Breaking News

Two diamond firms to remain in Marange

Government has formally informed diamond companies in Marange that only one or two of them will be left to mine, after they failed to properly account for revenue realised from their operations....Read more

Two diamond firms to remain in Marange

24 April 2014 | 406 Views
Government has formally informed diamond companies in Marange that only one or two of them will be left to mine, after they failed to properly account for revenue realised from their operations....

by Staff Reporter

Foreign banks in Zim can keep majority stakes, for now

23 April 2014 | 922 Views
Zimbabwe will not take any foreign investment capital as part of its controversial indigenisation policy, the finance minister said TuesdayThe indigenisation law, introduced in 2010 with the a...

by Sapa-AFP

Steward Bank to close 8 branches

23 April 2014 | 2334 Views
Steward Bank intends to close about eight branches across the country, rendering more than 100 employees jobless, as the bank seeks to streamline its costs.The financial institution, currently...

by Tinashe Makichi

Telecel donates desks, chairs, balls to Chemondoro School in Murewa

22 April 2014 | 649 Views
Telecel has donated a truckload of desks, chairs and sports equipment to Chemondoro Primary School, which, with more than 2 000 pupils, is the largest primary school in Murewa. The school ...

by MHPR

Nepotism scandal rocks Cimas

22 April 2014 | 2966 Views
One of the country's largest medical aid societies, Cimas, has been sucked into a messy nepotism and cronyism scandal. Deputy board chairman Eben Makonese allegedly influenced the appoint...

by Staff reporter

Angola airline to increase Zimbabwe, Luanda direct flights

19 April 2014 | 1730 Views
Angola's national carrier, Linhas Aereas de Angola (Taag), plans to introduce frequent direct flights between Harare and Luanda on the back of increased business between the country and Zimbabwe....

by Staff reporter

Econet targets Beitbridge for 4G LTE

17 April 2014 | 1971 Views
Telecommunications giant Econet Wireless Zimbabwe says its next stop for fourth generation 4GE Long-Term Evolution (LTE) network will be Beatrice.Group chief executive officer Douglas Mboweni ...

by Staff reporter

Iranians abandons Zimbabwe project

16 April 2014 | 4800 Views
Chitungwiza based textile manufacturer, Modzone Enterprises, closed shop in 2012 after its Iranian shareholders stopped investing in the firm as they were not recouping anything from the venture, an o...

by Staff reporter

Air Zimbabwe flies with less than 30 passengers aboard

16 April 2014 | 6320 Views
Air Zimbabwe (AirZim) is struggling to break even on its Harare-Johannesburg-Harare route amid disclosures that one flight on March 29 had less than 30 passengers aboard.The airline was using ...

by Staff reporter

Lack of skills hound Zimbabwe companies

15 April 2014 | 3933 Views
Zimbabwean companies have continued to suffer as a result of the brain drain which saw the most skilled employees leaving the country for greener pastures in the past decade....

by Staff reporter

Largest supermarket in Zimbabwe opens its doors

15 April 2014 | 10245 Views
The largest supermarket in Zimbabwe by size, Horizon Ivato, will be further expanded to include a fresh produce store and have prices of regionally-produced goods slashed to stay relevant in the ...

by Staff reporter

Total Zimbabwe begins T-Air stations rollout

14 April 2014 | 5229 Views
Total Zimbabwe, one of the leading energy supply company in Zimbabwe, has launched the new T-Air station model in Harare.The new T-Air station, the first of its kind in Zimbabwe, has been ini...

by Staff reporter

More company closures loom in Zimbabwe

13 April 2014 | 3921 Views
GOVERNMENT's failure to pay suppliers for goods and services rendered will continue to result in more company closures for the next three years, delegates at the Zimbabwe Accountants Conference h...

by Staff reporter

Telecel slashes call tariffs by 37% across all networks

13 April 2014 | 1638 Views
Telecel Zimbabwe has unveiled a pre-paid service platform that will discount call tariffs by as much as 37 percent across all networks.The service, Telecel Go, which significantly reduces call...

by Staff reporter

Zesa increasing number of pre-paid electricity token vendors

12 April 2014 | 3055 Views
Zesa Holdings is increasing the number of vendors selling pre-paid electricity tokens from three to eight next month. The power utility will also introduce scratch cards and enable consumers t...

by Staff Reporter

Telecel Go removes boundaries, reduces cost of calls to all networks

11 April 2014 | 4102 Views
Telecel has launched a new pre-paid service platform called Telecel Go, which removes the boundaries between networks and reduces the cost of calls across all networks significantly below the reg...

