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Scandinavian backed Spear Capital acquires 27% of Zimbabwe's Dendairy

Scandinavian-backed private equity investment company, SPEAR Capital acquired 27% of Zimbabwe's second largest dairy producer, Dendairy. The deal, which was a combined debt/equity transaction, had a v...Read more

Scandinavian backed Spear Capital acquires 27% of Zimbabwe's Dendairy

27 May 2015 | 685 Views
Scandinavian-backed private equity investment company, SPEAR Capital acquired 27% of Zimbabwe's second largest dairy producer, Dendairy. The deal, which was a combined debt/equity transaction, had a v...

by APO

Telecel hopes for fair conclusion

27 May 2015 | 483 Views
Telecel Zimbabwe says it expects Government to resolve its licence issue in a fair and transparent manner. POTRAZ in early May cancelled Telecel's licence over its failure to regularise it...

by Staff reporter

VAT makes Zimbabwe expensive

27 May 2015 | 441 Views
Zimbabwe's tourism products already cost 35 percent more than similar offerings from the region and Value Added Tax on accommodation for non-residents will worsen its profile as an expensive desti...

by Staff reporter

Zimbabwe to exit deflation in 2016

27 May 2015 | 676 Views
Zimbabwe should move into positive inflation in 2016, with regional economists projecting an annual inflation rate of 1,5 percent by the end of 2016. The African Development Bank also estimate...

by Tawanda Musarurwa

Zimbabwe records 3.2% economic growth

26 May 2015 | 1414 Views
The African Economic Outlook 2015 said Zimbabwe's economy is set to record marginal increases in gross domestic product (GDP) this year and in 2016 on the back of a planned investment in infrastru...

by Staff reporter

Chicken Inn opens outlet in Gwanda

25 May 2015 | 2278 Views
INNSCOR'S Fast Foods Division has spread its wings to Gwanda Town where it has opened new outlets. The fast foods division already has operations across major cities in the country such as Harare, Bu...

by Staff reporter

Zimbabwe suspends 15% platinum levy

25 May 2015 | 1313 Views
ZIMBABWE has put the brakes on a plan to levy a 15% tax on unbeneficiated platinum group metals (PGMs).The levy would not be implemented until current discussions between platinum miners and G...

by Staff reporter

Steward bank official, other two accomplices steal $2300 from bank

23 May 2015 | 2421 Views
AN EMPLOYEE with the Steward Bank in Bulawayo allegedly connived with outsiders to defraud his employer of $2300 through activating the dormant account at the bank so that they could clandestinely...

by Stephen Jakes

NetOne to launch 5G network

22 May 2015 | 5394 Views
MOBILE network provider, NetOne will launch Fifth Generation network once its technology partner has completed research and development into the new technology.NetOne's equipment partner, Huaw...

by Staff reporter

NMBZ expecting a good performance in 2015

22 May 2015 | 2234 Views
NMBZ is expecting a good performance in 2015, barring a significant deterioration in the economy, NMB Chief Executive, Ben Washaya has said. Washaya said the tough economic conditions con...

by Ndou Paul

African organisations under pressure to sharpen skills retention and employee engagement - Sage

22 May 2015 | 2719 Views
Businesses across major African economies such as Kenya and Nigeria are coming under increasing pressure to align their strategies for retaining talent, compensating employees and engaging with their...

by APO

Econet profits plummet by 41%

21 May 2015 | 3073 Views
Econet Wireless reported a 41% drop in profits, dragged down by significant tariff cuts, punitive regulatory measures and a deflationary economic environment in the country. Profit for the year en...

by Staff reporter

Zimbabwean company to manufacture devices for Safaricom

21 May 2015 | 3234 Views
G-Telecoms (GTel), a Zimbabwean mobile handset manufacturer, has inked an agreement with Kenyan operator Safaricom to offer devices on contract. The agreement is expected to give Safaricom customers f...

by Staff reporter

Sithembiso Nyoni on collusion course with Grace Mugabe

21 May 2015 | 8123 Views
Minister of Small to Medium Enterprises and Co-operatives Development, Sithembiso Nyoni is bracing for a clash with First Lady, Grace Mugabe after she ordered Masvingo City council to urgently remove ...

by Staff Reporter

Safeguard invests $200 000 in rapid response vehicles

21 May 2015 | 4059 Views
Safeguard Alarms has added 10 brand new Nissan NP200 trucks to its rapid response fleet, making it possible for the company to increase its emergency response capacity.The trucks, which cost m...

by Chris Chinamhora

Zimbabwe to rope in Chinese in SEZs infrastructure development

20 May 2015 | 2993 Views
The Government says it would like to see Chinese developers becoming heavily involved in the development of infrastructure for Special Economic Zones (SEZs) that will be set up across the country....

by Tawanda Musarurwa

'Overvalued' world markets spark interest in cheap Zimbabwe

20 May 2015 | 3922 Views
As investment managers are under pressure to find value opportunities in a reportedly overvalued global equity environment, the annual Imara Zimbabwe Investor conference will showcase the potentia...

by Staff reporter

Zimpapers to close-shop on Saturdays?

