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Econet buys Telecel

Econet Wireless Global (EWG) has acquired the assets of Russian global telecoms operator, Vimpelcom, in the Eastern and Central African countries of Burundi and Central African Republic.E...Read more

Econet buys Telecel

20 October 2014 | 3846 Views
Econet Wireless Global (EWG) has acquired the assets of Russian global telecoms operator, Vimpelcom, in the Eastern and Central African countries of Burundi and Central African Republic.E...

by Staff reporter

NRZ employees in trouble over ZW$932 900

20 October 2014 | 1444 Views
TWO National Railways of Zimbabwe (NRZ) employees are in trouble over more than ZW$932 900 which they allegedly defrauded a former employee who was being compensated every month after he incurred...

by Court reporter

Kingdom bank crisis continues as people spend nights for $50

20 October 2014 | 1565 Views
SCORES of people have set up camp at AfrAsia Bank (formerly Kingdom), where they are spending nights in queues hoping they could withdraw as little as $50 the following day, in scenes reminiscent ...

by Business reporter

French and Belgian government 'frustrated with Britain and EU over Zimbabwe'

19 October 2014 | 2334 Views
French and Belgian government officials apparently want to normalise relations with Zimbabwe but are being hindered by the European Union.The French, in particular, have expressed frustration ...

by Staff Reporter

AfrAsia bosses hint at $10million cash injection to ease woes

19 October 2014 | 1132 Views
AfrAsia bosses were in Zimbabwe last week and indicated that a US$10 million cash injection will be made into the lender in the short term to try and ease the problems faced by the Mauritian-based par...

by Staff Reporter

Buyanga buys Cell funeral assurance

17 October 2014 | 2681 Views
Controversial businessman Frank Buyanga has reportedly acquired Cell Funeral Assurance Company (Cell Funeral), Business Live reported. While Cell Funeral general manager Paidemoyo Mahundi ...

by Staff reporter

TM order to pay $2,390 back pay to its underpaid managers

16 October 2014 | 2513 Views
TM Supermarket has lost an appeal at the High Court after it unsuccessfully sought the court to set aside of an arbitration which compelled it to pay three of its managers a total of $2,390 each being...

by Staff Reporter

Tastic cooking sauces and rice products recalled from shops

16 October 2014 | 4228 Views
Johannesburg - Tiger Brands has recalled some of its cooking sauces and rice products after tests found traces of potentially carcinogenic ingredients, the food company said on Thursday.Af...

by Reuters

Women in Business Indaba for Gwanda

16 October 2014 | 1440 Views
THE Women Alliance of Business Associations in Zimbabwe (WABAZ) which has been embarking on "Town Hall" meetings across the country finally makes its way to the Matabeleland South Capital Gwanda t...

by Business Reporter

AfrAsia boss visits Zimbabwe

16 October 2014 | 1764 Views
AfrAsia Bank Mauritius CE James Benoit was recently in Zimbabwe to firm up discussions on the hunt for a new managing director for AfrAsia Bank Zimbabwe and strategies to solve the banking unit's...

by Staff reporter

RBZ repays raided bank accounts

16 October 2014 | 1982 Views
The RBZ has issued $300 million worth of Treasury Bills to local banks to compensate companies whose foreign currency accounts it raided during the hyperinflationary era. The move is mean...

by Staff reporter

MBCA to become Nedbank

16 October 2014 | 2940 Views
MBCA Bank, a unit of South Africa's Nedbank group, is next year change its name to Nedbank Zimbabwe. Nedbank, the fourth largest bank in South Africa by market capitalisation and customer ...

by Staff reporter

RBZ relaxes exchange controls to stimulate FDIs

15 October 2014 | 1226 Views
The RBZ has relaxed foreign exchange regulations as part of measures to stimulate foreign direct investment. Kupukile Mlambo, RBZ deputy governor said the central bank now allows foreign i...

by Staff reporter

Air Zimbabwe eyes fleet modernization

14 October 2014 | 1326 Views
National airline, Air Zimbabwe will modernize its fleet in a phased approach, as part of a multi-pronged turnaround business strategy. Fleet modernization is critical to the survival of the na...

by Staff reporter

Top finance group opens offices in Byo

14 October 2014 | 4233 Views
BULAWAYO - One of the world's largest independent financial advisory organisations - the deVere group - has opened an office in Bulawayo, its second in Zimbabwe as part of its bid to expand its Af...

by Business reporter

Delta Beverages total beverage volume is down 3%

13 October 2014 | 919 Views
Delta Corporation Limited issued a trading update for second quarter ended September 30, 2014 as follows:"The general economic performance remains depressed with significant pressure on consum...