by MHPR

Domino's Pizza heads for Zimbabwe

11 April 2014 | 3810 Views
One of the leading global pizza brands, Domino's, will soon be available in the country after South Africa-based Taste Holdings signed a 30-year master franchise agreement with Domino's Pizza Interna...

by Mernat Mafirakurewa

Telecel network coverage increase to 85%

10 April 2014 | 2185 Views
TELECEL Zimbabwe network coverage has increased by 35 percentage points to 85 percent since Zimbabwe's economy was dollarised in 2009. According to Telecel, which has invested over $50 million...

by Paul Nyakazeya

Zimbabwe allocates LTE spectrum for operators

10 April 2014 | 2154 Views
Spectrum has been allocated to Zimbabwean telecom companies that want to run LTE enabled broadband networks, the local regulator has confirmed.This move by the Posts and Telecommunications Reg...

by Staff reporter

Econet contributes $900m to economy since 2009

10 April 2014 | 1671 Views
Econet Wireless has contributed a cumulative $900 million to the local economy, an official has said.Speaking during the tour of Econet's premises in Graniteside and Willowvale by Parliamentar...

by Staff reporter

Delta Beverages revenue decline 9%

10 April 2014 | 1680 Views
Delta Beverages recorded a 9% decline for the fourth quarter and nearly flat for the full year attributable to the slowdown in consumer spending and weak economic activity. The total beverage volum...

by Business reporter

TelOne digitalisation moving at a snail's pace

10 April 2014 | 1142 Views
TELONE'S digitalisation of the Gweru Exchange Centre and the rollout of its fibre network is moving at a snail's pace due to failure by customers to settle their bills.The fixed telecommunications op...

by Lovemore Zigara

Zim to compensate Beitbridge Border Post contractor

09 April 2014 | 2413 Views
Zimbabwe might have to compensate the company which was contracted to transform Beitbridge Border Post into a one-stop entry point in 2010 if Government engages another company to finish the job....

by Staff reporter

Delta renews hostilities with beverage wholesalers

09 April 2014 | 2632 Views
Delta Corporation has renewed hostilities with beverage wholesalers amid allegations that the beverage manufacturer is demanding payment within three days despite holding security from customers. ...

by Business reporter

Econet Wireless not selling MBC

09 April 2014 | 2489 Views
Econet Wireless has reaffirmed its commitment to its investment in Mutare Bottling Company, seeing through the installation of a $17 million new line and factory, which will boost the firm's abili...

by Business reporter

'No need for Zimbabwe to import cement'

07 April 2014 | 3075 Views
THERE is no need for Zimbabwe to import cement from neighbouring countries because local cement producers have the capacity to meet the current demand, an industry official has said. Zimbabwe ...

by Staff reporter

Zim fuel consumption more than doubles

07 April 2014 | 2546 Views
Zimbabwe's fuel consumption has more than doubled in the past three years although the country's major industries are sneezing. Figures compiled by the Zimbabwe Energy Regulatory Authority sho...

by Tendai Mugabe

The African Development Bank On 'Green Growth'

04 April 2014 | 1279 Views
The African Development Bank's new policy acknowledges that to sustain economic growth in Africa, there is an urgent need to preserve and enhance the ecological capital that enriches such growth. ...

by Maxwell Teedzai

CBZ picks new CEO

04 April 2014 | 2503 Views
CBZ Holdings has appointed chartered accountant Never Nyemudzo as group chief executive officer replacing John Mangudya who was recently appointed new Reserve Bank of Zimbabwe (RBZ) governor.&nbs...

by Staff reporter

Econet Wireless under probe

04 April 2014 | 3797 Views
ECONET Wireless Zimbabwe has again attracted the ire of banks after it emerged this week that the mobile telephone company could be engaged in potentially unfair business practices that have attracted...

by Business reporter

Econet Wireless now offering EcoCash Save Loans

03 April 2014 | 4017 Views
Harare-Econet Wireless is now offering loans on its EcoCash Save platform. The loans have no paperwork involved (except of course what you do on initial registration as an Econet Wireless & E...

by Staff Rep[orter

Telecel sponsors DragPro Racing again

03 April 2014 | 1743 Views
Telecel Zimbabwe is the title sponsor of the 2014 DragPro Racing Series, which begins at Donnybrook on Sunday, the second year in a row it has been the title sponsor. Racing begins at...

by MHPR

Econet starts loan roll out

03 April 2014 | 4494 Views
Econet Wireless prepaid service subscribers are now able to access a maximum of $500 worth of loans using cell phones under Econet's mobile phone savings account. The mobile phone-based lo...

by Staff reporter

Company offers $1,50 salary to workers

03 April 2014 | 4283 Views
A Harare recycling company has angered its contract workers by offering them a basic salary of between $1,50 and $5 per month, which they are to supplement with a commission from selling its products....

