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RBZ moves to punish rogue bankers

RBZ Governor John Mangudya says amendments to the Banking Act are specifically designed to forestall future bank failures as monetary authorities move to restore confidence in the financial servi...Read more

RBZ moves to punish rogue bankers

03 August 2015 | 908 Views
RBZ Governor John Mangudya says amendments to the Banking Act are specifically designed to forestall future bank failures as monetary authorities move to restore confidence in the financial servi...

by Staff reporter

FlyAfrica dishes out $1 flights

02 August 2015 | 3589 Views
IF flying is your dream but you have been failing to fulfil it because of financial problems, then maybe you have just missed a lifetime opportunity to be in the skies. Budget airline Fly Africa yeste...

by Roberta Katunga

Victoria Falls firm sues RBZ, Barclays

31 July 2015 | 2825 Views
A Victoria Falls-based recreational company Shear Water Safaris has dragged the central bank and Barclays Bank of Zimbabwe Private Limited to court over half a million dollars seized by the moneta...

by Staff reporter

Econet boss quits

31 July 2015 | 8061 Views
Econet Wireless Zimbabwe today announced the resignation of Stanley Henning from his position as Chief Commercial and Customer Service Officer. Stanley left his position on July 30 to pursue p...

by Ndou Paul

Estate Agents barred from trading - list

31 July 2015 | 3282 Views
THE Estate Agents Council of (EAC) Zimbabwe has ordered more than 10 Real Estate companies and individuals to stop trading.In a public notice in the local newspapers, the Estate Agents Council...

by Ndou Paul

Zesa steps up debt recovery measures

31 July 2015 | 3826 Views
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is urging its customers who are in arrears to settle their accounts.In an advisory in today's newspapers, ZEDTC said "Cre...

by Ndou Paul

Innscor will not pay CTC penalties

31 July 2015 | 2252 Views
Innscor Africa Limited has been absolved from paying $2,5 million in penalties imposed by the Competition and Tariff Commission over the food group's merger with the agro-processor, National Food...

by Staff reporter

ZUJ baffled by journalists dismissals

31 July 2015 | 2245 Views
The Zimbabwe Union of Journalists, ZUJ, has expressed deep concerns over developments in which several journalists and media workers have lost their jobs following the unpopular 17 July Supreme Co...

by Stephen Jakes

Net Seven Real Estate ordered to stop trading

30 July 2015 | 3398 Views
THE Estate Agents Council of (EAC) Zimbabwe has ordered the Net Seven Real Estate to stop trading.In an advisory in the local newspapers, the Estate Agents Council said, "Members of the public...

by Ndou Paul

Fingaz to retrench 35% of its staff

30 July 2015 | 3431 Views
The Financial Gazette said it will be retrenching 35% of its staff across the board.The group chief executive officer of the Financial Gazette, Jacob Chisese last night said, "It is, howev...

by Ndou Paul

Zimbabwe set to have a cassava ethanol producing plant

30 July 2015 | 2246 Views
Zimbabwe is set to have a cassava ethanol producing plant to boost ethanol output as the country moves to accelerate mandatory fuel blending. Ministry of Energy and Power Development direc...

by Staff reporter

New shareholding threshold for Zimbabwe banks

30 July 2015 | 2573 Views
The Reserve Bank of Zimbabwe (RBZ) is putting a new shareholding threshold where individuals can only own up to 10% in a banking institution as part of a roadmap to attain corporate governance, RB...

by Staff reporter

Dunlop dismisses about 85 employees

29 July 2015 | 2865 Views
As the wave of dismissing the workers on three months notice since the ruling made by the Supreme Court granting employers to give notice of three months before dismissing workers hit the nation since...

by Stephen Jakes

Barclays Africa hastens talks to buy Barclays Zimbabwe

29 July 2015 | 2934 Views
Barclays Africa Group said talks to buy its parent company's operations in Egypt and Zimbabwe have been accelerated following management changes at Barclays."Our ambition is to do the acq...

by Agencies

NewsDay fires 5 journalists, 16 inserters

29 July 2015 | 2845 Views
Alpha Media Holdings, publishers of NewsDay, The Zimbabwe Independent and The Standard newspaper yesterday fired five journalists and 16 newspaper inserters using the recent Supreme Court ruling t...

by Staff reporter

Zimbabwe diamonds firm winds up operations

29 July 2015 | 3043 Views
The government has authorized Marange Resources to merge with other diamond producers in the country as it moves to form one miner for the precious mineral. There are plans to consolidate ...

