Steelmakers in trouble over debt

Steelmakers Zimbabwe (Private) Limited in Redcliff, Kwekwe is being sued over a debt owed to an oxygen cylinder supplier.This comes after the two parties signed a deal in early 2016 which later collap...

By Staff reporter | Published: 30 September 2018

INDUSTRIALS & ENERGY

Simbisa postpones LSE listing

SIMBISA Brands has postponed its planned secondary listing on the London Stock Exchange (LSE)'s Alternative Investment Market (AIM) to a later date.The country's largest fast-food restaurant operator ...

By Staff reporter | Published: 30 September 2018

MINING & RETAIL

Tharisa sets aside $3,2m for Great Dyke exploration

EUROPEAN headquartered integrated resource group, Tharisa says it will spend $3,2 million on the special grant areas along the Great Dyke for the initial exploration programme.The exploration will be ...

By Staff reporter | Published: 30 September 2018

MINING & RETAIL

Mine Entra attracts more exhibitors

THIS year's 23rd edition of the Zimbabwe premier mining, engineering and transport, Mine Entra exhibition has attracted more exhibitors compared to the previous showcase, an indication of renewed conf...

By Staff reporter | Published: 30 September 2018

MINING & RETAIL

RioZim H1 gold output rises

Resources group, RioZim Limited's half year gold production rose 20 percent to 1 050 kilograms from 873 kilograms in the same period last year as production at its three mines was ahead of comparable ...

By Staff reporter | Published: 30 September 2018

TRANSPORT & TOURISM

Fastjet set to fly 500,000 passengers

LOW-cost airline Fastjet says it is on course to fly almost 500 000 passengers on its Zimbabwean routes this year.Hein Kaiser, the group's spokesperson, said the regional airline carries around 40 000...

By Staff reporter | Published: 27 September 2018

INDUSTRIALS & ENERGY

Archer Clothing reports drop in orders

BULAWAYO textile giant, Archer Clothing Manufacturers, says it is struggling to process orders owing to a shortage of foreign currency for importation of inputs, machinery and equipment.The company es...

By Staff reporter | Published: 27 September 2018

MINING & RETAIL

30 000 artisanal miners register to regularise operations

ONLY 30 000 of the estimated 1,5 million artisanal and small-scale miners have regularised their operations owing to high levies charged by government, Zimbabwe Miners Federation president Henrietta R...

By Staff reporter | Published: 27 September 2018

INDUSTRIALS & ENERGY

Simbisa's profits surge 139% in FY2018

SIMBISA Brands Limited (Simbisa), a public-listed company that owns, operates, and franchises quick service restaurants in Africa, has reported a more than double growth in net income in the full-year...

By Staff reporter | Published: 27 September 2018

INDUSTRIALS & ENERGY

AfDB begins to secure $4bn for Batoka development

THE African Development Bank (AfDB) has begun implementation of a resource mobilisation plan to secure an estimated $4 billion for the development of the 2 400 megawatts Batoka Gorge Hydro Electricity...

By Staff reporter | Published: 27 September 2018

INDUSTRIALS & ENERGY

Proplastics basks in good business

PLASTIC pipes and fittings manufacturer, Proplastics Limited, recorded a strong performance in the first six months of 2018 with a 70 percent jump in revenue from $6,3 million to $10,8 million when co...

By Staff reporter | Published: 27 September 2018

TRANSPORT & TOURISM

International airlines raise red flag over funds

INTERNATIONAL airlines operating in Zimbabwe are reportedly contemplating cancelling their routes after failing to recover a cumulative more than $130 million repatriation funds they are owed by the c...

By Staff reporter | Published: 27 September 2018

MINING & RETAIL

RioZim loses court case

Diversified mining group, RioZim Ltd's latest attempt to have the loan it obtained from Trust Bank reduced to $500 000 from $1,8 million suffered another setback after the High Court of Zimbabwe dismi...

By Staff reporter | Published: 27 September 2018

BUSINESS NEWS

Prices zoom out of control

The price of cooking oil has shot up by more than 20 percent, adding to the cost-push inflationary pressures triggered by the recent wave of price adjustments. A survey showed that the standard price ...

By Staff reporter | Published: 27 September 2018

MINING & RETAIL

Chrome producers engage MMCZ over pricing

SMALL-SCALE chrome miners have engaged the Mineral Marketing Corporation of Zimbabwe (MMCZ) to adopt a market-based pricing system to cut out losses and nurse the sector back to viability.Small-scale ...

By Staff reporter | Published: 21 September 2018

MINING & RETAIL

Govt to improve diamond sector governance

MINES minister Winston Chitando says the national diamond policy, which is expected to improve the governance of the sector, is now "imminent".The policy will be launched by President Emmerson Mnangag...

By Staff reporter | Published: 21 September 2018

FINANCIAL SERVICES

NicozDimond, Tristar merger commences

The directors of Tristar Insurance Company Limited (Tristar), a short-term insurance unit of First Mutual Holdings Limited (FML), have passed a resolution to seek the approval of the Minister of Finan...

By Staff reporter | Published: 21 September 2018

MINING & RETAIL

Boom in Mine Entra bookings reflects growing business confidence

This year's edition of the Mining, Engineering and Transport (Mine Entra) expo is already 93% booked, a sign of growing business confidence in the sector and strong international interest in doing bus...

By Staff reporter | Published: 21 September 2018

TELECOMS & TECHNOLOGY

AMH gets content distribution licence

The Broadcasting Authority of Zimbabwe (BAZ) has granted Alpha Media Holdings (AMH) subsidiary company, Heart & Soul Broadcasting Services (Private) Limited a third broadcasting licence.Heart &...

By Staff reporter | Published: 21 September 2018

TELECOMS & TECHNOLOGY

NetOne swings to profitability

State-owned mobile network operator NetOne swung to profitability in the eight months to August 31, 2018, as profit rose 105 percent to $1,3 million from a loss of $26 million in the prior comparable ...

By Staff reporter | Published: 21 September 2018

CONSTRUCTION & PROPERTY

Masimba foretells infrastructure boom, strong earnings

Masimba Holdings, a Zimbabwe Stock Exchange-listed contracting company, expects Zimbabwe's infrastructure sector to recover strongly in the outlook and drive its contracting business.CEO Canada Malung...

By Staff reporter | Published: 17 September 2018

TRANSPORT & TOURISM

NSSA finds investor for Beitbridge hotel

THE National Social Security Authority (NSSA) is finalising an agreement with a leading hotel company that will see its closed Beitbridge hotel facility being re-opened. The proposed venture is likely...

By Staff reporter | Published: 17 September 2018

CONSTRUCTION & PROPERTY

ZB avails 708 Plumtree housing stands

ZB BANK has availed 708 housing stands in Plumtree Town, which have since been opened up for sale to prospective home seekers in a partnership with the local authority. Speaking in Bulawayo during a b...

By Staff reporter | Published: 17 September 2018

INDUSTRIALS & ENERGY

Datlabs invests $1 million

PHARMACEUTICAL and personal care products maker, Datlabs Limited, has invested $1 million in capital expenditure meant to bolster production capacity and meet market supply requirements. The Bulawayo-...

By Staff reporter | Published: 17 September 2018

MINING & RETAIL

Govt ups efforts to boost gold output

THE Government will soon establish gold centres throughout the country as efforts to increase gold output to 100 tonnes per annum by 2023 gather momentum. This comes in the wake of reports that the co...

By Staff reporter | Published: 17 September 2018
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