Business

AMG gets permission to import basic commodities 20 November 2018 HARARE - The African Medallion Group (AMG) has been given a green light by government to import basic commodities into the country, in a move which is expected to ease shortages and reduce prices during the festive season. This was after President Emmerson Mnangagwa's administration recently r...
10ngah.com makes shopping convenient 20 November 2018 HARARE – Online retailer, 10ngah.com, will this week commence Black Friday sales for Zimbabwean customers seeking bargains ahead of the festive season. The retailer's shopping bonanza, which begins today (Monday), will also provide easier access to Black Friday deals online and debut some new ...
AfDB economic report showcases Zim investment opportunities 19 November 2018 HARARE - The African Development Bank (AfDB) has launched a flagship economic report highlighting investment opportunities in Zimbabwe. Titled: Building a new Zimbabwe: Targeted policies for growth and job creation, the report aims to support renewal and transformation of the country. This ...
'China can assist in re-industrialisation' 19 November 2018 HARARE - China has the potential to finance Zimbabwe's re-industrialisation strategy following a significant increase in trade between the two countries, economic analysts have said. This comes as China's commercial success has been largely interpreted as the result of economic and political r...
Online retailer makes shopping convenient 19 November 2018 HARARE - Online retailer, 10ngah.com, will this week commence Black Friday sales for Zimbabwean customers seeking bargains ahead of the festive season. The retailer's shopping bonanza, which begins today (Monday), will also provide easier access to Black Friday deals online and debut some new ...
Tongaat ups sugar production 19 November 2018 HARARE - Tongaat Hulett says sugar production at its Zimbabwean unit increased by 9,2 percent to 306 000 tonnes in the six months period ended September 30, 2018, compared to 280 000 tonnes in the same period in 2017 driven by increased water availability and accelerated sugarcane root replanting...
RBZ increases forex allocation to gold miners 17 November 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) has increased the amount of foreign exchange that gold companies can retain after a shortage forced some mines to close. Metal producers in Zimbabwe have been struggling to meet production costs because of the shortage of hard currency. That forced R...
Zim informal sector rises to 95pc 16 November 2018 HARARE - The number of Zimbabweans earning a living from the informal sector rose to 95 percent in 2014 from 84 percent in 2011, a new study by the International Labour Organisation (ILO) has revealed. The latest statistics, captured in a research titled the “Zimbabwe Assessment Report on the ...
Zim tourism needs more visibility 16 November 2018 HARARE - The Tourism Business Council of Zimbabwe (TBCZ) says the country should do more to improve its visibility on the international tourism map. Tich Hwingwiri, the TBCZ president, said various stakeholders should come up with a comprehensive marketing strategy to market the country as an ...
Potraz calls for policy makers' collaboration 15 November 2018 HARARE - The Postal and Regulatory Authority of Zimbabwe (Potraz) has called for collaboration among various stakeholders to ensure that the country achieves its desired targets in the information and communication technology (ICT) sector. Zimbabwe is currently experiencing acute foreign curre...
Border Timbers shares suspended 13 November 2018 HARARE - Border Timbers shares were yesterday suspended from trading at the Zimbabwe Stock Exchange after the company failed to publish its financial results. The timber producer has not been able to publish its results because of international arbitration proceedings between the company, othe...
Steward Bank in massive profit growth 13 November 2018 HARARE - Steward Bank achieved a 123 percent growth in profits to $19 million during the six months ended August 31, 2018 compared to $8,5 million same period prior year. Bernard Chidzero, the bank's chairperson, said the double digit growth, which was recorded despite an extreme challenging e...
Old Mutual, Delta excite foreign buyers 13 November 2018 HARARE - Foreign investors were net buyers of $1,3 million shares on the Zimbabwe Stock Exchange (ZSE) in last week, with particular interest in Old Mutual and Delta Corporation. According to figures from the local bourse, foreign purchases accounted for $13,3 million worth of shares while sal...