by Staff reporter

Zimbabwe Stock Exchange liquidity falls 39%

29 July 2015 | 2102 Views
Liquidity on the Zimbabwe Stock Exchange has dropped continuously since March, plunging 39 percent for the six months to July 2015, with most heavyweight stocks taking major knocks. The la...

by Staff reporter

NewsDay sports editor 'fired'

28 July 2015 | 4370 Views
Alpha Media Holding has begun implementing the condemned Supreme Court ruling as News Day sports editor Wellington Toni has been shown the door.Sources at NewsDay said Toni was handed his dis...

by Thobekile Zhou

Econet, Zimbabwe govt on a collision course

25 July 2015 | 7121 Views
The Zimbabwe government is on a collision course with Econet, the country's biggest mobile network operator over compulsory telecommunications infrastructure sharing.Information, Communica...

by Staff reporter

Chiyangwa's company records a sixth consecutive loss since 2009

25 July 2015 | 5302 Views
Phillip Chiyangwa's listed engineering concern, Zeco Holdings (Zeco), has recorded a sixth consecutive loss since 2009 on the back of deteriorating economic conditions, casting doubt on the company's ...

by Staff reporter

OK Zimbabwe net sales lower than budget

24 July 2015 | 4552 Views
OK Zimbabwe  released a trading update statement advising its shareholders that the macro-economic environment continued to deteriorate as evidenced by declining consumption and continuing fallin...

by Staff reporter

Mobile money transactions surpass $2 billion

24 July 2015 | 4395 Views
The value of transactions processed through mobile platforms surpassed $2 billion during the first five months of the year, highlighting the increasing number of people turning to mobile devices t...

by Staff reporter

Telecel buyout scandal deepens

24 July 2015 | 4774 Views
It has emerged that influential people in government are using Zarnet as a cover to corruptly take over Telecel for private rather than public benefit.This comes to light after information...

by Staff reporter

Udine Products in war with workers over $90 000 union dues

24 July 2015 | 2768 Views
THE UDINE PRODUCTS company in the Belmont area in Bulawayo is embroiled in a bitter wrangle with over 100 workers for allegedly deducting workers money for union dues but not remitting it to their...

by Stephen Jakes

Firms fire 1000 workers on Thursday

24 July 2015 | 6351 Views
AT least 1 000 workers from different companies were fired on Thursday countrywide.Zimasco reportedly sacked  648 workers.According to reports, an estimated 3 000 workers have bee...

by Staff Reporter

Zimbabwe company inks $1.1bn thermal power deal with China

23 July 2015 | 4877 Views
A Zimbabwean company on Thursday signed a $1.1 billion agreement with the China State Construction Engineering Corporation (CSCEC) to build a 600-megawatt thermal power plant, a move expected to ease ...

by AFP

Zimbabwe mining companies asked to build power station

23 July 2015 | 4392 Views
Mines and Mining Development minister Walter Chidhakwa yesterday said that mining companies should come together and build a power station to leverage power shortages in the country.He sa...

by Staff reporter

Econet join bandwagon, tell employees to immediately stop reporting for duty

23 July 2015 | 7691 Views
Econet Wireless handed letters of dismissal to several workers between Monday and yesterday, informing them to immediately stop reporting for duty since their contracts have been cancelled....

by Staff reporter Webdesigners wins third award

23 July 2015 | 4946 Views
The has just won their third award, Webdesigners of the year at the recently held Zimbabwe Chamber of Small to Medium Enterprises (SME) s at the HICC in, a web ...

by Stephen Jakes

Workers up in arms against Amtec over terminal benefits

22 July 2015 | 6504 Views
Over 20 employees' of Amtec in Mutare disengaged in 2013 following the company's takeover by Sambiri Investments are at cross roads after their former employer refused to meet their agreed exit packag...

by Stephen Jakes

Zimbabwean company builds a hybrid helicopter

22 July 2015 | 6634 Views
SAITH Technology has unveiled its latest technologies including an electric car and hybrid helicopter, but said it was waiting government approval to sell the products. Speaking at the off...

by Staff reporter

Rainbow Airlines launches maiden Harare - Joburg flight

21 July 2015 | 5778 Views
A new airline is set to start operating next month, a development expected to inject confidence in the local aviation industry.Rainbow Airlines this Tuesday held a demonstration flight from th...

by Staff reporter

Mine Entra celebrates 20 yr existence

21 July 2015 | 3693 Views
Zimbabwe's regional Mining, Engineering and Transport (Mine Entra) exhibition kicks off in Bulawayo on Wednesday as the exhibition celebrates its 20th year running.As of Tuesday, 92% of the sp...