by Staff reporter

Maize shortages allayed as GMB records increase in productivity

13 October 2014 | 1162 Views
The Grain Marketing Board has received 178 948 tonnes of maize from farmers so far, indicating a 542 percent increase compared to the same period last year, according to the Herald.In a st...

by Business reporter

$160 million boost for Zesa

13 October 2014 | 1506 Views
ZESA Holdings will this week secure a $160 million loan from Stanbic South Africa if a power purchase with Namibia's power utility, Nampower is brokered.The Stanbic loan was extended to Ze...

by Business reporter

Zimbabweans US$3 billion worth of shares from foreign-owned companies

12 October 2014 | 2404 Views
More than 1 089 applications since 2010 have been processed according to the latest National Indigenisation and Economic Empowerment Board compliance report.This has enabled Zimbabweans to sec...

by Staff Reporter

Innscor property attached for violating the Competition Act

10 October 2014 | 3488 Views
Several vehicles belonging to Innscor Africa Limited have been attached by the Sheriff of the High Court of Zimbabwe to enforce the payment of $3.3 million awarded against the multinational corpor...

by Staff reporter

Zimbabwe signs $1.5 billion Hwange power plant expansion deal

10 October 2014 | 2190 Views
Zimbabwe signed a $1.5 billion deal with China's Sinohydro Corp on Friday to expand a coal-fired power plant in the most ambitious move yet to tackle the country's crippling electricity shortages....

by Reuters

Irate depositors besiege AfrAsia Bank Bulawayo branch - Video

09 October 2014 | 2297 Views
There were bouts of violence at the embattled AfrAsia Bank Limited, formerly Kingdom Bank in Bulawayo as angry depositors stormed the banking hall demanding their cash.AfrAsia, which reb...

by Makhosi Sibanda

Lighthouse Print installs latest HP Latex digital printer

09 October 2014 | 1302 Views
Lighthouse Print has installed the latest HP Latex wide format printer, just over four months after it was launched in Munich, Germany, on May 20. It is the first Zimbabwean company to acquire th...

by Business Reporter

AfrAsia finally pays Chanakira

09 October 2014 | 4204 Views
Mauritian group, AfrAsia Holdings Limited has finally paid for Nigel Chanakira's 30 percent stake in financial services group, AfrAsia Zimbabwe Limited.Chanakira was paid about $2.5 millio...

by Staff reporter

Pick n Pay invests $14 million on Zimbabwe expansion

09 October 2014 | 1675 Views
South African retail giant Pick n Pay has so far invested about $14 million on expansion and upgrading its operations in Zimbabwe.The retail group through its partnership with TM Supermark...

by Staff reporter

Govt urges mining companies to set up refineries

09 October 2014 | 901 Views
GOVERNMENT has urged mining companies operating in the country to set up refineries to beneficiate and value add minerals.Mining has been designated as the anchor for Zimbabwe's medium ter...

by Staff Reporter

Metallon Gold ups productivity

09 October 2014 | 715 Views
Metallon Gold Corporation expects to produce about 500 000 ounces per annum in the next five years as the mining group steps up efforts to strengthen its position as the largest gold producer in t...

by Business reporter

Obsolete machinery impedes Zesa productivity

08 October 2014 | 1394 Views
THE Zimbabwe Electricity Supply Authority (Zesa) is losing about 20 percent of the electricity it generates because of ageing transmission infrastructure, a cabinet minister has revealed.E...

by Staff reporter

Broke NRZ loses $2million to suppliers

08 October 2014 | 2302 Views
THE cash-strapped National Railways of Zimbabwe could have been prejudiced of $2 million after suppliers paid to provide goods failed to do so, according to a 2012 audit report released by Auditor Gen...

by Staff reporter

Zim's unpaid debt dogs Ziscosteel deal

08 October 2014 | 1531 Views
FAILURE by the Zimbabwean government to settle part of Zisco Steel's domestic debt which ballooned to over $200 million up from $72 million in 2010 might jeopardize a new deal with Essar Africa H...

by Business reporter

Zimbabwe diamond exports sharply declines

07 October 2014 | 1891 Views
INDUSTRIAL grade diamonds dominate Zimbabwe's gem exports, although sales sharply declined to $188 million in 2013 from nearly $658 million in the previous year.The decline was due to weakenin...

by Staff reporter

Afreximbank lends Zimbabwe over $500 million annually

07 October 2014 | 946 Views
THE African Export-Import Bank (Afreximbank) is disbursing an average of $500 million per annum through various financing facilities to Zimbabwe. Afreximbank senior director (finance) Philip ...

by Staff reporter

RBZ releases Meikles funds

07 October 2014 | 1542 Views
MEIKLES Limited says it will now have access to its funds held on deposit by the Reserve Bank of Zimbabwe and will inject approximately $4million into its retail division which it expects to return t...

