman Shingi Munyeza has clinched three more international restaurant franchises as he seeks to extend his dominance in the fast-food sector.The former African Sun Limited chief executive, who a...

By Staff reporter | Published: 21 June 2015

INDUSTRIALS & ENERGY

'Zim better off with solar energy'

Zimbabwe must seriously venture into solar power generation for the country to address its electricity shortages and reduce load-shedding, economic experts say.This comes as the country is currently g...

By Staff reporter | Published: 21 June 2015

ZIMBABWE

Dawn Properties to delist?

Dawn Properties (Dawn) might delist from the Zimbabwe Stock Exchange (ZSE) following an offer to acquire minority shares by major shareholder Brainworks Capital Management Limited (Brainworks).Brainwo...

By Staff reporter | Published: 21 June 2015

INDUSTRIALS & ENERGY

SABMiller bemoans Zim economic decline

International brewing giant, SABMiller Plc, has expressed concern over the declining economic situation in Zimbabwe which saw net producer revenue (NPR) of its local unit - Delta Corporation - shrinki...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

'Zim ready to join London Bullion Market'

Zimbabwe is now ready to re-join the London Bullion Market Association (LBMA) after producing more than 10 tonnes of gold annually in the past two years, Finance minister Patrick Chinamasa has said.Th...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Zim engages four diamond cutters

Zimbabwe has engaged four international diamond cutting and polishing firms as part of the country's strategies to add value to its natural resources.President Robert Mugabe told thousands of party su...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Zimplats plans to retrench

Zimbabwe's largest platinum producer, Zimplats, is set to retrench 25 managers as part of the company's cost-containment measures in the face of declining international metal prices and a challenging ...

By Staff reporter | Published: 21 June 2015

FINANCIAL SERVICES

NMBZ secures $37m offshore credits

Dual-listed financial services group NMB Zimbabwe Holdings (NMBZ) is set to secure $37 million in offshore credits earmarked for on-lending to industry and various sectors of the economy, a top compan...

By Staff reporter | Published: 21 June 2015

INDUSTRIALS & ENERGY

Delta in profit warning

Beverages manufacturer Delta Corporation (Delta) has warned of lower profits for the full year to March 2015, citing "changes in the sales mix and the deliberate strategies to preserve volumes".Delta ...

By Staff reporter | Published: 21 June 2015

TELECOMS & TECHNOLOGY

Mobile revenues down 18%

Zimbabwean mobile operators' revenues in 2014 tumbled by 18 percent to $907,3 million from $1,1 billion recorded prior year on the back of a weakening economy and lower disposable incomes.Statistics r...

By Staff reporter | Published: 21 June 2015

ECONOMC INDICATORS

Zim broad money supply declines

Zimbabwe's broad money supply declined marginally from $4,34 billion in January to $4,33 in billion February this year, confirming the country's economic slowdown, statistics from the central bank sho...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Zim's mining, manufacturing sectors shed 30 100 jobs

The Zimbabwe National Statistics Agency (Zimstat) says 30 100 workers lost their jobs in the mining and manufacturing sectors last year."There has been a decline in the number of people employed in th...

By Staff reporter | Published: 21 June 2015

ZIMBABWE

Ailing economy condemns ZSE to six-year low

The Zimbabwe Stock Exchange (ZSE) witnessed its slowest quarter of trading since dollarisation in 2009 with market value declining by 41 percent to $69,74 million in the three months to March this yea...

By Staff reporter | Published: 21 June 2015

BUSINESS NEWS

'SA investors wary of Zim environment'

Prospective South African investors have expressed concern over bureaucracy and inefficiencies in the Zimbabwean business environment.Confederation of Zimbabwe Industries (CZI) president Charles Msipa...

By Staff reporter | Published: 21 June 2015

MINING & RETAIL

Platinum earnings down 11%

Zimbabwe's platinum earnings slumped 11 percent to $495 million last year from $554 million realised in 2013 due to depressed global platinum prices, latest Chamber of Mines (CoM) figures reveal.The r...

By Staff reporter | Published: 21 June 2015

LANDS & AGRICULTURE

Tobacco farmers earn $75m

Tobacco farmers have so far earned $75 million from the sale of 28,4 million kilogrammes (kg) of the golden leaf since the opening of the 2015 selling season last month.Figures released by the Tobacco...

By Staff reporter | Published: 21 June 2015

FINANCIAL SERVICES

European Investment Bank team arrives in Zimbabwe

A high level team from the European Investment Bank (EIB) is in Zimbabwe to assess the economic situation in the country, European Union (EU) Ambassador Philippe Van Damme has said.Van Damme told busi...

By Staff reporter | Published: 21 June 2015

BUSINESS NEWS

SA companies invest $1,2bn in Zimbabwe

South African companies have invested over $1,2 billion in Zimbabwe between 2003 and 2013 creating over 2 485 employment opportunities in the country, latest figures show.Jacob Zuma, South Africa's Pr...

By Staff reporter | Published: 21 June 2015

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