TRANSPORT & TOURISM

NRZ says happy with DIDG deal

THE National Railways of Zimbabwe (NRZ) has expressed satisfaction with progress made towards concluding the US$400 million recapitalisation deal with the Diaspora Infrastructure Development Group (DI...

By Staff reporter | Published: 1 hour ago

MINING & RETAIL

New CEO for PPC

Zimbabwe Stock Exchange listed cement producer, PPC, has appointed Roland van Wijnen, a former Lafarge Holcim executive as its new CEO. Van Wijnen, originally from Netherlands will be replacing Johan ...

By Staff reporter | Published: 1 hour ago

MINING & RETAIL

Gold weighs on June exports

ZIMBABWE's exports fell 32 percent in June this year weighed down by reduced shipments of major mineral exports, latest statistics from the Reserve Bank of Zimbabwe (RBZ) show. The drop in exports cam...

By Staff reporter | Published: 1 hour ago

MINING & RETAIL

Premier seeks EPO for Zulu lithium project

PREMIER African Minerals will soon meet the Mining Affairs Board over the company's application for an Exclusive Prospecting Order (EPO) at its Zulu Lithium and Tantalite project in Matabeleland South...

By Staff reporter | Published: 1 hour ago

INDUSTRIALS & ENERGY

Sable Chemicals to invest in coal bed methane

Fertiliser manufacturer Sable Chemicals has started feasibility studies to mine coal bed methane gas in Lupane as it seeks to cut on its import bill, an official has said.The company, which is the sol...

By Staff reporter | Published: 1 hour ago

MINING & RETAIL

Zimbabwe to be first African country to put lithium in lead batteries

Zimbabwe will in coming weeks sign agreements on the development and value addition of lithium lead batteries as the country seeks to transform the mining sector into a $12 billion industry in the nex...

By Staff reporter | Published: 14 hours ago

BUSINESS NEWS

SECZIM develops handbook on Anti-Money Laundering

In a bid to assist Securities Market Intermediaries (SMIs) in understanding their obligations in the fight against money laundering and terrorist financing in the securities sector, the Security and E...

By Staff reporter | Published: 15 hours ago

MINING & RETAIL

Coal production down 43% in year to July

The mining sector had another mixed month in July with changes in output varying across the board while total earnings from mining commodities fell by 13% to US$205 million. Positively, gold, the coun...

By Staff reporter | Published: 15 hours ago

BUSINESS NEWS

Average Zimbabwean lived on ZWL$10.78/day in July

Latest data from Zimstat shows that the average Zimbabwean lived on $10.78 per day while the average family needed $1,617 for enough subsistence to not be deemed poor. This means that Zimbabweans are ...

By Staff reporter | Published: 15 hours ago

BUSINESS NEWS

Month-on-month inflation slows to 18.07% in August

Month on month inflation continued to trend downwards in August, with the figure falling to 18.07% from 21.04% in July. Following the decision to suspend the release of annual inflation statistics, th...

By Staff reporter | Published: 15 hours ago

FINANCIAL SERVICES

RBZ turns to domestic resource mobilisation in the absence of international bailout

In the absence of an international bailout package, the Reserve Bank of Zimbabwe has presented a monetary policy statement strongly focused on domestic resource mobilisation aimed at reviving the prod...

By Staff reporter | Published: 15 hours ago

FINANCIAL SERVICES

OMZL bets on real assets under the hyperinflationary environment

Insurance giant Old Mutual Zimbabwe released its financial results for the half year ended 30 June 2019. The headline figure was the 671% growth in profit before tax to $509.2 million while operating ...

By Staff reporter | Published: 15 hours ago

FINANCIAL SERVICES

Zamco begins process to dispose of Star Africa stake

The Zimbabwe Asset Management Company (ZAMCO) is now looking at disposing its 57.4% stake in Star Africa.The sugar manufacturer, is among some of the companies that were on the verge of collapse becau...

