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RBZ pays 16 year old Meikles debt

Reserve Bank of Zimbabwe (RBZ) has begun payments of a 16-year-old debt to diversified conglomerate, Meikles Holdings Limited (Meikles).John Moxon, the Meikles chairman yesterday said the grou...Read more

RBZ pays 16 year old Meikles debt

20 August 2014 | 3237 Views
Reserve Bank of Zimbabwe (RBZ) has begun payments of a 16-year-old debt to diversified conglomerate, Meikles Holdings Limited (Meikles).John Moxon, the Meikles chairman yesterday said the grou...

by Staff reporter

Zimplats mine shut down

20 August 2014 | 4166 Views
The Bimha mine in Zimbabwe, operated by Zimplats, has been closed, Implats announced on Wednesday."Implats wishes to inform shareholders and other stakeholders that a decision has now been mad...

by Staff reporter

Standard Bank report confirms strong growth in Africa's rising middle class

19 August 2014 | 1484 Views
JOHANNESBURG - Africa has experienced substantial growth in its middle class over the past 14 years, according to a study by Standard Bank.The report,...

by APO

Egyptair to stop Harare flights

18 August 2014 | 3792 Views
Egyptian airline, Egyptair, has decided to roll back its Zimbabwean operation from next month, adding to woes of a flagging aviation industry, which has been battered by deteriorating economic and...

by Staff reporter

Lion Match factory sold to an Indian businessman for $1,68m

18 August 2014 | 2099 Views
Lion Match Zimbabwe’s factory was on Friday sold for $1,68 million to an Indian businessman who outbid several other businessmen of Asian origin. Bidding for the factory, which includes ...

by Staff reporter

Ecobank sinks $120m into Zimbabwe

18 August 2014 | 2129 Views
Pan African bank, Ecobank Zimbabwe says it has extended and deployed $120 million in lines of credit harnessed from within the Ecobank group and external financiers to support both the local corporat...

by Staff reporter

TM spends $4,5m on shopping complex

18 August 2014 | 3600 Views
TM Supermarkets has spent close to $4,5 million towards refurbishment and stocking of its new state of the art supermarket at the Old Mutual’s Msasa premises. The shopping complex, which...

by Staff reporter

Safeguard fits customised security doors within 48 hours

13 August 2014 | 1673 Views
Safeguard Engineering has increased its capacity to assemble and install made-to-measure folding security doors, offering installation within 48 hours of an order being placed.The security...

by Business Reporter

P&G recognised for its contribution to social and economic investment in Africa

13 August 2014 | 1308 Views
Johannesburg - Procter & Gamble (P&G) recently received the African Leadership Magazine Award for Companies Investing in Africa in recognition of its continued contribution to social and e...

by Business Reporter

Govt should control copper trade - NRZ

13 August 2014 | 1280 Views
The National Railways of Zimbabwe (NRZ) says government should centralise and control the trade of copper and related products in order to stifle the market for vandalised equipment from the state ru...

by Staff Reporter

Air Zimbabwe to resume international flights

12 August 2014 | 4661 Views
Struggling state owned Air Zimbabwe is set to resume international flights just three years after it halted its foreign business due to financial constraints."We are at an advanced stage, our...

by Staff reporter

Zimbabwe to promote local assembly of vehicles

11 August 2014 | 4964 Views
ZIMBABWE is to push through a policy promoting the importation of knocked-down vehicle kits and impose higher tariffs on imported vehicles, which are shipped mostly through South Africa and Namibia....

by Tawanda Karombo

Zimbabwe plans could dent South Africa exports

11 August 2014 | 6717 Views
Plans by Zimbabwe to drive a policy promoting vehicle assembly through the importation of knocked-down kits and the imposition of higher tariffs on imported vehicles will significantly dent exports by...

by Roy Cokayne

Econet could have never survived, Learn To 'Connect The Dots' - Masiyiwa

11 August 2014 | 3826 Views
In his August 10th Facebook comment, the founder and director of Econet - Strive Masiyiwa - said Econet could have never survived beyond 2007.Masiyiwa was commenting on, Learn To "Connect The ...

by Staff Reporter

Safeguard introduces mobile time and attendance package

08 August 2014 | 1768 Views
Safeguard Alarms has introduced a versatile employee time and attendance system that can be used anywhere, even away from a company's base at, for instance, a road construction site.The state-...

by Staff reporter

Air Zimbabwe eyes China, London routes

08 August 2014 | 1805 Views
AIR Zimbabwe (Air Zimbabwe) is in negotiations with an international investor to service China and London routes, which is expected to be a turnaround for the local airline, a government official has ...

by Staff reporter

Zimpapers staff to fight 20% pay cut

08 August 2014 | 1718 Views
WORKERS at Zimpapers have told management to expect a fight over plans to cut salaries by about 20 percent, a development the group chief executive claims has been forced by the country's foul econom...

by Staff reporter

Delta Beverages in Zimbabwe indigenisation hoax

08 August 2014 | 1795 Views
Beverage maker, Delta Beverages is non compliant with the Indigenisation and Empowerment Act, parliament was told on Thursday.Giving oral evidence to the Indigenisation and Empowerment Themati...

