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INDUSTRIALS & ENERGY

ZESA set to increase power exports to Namibia

State-run Zimbabwe Electricity Supply Authority (ZESA) senior officials are expected to meet with executives from Namibia's electricity company NamPower and finalise some on-going negotiations for the...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

Command Agriculture facing financial challenges

LAST week, the Government of Zimbabwe announced that its Command Agriculture programme shall look to be financed by the banking sector. The country's planting season is already upon us. Field preparat...

By Chris Chenga | Published: 30 September 2019

BUSINESS NEWS

RBZ bans Cash In and Out with immediate effect

The Reserve Bank of Zimbabwe has directed mobile payment system providers and merchants to discontinue cash in and cash out with immediate effect while it has also directed economic agents to disconti...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

Zimbabwe enforces exclusive use of Zimdollar for domestic transactions

Government has reinforced legislation which formalised the use of local currency by empowering the Reserve Bank of Zimbabwe (RBZ) to issue civil penalties for contravention and also applying criminal ...

By Staff reporter | Published: 28 September 2019

POLITICS

Mugabe body smuggled out to Zvimba in Mnangagwa's absence

ZANU PF has confirmed being betrayed by late former President Robert Mugabe's family which secretly wheeled the ex-leader's body to Zvimba Thursday for a private burial Saturday.Mugabe's party said in...

By Staff reporter | Published: 28 September 2019

POLITICS

'Mugabe's burial place was never negotiable'

Despite weeks of controversy and confusion regarding the burial of former Zimbabwean president Robert Mugabe, the decision was finally taken to bury him at his rural village at Kutama in Zvimba distri...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Zimbabwe teachers renew fight for improved salaries

RURAL teachers have threatened fresh protests to push the government to improve their salaries.Amalgamated Rural Teachers' Union of Zimbabwe (Artuz) president Obert Masaraure said salaries for civil s...

By Staff reporter | Published: 28 September 2019

MINING & RETAIL

Makomo Resources hit by forex shortages

COAL miner Makomo Resources is only getting about 50% of its foreign currency requirements for the importation of critical inputs like spares, a situation that has crippled its production, an official...

By Staff reporter | Published: 28 September 2019

FINANCIAL SERVICES

Inflation headache for NBS

THE National Building Society (NBS) says it has applied strict cost repression measures in order to contain the effects of inflation.Zimbabwe's inflation rate has been on the rise and quickened furthe...

By Staff reporter | Published: 28 September 2019

POLITICS

Mugabe buried in low-key ceremony

The body of Zimbabwe's former president Robert Mugabe was buried on Saturday in his rural village of Kutama, an AFP reporter at the scene said.The family of Mugabe gathered in his rural homestead, thr...

By Staff reporter | Published: 28 September 2019

ZIMBABWE

ZSE bearish with a 0.35% drop as big caps trade negatively

The ZSE retreated by 0.35% with gains in Innscor, BAT and Zimre failing to prop up the bourse against losses for blue-chips Old Mutual and Econet. At the close of trade, market turnover reached Z...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Starafrica eyes 10% increase in exports

After concluding an agreement with ZETDC last month to ensure continuous power supply to the factory, Starafrica Corporation intends to recover 10% of production lost by accelerating export sales in t...

By Staff reporter | Published: 28 September 2019

INDUSTRIALS & ENERGY

Forex earnings boost Afsun H1 as group embarks on major soft refurbishments

Foreign currency earnings, which constituted 45% of revenue, helped African Sun post a 765% increase in the bottom-line for the half year to June 30.  This is in spite of a drop in occupancy leve...

By Staff reporter | Published: 28 September 2019

BUSINESS NEWS

Chartered secretary's role in governance remains important

The chartered secretary's role is just as important today as it was when the profession first emerged after the establishment of limited companies in the nineteenth century, the director general of th...

By Staff reporter | Published: 27 September 2019

FINANCIAL SERVICES

GCR upgrades Zimnat General Insurance rating to A+

Global Credit Rating (GCR) has revised Zimnat General Insurance's national scale financial strength rating to A+(zw) Stable Outlook, from its previous rating of A-(zw).The financial strength rating (f...

By Staff reporter | Published: 27 September 2019

MINING & RETAIL

Caledonia eyes 75 000 ounces gold output

CALEDONIA Mining Corporation, which owns Blanket Mine in Matabeleland South province, targets to increase gold output to 75 000 ounces in 2021 as the mine has begun focusing on increasing output. &nbs...

By Staff reporter | Published: 27 September 2019

MINING & RETAIL

Zimbabwe to auction 500 000 carats

THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it will conduct another diamond auction before the end of the year targeting to sell between 400 000 and 500 000 carats. A fortnight ago, MMC...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

TelOne loses $500k to vandalism

TelOne lost about $500 000 over the weekend when small-scale miners vandalised network infrastructure while panning for gold in Mashonaland West Province. The $500 000 was lost in restoring services a...

By Staff reporter | Published: 27 September 2019

TELECOMS & TECHNOLOGY

Xiaomi's new smartphone other smartphones look old-fashioned

Chinese tech giant Xiaomi just revealed on Tuesday a new 5G concept smartphone called the Mi Mix Alpha. It has a screen that wraps almost all the way around the phone, and it looks utterly incredible....

By Staff reporter | Published: 27 September 2019

FINANCIAL SERVICES

Old Mutual explains half-year cash outflows

Old Mutual Zimbabwe Group says it was not involved in buying foreign currency on the local foreign currency markets, in view of significant cash outflows that was notable during the half-year to June ...

By Staff reporter | Published: 27 September 2019

TRANSPORT & TOURISM

Zim tour operators accuse Botswana of unfair business practice

ZIMBABWE'S tour operators have alleged unfair business practices by their Botswana counterparts, whereby they bring their clients straight to the country instead of letting them do that on their behal...

By Staff reporter | Published: 27 September 2019

BUSINESS NEWS

Zimra sweats over tax defaulters

THE Zimbabwe Revenue Authority (Zimra) is sweating over the fiscalisation of companies after it emerged that some entities have not connected the recording of their taxable transactions on the fiscal ...

By Staff reporter | Published: 27 September 2019

POLITICS

Mangudya summoned to court

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya was yesterday summoned by a Harare magistrate Lazini Ncube to testify in a matter where Kwekwe businessman Shepherd Tundiya is facing charges of d...

By Staff reporter | Published: 27 September 2019

FINANCIAL SERVICES

Zimdollar plunges after weekend gains

The value of the Zimbabwe dollar yesterday plunged against the United States dollar after stabilising at the weekend following the Reserve Bank of Zimbabwe (RBZ)'s decision to freeze bank accounts of ...

By Staff reporter | Published: 27 September 2019

POLITICS

Grace kicks out Zvimba chiefs from Mugabe mansion

TRADITIONAL leaders from Zvimba were on Friday reportedly kicked out of the late former President Robert Mugabe's Blue Roof mansion by the ex-leader's widow Grace as the feud over the final resting pl...

By Staff reporter | Published: 27 September 2019
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