by Thobekile Zhou

Ingwebu breweries loses court appeal

21 July 2015 | 4795 Views
THE BULAWAYO labour court has dismissed an appeal by Ingwebu breweries in a case in which the brewery was challenging an arbitral award in favour of its former manager Makhosini Khumalo.Ma...

by Stephen Jakes

Court ruling triggers fierce job losses in Zimbabwe

21 July 2015 | 6096 Views
Hundreds of workers have been left jobless in the last four days after employers embraced with speed the Supreme Court judgment delivered last Friday allowing companies to terminate workers' contracts...

by Staff reporter

ZSE lures mining companies

21 July 2015 | 3537 Views
The Zimbabwe Stock Exchange (ZSE) is in discussions with mining companies so that they list on the local bourse to increase mining counters. According to the Newsday, the local bourse has fou...

by Staff reporter

Air Zimbabwe flies one passenger from SA to Vic Falls

21 July 2015 | 8465 Views
AIR Zimbabwe recorded another aviation record as it flew one passenger from Johannesburg to Victoria on a 105-seater plane.The Boeing 737 plane has 12 business and 93 economy class seats....

by Staff Reporter

Anglo American Platinum to build Zimbabwe plant to avoid tax

20 July 2015 | 4656 Views
Anglo American Platinum said it plans to build a "secondhand" smelter in Zimbabwe as the world's largest producer of the metal seeks to avoid paying a 15% tax on exports of unprocessed minerals from t...

by Bloomberg

Ziscosteel employees protest over poor working conditions, abuse

20 July 2015 | 4445 Views
Scores of disgruntled Ziscosteel workers in Redcliff took to the streets on Saturday in protest over poor living conditions, abuse of workers by top management and failure by the government to re...

by Staff reporter

Judgment allows Zim workers to be sacked willy-nilly

19 July 2015 | 6992 Views
Public Service, Labour and Social Welfare Minister Prisca Mupfumira has said there is need to settle on corrective legal options to safeguard the workers from being sacked willy-nilly and empty-hande...

by Staff Repoprter

Telecel: Govt shuts out private investors

17 July 2015 | 4777 Views
The government has effectively elbowed out private investors in its quest to acquire equity in Telecel. Despite there being a private investor who is willing to invest capital into Telecel...

by Staff reporter

More Zimbabwe assets face seizure abroad

17 July 2015 | 6144 Views
Amari has obtained seizure orders against ZMDC following the dismissal of its injunction application in Zambia seeking to overturn an International Court of Arbitration award of $54 million. ...

by Staff reporter

Mugabe company refutes imports claim

16 July 2015 | 7339 Views
Gushungo Estate Dairy subsidiary, Alpha Omega on Thursday told the state media that it has never contemplated exporting its products to Equatorial Guinea and has never been engaged in any export talks...

by Staff Reporter

Zimbabwe summons Mwana Africa over indigenisation

16 July 2015 | 5001 Views
Government will summon Mwana Africa’s management to Zimbabwe, amid concerns that the country’s indigenisation legislation has been violated during changes at the mining company.Changes in ...

by Staff reporter

Delta stumbles as beverage sales volumes fall

16 July 2015 | 5722 Views
ZIMBABWE'S largest beverage manufacturer, Delta Corporation is planning to reduce employee numbers to address falling sales of lager and sparkling drinks.In an internal memo to Human Resources...

by Staff reporter

Telecel Zimbabwe opens franchise shops

15 July 2015 | 5233 Views
Telecel Zimbabwe has introduced ten new franchise stores in Zimbabwe in line with plans to expand the mobile network's retail footprint through a new franchise model designed to meet increasing custom...

by Agencies

Anchor Yeast plunged into insolvency, to sell off assets

14 July 2015 | 5114 Views
ZIMBABWE's sole yeast producer has plunged into insolvency, placing its assets, including the head office for sale.In an advert in today's daily papers, Anchor Yeast Properties said it will se...

by Mafu Sithabile

Pick n Pay to open another branch in Zimbabwe

14 July 2015 | 6102 Views
Pick n Pay is set to open another branch at Avondale Shopping Centre before month end as part of its expansion into Zimbabwe's retail sector. Pick n Pay in partnership with TM already oper...

by Staff reporter

Govt to buy Telecel Zimbabwe

14 July 2015 | 5447 Views
Government is set to buy the entire shareholding of Telecel Zimbabwe, the country's third largest mobile operator, as it moves to increase its influence in the telecommunications sector. ...

by Staff reporter

Castle Milk Stout Chocolate is back for good

13 July 2015 | 2680 Views
South African beer aficionados who failed to get their hands on last year's limited-edition run of Castle Milk Stout Chocolate now have ample opportunity to taste the new variant as the country's lead...

by Agencies

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