by Business reporter

Reduce imports, Zim govt told

06 October 2014 | 2032 Views
ZIMBABWE - THE country could save more than $2 billion dollars per annum if it reduces imports by 40 percent, a special advisory committee set up by government has said. The committee was set ...

by Business reporter

Zim local is not so lekker for top 5 supermarkets

06 October 2014 | 2655 Views
Zimbabwe's top five supermarkets Ok, TM, Pick n Pay, Spar and Food World are reluctant to allocate more shelf space to local goods as they have reservations on their quality, efficiency and standa...

by Staff reporter

Kenya Airways increases flights to Zimbabwe

05 October 2014 | 2321 Views
Regional airlines have continued showing confidence in Zimbabwe as a safe travel destination with East African airline, Kenya Airways, increasing its flight frequency to Harare from 14 to 19 times a w...

by Staff reporter

Zimbabwe heads for economic lockdown, says Tendai Biti

04 October 2014 | 4308 Views
FORMER finance minister and MDC Renewal leader, Tendai Biti, has warned that Zimbabwe is heading towards a virtual economic lockdown.Biti made the chilling warning while addressing a South...

by Staff reporter

Minister says much needs to be done to reduce work accidents

03 October 2014 | 1461 Views
With 71 deaths at work in the first eight months of this year and 3 598 serious injuries, a lot more needs to be done to reduce work accidents, Public Service, Labour and Social Welfare Minister N...

by Staff Reporter

Powertel users face data blackout

03 October 2014 | 2447 Views
POWERTEL, one of the country's leading internet providers has introduced a usage based data system, departing from their weekly and monthly unlimited access which has in the past given the company...

by Staff reporter

ZOL announces new CEO

03 October 2014 | 1807 Views
ZOL Zimbabwe has appointed Denny Marandure to be the new chief executive officer, replacing founder of the internet company David Behr, who is tipped for the chairmanship of the company.Before...

by Staff Reporter

Wave of price hikes hits Zimbabwe

02 October 2014 | 3907 Views
PRICES have started going up after a hike in fuel prices triggered by an upward review of tax on fuel by government, which is desperate to raise cash to fund a tight budget. Government increased exci...

by Staff reporter

Zimbabwe, Dar Salaam flights successful, says Fastjet

02 October 2014 | 3211 Views
Budget airline Fastjet says it's recently launched Dar es Salaam to Harare flights are performing very well. Company CE ED Winter said although the route including others to Lusaka and Ent...

by Staff Reporter

Personal care industry faces collapse

02 October 2014 | 1723 Views
The personal care industry faces collapse and is currently operating at 15% capacity utilisation due to economic challenges, Personal Care Manufacturers' Association secretary Gabriel Vembe has sa...

by Staff Reporter

NSSA donates freezers, pots, groceries to Bumhudzo Old People's Home

01 October 2014 | 1036 Views
National Social Security Authority management yesterday (Tuesday) presented to Bumhudzo Old People's Home two deep freezers, as well as cooking pots, 20 litre buckets and groceries that included c...

by Staff Reporter

Frantic account holders break bank doors demanding cash

30 September 2014 | 4475 Views
FURIOUS Kingdom Bank account holders yesterday damaged electronic glass doors at the bank's Jason Moyo Street branch in Bulawayo demanding their money after the institution limited cash withdraw...

by Loveness Bepete

'We should promote our Zimbabwean products,' says MDC-T MP

30 September 2014 | 2169 Views
THE business community should reduce imports and support industry by buying local products to preserve jobs, Nkulumane legislator Thamsanqa Mahlangu said yesterday.Speaking at a meeting w...

by Loveness Bepete

Air Zimbabwe passengers stranded again

30 September 2014 | 3453 Views
Air Zimbabwe passengers suffered yet another huge delay when those travelling from Harare to Bulawayo arrived in the city at around 1am on Saturday after the flagship carrier again failed to pro...

by Staff reporter

Zimbabwe economy heads South

30 September 2014 | 2970 Views
Zimbabwe's economy continues to weaken in the absence of strong government policies as evidenced by earnings results released this month by listed stocks as all companies showed signs of stress. ...

by Staff reporter

Nissan Zimbabwe loses franchise

30 September 2014 | 3013 Views
Nissan Zimbabwe (Pvt) Limited has lost the franchise as the official distributor of Nissan vehicles in the country and is embarking on a clearance sale for its stock. The clearance sale w...

by Staff reporter

TelOne targets to connect over 20 000 houses by next year

26 September 2014 | 2299 Views
TelOne, targets to fibre connect over 20 000 houses by next year under the $98 million fund from government and China, a company executive has said. Speaking on the side-line for the official ...

by Staff reporter
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