Business

Mataranyika speaks on Nyaradzo's journey, future...Says a premium increase is unavoidable in May/June, Regrets they have not been as aggressive in the region, Speaks on undertaker role during Tuku's funeral 21 April 2019 NYARADZO Group is this year celebrating its 18th anniversary. In this Question & Answer, the group's founder and chief executive officer Philip Mataranyika reflects on the 18-year-long journey and what lies ahead for the group, including his views on the premium review authorised by the Zimbab...
Realign PFM Act  with Constitution 21 April 2019 STAKEHOLDERS are calling for urgent reforms to the Public Finance Management (PFM) Act and ensuring that existing legislation is aligned to the national charter.
Harare to probe management of markets 20 April 2019 HARARE City Council (HCC) has reportedly established an investigation team into activities surrounding the management of markets.
Workers up against Chinese company 19 April 2019 A CHINESE government-controlled company Sino Hydro that is carrying out the expansion of the Hwange Thermal Power Station stands accused of underpaying workers as well as failing to observe basic safety and health regulations.
First Capital Bank profit up 23 percent 19 April 2019 FIRST Capital Bank Limited registered 23 percent growth with a net profit of $24,3 million in the year ended December 2018 compared to the $19,8 million achieved in 2017.
Byo Rainbow Hotel completes facelift 19 April 2019 BULAWAYO Rainbow Hotel (BRH) which operates under the Rainbow Tourism Group (RTG) has finally opened its doors to the public after two-and-a-half months of renovations which cost $2,5 million.
FMH records $18m profit 17 April 2019 FIRST Mutual Holdings (FMH) yesterday said its profit for the year ended December 31, 2018 was up 49 percent on the previous period to $18,16 million after a 31 percent increase in its total income. The Zimbabwe Stock Exchange-listed financial services group reported earnings of $209 million for...
Halfway House opens doors 17 April 2019 HALFWAY House, which is located in Headlands along the Harare-Mutare highway, has resumed operations after undergoing an extensive facelift. Denys Chapman, a new manager at the restaurant, said plans are underway to restore Halfway House to its former glory. “We have already completed painting ...
First Capital Bank unbundling under review 16 April 2019 FIRST Capital Bank (FCB) said the proposed unbundling of non-core assets for listing on the Zimbabwe Stock Exchange (ZSE) is still under review. In January this year, FCB said it had suspended plans to restructure its balance sheet, but yesterday indicated that the decision to suspend the proces...
FBC records $44,4m profit 16 April 2019 ZIMBABWE Stock Exchange (ZSE)-listed financial services group FBC Holdings (FBC) on Tuesday said its profit after tax for the year ended December 2018 grew by 91 percent from the previous period after a 39 percent growth in income. The group reported a profit after tax of $44,4 million progressi...
Nampak's plan to dispose glass business stalls 15 April 2019 NAMPAK says negotiations for the disposal of its glass business are taking longer than anticipated due to the complexities of the deal.
UK firm readies for Zim diamond mining 15 April 2019 UNITED Kingdom-based Vast Resources Plc (Vast) says it has raised £300 000 (US$393 130) through a placement and subscription of shares as it prepares for the signing of a joint venture contract at Chiadzwa.
Masimba profits up 68pc 15 April 2019 MASIMBA Holdings (Masimba) says its profits went up 68 percent to $1,177 million during the year ended December 31, 2018 compared to $698 738 recorded in previous comparable period driven by retail and commercial buildings.
Mauritian investors target Zimbabwe 15 April 2019 A HIGH level trade delegation from Mauritius is expected in Zimbabwe to explore mutually beneficial business opportunities with local companies
Demba to chair Africa Forum 15 April 2019 CHARTERED Institute of Logistics and Transport Africa Forum has elected Newton Demba as the new International vice president for Africa and chair for the Africa Forum.
Funeral industry gets training institute 14 April 2019 THE Institute of Funeral Business Management (IFBM) — a training and research institute focussing on skills and information development for the funeral industry — has been launched.
Government spending spirals out of control 14 April 2019 ZIMBABWE’s budget deficit has swelled after government spending spiralled in the first two months of the year, a Treasury document showed. [GoogleAd] According to consolidated financial statements released by Treasury, government exceeded its targeted expenditure by $280,3 million in Januar...
Zim mess-up maroons Nyanga's tourist 'paradise' 14 April 2019 PERCHED on one of the most scenic areas of the Eastern Highlands with rivers meandering through rolling green hills and spectacular waterfalls, the Nyanga National Park is rated one of Zimbabwe's top attractions, but you would not know it from the meagre number of visitors. [GoogleAd] On a ...
Zim economy stabilising: Ncube 13 April 2019 FINANCE minister Mthuli Ncube says Zimbabwe's economy is stabilising following the introduction of economic reforms announced under his Transitional Stabilisation Programme (TSP).
Chimwaradze gets top Unilever Africa job 13 April 2019 UNILEVER, one of the world's leading consumer goods companies, has appointed Wellington Chimwaradze as vice president responsible for legal affairs for Africa.
SA's gold-production sector on its knees 12 April 2019 DATA from Statistics South Africa yesterday painted a picture of the gold-mining sector on its knees, with output in the industry recording its longest streak of contraction in a decade in February. The statistics agency said gold output plunged 20,6 percent in February following a decline of 22...
Currency chaos toppled Sudan's al-Bashir 12 April 2019 FOR autocratic leaders seeking lessons from the toppling of Sudanese President Omar al-Bashir, avoiding a currency crisis may be the key to survival. It's the same problem that did for long-standing rulers from Angola to Zimbabwe and may yet claim Venezuela's Nicolas Maduro. Al-Bashir, who the ...
ZSE enters 'self-correction' 11 April 2019 ANALYSTS say the Zimbabwe Stock Exchange (ZSE), which has seen manic bull runs over the past two years, has entered self-correction after losing 17 percent during the first quarter of 2019. Interest in stocks had surged over the past two years due to the currency risk brought about by the loss o...
SA business confidence hit all-time low 11 April 2019 BUSINESS confidence is at its lowest level this year, according to the South African Chamber of Commerce and Industry (Sacci)'s latest business confidence index. The index dropped 1,6 points to 91,8 in March, the lowest level since the start of the year.  The index was 95,1 in January and 93,4 ...
Zim seeks partners for ICT infrastructure 10 April 2019 ZIMBABWE is seeking funding for the development of information and communication technology infrastructure (ICT) to ensure universal access to the international community, the country's regulator has said. Gift Machengete, the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potra...
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