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ZIMBABWE

Zimra misses revenue target

The Zimbabwe Revenue Authority missed its revenue target for the first half-year to June by 1 percent as poor economic conditions negatively affected inflows to the fiscus.Zimra commissioner-general M...

By Staff reporter | Published: 22 July 2014

INDUSTRIALS & ENERGY

National Blankets needs $3,5m

TEXTILE giant National Blankets Limited requires $3,5 million working capital to bring back production to competitive levels, an official has said. The firm, which was placed under judicial management...

By Oliver Kazunga | Published: 21 July 2014

BUSINESS NEWS

Capital markets vital to economic growth

The Securities and Exchange Commission of Zimbabwe has said investment in shares promotes a savings culture necessary in the provision of low cost capital.Chief executive Tafadzwa Chinamo told parliam...

By Staff reporter | Published: 21 July 2014

ECONOMC INDICATORS

Broad money supply surges

Broad money supply surged by $318 million in the year to May 2014 as the country's deposits base responded to the positive effects of a successful tobacco season, the latest report from the Reserve Ba...

By Staff reporter | Published: 21 July 2014

FINANCIAL SERVICES

Barclaays launches Cashsend Craze Campaign

Barclays Zimbabwe has launched a campaign to send money for free to recipients in Zimbabwe through the ATM. The "Cashsend Craze Campaign" that will run until September 30, 2014 is aimed at providing c...

By Staff reporter | Published: 21 July 2014

FINANCIAL SERVICES

Old Mutual to set up infrastructure fund

OLD Mutual is setting up infrastructure and agriculture funds to support fiscal activity as the group sees economic rebound in the country, an official has said.Group chief executive officer Mr Jonas ...

By Conrad Mwanawashe | Published: 21 July 2014

INDUSTRIALS & ENERGY

Masawara in TA minorities buyout

Jersey-registered and London-listed Masawara is set to extend its control of Zimbabwe's largest holding company, TA Holdings by buying out minority shareholders in the group. Masawara - an investment ...

By Staff reporter | Published: 21 July 2014

BUSINESS NEWS

Coca-Cola empowers Zimbabwe women

Coca-Cola's assistant brand manager Vee Sibanda says at least 1,300 Zimbabwean female entrepreneurs have been empowered under its 5by20 empowerment programme. The programme seeks to address the most c...

By Charity Ruzvidzo | Published: 21 July 2014

MINING & RETAIL

Makomo Resources expects rise in production

MAKOMO Resources Limited has started commissioning its coal washing machine, with production expected to rise three-fold, a senior company official said last week.The coal washing plant is a facility ...

By Martin Kadzere | Published: 21 July 2014

INDUSTRIALS & ENERGY

Soft drink wage dispute reaches deadlock

The wage dispute between the soft drink manufacturing employees union and manufacturing employers association has reached a deadlock on the issue of wage increase forcing the two parties to approach t...

By Tinashe Makichi | Published: 21 July 2014

MINING & RETAIL

TM launch million dollar promotion

Meikles Limited retail arm, TM Supermarkets has launched a promotion worth over $1 million as the supermarket chain seeks to grow revenues and position in the retail sector. The promotion dubbed, TM a...

By Business Reporter | Published: 21 July 2014

TELECOMS & TECHNOLOGY

NetOne courts Zesa to boost subscriber base

Mobile network provider, NetOne says the ZESA pre-paid electricity vending platform through its mobile money service One wallet has potential to grow the subscriber base and push volumes.  In an ...

By Nelson Gahadza | Published: 21 July 2014

INDUSTRIALS & ENERGY

Makomo plans $1,5bn power plant

Makomo Resources (Pvt) Ltd, Zimbabwe's largest coal producer by output, said it plans to spend $1,5 billion on a 600-megawatt power plant and will also start exporting coal to steelmakers in southern ...

By Bloomberg. | Published: 21 July 2014

MINING & RETAIL

Meikles workers to control trust

MEIKLES workers say they are being sidelined in the Employee Share Ownership Trust but the company says the workers will this year take over the scheme following the lapse of the two-year period for t...

By Staff reporter | Published: 21 July 2014

ZIMBABWE

ZSE demutualisation MoU signing date set

The government and the Zimbabwe Stock Exchange will next week sign a Memorandum of Understanding for the demutualisation of the bourse.Demutualisation refers to a process by which a mutual organisatio...

By Staff reporter | Published: 21 July 2014

MINING & RETAIL

Pick n Pay spreads to Gweru

ONE of the country's biggest retail chain groups, TM Supermarket, is set to close its Gweru Branch supermarket and reopen at another site under the Pick n Pay brand in the city.Pick n Pay, a South Afr...

By Lovemore Zigara and Timothy Makhohliso | Published: 21 July 2014

TELECOMS & TECHNOLOGY

Econet subscribers pass 9 million mark

Econet grew its subscribers by 4,1 percent in the first quarter of the calendar year to just over 9 million taking its market share to 65,3 percent.However, industry wide, mobile operators' revenue in...

By Business Reporter | Published: 21 July 2014

TELECOMS & TECHNOLOGY

NetOne reincarnates the call box

NetOne has reinvented the old "callbox". This is a public telephone system that used to be operated by the then Post and Telecommunications Corporation, through the introduction of their own network b...

By TechnoMag | Published: 21 July 2014

TELECOMS & TECHNOLOGY

Telecel introduces debit card

Telecel Zimbabwe has become the first mobile phone operator to issue debit cards for its Telecash subscribers after it introduced a debit card which can be used to pay for goods or for withdrawals.The...

By Business Reporter | Published: 21 July 2014

INDUSTRIALS & ENERGY

United Refineries to increase oil production

UNITED Refineries Ltd, a Bulawayo-based agro processor is set to raise cooking oil output due to improved availability of cotton seed while it intends to resume stock feed production.Managing director...

By Staff reporter | Published: 21 July 2014

INDUSTRIALS & ENERGY

David Whitehead to resume operations

TEXTILE firm David Whitehead will resume operations in the next two months after the completion of maintenance work and the procurement of working capital support, the company's judicial manager Knowl...

By Martin Kadzere | Published: 21 July 2014

BUSINESS NEWS

Group Five to complete road rehab by December 2014

Group Five, the South African firm contracted to rebuild the Plumtree-Mutare highway, has said rebuilding the road to the same standards as South African Gauteng Freeways would have cost Zimbabwe abou...

By Lloyd Gumbo | Published: 21 July 2014

FINANCIAL SERVICES

New franchise business to add value to FML

FIRST Mutual Life's new franchise business is expected to contribute about 13 percent of budgeted new business to the company's premium income across all lines, an official has said.Launching the inau...

By Business Reporter | Published: 21 July 2014

INDUSTRIALS & ENERGY

Turnall unveils Ravenna concrete tiles

MINISTER of Industry and Commerce, Honourable Mike C Bimha, officially launched the Turnall Ravenna Concrete Tiles and Pavers at an event held at the group's premises in Southerton, Harare last month....

By Staff reporter | Published: 21 July 2014

ZIMBABWE

4 firms face ZSE suspension

FOUR companies on the Zimbabwe Stock Exchange (ZSE) risk getting suspended from trading on the bourse over breach of listing rules.The companies have breached their continuing obligations in terms of ...

By Oliver Kazunga | Published: 21 July 2014

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