Articles tagged 'rtg'

RTG rights issue partially subscribed 27 February 2018 HARARE - The Rainbow Tourism Group's $22,5 million rights issue has been partially subscribed amid indications that the National Social Security Authority (Nssa) will increase its shareholding in the listed hotel group. Nssa currently holds over 60 percent shareholding in RTG. RTG company sec...
Boost for Heath Streak Academy 17 February 2017 HARARE - Zimbabwe's leading hospitality concern, Rainbow Tourism Group (RTG), has partnered with the Old Mutual Heath Streak Academy Trust as part of strategies to develop cricket in the country. RTG chief executive Tendai Madziwanyika said the new partnership will see the hospitality group ma...
Anti-Mphoko protester sues State 9 January 2017 MUTARE - An activist — Lynette Mudehwe — who was arrested during a protest against Vice President Phelekezela Mphoko's lengthy stay in a luxury hotel is suing the State for $17 000. Mudehwe and several other protesters demanded that Mphoko vacates the upmarket hotel where he had been holed up ...
RTG in $2m hotels renovation 22 September 2016 HARARE - Zimbabwe Stock Exchange-listed Rainbow Tourism Group (RTG) said it is close to completing its $2 million refurbishment and refashioning of three major hotels. The hospitality group's corporate communications manager, Pride Khumbula, said the renovation exercise, which was started earl...
I did not threaten to burn hotel: Zvorwadza 14 September 2016 HARARE - National Vendors Union leader Sten Zvorwadza yesterday refuted claims that he threatened to burn Rainbow Towers during a demonstration against Vice President Phelekezela Mphoko's prolonged hotel stay. Zvorwadza denied charges of threats to commit malicious damage to property when he a...
RTG revenue up 16 June 2016 HARARE - Listed hotelier Rainbow Tourism Group (RTG) has grown its revenues by $1 million in the four months to April 2016 due to strong performance. RTG chief executive Tendai Madziwanyika yesterday told shareholders at the company's annual general meeting (AGM) in the capital that the hospit...
Beitbridge hotel weighs RTG down 27 September 2014 HARARE - Listed hotelier Rainbow Tourism Group (RTG) recorded a slump in earnings before interest tax and depreciation and amortisation (Ebitda) for the half year to June, due to slow operations at its newly-opened Rainbow Beitbridge Hotel. Tendai Madziwanyika, RTG group chief executive told a...
RTG mum on retrenchment plan 13 June 2014 HARARE - Listed hotelier Rainbow Tourism Group (RTG) has refused to disclose details of its planned retrenchment exercise saying they are yet to finalise the process. The group, which has embarked on a voluntary retrenchment programme as part of efforts to streamline operations and contain cos...
RTG supervisor in $7 000 tender fraud 21 January 2014 HARARE - A Rainbow Tourism Group (RTG) projects supervisor  inflated quotations from a service provider and defrauded his employer of more than $7 000. Makiel Pikire was facing fraud charges when he appeared before Harare Magistrate Ndaba Tsatsawana. Prosecutor Desire Chidanire alleged that...
NSSA to handover Beitbridge hotel 28 October 2013 HARARE - National Social Security Authority (Nssa) says it will soon be handing over the completed Beitbridge Hotel to Rainbow Tourism Group (RTG). Phillion Chereni, Nssa's public relations manager, said the project is currently at the stage of “substantial completion” which means that all maj...
RTG suspends retrenchment exercise 23 August 2013 HARARE - Rainbow Tourism Group (RTG) has suspended its retrenchment exercise after coming out of the woods, posting a $105 000 profit after tax in the half year to June 2013 from a $3,2 million loss incurred in prior comparable period. The listed hotelier last year lay off 20 percent of its 1 ...
Kanyekanye faces chop 15 July 2013 HARARE - Capital Bank (Capital) controlling shareholder, the National Social Security Authority (NSSA), is working with the financial institution's board to remove Joseph Kanyekanye from the company's board altogether. The controversial businessman recently resigned from NSSA-owned Rainbow Tou...
Kanyekanye leaves Capital Bank, RTG 10 July 2013 HARARE - Business executive Joseph Kanyekanye has stepped down as board chairperson of Rainbow Tourism Group (RTG) and Capital Bank Corporation Limited (Capital Bank). The move, he said, is meant to pave way for the appointment of independent chairpersons for the two institutions both majority-ow...
RTG's $4,5m rights issue approved 28 December 2012 HARARE - Hospitality concern Rainbow Tourism Group (RTG) shareholders yesterday approved a $4,5 million rights issue. The capital-raising exercise is part of the group s efforts to put a cap on burdening shortterm borrowing charges that have been aggravating working capital constraints. Tendai Ma...
RTG on retrenchment exercise 2 September 2012 HARARE - Embattled hospitality concern Rainbow Tourism Group (RTG) is set to embark on an $800 000 retrenchment exercise aimed at reducing operation costs. The Zimbabwe Stock Exchange-listed concern has for the past few years failed to turn the corner and is desperately seeking ways to return to ...