Business

Zim gold output falls 11 February 2019 Zimbabwe's gold output has fallen in volume terms. Gold is the single largest export earner in the southern African country, whose economy is flat lining as a result of lack of investment, electricity shortages and high cost of capital.
Zim to host Africa Forum Conference 11 February 2019 Zimbabwe will host the Africa Forum Conference in April 2019, which is being organised by the Chartered Institute of Logistics and Transport Zimbabwe (CILT).
PPC sets survival strategies 11 February 2019 PPC South Africa says its Zimbabwean unit will increase exports to neighbouring countries to sail through the impact of inflation and liquidity constraints on the business.
Govt asks BCC to lease out beerhalls 11 February 2019 Government has asked the Bulawayo City Council (BCC) to consider leasing out its dilapidated beerhalls to retail operators whose shops were damaged during last month's protest over steep increases in the price of fuel.
Cambria shores up shareholding in Radar 11 February 2019 Cambria Africa Plc (Cambria) says it is in discussions to increase its shareholding in Radar Holdings (Radar) in a development aimed at hedging the firm against currency uncertainty.
Zim moves to boost sunflower production 11 February 2019 Precision Oil Seeds International (Precision) says it has contracted farmers to plant over 15 000 hectares (ha) of sunflower this year in an effort to reduce importation of cooking oil raw materials.
RioZim suspends operations, again 9 February 2019 RIOZIM has suspended its operations again owing to foreign currency shortages.
NRZ posts staggering losses . . . new commuter rail service leaves company in the red 8 February 2019 The National Railways of Zimbabwe (NRZ) is posting staggering losses.
ZITF focuses on inclusivity 8 February 2019 The Zimbabwe International Trade Fair Company says this year's edition of the annual exhibition is focusing on inclusion of previously excluded groups and reaching out to the international community.
Finance minister calls for patience 8 February 2019 FINANCE minister Mthuli Ncube says the country should give his austerity measures a chance as they seek to stabilise the economy.
ZTA appoints acting CEO 7 February 2019 Acting CEO for ZTA
UK backtracks on Zim support 7 February 2019 THE United Kingdom (UK) says it may not back Zimbabwe's arrears clearance appeals with the international community following violent crackdowns in response to the recent fuel protests. UK's foreign secretary Harriet Baldwin said the use of force against civilians was going to see Zimbabwe's forme...
PPC profit margins under pressure 7 February 2019 PPC profit margins
Govt mustn't shut out local entrepreneurs' … Kurotwi bemoans state of the economy 4 February 2019 Following President Emmerson Mnangagwa's Eurasian tour — that took him to Russia, Belarus, Kazakhstan, Azerbaijan while he had to cancel his attendance at the World Economic Forum at Davos, Switzerland as Zimbabwe was burning in his absence — we heard that a Russian firm, Alrosa, and the Chinese ...
Is RBZ shifting position? 4 February 2019 THE Reserve Bank of Zimbabwe (RBZ) has given its clearest hint to date that the country is slowly re-dollarising.
CZI pokes holes into fuel rebate system 4 February 2019 The Confederation of Zimbabwe Industries (CZI) has raised concerns with the Zimbabwe Revenue Authority (Zimra) over the implementation of the fuel rebate system.
AMG, South African Mint ink landmark coin deal 29 January 2019 HARARE - African Medallion Group (AMG) has signed a landmark cooperation deal with a subsidiary of the South African Reserve Bank to resell and redistribute its gold and related products such as medallions and krugerrands The multi-year deal with AMG, founded by trailblazing Zimbabwean busines...
'Promote rule of law, protect businesses' 28 January 2019 HARARE - Mbudzi People's Market, situated on the outskirts of the capital along the Harare–Beitbridge highway is a teeming mall serving communities from the sprawling south western high density suburbs and recently was a subject of mobs who tried but in vain to disrupt business.  Reporter Bles...
Top executives for Vic Falls CEO Roundtable 27 January 2019 HARARE - The CEO Africa Roundtable is holding its annual gathering from February 13 to 15 in the resort of Victoria Falls, with business persons set to discuss two key topics — discovering new opportunities and forming lasting business relationships. Set for the classic Elephant Hills Resort H...
Edgars demerges from parent company Edcon 24 January 2019 HARARE - Edgars Stores Limited Zimbabwe has resolved to acquire 15 million shares for $1,5 million from parent company Edcon, allowing it to de-merge from the struggling holding company. This comes after South Africa's biggest clothing retailer Edcon — which owns Edgars, Jet, CNA and other bra...
Zim's livestock production prospects dim 24 January 2019 HARARE - Zimbabwe is likely to record subdued meat production this year due to foreign currency shortages, increased costs of production and high regulatory costs, the livestock industry has said. The Livestock & Meat Advisory Council (LMAC) said the country achieved record growth in egg and m...
Industry laments high forex costs 24 January 2019 HARARE - The Confederation of Zimbabwe Industries (CZI) says the manufacturing sector's cost of accessing foreign currency increased significantly in 2018. This comes as the country's intensifying foreign currency shortage has threatened the viability of businesses with manufacturers reportedl...
Powerspeed declares $500 000 dividend 23 January 2019 HARARE - Powerspeed Electrical (Powerspeed) has declared a dividend for the first time in over a decade worth over $500 000. The company — which declared a dividend of 0,4 cents per share for the year ended September 30, 2018 — recorded a $4,2 million profit, which was 285 percent profit surge...
Wood poachers feel the heat 23 January 2019 HARARE - The Sustainable Afforestation Association of Zimbabwe (Saaz) says it has teamed up with various stakeholders in an effort to combat rampant wood poaching in the country. Zimbabwe loses 300 000 hectares — equivalent to an area three times the size of greater Harare — annually due to de...
Dump bond notes, RTGS: Hanke 22 January 2019 HARARE - Zimbabwe should dump its discredited bond notes and real time gross settlement (RTGS) system and re-introduce the United States dollar as a way of solving the country's fragile currency situation and reduce inflation, economist Steve Hanke has said. The southern African country introd...
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