BUSINESS NEWS

Dutch firm blocked from purchasing Astra Industries parent company

A REGIONAL regulatory body has blocked Dutch paint and coatings firm, AkzoNobel N, from acquiring a stake in the Mauritian and South African subsidiaries of Japanese chemical firm, Kansai Paint Co Ltd...

By Staff reporter | Published: 12 September 2023

BUSINESS NEWS

NRZ targets US$1m from property leases

National Railways of Zimbabwe (NRZ) is targeting to generate at least US$1 million annually from leasing out some of its properties across the country as part of an initiative to widen its revenue bas...

By Staff reporter | Published: 12 September 2023

BUSINESS NEWS

Varun Beverages in expansion drive

Varun Beverages Zimbabwe is planning for further capacity expansion, which should see the beverages maker put more production lines in the country, as it seeks to meet growing demand for affordable be...

By Staff reporter | Published: 12 September 2023

BUSINESS NEWS

IDBZ resolute in supporting NDS1

The Infrastructure Development Bank of Zimbabwe (IDBZ) says projects with an estimated value of US$68,8 million were committed to the bank's project pipeline during the half year to June 2013 as the G...

By Staff reporter | Published: 12 September 2023

BUSINESS NEWS

Concern over Masvingo black market

The Zimbabwe National Chamber of Commerce (ZNCC) has castigated the emergence of a black market for some basic commodities in the city of Masvingo saying it's adversely affecting operations of superma...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Zimbabwe has sufficient water for winter irrigation

The Zimbabwe National Water Authority (ZINWA) has said the country's dams have sufficient water to meet the winter cropping irrigation needs.ZINWA spokesperson, Marjorie Munyonga told Business Times t...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Mixed feelings over produce market

Informal traders in the City of Mutare have raised mixed feelings over the establishment of a produce market in the sprawling suburb of Dangamvura.The Mutare City Council in partnership with Care and ...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Concern over theft, vandalism of bins in Bulawayo

The Bulawayo City Council (BCC) has expressed concern over the sharp increase in the theft and vandalism of its bins.Speaking during a stakeholder meeting in Bulawayo, Ward 12 councillor, Lilian Mlilo...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Outcry over RDC levy

Cattle farmers have raised concern over the exorbitant levy charged by the Rural District Councils (RDC) when selling live cattle to a commercial buyer which has affected their operations.Currently, f...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Call to improve Harare's bad liveability ranking

The city of Harare should work to improve its bad ranking in the liveable index to attain world class city status, Harare Residence Trust director Precious Shumba has said.Harare City Council has been...

By Staff reporter | Published: 02 June 2022

BUSINESS NEWS

Zimdollar strengthens against the real US dollar

The local currency appreciated for the first time against the US dollar after it firmed a marginal 0.094% to 83.3209 from 83.3994. This followed a drop in both the highest and lowest bids to 87.5 and ...

By Staff reporter | Published: 01 September 2020

BUSINESS NEWS

Concerns that informal market may mop up US$ as parallel rates creep up

Industry is yet to gather data on how much sales are being generated in foreign currency although there is an increase in the use of domestic nostro accounts to settle transactions as RTGS liquidity b...

By Staff reporter | Published: 01 September 2020

BUSINESS NEWS

Mnangagwa okays US dollar use

PRESIDENT Emmerson Mnangagwa has gazetted Statutory Instrument 85/20, which will allow citizens and businesses to charge goods and services using the United States (US) dollar as part of combating the...

By Staff reporter | Published: 31 March 2020

BUSINESS NEWS

RBZ suspends 30-day forex liquidation requirement

The Reserve Bank of Zimbabwe has suspended the 30-day liquidation requirement on un-utilized foreign currency balances for exporters to support its use of free-funds policy. Last week the RBZ announce...

By Staff reporter | Published: 31 March 2020

BUSINESS NEWS

Tax breaks for renewable energy investors as govt launches new policy

Government has dangled a carrot to potential investors in the renewable energy sector by giving tax breaks as well as awarding national project status for such ventures.This is contained in the new en...

By Staff reporter | Published: 19 March 2020

BUSINESS NEWS

US$24m for fuel

The Reserve Bank of Zimbabwe (RBZ) has released US$23,89 million for the purchase of fuel to be sold in local currency for the week March 16 to 22. RBZ governor Dr John Mangudya made the announcement ...

By Staff reporter | Published: 18 March 2020

BUSINESS NEWS

COVID-19: Zimbabwe places restrictions on visitors from high risk countries

President Mnangagwa has said that travellers from ‘high risk countries' will be quarantined for 14 days before they can mingle with Zimbabweans as Zimbabwe upped efforts to stop the spread of COVID-...

By Staff reporter | Published: 18 March 2020

BUSINESS NEWS

All deposit classes now indexed to treasury bill yields, say Mthuli Ncube

Government has gazetted a statutory instrument which directs that all classes of deposits in the banking system, should be indexed to treasury bill yields as part of efforts to promote fair compensati...

By Staff reporter | Published: 13 March 2020

BUSINESS NEWS

Zimbabwe introduces Reuters system for forex trading

GOVERNMENT has introduced a Reuters system for foreign currency trading which allows banks to trade freely as a way of stabilising the exchange rate as well as bringing down inflation to sustainable l...

By Staff reporter | Published: 11 March 2020

BUSINESS NEWS

UK cranks heat on Mnangagwa

BRITAIN is turning up the heat on President Emmerson Mnangagwa and his government to urgently implement much-needed political and economic reforms, as well as end corruption and human rights abuses in...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

Decriminalise gold possession: Miners

ZIMBABWE Miners Federation president Henrietta Rushwaya has called on government to re-align mining laws to decriminalise the possession of gold to increase production by artisanal miners.Speaking at ...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

'US ban hurts Marange diamonds'

The Zimbabwe Consolidated Diamond Company (ZCDC) yesterday said the decision by the United States to issue a withhold release order (WRO) for artisanal rough cut diamonds from Marange was impacting ne...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

Riot police block civil servants demo

CIVIL servants have threatened to completely down tools and escalate their fight for better wages after police yesterday blocked their march to hand over petitions to Finance and Labour ministers.The ...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

AMG boss proposes gold-backed Zimbabwe currency to RBZ

A leading South Africa precious metals dealer African Medallion Group (AMG) has proposed to the Reserve Bank of Zimbabwe (RBZ) the launch of a digital currency backed by physical gold, with an aim to ...

By Staff reporter | Published: 07 November 2019

BUSINESS NEWS

Matsekete replaces Mushosho as Old Mutual CEO

Old Mutual has announced First Capital Bank MD Sam Matsekete as CEO-Designate. This follows Matsekete's resignation from the banking group effective January 1, 2020.He will take over from Jonas Mushos...

By Staff reporter | Published: 07 November 2019
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