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BUSINESS NEWS

Five-star hotel for Hwange

The Hwange local Board is courting investors for the construction of a 5 star hotel as the resort town seeks to boost tourism. Hwange Local Board town secretary Ndumiso Mdlalose said a site visit for...

By Staff reporter | Published: 10 September 2013

ZIMBABWE

ZSE moves closer to demutualisation

The Zimbabwe Stock Exchange has tendered for a legal adviser as it steps up efforts to finalise the demutualisation exercise which has been in the cards for years. In a tender notice recently, ZSE sai...

By Staff reporter | Published: 10 September 2013

FINANCIAL SERVICES

Govt to dispose 49% stake in Agribank

The government is expected to invite bids for potential investors to take up 49 percent stake in the Agricultural Development Bank of Zimbabwe (Agribank) to recapitalise the financial institution.In ...

By Staff reporter | Published: 09 September 2013

BUSINESS NEWS

Zimtrade & Investment Exhibition Summit - London 2013

On the 29th of November 2013, Zimbabwe Business Network (ZBN) launches it's inaugural Winter Trade and Investment Conference.The event,to be held at ILEC Conference Centre, Ibis London Earls Court, 47...

By B E Ngubeni | Published: 09 September 2013

BUSINESS NEWS

Zimra appoints energy liaison officer

THE Zimbabwe Revenue Authority has appointed a senior tax official to be the liaison officer on energy issues in an effort to ensure the sector plays its optimum role in the economy. Mrs Nhlanhla Gum...

By Staff reporter | Published: 09 September 2013

INDUSTRIALS & ENERGY

ZESA still to decide on debt write-off

Power utility Zesa Holdings said it is awaiting the appointment of a new Energy Minister to decide whether it should also write off domestic consumers' debts, the New Ziana reported.Pressure has been ...

By Staff reporter | Published: 09 September 2013

FINANCIAL SERVICES

Ngwerume and associates to acquire 3.5% of Old Mutual

FORMER Old Mutual Zimbabwe chief executive Mr Luke Ngwerume and his business associates Mr Toddy Moyo and Mrs Tracey Mutaviri will get a $12 million loan from the insurance group to acquire a 3,5 perc...

By Business reporter | Published: 09 September 2013

POLITICS

Mugabe's cabinet delay 'affecting economy'

Analysts have criticised President Robert Mugabe's delay in announcing a new cabinet, saying the development has intensified economic stagnation.Almost 40 days after winning the 31 July elections, the...

By Business reporter | Published: 09 September 2013

ZSE TODAY

ZSE heavyweights lead Industrials resurgence

Industrials maintained the upward trend on Monday buoyed by the positive performance of the market's blue-chips Delta, Econet and Innscor.Buyers scrambled for shares in the top 3 counters although sus...

By Staff reporter | Published: 09 September 2013

POLITICS

Mugabe still to announce Cabinet

There was high anticipation that President Mugabe would announce his new Cabinet at the weekend but Zimbabweans were disappointed when he failed to do so raising speculation that he is struggling to c...

By Staff reporter | Published: 09 September 2013

POLITICS

SA slams door on Zimbabweans

Concerns have been raised that South Africa could tighten screws on its policy on Zimbabwean asylum-seekers following the recent elections in that country being declared free and fair by regional pow...

By Staff reporter | Published: 09 September 2013

FINANCIAL SERVICES

Metbank snaps up Interfresh shares

Metbank Limited has snapped up a 32.1% stake in Interfresh Limited after taking up 63.7 million shares as the underwriters to the horticultural concern's poorly subscribed rights issue which closed la...

By Business reporter | Published: 09 September 2013

BUSINESS NEWS

CFU says $3 billion needed to revive agric sector

The Commercial Farmers' Union has revealed that at least $3 billion was required to rejuvenate the agricultural sector and mitigate the effects of hunger. CFU president Charles Taffs said last week ...

By Business reporter | Published: 09 September 2013

FINANCIAL SERVICES

Agribank posts half-year loss

The Agricultural Bank of Zimbabwe (Agribank) posted a $3.7 million loss for the 6 months ended June 30, 2013 due to low levels of lending and measures introduced by the Reserve Bank. The $3.7 million...

By Business reporter | Published: 09 September 2013

BUSINESS NEWS

CZI annual congress to be held in Bulawayo

The Confederation of Zimbabwe Industries will next month hold its annual congress in Bulawayo where several companies have closed shop or are struggling to survive due to lack of working capital and ...

By Business reporter | Published: 09 September 2013

BUSINESS NEWS

Firms fulfilling share pledges

FOUR mining companies in Masvingo have started fulfilling their Community Share Ownership Trust financial pledges with nearly $1 million having been paid since the official launch of the schemes earl...

By Business reporter | Published: 09 September 2013

FINANCIAL SERVICES

AfrAsia increases its footprint in Zimbabwe

AFRASIA HOLDINGS has entrenched its footprint on the Zimbabwe financial landscape and the economy in general after assuming a controlling interest in AfrAsia Kingdom Limited, which will be renamed Afr...

By Staff reporter | Published: 09 September 2013

FINANCIAL SERVICES

Zibawu protests against Barclays, NMB

The Zimbabwe Banks and Allied Workers Union says it will hold pickets against Barclays Bank while continuing with those against NMB Bank after negotiations for a salary increment for non-managerial w...

By Business reporter | Published: 09 September 2013

BUSINESS NEWS

CZI congress set for October

Industry representative body, the Confederation of Zimbabwe Industries (CZI) says it will hold its annual congress from the 9th to the 11st of October with the need to revive the local industry high ...

By Business reporter | Published: 09 September 2013

TELECOMS & TECHNOLOGY

TelOne requires $30m for recapitalisation

TelOne says it is still pursuing various strategies in the recapitalisation drive which is aimed at upgrading the parastatal's infrastructure and improving business viability.The telecommunications fi...

By Business reporter | Published: 08 September 2013

MINING & RETAIL

New Dawn warns of more Zim mine closures

TORONTO Stock Exchange-listed New Dawn says it might be forced to close its mining operations in Zimbabwe as a result of a fall in gold prices and its failure to obtain approval on an indigenisation...

By Business reporter | Published: 08 September 2013

BUSINESS NEWS

Increased regional trade contributed to Zim's tourist arrivals

The ZTA reports that increasing regional trade and commerce have contributed immensely to the growth of arrivals in the country.Zimbabwe recorded a 12 percent increase in tourist arrivals in the firs...

By Staff reporter | Published: 08 September 2013

BUSINESS NEWS

Sanganai-Hlanganani preparations begin

The Zimbabwe Tourism Authority (ZTA) has announced that registration for the 6th edition of the annual Sanganai/Hlanganani World Travel and Tourism Africa Fair has begun with eight countries already ...

By Business reporter | Published: 08 September 2013

INDUSTRIALS & ENERGY

Turnall to commission a 45,000 tile making plant

Turnall Holdings Limited is set to commission a 45 000 tile-making plant next month as the company angles to dominate the market and increase capacity utilisation. The managing director, Mr John Jere...

By Business reporter | Published: 08 September 2013

BUSINESS NEWS

Kariba business expo exhibitors decrease

THE second edition of the Kariba business expo and tourism show saw a decrease in the number of exhibitors and a low turnout which the organisers have attributed partly to the focus on the United vNa...

By Business reporter | Published: 08 September 2013

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