ZCDC under fire 12 November 2018 HARARE - The Zimbabwe Consolidated Diamond Company (ZCDC) has come under fire from various stakeholders for roping in artisanal miners in the lucrative sector. This was after ZCDC chief executive Morris Mpofu last week indicated that the State-owned firm was mulling to introduce small-scale mi...
Two cents tax unsustainable: CZI 12 November 2018 HARARE - Industry says the controversial Intermediary Money Transfer Tax should be amended in the upcoming 2019 National Budget to improve the ease of doing business in the country. The Confederation of Zimbabwe Industries (CZI), in its budget proposal submissions, pointed out that the two per...
Mimosa output slips 2pc 10 November 2018 HARARE - Mimosa Mining Company (Mimosa) has reported a 2,1 percent decrease in milled platinum to 702 000 tonnes in the first quarter ended September. Mimosa — which is majority owned by South African giant miner, Sibanye-Stillwater — said the decrease in milled platinum had been a direct resu...
Caledonia Mining eyeing ZMDC assets 10 November 2018 HARARE - United Kingdom mining firm, Caledonia Mining, is among the bidders for assets the Zimbabwean government has put under the hammer. These are assets owned by State-owned mining company, Zimbabwe Mining and Development Corporation (ZMDC), which are being sold by the southern African coun...
Simbisa Brands launches Dial-A-Delivery Application 10 November 2018 HARARE - Zimbabwe Stock Exchange-listed fast foods operator, Simbisa Brands, has launched a new technological application which will form a core part of its market strategy going forward. The Dial-A-Delivery Application, which the company unveiled recently, is meant to position the business as...
Govt warns insurance players 9 November 2018 HARARE - Zimbabwe's insurance industry has been urged to tread carefully when dealing with clients as a way of boosting confidence in the fragile sector. The southern African country used to have a vibrant insurance industry in the 1990s, but confidence plummeted in the aftermath of hyperinfla...
SmarTech pushes Econet revenue up 8 November 2018 HARARE - Econet Wireless Zimbabwe Limited (EWZL) has announced $600 million dollars in half-year revenue to 31 August 2018, up from $ 353 million in the same period last year, on the back of a strong performance by its SmarTech business unit. The conglomerate, which is well on its way to becom...
'TBs records in shambles' 8 November 2018 HARARE - Government's issuance register for Treasury Bills (TBs) and bonds is in shambles, which makes it difficult to detect missing or unrecorded commercial paper. This observation was made by the Auditor-General (AG) Mildred Chiri in her 2017 audited report tabled in the National Assembly l...
ZSE suspends Hwange 6 November 2018 HARARE - Hwange Colliery Company Limited (Hwange) has been suspended from the Zimbabwe Stock Exchange (ZSE) after the troubled coal miner was placed under administration. Last week, Justice minister Ziyambi Ziyambi — using the Reconstruction of State-Indebted Insolvent Companies Act — appointe...
NatFoods seeks nod for share buyback 6 November 2018 HARARE - National Foods Holdings (NatFoods) is seeking shareholder approval to embark on a share buyback in an effort to boost its share price. The agro-processing firm, which has been one of the worst performing counters on the Zimbabwe Stock Exchange (ZSE) this year, will next month hold its...
Cassava Smartech hosts Murehwa EcoFarmer Expo 5 November 2018   MUREHWA – Cassava Smartech, the Econet group's soon-to-be-listed division, yesterday successfully hosted a first-of-its-kind EcoFarmer expo at Murewa Centre, 90km northeast of the capital Harare. The farmers' expo, themed “Taking Farming to the Next Level” was attended by over 3 500 farme...
'Import ban must not go beyond Dec 21' 5 November 2018 HARARE - Confederation of Zimbabwe Industries (CZI) has said the lift of a ban on the import of basic goods and foodstuffs must not go beyond December 21. The lift of a ban imposed on imports of many basic goods in 2016 was aimed at curbing shortages after shelves were emptied over panic buyin...