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BUSINESS NEWS

Telecel management mere placeholders

Fresh details have showed that excessive shareholder control and lack of management autonomy pushed out former Telecel Zimbabwe chief executive officer Francis Mawindi from the telecommunications fi...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

The money changers of Zimbabwe, osphatheleni - video

http://www.youtube.com/watch?v=8yY-eOXzvbQ ...

By Staff reporter | Published: 10 June 2013

ZSE TODAY

ZSE will no longer be allowed to regulate itself

THE Zimbabwe Stock Exchange will no longer be allowed to regulate itself owing to past abuses and malpractices and insider trading by the players, Finance Minister Tendai Biti has said. The minister ...

By Business reporter | Published: 10 June 2013

TELECOMS & TECHNOLOGY

Econet Wireless walks away with two Gold awards

At least 33 Zimbabwean companies yesterday received awards from a South African-based consultancy firm, PMR Africa. The awards were based on points that the companies accrued in a survey that PMR ca...

By Staff Reporter | Published: 10 June 2013

ZIMBABWE

Zimbabwe's year-on-year inflation rate goes down

Zimbabwe's year-on-year inflation rate for April 2013 shed 0,27 percentage points on the March 2013 rate of 2,76 percent to 2,49 percent, the Zimbabwe National Statistics Agency has said. This means ...

By Staff Reporter | Published: 10 June 2013

INDUSTRIALS & ENERGY

Delta Beverages posts another punchy set of results

Delta Corporation Limited, ZImbabwe's brewing giant, posted another punchy set of results showing a solid 39% growth in net income to $102.5m, beating analyst estimates of $96.0m for the final resu...

By Mafu Sithabile | Published: 10 June 2013

ZSE TODAY

ZSE: Industrials hits fresh all-time high in midweek trades

ZSE's Industrials closed at a fresh all-time high of 205.71 on Wednesday as investors continue to pile into a few selected counters.The Industrials Index gained 0.99 points or 0.48% to 205.71, an all...

By Business reporter | Published: 10 June 2013

MINING & RETAIL

Increase of taxes and royalties could impact New Dawn operation

New Dawn Mining said its operations and development plans in Zimbabwe could be impacted by various factors, including, for example, increased taxes and royalties, mining fees, power and labor costs,...

By Mafu Sithabile | Published: 10 June 2013

BUSINESS NEWS

Africom slapped with a $147,000 lawsuit

AFRICOM Holdings (Private) Limited has been slapped with a US$146 848 lawsuit for allegedly failing to pay for some CDMA wireless modems supplied to them by a local firm.Superpos (Pvt) Ltd claims it ...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Power shortages hamper setting up of platinum refinery, says Mimosa

Power shortages and a huge initial capital outlay of $2 billion are the major stumbling blocks to the setting up of a platinum refinery in the country, Mimosa Platinum Mines executive director Mr Her...

By Dosman Mangisi | Published: 10 June 2013

BUSINESS NEWS

Pension fund up by 1%

Employers and employees will pay more pension contributions to the National Social Security Authority (NSSA) after the raising of pension fund by one percent.The development, to be effected in June, ...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

Govt to sign agreement with Green Fuel

Government is to sign an agreement with Green Fuel this week to pave way for the issuance of a five percent mandatory blending licence.The agreement will see government owning a 51 percent share.The...

By Staff Reporter | Published: 10 June 2013

ZSE TODAY

ZSE: Industrials rebounds but closed off its all-time high

The market's mainstream Industrials rebounded on Tuesday, buoyed by gains in selected heavyweights, to dose at 204.72 but remained off its all-time high of 204.74 reached last Friday.The Industrials...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Coca-cola denies accusations of propping up MDC-T's electoral chances

COCA-COLA Zimbabwe has been forced to deny accusations that a new marketing campaign for its canned drinks is designed to shore up the electoral chances of the MDC-T.The pro-Zanu PF state-run Herald ...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

'Govt should not allow Telecel to appoint a Swedish national' - AAG

THE Affirmative Action Group says Government should not allow Telecel Zimbabwe to appoint Swedish national and Canadian resident Mr John Swaim as interim managing director of the mobile phone operato...

By Golden Sibanda | Published: 10 June 2013

BUSINESS NEWS

RBZ to raise minimum capital requirements for microfinance institutions

THE Reserve Bank of Zimbabwe plans to raise minimum capital requirements for microfinance institutions from the present US$25 000 to US$5 million as part of a cocktail of measures the central bank sa...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

NSSA increases pension benefits

Those who become eligible for a social security pension after next month will, if they are earning between $350 and $700 and have been contributing to the pension scheme since its inception, receive ...

By Mike Hamilton | Published: 10 June 2013

ZSE TODAY

ZSE: Industrials snaps 6-day rising streak at week's opening

ZSE shares opened the week lower as Industrials snapped a 6-day rising streak after giving in to losses in Econet and Innscor while Minings were dragged down by Bindura's loss.The Industrials Index d...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Investor interest sharpens in Imara Zimbabwe conference

The Zimbabwean government's quarterly report on the state of the economy has sharpened investor interest in the progress being made in the mining and agricultural sectors ahead of the upcoming Imara...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Emirates offers Zimbabwean travelers up to 10% discount

Emirates has announced a flash sale which will offer Zimbabwe travelers up to 10% discount on fares to selected destinations.Valid for tickets booked and purchased through Emirates website, the prom...

By Own correspondent | Published: 10 June 2013

INDUSTRIALS & ENERGY

Innscor faces penalty for not giving notice of NatFoods acquisition

Innscor Africa faces a penalty from the Competition and Tariff Commission for not giving notice of its intent to acquire a majority stake in National Foods. The commission noted during a stakeholder...

By Business reporter | Published: 10 June 2013

FINANCIAL SERVICES

MBCA, Mukuru in a money transfer partnership

MBCA Bank and Mukuru.com have partnered in providing instant money transfer service to MBCA and non-MBCA customers.MBCA Bank said it is pleased to be in partnership with Mukuru.com in the provision o...

By Staff reporter | Published: 10 June 2013

FINANCIAL SERVICES

Kingdom Bank stable, says Gono

The Governor of the Reserve Bank of Zimbabwe (RBZ) Dr Gideon Gono says he is aware of the dispute between founder of Kingdom Bank, Nigel Chanakira and Spiritage Group CEO, Matthew Wazara.In a statem...

By Business reporter | Published: 10 June 2013

ZIMBABWE

Risks in hotel investment in Zimbabwe

The Hotel Investment Conference Africa for 2013 was hosted in Durban this week.http://www.youtube.com/watch?v=F3h2fHeN3oc ...

By abndigital | Published: 10 June 2013

BUSINESS NEWS

Forced indigenisation of banks is uninformed, says Gono

Central Bank Governor Gideon Gono said plans to force foreign banks to sell majority stakes to black Zimbabweans are "uninformed.""The rush to indigenize the banking sector is more driven by emotions...

By Bloomberg | Published: 10 June 2013

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