FINANCIAL SERVICES

Hackers wipe clean $26,000 from Cabs account

A MAKOKOBA resident was on Monday defrauded of $26 612,97 by suspected cyber criminals after they allegedly hacked his bank account by sending text messages instructing him to punch a code which gave ...

By Staff reporter | Published: 10 October 2019

FINANCIAL SERVICES

Fifth TBs batch on the market

THE Reserve Bank of Zimbabwe (RBZ) yesterday returned to the market with a fifth batch of treasury bills (TBs), seeking to raise ZWL$150 million to finance Government programmes. Last week, RBZ was on...

By Staff reporter | Published: 10 October 2019

MINING & RETAIL

Zimbabwe drafting new coal tariffs

GOVERNMENT has paid tribute to Makomo Resources for keeping the nation's lights on by continuously supplying coal to the Zimbabwe Power Company at a time the country's economy and coal mining sector a...

By Staff reporter | Published: 10 October 2019

BUSINESS NEWS

Zimbabwe gears for hyperinflation reporting

ZIMBABWE is on the verge of adopting a hyperinflation financial reporting model at a time inflation figures have spiked as its fragile economy teeters on the brink of collapse.The reporting modality, ...

By Staff reporter | Published: 10 October 2019

INDUSTRIALS & ENERGY

Why Zimbabwe quadrupled its electricity prices

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulato...

By Reuters | Published: 10 October 2019

INDUSTRIALS & ENERGY

Chiyangwa's company to manufacture and refurbish wagons?

THE Diaspora Infrastructure Development Group (DIDG) has started manufacturing 6 000 rail sleepers for Beitbridge Bulawayo Railway while plans are underway to produce 60 000 more for the National Rail...

By Staff reporter | Published: 10 October 2019

MINING & RETAIL

Arcadia leads Zimbabwe's mega mine projects

Prospect Resources has registered significant progress on its Zimbabwe-based electric vehicle batteries lithium project just outside Harare, which it says will become the first major mining project to...

By Staff reporter | Published: 10 October 2019

INDUSTRIALS & ENERGY

Chiyangwa's ZECO Holdings after-tax loss widens by 52%

Bulawayo-based engineering firm Zeco Holdings Limited remains in the red after its loss-after-tax widened by 52% to $886 605 in the six months to June 30, 2019, despite undertaking cost-containment me...

By Staff reporter | Published: 10 October 2019

BUSINESS NEWS

No access to internet for 67 ZimPost offices

Sixty-seven post offices in Zimbabwe do not have internet access, the Abridged sector report for the second quarter has revealed.Potraz has been working on bridging the digital divide between the rura...

By Staff reporter | Published: 10 October 2019

BUSINESS NEWS

NetOne subscriber base up 6,1%

STATE-OWNED mobile network provider NetOne increased its subscriber base by 6,1 percent in the second quarter to June 2019, latest industry figures show. According to the Postal and Telecommunications...

By Staff reporter | Published: 07 October 2019

TELECOMS & TECHNOLOGY

Mobile money transactions surge 108%

POSTAL and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says mobile operators experienced an increase in volume and value of mobile money transactions with cash-in transactions surging...

By Staff reporter | Published: 07 October 2019

FINANCIAL SERVICES

Agribank workers seek US$-indexed salaries

AGRIBANK employees are demanding interbank rated salaries as they decry current earnings which have been eroded by ravaging inflation.Agitated workers at the banking institution have rejected a recent...

By Staff reporter | Published: 07 October 2019

INDUSTRIALS & ENERGY

Padenga in bid to improve crocodile skins quality

STOCK exchange-listed, Padenga Holdings Limited says it has invested in a research laboratory with aims to improve the crocodile skins quality as the company seeks to maintain and grow its hold on the...

By Staff reporter | Published: 07 October 2019

TELECOMS & TECHNOLOGY

Telecoms sector posts revenue growth

Zimbabwe's telecommunications sector registered growth in revenues for the quarter ending June 30, 2019, mainly on the back of upward tariff reviews as economic headwinds persisted. The sector, like a...

By Staff reporter | Published: 07 October 2019

TRANSPORT & TOURISM

Air Zimbabwe acquires new Boeing 777 planes

STRUGGLING national airline, Air Zimbabwe, will take delivery of two new Boeing 777 planes before the end of the year, Transport minister Biggie Matiza has said.Speaking to journalists in Harare yeste...

By Staff reporter | Published: 06 October 2019

TELECOMS & TECHNOLOGY

Zimbabweans dump internet bundles

INTERNET data bundles and voice call purchases have experienced a sharp decline as cash-strapped Zimbabweans now opt for the cheaper short message service (SMS), Postal and Telecommunications Regulato...

By Staff reporter | Published: 06 October 2019

INDUSTRIALS & ENERGY

Cottco completes ZAMCO loan repayment

The Cotton Company of Zimbabwe (Cottco) has completed repayment of a $54 million loan granted by ZAMCO in 2014, marking a milestone in the revival of the company, backed by government support granted ...

By Staff reporter | Published: 06 October 2019

TELECOMS & TECHNOLOGY

NetOne's back-to-basics strategy pays off

NETONE CEO Lazarus Muchenje believes the state-owned mobile phone operator is on the road to recovery because of a back-to-basics strategy.Muchenje (LM) told Alpha Media Holdings chairman Trevor Ncube...

By Staff reporter | Published: 06 October 2019

MINING & RETAIL

ZCDC targets 6,12m carats production in 2020

The state-controlled Zimbabwe Consolidated Diamond Company (ZCDC) says it expects to double its diamond production to 6,12 million carats next year up from the 3,1 million carats projected for 2019.At...

By Staff reporter | Published: 06 October 2019

MINING & RETAIL

Zimplats records slump in production

Zimbabwe's largest platinum producer Zimplats recorded a 36,1% slump in production volumes to 415,72kg in August as rising inflation, coupled with power cuts and foreign currency shortages, took a tol...

By Staff reporter | Published: 06 October 2019

INDUSTRIALS & ENERGY

Foreign currency shortages derail Paramount Garments

LEADING textile firm, Paramount Garments' exports have dropped by 14 percent while prospects of growing its Bulawayo clothing manufacturing unit, Archer Clothing Manufacturers are in limbo due to adve...

By Staff reporter | Published: 06 October 2019

LANDS & AGRICULTURE

Consortium provides feed and water for Matabeleland South cattle

A group of non-governmental organisations have initiated a programme called Sizimele in Matabeleland South aimed at providing survival stock feed and drilling boreholes pumped by solar to save livesto...

By Staff reporter | Published: 06 October 2019

MINING & RETAIL

Zimbabwe starts repossessing idle mines

THE Government has started implementing the "use it or lose it" policy, which will see thousands of individuals or companies having their mining rights taken away for holding onto them for speculative...

By Staff reporter | Published: 06 October 2019

LANDS & AGRICULTURE

Agric preps begin

Government will start moving agricultural inputs for Command Agriculture to several parts of the country this week as it pushes farmers to plant early to maximise on imminent rains.Logistical arrangem...

By Staff reporter | Published: 06 October 2019

INDUSTRIALS & ENERGY

Zesa to review power tariffs monthly

Zimbabwe Electricity Supply Authority (ZESA) holdings acting group chief executive officer, Engineer Patrick Chivaura says electricity tariffs will be now reviewed monthly at inter-bank market rates a...

By Staff reporter | Published: 05 October 2019
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