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BUSINESS NEWS

Mnangagwa goes after currency manipulators

Zimbabwe's currency has taken relentless buffeting from surreptitious activities of only a few cash barons who are carelessly manipulating exchange rates on the foreign currency market with impunity, ...

By Staff reporter | Published: 05 October 2019

FINANCIAL SERVICES

'Bureaus not allowed to transact with corporates'

Bureaux de Change are not allowed to transact with corporates or enter into twining arrangements with customers to prefund foreign currency purchases, according to a directive from the Reserve Bank of...

By Staff reporter | Published: 05 October 2019

FINANCIAL SERVICES

Morgan & Co launches research app

Morgan & Co, a securities firm yesterday launched a research app that offers interaction between the capital markets and investors.The Morgan & Co Research App is meant to simplify the investm...

By Staff reporter | Published: 05 October 2019

BUSINESS NEWS

Zesa announces shock tariffs hike

HARD-PRESSED Zimbabweans will have to pay more for their power after Zesa Holdings hiked tariffs by a staggering 583 percent in a move set to trigger further rises in prices of goods and services in t...

By Staff reporter | Published: 05 October 2019

POLITICS

Tagwirei in trouble

Fuel Industry tycoon, Kuda Tagwirei is under pressure from parliament, to account for nearly $2bn in taxpayers funds that were used under the Command Agriculture Programme amid concerns of a veil of s...

By Staff reporter | Published: 05 October 2019

TELECOMS & TECHNOLOGY

Zimbabwean mobile operators enhance security at base stations

Zimbabwean operators have tightened security at their base stations amid rising numbers of cases of theft, vandalism, robberies and assaults on personnel at the sites, 263Chat reported. Mobile network...

By Staff reporter | Published: 04 October 2019

MINING & RETAIL

BNC disposes majority stake

AN unnamed local investor has snapped up majority shareholding amounting to 74,73 percent at Bindura Nickel Corporation (BNC) through a sale and purchase agreement. BNC company secretary, Mr Muchadeyi...

By Staff reporter | Published: 04 October 2019

FINANCIAL SERVICES

RBZ floats $300m additional TBs

THE Reserve Bank of Zimbabwe (RBZ) yesterday returned to the market with a fourth batch of treasury bills (TBs), this time seeking to raise ZWL$300 million to finance Government programmes. The latest...

By Staff reporter | Published: 04 October 2019

LANDS & AGRICULTURE

Cassava launches Vaya tractor services

Zimbabwe Stock Exchange-listed entity Cassava Smartech has once again, in its series of platforms, launched the Vaya tractor services to add to its Eco-farmer portfolio. The service was officially lau...

By Staff reporter | Published: 04 October 2019

ZIMBABWE

ZSE stocks recover by 40%

Stocks recovered by 40 percent in the month of September on the back of firming demand as risk aversion set in on the back of inflationary pressures and run-away exchange rate on the parallel market. ...

By Staff reporter | Published: 04 October 2019

INDUSTRIALS & ENERGY

Another Zesa tariff hike looms

THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has applied to the Zimbabwe Energy Regulatory Authority (Zera) seeking another adjustment of electricity tariffs, saying the curr...

By Staff reporter | Published: 04 October 2019

ZIMBABWE

Resurgent ZSE recovers in September

The ZSE added $8.78 billion in value during September as the local bourse closed the month 40% higher and the third quarter 14% higher. Overall, in nominal terms the month yielded 45 gainers and 3 fal...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

High Court sets EcoCash hearing date

The High Court on Wednesday set Friday as the date when it will hear the case in which the Reserve Bank of Zimbabwe (RBZ) ban on mobile money cash-in and cash-out services is being challenged.Cassava ...

By New Ziana | Published: 04 October 2019

BUSINESS NEWS

Mnangagwa to open ZMF conference

President Emmerson Mnangagwa is expected to deliver a keynote address at the Zimbabwe Miners Federation (ZMF) annual general meeting scheduled for November 5 to 6 at the Gweru Convention Centre in G...

By New Ziana | Published: 04 October 2019

INDUSTRIALS & ENERGY

Petrotrade declares $1.5 million dividend

Government-owned oil company, Petrotrade declared a $1.56 million dividend at the end of its 2018 financial year after managing to improve its profitability during the period, the company said on Thur...

By New Ziana | Published: 04 October 2019

TRANSPORT & TOURISM

Unifreight slams brakes on foreign borrowings

TRANSPORT and Logistics concern, Unifreight Africa Limited's chairman Peter Annesley says the company is going to limit foreign borrowings to minimise offshore liabilities in light of the exchange rat...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

ZimParks needs US$30 million for operations

THE Zimbabwe Parks and Wildlife Management Authority (ZimParks) needs about US$30 million annually to effectively run its operations, but the budget might be affected if the United States government's...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

Old Mutual Amazing Voices search comes to Bulawayo

A brand new talent search series, Old Mutual Amazing Voices, will be introduced on DStv in January with participants drawn from four countries including Zimbabwe set to compete for a US$100 000 prize ...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

11 500MW required to power Zimbabwe's Vision 2030

GOVERNMENT has called on the private sector to come on board and help increase investment in the energy sector to buttress attainment of an upper middle-income economy by 2030, which will require abou...

By Staff reporter | Published: 04 October 2019

OPINION

New Zesa board will have its work cut out

The tough talk by Energy and Power Development Minister Fortune Chasi to appoint a new Zimbabwe Electricity Supply Authority (ZESA) board is a noble idea because the country has been battling acute el...

By Beaven Dhliwayo | Published: 04 October 2019

FINANCIAL SERVICES

Zimbabwe's interbank market needs refinement

Local Industries claim they are yet to realise the benefits of the recently introduced interbank foreign currency market, as they continue to struggle accessing hard currency. The interbank market was...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

Prepaid electricity vending system up today

THE Zimbabwe Electricity Distribution Company (ZETDC)'s customers will from today be able to buy electricity tokens. This follows a short interruption of the system by the power utility for scheduled ...

By Staff reporter | Published: 04 October 2019

OPINION

Zimbabwe now a truly cashless society

THE monetary system the world over, including in Zimbabwe, over has undergone a sea of change in the past century. From barter trade, a world without money, there have been many other means of exchang...

By Staff reporter | Published: 04 October 2019

FINANCIAL SERVICES

Zimnat gets RBZ nod for offshore investment

INSURER, Zimnat, says it has received exchange control permission to invest policyholder's funds contributed in foreign currency in offshore financial markets. The exchange control approval relates to...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

RBZ develpps cold feet, brings back cash-in, cash-out

The Reserve Bank of Zimbabwe (RBZ) has today brought back the on cash-in, cash-out and cash-back facilities attached with stringent rules.In a statement,  the RBZ advised payment system providers...

By Staff reporter | Published: 02 October 2019
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