Business

Zim tourist arrivals marginally increase 17 June 2019 ZIMBABWE recorded a one percent increase in tourist arrivals during the first quarter of 2019 at 558 061 from 554 417 recorded during the same period in 2018, new statistics show. The 2019 first Quarter Treasury Bulletin, attributed the marginal growth as being driven by a six percent increase in...
Coca-Cola in recycling drive 17 June 2019 THE Coca-Cola Company (TCCC) says it is designing its packaging to be 100 percent recyclable across its expanding portfolio by 2025, in a move that is aimed at reducing waste. The international beverages manufacturer said by 2030, all its packaging will contain 50 percent recycled materials withi...
Plaudits for Simbisa Brand. . . for winning Top Companies 2019 award 17 June 2019 ANALYSTS have lauded fast food chain Simbisa Brands (Simbisa) for winning the Top Companies Survey 2019 Award for the best performing Zimbabwe Stock Exchange (ZSE)-listed company. In their citation, judges and analysts said Simbisa has consistently been among the top-performing companies in Zimba...
Chasi divides energy sector opinion 16 June 2019 © ON March 20 this year, former Energy minister Joram Gumbo announced a new board for Zesa Holdings, the power utility. Its brief was to oversee the re-bundling of the power utility, fight corruption and improve power supply.
Council rates to track interbank rate? 16 June 2019 © LOCAL authorities are contemplating charging for services in a manner that reflects the prevailing exchange rate on the interbank market.
Mthuli Ncube: From messiah to villain? 16 June 2019 © WHEN President Emmerson Mnangagwa appointed Mthuli Ncube as Finance minister in September last year, the Zanu PF leader received plaudits for entrusting the country's economic revival in the hands of a respected technocrat.
Is Zim ready for new currency? 16 June 2019 © AT what point should Zimbabwe have its own currency? This is the million dollar question and the answers do not come easy.
Paynet saga: Nssa delays payments 14 June 2019 THE National Social Security Authority (Nssa) says June payments to some pensioners have been delayed due to the suspension of services by payment service vendor Paynet Zimbabwe (Paynet). The payment service provider, which is a subsidiary of AIM-listed investment firm Cambria, says it suspended...
Zimplow operating profit in massive jump 14 June 2019 © ZIMPLOW says group operating profit for the five months to May 2019 grew 784 percent to $13,4 million compared to same period last year, driven by growth in volumes and impact of exchange rate movements. Vimbai Nyakudya, the group's chief executive officer, told shareholders at an annual general..
SeedCo records $91m profit 14 June 2019 © SEEDCO Holdings (SeedCo), one of Africa's largest seed producers, says it recorded $91million profit after tax in the 12 months to March 2019 up from $21,4 million in 2018.  
BNC delays results 14 June 2019 © BINDURA Nickel Corporation (BNC) says its results for the year ended March 31, 2019 will be delayed due to adjustments, which the company made following recent monetary reforms in Zimbabwe. 
Ariston records $8m revenue 14 June 2019 © ARISTON Holdings (Ariston) says its revenue for the six months ended March 31, 2019 went up by 50 percent compared to prior period despite the disturbances caused by Cyclone Idai.
Industry supports  electricity tariff hike 13 June 2019 © THE Confederation of Zimbabwe Industries (CZI) says it would support an upward electricity tariff if this will help to reduce load shedding.
Govt approves four gold service centres 13 June 2019 © GOVERNMENT has approved the establishment of four gold centres around the country to increase gold deliveries to Fidelity Printers and Refiners (FPR).  
Zim property rentals shoot up 12 June 2019 © RENTAL fees in Zimbabwe's volatile property market have shot up by 80 percent in the past six months, as real estate owners respond to the country's deteriorating economic situation highlighted by rampaging inflation and rising costs, a new report has revealed.
'Levies, taxes suppress insurance' 12 June 2019 © THE Insurance Council of Zimbabwe (ICZ) says levies and taxes on insurance premiums have made insurance unaffordable in the country, threatening the profitability of the industry and exerting pressure on the country's insurance penetration.
Stanbic, Zimplats help people with albinism 12 June 2019 © STANBIC Bank Zimbabwe (Stanbic) and Zimplats have combined forces to support people with albinism.
SA loses African Gold crown to Ghana 12 June 2019 © SA loses African gold crown to GhanaSOUTH Africa's struggling gold industry has suffered yet another humiliation, losing its status as the continent leader to Ghana.
Simbisa wins top companies award survey 10 June 2019 © ZIMBABWE Stock Exchange-listed fast food operator, Simbisa Brands, was on Friday-night crowned the best performing company on the local bourse at the Financial Gazette's Top Companies Survey 2019 sponsored by financial services giant, Old Mutual Zimbabwe. The aim of the survey is to promote ...
Lafarge banks on new policies 10 June 2019 © LAFARGE Cement Zimbabwe (Lafarge) says government measures to stabilise the country's macro-economic environment will pay dividends. Kaziwe Kaulule, Lafarge's chief executive officer, said the group looks forward to increasing production and sales volumes as well as reinvesting in the business....
Ipec suspends Regal Insurance 10 June 2019 © THE Insurance and Pensions Commission, (Ipec) has suspended Regal Insurance (Regal) from underwriting any business following an investigation into the affairs of the company. Regal is being investigated on allegations of fleecing policy holders and failure to settle policy claims. Blessmore Kaz...
Prospect seeks  funding for Arcadia 10 June 2019 © PROSPECT Resources (Prospect) says it is in discussions with international financial institutions for possible project financing of its Arcadia Lithium project in Zimbabwe.
Wage increase for sugar  industry 10 June 2019 © WORKERS in the sugar milling industry have been awarded a 45 percent salary increase to cushion them against the harsh economic conditions, government has  announced.
Short-term insurers show resilience 9 June 2019 © THE Insurance and Pensions Commission (Ipec) says the non-life insurance industry has shown resilience after registering a 17,29 percent growth in gross premium written (GPW) in 2018, despite a challenging environment.
Former Telecel CEO suspended 7 June 2019 © TELECEL Zimbabwe (Telecel) board has suspended its former chief executive Francis Mawindi as a board member with immediate effect over alleged breach of the common law fiduciary duty of confidentiality. This comes after a letter to the board recommending the firing of his successor Angeline Ver...
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