BUSINESS NEWS

Zimbabwe urged to replace imports with local produce

A Bassfisherman's ApproachACCORDING to recent statistics, the trade deficit between Zimbabwe and South Africa is  US$530 million. Zimbabwe is importing goods worth US$3,2 billion from South Afri...

By Ben Chiganze | Published: 10 June 2013

POLITICS

Senior Zanu-PF official threatens Tongaat Hullet

MASVINGO Provincial Governor Titus Maluleke has warned that the Government might be forced to take over Tongaat Hullet if the South African agro-industrial giant continues to frustrate the indigenisa...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Fuel prices go down

Zimbabwe's fuel prices have gone down by an average 8c after surging at least 10c following the hike of excise duty on the commodity. Petrol price which had increased to as much as $1,60 per litre h...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Credit bureau needed in Zimbabwe

TRUWORTHS Zimbabwe says the absence of a credit bureau in Zimbabwe was hampering efforts to reign-in bad debtors.Speaking at the presentation of the company's financial results for the interim period...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Agribank in shareholding wrangle

A DEAL that would have seen a foreign investor snap up a 35% equity in the Agricultural Bank of Zimbabwe (Agribank) collapsed after a wrangle for control of the bank erupted between two government mi...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Govt limits shareholding in banks

GOVERNMENT plans to limit individual and corporate bodies' shareholding by 5% and 25% respectively in any banking institution as part of instilling corporate governance and responsibility in the sect...

By Staff reporter | Published: 10 June 2013

OPINION

An analysis of the Zimbabwe economy

Speech made by Deputy Prime Minister Arthur O Mutambara at the Zimbabwe Investment Conference held South Africa, on April 3 2013.THERE is need to rethink the imperatives and meaning of a successful Z...

By A.O. Mutambara | Published: 10 June 2013

BUSINESS NEWS

Magara ready for leap of faith

AS Zimbabwean-born Ben Magara unbuckled the bungee jump harness after jumping off Victoria Falls bridge three weeks ago, his phone rang with the news that he had got the top job at the world's third-...

By Business Times | Published: 10 June 2013

BUSINESS NEWS

Banking amendments to affect most directors

GOVERNMENT is set to bar directors of banking institutions and holding companies from taking up similar positions in more than two other companies, according to proposed amendments to the Banking Act...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Zimra exceed target collections by 5%

The Zimbabwe Revenue Authority (ZIMRA) exceeded target collections for the first quarter of this year by 5 percent to reach US$818, 6 million, an official said yesterday. In a statement, ZIMRA boar...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

Zimbabwe rejects Telecel's indigenisation plans

Mystery surrounds Telecel Zimbabwe's indigenisation proposals amid indications that government is not satisfied with the company's plans submitted more than 2 weeks ago. Government had given Telecel...

By Staff reporter | Published: 10 June 2013

POLITICS

Zimbabwe to hike mining taxes to bankroll elections

Zimbabwe will increase mining royalties soon to raise $132 million to bankroll the forthcoming elections, Finance minister Tendai Biti has said.  The $100 million that had been promised by Pret...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

National Foods wins Best Zimbabwean Food Group Exhibit prize

National Foods won the prize for the Best Zimbabwean Food Group Exhibit at the Zimbabwe International Trade Fair in Bulawayo last week.Malawi President Joyce Banda, who was the guest of honour at t...

By Mike Hamilton | Published: 10 June 2013

BUSINESS NEWS

ZITF was an improvement

Professor Welshman Ncube has said the 54th Zimbabwe International Trade Fair (ZITF) was an improvement from last year because high quality products were showcased as compared to last year.The 2013 ...

By New Ziana. | Published: 10 June 2013

BUSINESS NEWS

Another airline joins the Zimbabwe route

Air Namibia joins Emirates and Ethiopian airlines that are offering flights between Harare and Lusaka.Air Namibia is introducing four flights per week between Harare and Lusaka, Zambia, starting tom...

By Business reporter | Published: 10 June 2013

BUSINESS NEWS

Street vendors to sell prepaid Zesa cards

Cash strapped Zimbabwe Electricity Supply Authority has upgraded its prepaid electricity meter system to allow users to buy coupons from street vendors and selected outlets.The system begins today, ...

By Staff reporter | Published: 10 June 2013

BUSINESS NEWS

'Resuscitate Bulawayo industries,' says Khupe

DEPUTY Prime Minister Thokozani Khupe says Bulawayo's collapsed industries could be revived if all stakeholders work together.Once the country's industrial hub, companies in Bulawayo have either clo...

By Staff reporter | Published: 10 June 2013

POLITICS

Zimbabwe now wants 51% equity at zero cost

The government is working on amending the controversial Indigenisation and Economic Empowerment Act to allow for non-payment of the 51% equity from foreign-owned companies, Fin24 reported.According ...

By Business reporter | Published: 10 June 2013

POLITICS

Chiyangwa calls for govt to resuscitate closed, distressed companies to create jobs

The Harare property tycoon and aspiring Zanu-PF candidate for Chinhoyi constituency Phillip Chiyangwa has called on government to resuscitate closed and distressed companies to create jobs for unemp...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

ZimFund launches infrastructure development project

The Zimbabwe Multi-Donor Trust Fund (ZimFund) has implemented the first phase of its $29.65 million Urgent Water Supply and Sanitation Rehabilitation Project (UWSSRP), which will see developments in...

By Staff reporter | Published: 10 June 2013

POLITICS

'Zimplats objection not an issue' says govt

Government says the decision by Zimplats to lodge an objection on the compulsory acquisition of excess reserves from the firm will not deter the country from ensuring that it exploits the vast plati...

By Staff Reporter | Published: 10 June 2013

BUSINESS NEWS

Zim government misses revenue target

ZIMBABWE missed its revenue target for the first quarter of the year, as Government warns this year's economic growth forecast may not be achieved.Finance Minister Tendai Biti said yesterday, in an ...

By Business Reporter | Published: 10 June 2013

BUSINESS NEWS

Imara expects big turnout at Zimbabwe investor conference

A large turnout of foreign delegates is expected to descend on the Zimbabwean capital of Harare for Imara's annual investor conference on June 3 and 4 as the event occurs on the probable run-in to t...

By Business reporter | Published: 10 June 2013

POLITICS

Infighting rocks Zimplats Community Share Ownership Trust

Development projects for the Mhondoro-Ngezi-Chegutu-Zvimba community share ownership trust are in limbo due to infighting among the 12 chiefs and other trustees of the three districts covered by the...

By Staff reporter | Published: 10 June 2013

POLITICS

Kasukuwere not backing down on StanChart indigenisation

THE National Indigenisation and Economic Empowerment Board has written to Standard Chartered Bank Zimbabwe threatening to revoke its licence if the British-owned bank does not comply with the countr...

By Staff reporter | Published: 10 June 2013

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