BUSINESS NEWS

Tax scam costs Govt billions

Some players in the garment-making sector are allegedly skimming the Government of billions of dollars in potential tax revenue and suffocating downstream textile industries by abusing a special cloth...

By Staff reporter | Published: 10 July 2019

LANDS & AGRICULTURE

Cyclone Idai costs Ariston Holdings US$1,5 million in damages

ARISTON Holdings Limited (AHL) says Cyclone Idai damaged the company's plantations in the Eastern Highlands, with early indications suggesting that the damage could be worth US$1,5 million."In March 2...

By Staff reporter | Published: 14 June 2019

FINANCIAL SERVICES

ZB adjusts housing project costs

ZB Financial Holdings Limited (ZBFH) is making pricing adjustments for its Plumtree housing project due to cost escalations, chief executive Ron Mutandagayi has said."The cost escalations have caused ...

By Staff reporter | Published: 04 February 2019

BUSINESS NEWS

Internet shutdown costs govt millions of dollars

THE government lost millions of dollars through delayed revenue inflows due to the slow processing of imports and exports after the switching off internet services countrywide.Government threw the cou...

By Staff reporter | Published: 20 January 2019

TELECOMS & TECHNOLOGY

Vandalism costs TelOne

DIVERSIFIED telecommunications firm, TelOne, has lost over US$3 million in the 10 months to October this year due to vandalism of network infrastructure.Of the US$3 million, US$2, 2 million was in los...

By Staff reporter | Published: 23 December 2018

TELECOMS & TECHNOLOGY

'Zimbabwe telecoms investment costs drop 35%'

ZIMBABWE's infrastructure sharing model has yielded up to 35 percent drop in the cost of investment in the information and telecommunications sector, which will largely benefit ordinary consumers and ...

By Staff reporter | Published: 10 December 2018

BUSINESS NEWS

Negligence costs Parirenyatwa Hospital $27 000

NEGLIGENCE by doctors at Parirenyatwa Group of Hospitals which resulted in a patient suffering a bile leak has proved costly after the High Court ordered the public institution to pay damages amountin...

By Staff reporter | Published: 28 November 2018

MINING & RETAIL

'Coal-bed methane exploitation to reduce AN costs'

The cost of Ammonium Nitrate (AN) fertiliser, which is largely on the upper side in the country mainly due to high costs of the major component, ammonia, is set to come down once coal - bed methane ga...

By Staff reporter | Published: 07 September 2018

MINING & RETAIL

New mining status costs Zimplats

ZIMPLATS, the country's largest platinum miner, says its profits declined by 94 percent in the year to June 2018 after the company changed its status from a special mining lease (SML) holder to mining...

By Staff repporter | Published: 06 September 2018

BUSINESS NEWS

'Review of taxes, utility costs'

THE change in the indigenisation laws and the ongoing ease of doing business reforms should be complemented with a deliberate review of taxes and utility costs, which continue to frustrate domestic pr...

By Staff reporter | Published: 18 July 2018

FINANCIAL SERVICES

Banks set to cut transaction costs

The cost of mobile and internet-based financial services is set for a significant drop after Government directed that the charge for Unstructured Supplementary Service Data (USSD), the technology plat...

By Staff reporter | Published: 21 June 2018

TELECOMS & TECHNOLOGY

Zimbabwe slashes mobile data costs significantly

Mobile data tariffs in Zimbabwe have fallen from 12.5 cents to 5 cents per MB, with the internet expected to play a key role ahead of harmonised elections slated for July 30 this year.The Posts and Te...

By Staff reporter | Published: 20 June 2018

POLITICS

Legal costs drown ZEC stewing in massive legal bills

With the clock ticking towards make-or-break harmonised polls on July 30, the Zimbabwe Electoral Commission (Zec) is stewing in massive legal bills following an increase in the number of election-rela...

By Staff reporter | Published: 05 June 2018

BUSINESS NEWS

Transport costs drive fuel prices outside Harare

Fuel dealers outside Harare that are selling the commodity at above government-stipulated prices say they are doing so to cover transportation costs for the fuel to towns outside the capital.A survey...

By Staff reporter | Published: 04 June 2018

BUSINESS NEWS

Poor public transport system costs Zimbabwe

A weak public transport system, particularly in urban areas, is responsible for the siphoning of the much-needed foreign currency as citizens import cars to take them to work, analysts say.This comes ...

By Staff reporter | Published: 25 May 2018

TRANSPORT & TOURISM

NRZ revival to ease HCCL transport costs

THE revival of the National Railways of Zimbabwe (NRZ) is expected to help Hwange Colliery Company Limited overcome the high costs of transporting coal by road, the company said in its results ending ...

By Staff reporter | Published: 03 April 2018

BUSINESS NEWS

$150 bribes costs nation millions

BEFORE the army-led Operation Restore Legacy, the occurrence of road accidents in Zimbabwe was attributed to failure by the traffic police to stem road carnage, as they were only keen to collect money...

By Staff reporter | Published: 12 March 2018

BUSINESS NEWS

Auto sliding doors reduce costs in air-conditioned buildings

Automated sliding doors are not only a cost-effective way of managing people's entry into and exit from frequently visited business premises but also reduce electricity costs in air-conditioned buildi...

By Chris Chinamhora | Published: 01 March 2018

BUSINESS NEWS

Bitmari slashes remittance costs

As efforts to boost Diaspora remittances into the country continue, a local firm Bitmari, says it has launched an affordable platform that can be used to send money from the United States. Bitmari, w...

By Staff reporter | Published: 29 November 2017

BUSINESS NEWS

High costs affect Zimbabwe competitiveness

THE country's cost of liquidity, power, labour, water, transport and finance are abhorrent to competitiveness, a new report has shown.According to the Zimbabwe National Competitiveness Report (ZNCR) r...

By Staff reporter | Published: 22 November 2017

LANDS & AGRICULTURE

Avian flu costs Irvine's $7.3 million

AN avian flu outbreak at Irvine's in May cost the country's largest chicken producer $7,3 million, a shareholder has disclosed, saying the quarantining of affected sites and culling of birds to preven...

By Staff reporter | Published: 05 October 2017

TELECOMS & TECHNOLOGY

TelOne pre-paid slashes voice costs

TelOne has slashed voice calls by more than 80 percent seeing on-net calls going down to 1cent per minute from 5 cents and mobile calls down to 4 cents from 16 cents. This reduction has come about thr...

By Staff reporter | Published: 14 September 2017

FINANCIAL SERVICES

Agribank trims staff costs

THE Agriculture Bank of Zimbabwe (Agribank) has reduced its staff cost to total income ratio by 25 percentage points in the past two years owing to aggressive cost containment.Minister of Finance and ...

By Staff reporter | Published: 24 August 2017

BUSINESS NEWS

Fuel fraud costs Zimbabwe $240m

ZIMBABWE could be losing at least $240 million annually to fuel fraud while globally at least $40 billion is lost to smuggling activities associated with subsidies, tax and price differentials worldwi...

By Staff reporter | Published: 10 August 2017

LANDS & AGRICULTURE

Wheat board pleads with govt over rising costs

THE Zimbabwe Wheat Board (ZWB) has pleaded with government to intervene over the soaring costs of wheat production.The ZWB yesterday met acting President Emmerson Mnangagwa (pictured), where they plea...

By Staff reporter | Published: 09 August 2017
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