20 May 2015 | 5148 Views
The appointment of Delma Lupepe, a devout Seventh-Day Adventists as Zimpapers board chairman this week has raised questions whether the stable will be opened for business on Saturdays. Lupepe's fana...

by Thobekile Zhou

Kingdom Bank Africa under final liquidation

20 May 2015 | 2981 Views
The High Court has appointed Max Marinelli and Chris Bray, both chartered accountants in Gaborone to oversee the liquidation of Kingdom Bank Africa. Nigel Chanakira remained invested in KB...

by Staff reporter

Zimbabwe could dispose of stake in Pan African Minerals Development Company

19 May 2015 | 3068 Views
Government is considering the possibility of disposing foreign assets belonging to the National Railways of Zimbabwe (NRZ), and using the funds to re-capitalise the country's sole railway company....

by Tawanda Musarurwa

SA Businesses to Benefit from Establishment of African Free Trade Area

19 May 2015 | 1497 Views
19 May 2015: It was recently announced that negotiations around the establishment of a single free trade area - spanning across 26 nations in Africa, also k...

by Angency

Delma Lupepe appointed Zimpapers chairman

19 May 2015 | 2927 Views
BULAWAYO businessman Delma Lupepe has been appointed as the chairman of Zimbabwe Newspapers (1980) Limited. Mr Lupepe replaces Dr Charles Utete who stepped down from the board last month....

by Staff reporter

Zimbabwe targets $1,5 billion from tourism

18 May 2015 | 2166 Views
Zimbabwe is targeting to earn $1,5 billion from the tourism sector this year, an official said on Friday.Zimbabwe Tourism Authority (ZTA) chief executive Mr Karikoga Kaseke said the country wh...

by New Ziana

Parly Committee absolves Telecel

18 May 2015 | 3407 Views
The Parly committee on ICT last Thursday presented a report which absolved Telecel Zimbabwe of any wrong doing in the licence saga. The report said Telecel had mutually agreed with Governm...

by Staff reporter

Dr James Makamba in the dock

17 May 2015 | 5679 Views
LAST week, The Sunday Mail Business engaged one of Telecel's key shareholders, Dr James Makamba to answer some contentious and curious questions that have arose over the last 18 years since the format...

by Staff reporter

Econet mulling a major restructuring exercise

17 May 2015 | 4490 Views
ECONET Wireless Zimbabwe (EWZ) is believed to be mulling a major restructuring exercise through which a sizable chunk of its workforce will be laid off while some business units will be consolidated i...

by Staff reporter

Mobile network operators' revenue decline

15 May 2015 | 3931 Views
Revenue that mobile network operators generated declined by 17.9 percent in the fourth quarter of last year while the number of base stations increased by 9.7 percent, the Postal and Telecommunication...

by New Ziana

Change of Telephone number format for Chipinge

15 May 2015 | 1225 Views
TelOne advised its clients and stakeholders that it has digitaiised the Chipinge Exchange. Chipinge landline numbers will therefore be changing to include a three digit prefix after the ar...

by Ndou Paul

Public notice - Disruption of telecommunication services

15 May 2015 | 3937 Views
Public noticeDisruption of telecommunication servicesTo all our valued clientsTel-One would like to advise its valued clients and stakeholders that there may be an interruption of service ...

by Ndou Paul

Forum raps Potraz over Telecel licence cancellation

15 May 2015 | 3836 Views
The recent attempt by government through the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) to cancel Telecel's operating licence discourages foreign direct investment and...

by Staff reporter

Zimbabwe's pay gap above 4,000%

14 May 2015 | 4162 Views
The wage gap between Zimbabwe's highest and the lowest paid employees is slightly above 4 000%, a survey has shown.According to a survey conducted by one of Zimbabwe's leading employment consu...

by Staff reporter

Workers go for 28 months without pay

14 May 2015 | 5353 Views
14 May 2015 Press Statement: It is Now 28 months for Marvo workers still counting without pay. Though it doesn't look like there would be a solution an...

by Marvo Workers

Cimas puts in place measures to expedite processing of drug claims

14 May 2015 | 2390 Views
Cimas Medical Aid Society has put in place measures to ensure that all drug claims are processed expeditiously, following its decision to suspend its online drug payment facility as a result of a...