by Staff reporter

Sam Malaba takes over at BAZ

02 April 2014 | 1997 Views
Barclays Bank Zimbabwe managing director Mr George Guvamatanga has stepped down as Bankers Association of Zimbabwe (BAZ) president after the expiry of his two-year tenure with his deputy Mr Sam Malaba...

by Staff reporter

Econet, association head for clash

02 April 2014 | 2655 Views
The Mobile Money Transfer Agents Association of Zimbabwe and Econet are heading for a possible clash over the latter's recent directive that each of its agent should register at least 5 new customers...

by Staff reporter

McInn Supermarket forced to shut down

02 April 2014 | 2501 Views
ONE of Gwanda's leading retail outlets, McInn Supermarket run by businessman Mgcini Nkolomi, has been forced out of a building owned by Transport minister Obert Mpofu ostensibly for purposes of renova...

by Staff reporter

Hwange Colliery struggling to pay workers

01 April 2014 | 2607 Views
Hwange Colliery Company  Limited (HCCL) has admitted that it is struggling to pay salaries to its workforce but apportioned the blame on prioritising limited cash on capital expenditure....

by Lesley Moyo

Bob Diamond's company set to acquire ABC Holdings

31 March 2014 | 4574 Views
Bob Diamonds' Atlas Mara Co-Nvest is set to acquire for cash or shares, ABC Holdings shares representing 50.1% of the total shares issued at a price of 82c per share or the equivalent in Atlas Mara sh...

by Business reporter

Pioneer revenue to increase by $21m in 2014

31 March 2014 | 3373 Views
Pioneer Corporation's revenue is expected to increase by at least $21 million in 2014 after the incorporation of the business assets and liabilities of Unifreight Limited in December 2013, group actin...

by Staff reporter

Chiyangwa's ZECO stagnates

31 March 2014 | 3158 Views
Listed engineering firm ZECO Holdings has remained stuck in the red after posting a loss of $3,3 million for the year ended December 31 2013 due to high operating costs.The $3,3 million loss w...

by Staff reporter

Obert Mpofu's Allied Bank needs to get investment

31 March 2014 | 2555 Views
The successful courting of an investor by Allied Bank Limited will have a significant bearing on its operations and continuation as a going concern.Allied Bank is among seven banks being moni...

by Staff reporter

Zim banks to reduce lending

31 March 2014 | 2725 Views
FINANCIAL institutions are most likely to reduce lending this year to minimise the risk posed by non-performing loans as was reflected in most banks' 2013 financials.ABC Holdings limited group...

by Business reporter

All-Time Greats Cristiano Ronaldo and Pelé join forces with Emirates for new campaign

31 March 2014 | 1957 Views
LUSAKA, ZAMBIA, March 31, 2014: Emirates Airline, an Official FIFA Worldwide Partner, has announced that Cristiano Ronaldo, Portuguese captain and winner of the FIFA Ballon d'Or 2013, is its newest Gl...

by Staff Reporter

Telecel sued over debt

28 March 2014 | 1840 Views
Telecel Zimbabwe (Pvt) Limited is being sued by NICLIFT Investment for allegedly failing to pay the firm $52 000 for services provided to the mobile phone network provider four years ago.Accor...

by Peter Matambanadzo

Banks withdrawal limits illegal, says BAZ

26 March 2014 | 4040 Views
Zimbabweans do not understand how banking systems work hence they usually get a raw deal from bankers who take advantage of their ignorance.Addressing parliamentarians recently, Bankers Associ...

by Staff reporter

IMF to re-open its Zim office

23 March 2014 | 3692 Views
THE International Monetary Fund (IMF) is set to re-open its local office later this year, a decade after its closure, signalling the warming of relations between the global lender and Zimbabwe, a top ...

by Staff Reporter

Solenta withdraws its aircraft from Air Zimbabwe

20 March 2014 | 4718 Views
AIR Zimbabwe has increased its fares following the withdrawal of the 50-seater Embraer ERJ 145 LR that was leased to the national airline by Solenta Aviation Limited.The airline used to servic...

by Pamela Shumba

Zimra garnishees CAAZ over tax

20 March 2014 | 2647 Views
The Zimbabwe Revenue Authority's garnishee axe fell on the Civil Aviation Authority of Zimbabwe on Monday (March 17) after it failed to remit tax dues on time. The garnishee threatened the sta...

by Zvamaida Murwira

Number of Telecash agents, merchants increases from 1 600 to 2 600

19 March 2014 | 2025 Views
The number of Telecash agents and merchants countrywide has increased by a thousand, from 1 600 to 2 600, since the mobile money transfer service was launched by Telecel at the end of January....

by MHPR
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