By Staff reporter | Published: 15 hours ago

INDUSTRIALS & ENERGY

Mutoko Independent Power Producer pumps 2.5 megawatts into national grid

MUTOKO community is experiencing less hours of load shedding after a local Independent Power Producer, Nyangani Renewable Energy (NRE) started pumping its solar power into the national grid.NRE is the...

By Staff reporter | Published: 22 August 2019

Old Mutual to manage capital from Zimbabwe business on ring fence basis

Old Mutual Limited (OML) says capital raised through repatriation of dividends from its Zimbabwe business will be managed on a ring-fenced basis. This came at a time when the local economy is bleeding...

By Staff reporter | Published: 22 August 2019

LANDS & AGRICULTURE

Zimbabwe has potential to irrigate 2 million hectares: Shiri

Zimbabwe's land under irrigation has increased by 61.76% to the current 275 000 hectares from 170 000 hectares, with the country intensifying efforts to reduce reliance on rain-fed agriculture so as t...

By Staff reporter | Published: 22 August 2019

MINING & RETAIL

Falgold ceases gold production

Troubled mining group Falgold Zimbabwe published its delayed financial statements for the year ended 31 September 2018. During this period the group's net loss after tax widened by 609% to US$4.9 mill...

By Staff reporter | Published: 14 August 2019

TELECOMS & TECHNOLOGY

Telecoms firms in revenue decline

ZIMBABWE's telecoms sector has suffered a $37,1 million decline in revenue for the first time ever in the past four years.The latest Postal and Telecommunications Regulatory Authority of Zimbabwe (Pot...

By Staff reporter | Published: 16 July 2019

MINING & RETAIL

Zimbabwe scraps 15% tax on raw platinum exports

Zimbabwe's platinum mining companies have come up with a roadmap for refinery plants that have seen the government considering the removal of a 15 percent tax on raw exports for the commodity.While co...

By Staff reporter | Published: 16 July 2019

TELECOMS & TECHNOLOGY

Govt to cede TelOne, NetOne majority shares by year-end

GOVERNMENT is moving to complete the sale of its majority shareholding in fixed telecommunications company TelOne and mobile operator NetOne by year-end, businessdigest has learnt.There has been an in...

By Staff reporter | Published: 12 July 2019

MINING & RETAIL

Zimbabwe poised for gold boom

Zimbabwe is poised for a boom in gold production after Government announced that it will henceforth enforce a clause of the Mines and Minerals Act that gives the state the powers to forfeit mining tit...

By Staff reporter | Published: 12 July 2019

TRANSPORT & TOURISM

Zimbabwe goes overdrive to lure diasporans

Tourism minister Priscah Mupfumira is in the United Kingdom for Zimbabwe's roadshow aimed at increasing engagement with citizens domiciled in Europe to encourage them to come and invest back in the co...

By Staff reporter | Published: 12 July 2019

TRANSPORT & TOURISM

Power cut claims at JM Nkomo airport dismissed

The Civil Aviation Authority of Zimbabwe (Caaz) has dismissed claims that a fastjet aircraft failed to land at Joshua Mqabuko Nyongolo Nkomo International Airport in Bulawayo on Wednesday evening due ...

By Staff reporter | Published: 12 July 2019

TELECOMS & TECHNOLOGY

Zimbabwe mobile subscribers decline

ZIMBABWE's active  mobile subscribers declined by six percent during the first quarter of 2019 due to lower aggregate demand in the economy, latest industry report has shown. According to the Pos...

By Staff reporter | Published: 11 July 2019

INDUSTRIALS & ENERGY

Power blackouts shatter Bulawayo firms

POWER outages are wrecking Bulawayo's businesses, amid fears that the debilitating electricity cuts may force the closure of some firms, captains of commerce and industry have warned.This comes as Zim...

By Staff reporter | Published: 11 July 2019
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