by Mike Hamilton

RBZ to hold demonetisation awareness campaigns

14 May 2015 | 3860 Views
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has indicated that all operating banks have now submitted their Zimbabwe dollar bank balances.The bank set aside $20 million for demon...

by Staff Reporter

'Econet stole my idea'

14 May 2015 | 7238 Views
Econet Wireless is likely to face a lawsuit after reportedly hijacking a mobile savings scheme targeting low-income women's grassroots groups.The company was recently embroiled in a media sto...

by Staff reporter

Unilever suspends top management

14 May 2015 | 1902 Views
Unilever has suspended Zimbabwe-based vice president for Southern Africa, Nancy Guzha, Southern Africa brand building director Juliet Ziswa and four other top managers amid allegations of serious ...

by Staff reporter

Zimra suffers major system failure

14 May 2015 | 3474 Views
Cargo trucks destined for various countries across the region are stuck at border posts as the Zimbabwe Revenue Authority struggles to upgrade its System for Customs Data known as ASYCUDA.The...

by Thupeyo Muleya

'Telecel licence cancellation a blunder'

14 May 2015 | 3656 Views
THE government blundered when it cancelled Telecel Zimbabwe's operating licence and gave the mobile phone operator 30 days to wind up operations, a High Court judge has said. "It's a truism t...

by Fidelis Munyoro

Delta Beverages continues to register a decline in volumes

13 May 2015 | 3850 Views
Beverages maker Delta continues to register a decline in volumes as the slowdown in the economy takes its toll on the company's performance.Revenue for the year ended March 2015 was down 4 per...

by Rumbidzai Zinyuke

Fastjet recruiting staff in Zimbabwe, plans to commence Harare operations soon

13 May 2015 | 6241 Views
AIM listed low-cost airline Fastjet which owns fastjet Zimbabwe Limited on Wednesday announced that it is recruiting staff in Zimbabwe as it plans to commence operations in Harare in the next few m...

by Ndou Paul

Harare demands cable rentals from Econet

13 May 2015 | 3084 Views
Cash-strapped Harare City Council has extended its fishing net to underground cables laid down by telecommunications firms and is demanding monthly rentals for the property. Council busine...

by Staff reporter

Dubai firm target Bulawayo for funding

12 May 2015 | 5556 Views
A DUBAI off-shore lending company - Elbygare Global has offered short and long term finance for Bulawayo City Council's infrastructure projects at a time the local authority is struggling to access af...

by Thobekile Zhou

Mugabe discusses Telecel Zimbabwe licence in Russia

12 May 2015 | 7694 Views
We see the Telecel Zimbabwe licence issue was raised as an agenda point during President Robert Mugabe's trip to Russia and an article appeared in one of the top circulating papers in Russia, ...

by Staff reporter

Telecel licence subject of discussion at Russia's highest governmental level

12 May 2015 | 5036 Views
ZIMBABWE-VIMPELCOM-LICENSE-TALKS08.05.2015 18:39:42 MSKThe problem with the license for Vimpelcom in Zimbabwe could become the subject of discussion at the highest governmental level – (sou...

by Interfax

National Blankets to cash in on winter

11 May 2015 | 1205 Views
National Blankets is targeting to increase production levels this winter from an average 20% to 50% but it requires more than $3 million working capital.National Blankets manufactures a wide v...

by Staff Reporter

Dollarisation the new normal for Zimbabwe, says RBZ

11 May 2015 | 5288 Views
Reserve Bank of Zimbabwe Governor John Mangudya says the lack of competitiveness and negative perception besetting the economy were not a currency problem, but a production phenomenon. The...

by Staff reporter

Zambian soap company open plant in Zimbabwe

09 May 2015 | 5828 Views
Trade Kings Zambia Limited has set up a 50-million dollar detergent soap plant in Zimbabwe.Trade Kings Operations Director Bright Chunga says the plant will later introduce other products....

by Staff reporter

TelOne upgrades its Kariba, Karoi exchanges all telephone numbers to change

08 May 2015 | 3933 Views
The country's sole fixed telephone operator, TelOne is currently in the process of digitalizing it's network, in a move that will unlock new capacity as well as introduce more technologies and incre...

by Ndou Paul

Air Zimbabwe acquires new Airbus A320

08 May 2015 | 5990 Views
AIR Zimbabwe has acquired a new aircraft, an Airbus A320, in a move that is expected to restore confidence in the country's aviation industry and increase connectivity to international destinations....

by Staff reporter

Samsung to set up TV, fridge plant in Zimbabwe

08 May 2015 | 5981 Views
Korea-based telecoms manufacturing giant Samsung yesterday signed a $10 million deal with a local company, Cranbal Investments that will see the international firm setting up a television and refriger...

by Staff reporter

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