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FINANCIAL SERVICES

Ecobank doubles full-year income

ECOBANK doubled its full-year earnings to December 2018 thanks to increased investments in fixed income securities, fee and commission income and net foreign exchange income.Interest and similar incom...

By Staff reporter | Published: 03 May 2019

POLITICS

Mnangagwa spends $100 000 on talks

GOVERNMENT had by end of March spent at least $100 000 on luxurious hotel accommodation and meals for the losing July 30 2018 presidential election candidates involved in a dialogue process initiated ...

By Staff reporter | Published: 03 May 2019

TRANSPORT & TOURISM

Meikles to sell hospitality assets

MEIKLES Limited is seeking approval from its shareholders to sell part of its hospitality assets. In a cautionary statement, Miekles company secretary Thabani Mpofu said talks of the asset disposal we...

By Staff reporter | Published: 03 May 2019

EDUCATION

Teachers not returning to their work stations next Tuesday

Zimbabwe teachers said yesterday they would not be returning to their work stations next Tuesday when the schools open for the second term, unless the government reviewed their salaries.Progressive Te...

By Staff reporter | Published: 03 May 2019

POLITICS

Tensions rising over Zimbabwe meltdown

TENSIONS continue to rise in Zimbabwe, with the government seemingly at sea about how to deal with the worsening economic situation in the country which has seen the prices of basic goods shooting thr...

By Staff reporter | Published: 03 May 2019

FINANCIAL SERVICES

StanChart scales down in Zimbabwe

STANDARD Chartered has retrenched more than 100 employees with more lay-offs planned as the bank has begun outsourcing some of its operations in Zimbabwe to countries such as Kenya, Malaysia, China an...

By Staff reporter | Published: 03 May 2019

ZIMBABWE

Foreign investors threaten ZSE pullout

The inability by foreign investors to repatriate capital and disinvestment proceeds from the country is hampering the performance of the Zimbabwe Stock Exchange, amid reports custodians are threatenin...

By Staff reporter | Published: 03 May 2019

INDUSTRIALS & ENERGY

Delta to revive malt exports as forex shortages continue to bite

Delta Corporation has invested close to US$4m in its barley contract-farming scheme, targeting a yield of 35,000 metric tonnes this year and with an objective of earning foreign currency from malt exp...

By Staff reporter | Published: 03 May 2019

MINING & RETAIL

Makomo Resources seeks US greenlight

COAL miner Makomo Resources says its output could increase significantly if the government allows the company to retain 100% of the revenue generated from exports.Director Raymond Mutokonyi told busin...

By Staff reporter | Published: 03 May 2019

TELECOMS & TECHNOLOGY

Strive Masiyiwa pockets $100m in dividends

STRIVE Masiyiwa has pocketed close to US$100 million as dividend payouts from his investment in Econet Wireless Zimbabwe (EWZ) since 2009, businessdigest has established.According to Econet Wireless Z...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Mnangagwa's govt in new US$5bn funding negotiations

A UNITED Kingdom-based international financial consultancy firm, ICG Capital and Finance Corps Limited - in partnership with five top-tier United States banks - has tabled a US$5 billion debt restruct...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Sanitary wear firm sets up shop in Bulawayo

A CHINESE owned company, Tiens International Group, plans to open a new sanitary wear plant in Bulawayo, whose products they claim have reproductive system healing qualities.  The firm participat...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Mine, farm workers least paid: Zela

Most mining and agriculture sector workers are among the least-paid despite working under hazardous conditions that threaten their lives and health, the Zimbabwe Environmental Law Association (Zela) h...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Zimra finalising fiscalisation project

Zimbabwe's tax agency says it is concluding implementation of its fiscalisation programme and that it will undertake the exercise without affecting business.The fiscalisation programme, which is aimed...

By Staff reporter | Published: 03 May 2019

LANDS & AGRICULTURE

Zimbabwe strikes US$2m agric deal with Japan

Zimbabwe has entered into a US$2 million agreement with Japan, targetted at smallholder agriculture as part of efforts to revive the sector.The Zimbabwe Smallholder Horticulture Empowerment and Promot...

By Staff reporter | Published: 03 May 2019

POLITICS

Chamisa sets up MDC congress appeals committee

AN MDC special committee has been put in place to deliberate on issues raised by some members to the party's national executive council (NEC), who are unhappy about the way the just-ended provincial c...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

GMB ex-employees turn on their lawyer

Former Grain Marketing Board (GMB) workers are at loggerheads with the lawyer who represented them after they were sacked on three months' notice in 2015 following the landmark Supreme Court ruling.Th...

By Staff reporter | Published: 03 May 2019

CONSTRUCTION & PROPERTY

Lafarge emerges from loss position to post US$1,3m profit

Lafarge Cement Zimbabwe Limited reversed its prior year-after-tax loss of US$0,6 million to a profit margin of US$1,3 million in the year-ended December 31, 2018, driven by growth in revenue and an e...

By Staff reporter | Published: 03 May 2019

OPINION

Mnangagwa should ensure rule of law is followed

THIS week, we carried a story in which President Emmerson Mnangagwa came to the rescue of 20 000 villagers who were being evicted from a piece of land in Domboshawa, where a Chinese miner wants to sta...

By Editorial - Newsday | Published: 03 May 2019

BUSINESS NEWS

Harare offers workers 5% pay cushion

Harare City Council has opened talks with its workers for a cost of living adjustment following a recent spate of price hikes that have eroded workers' incomes.Minutes of the council's joint finance a...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Tripartite negotiating forum establishment to address workers' plight

LABOUR and Social Welfare minister Sekai Nzenza says the establishment of a tripartite negotiating forum (TNF) would assist in addressing the plight of workers and in solving the economic crisis.Addre...

By Staff reporter | Published: 03 May 2019

MINING & RETAIL

Prospect considering Arcadia project financing options

PROSPECT Resources (Prospect) says it is currently reviewing multiple financing strategies for its Arcadia lithium project in Zimbabwe.The project is one of the largest hard-rock lithium resources in ...

By Staff reporter | Published: 03 May 2019

CONSTRUCTION & PROPERTY

PPC to invest dividends in govt bonds

CEMENT producer PPC Zimbabwe has, in the last five years, spent over US$140 million in plant refurbishments and it aims to invest some of its dividends in government bonds to increase local procuremen...

By Staff reporter | Published: 03 May 2019

CONSTRUCTION & PROPERTY

Larfarge projects high cement demand

LAFARGE Cement Zimbabwe has projected high demand for cement in the country this year on the back of growing housing developments despite rising inflationary pressures.  In a statement accompanyi...

By Staff reporter | Published: 03 May 2019

LANDS & AGRICULTURE

900 white Zimbabwe farmers register for compensation

AT least 900 white former commercial farmers who lost land during the country's agrarian reform have registered for compensation as Government intensifies efforts to pay them for improvements they mad...

By Staff reporter | Published: 03 May 2019
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