by Staff reporter

Temporary Suspension of the Bulawayo - Beitbridge Passenger Train Service

08 August 2014 | 3277 Views
The National Railways of Zimbabwe wishes to advise its valued travelling public that the Bulawayo – Beitbridge passenger train service has been temporarily suspended for a period of approximatel...

by Staff Reporter

Econet gets $150 million Afreximbank loan facility

07 August 2014 | 2392 Views
Econet Wireless Global has secured a $150 million loan facility from African Export-Import Bank to expand its operations.In a statement, Afrexim bank said Econet would use the funds to expan...

by Staff reporteer

Trevor Ncube's newspapers battle to stay afloat

07 August 2014 | 3234 Views
WORKERS at Alpha Media Holdings (AMH), owned by businessman Trevor Ncube, have still not been paid their July salaries as the country's ailing economy savages the media sector.This comes as s...

by Staff reporter

'Sanctions are hurting Zimbabwe startups,' Obama told

06 August 2014 | 3800 Views
In a rare one-on-one stage interview he held with US president Barack Obama, Zimbabwean technology entrepreneur, Takunda Chingonzo, told Obama that the supposedly targeted sanctions against some polit...

by Staff reporter

Fastjet in maiden Tanzania - Harare flight

06 August 2014 | 3419 Views
Low cost airliner, Fastject flew its maiden flight to Zimbabwe yesterday on the Dar-es Salaam - Harare route. The airliner will service the route twice weekly with one way tickets availabl...

by Staff reporter

Zimbabwe bread sales decline by half

06 August 2014 | 3854 Views
Bread sales have dropped by more than half from a maximum of 1.5 million loaves a day to 700 000 per day as a result of the liquidity crunch and high production costs. The Grain Millers As...

by Staff reporter

Russians in $1.6 billion Zimbabwe platinum mining deal

05 August 2014 | 2219 Views
A Russian consortium is set to invest $1.6 billion in a platinum mining project at Rushchrome Darwendale, following a deal with the Zim government last week.Finance Minister Patrick Chinamasa ...

by Nomalanga Moyo

'Zimbabwe will soon run out of money,' says Bankers

05 August 2014 | 6739 Views
Bankers Association of Zimbabwe (Baz) has warned that Zimbabwe will soon run out of money to sustain imports.Joseph Mverecha, Agribank divisional director, speaking on behalf of Baz president...

by Staff reporter

NRZ owes employees $55 million in salary

05 August 2014 | 1409 Views
HARARE - Struggling National Railways of Zimbabwe (NRZ) owes its employees $55 million in salary arrears for nine months, but has ruled out laying off part of its over 6 500 workforce, Parliament hear...

by Staff Reporter

Biti shoots down Chinamasa's economic projections

04 August 2014 | 4040 Views
MDC Renewal Team leader and former Finance minister Tendai Biti last Friday shot down his successor Patrick Chinamasa's economic projections, saying given the prevailing stagnation in most sectors, th...

by Staff Reporter

Banks against Zimdollar return

03 August 2014 | 3519 Views
THE Bankers Association of Zimbabwe (BAZ) says it is imperative for Government to retain the multi-currency trading regime to maintain price stability as well as to strengthen the banking sector for o...

by Dumisani Nsingo

Zimbabwe diamond finances, US targets German bank

03 August 2014 | 1940 Views
The United States has placed a German financial institution under strict surveillance for clearing payments for Zimbabwe's diamonds at the recent Dubai diamond tender, state media reported Sunday....

by APA

Zimbabwe still has a lot of diamond reserves

03 August 2014 | 2737 Views
Manicaland Provincial Affairs minister Christopher Mushohwe says the country still has a lot of diamond reserves in Marange, quelling speculation the precious mineral was running out.Delegates...

by Staff reporter

'Econet will not engage in price wars,' says Mboweni

01 August 2014 | 3919 Views
Econet Wireless Zimbabwe has indicated that it will not engaging in price wars following the slashing of prices by its competitors, group CE Douglas Mboweni told an AGM today.Mboweni sai...

by Staff reporter

Air Zimbabwe's Chinese made MA60 planes back in the skies

01 August 2014 | 3406 Views
AIR Zimbabwe today relaunches its Harare - Kariba - Victoria Falls route after a seven-year hiatus using the 50-seater Chinese made MA60 planes.The airline will be flying three times a week, a...

by Staff reporter

Telecel launches Transact & Win promo for its telecash service

31 July 2014 | 1434 Views
Telecel Zimbabwe has launched a new promotion for their telecash mobile money service called Transact & Win. The promotion rewards subscribers for using telecash. On offer are prizes includin...

by Staff Reporter

Go-Beer shut down

31 July 2014 | 2828 Views
Gweru City Council on Tuesday resolved to close the municipality-owned beer concern, Go-Beer Breweries after it emerged that the liquor undertaking has been financially straining the local authority....

by Staff reporter

Mine collapse affects Zimplats production

30 July 2014 | 1386 Views
Mining giant, Zimplats says its production capacity has been reduced by an estimated 9,5 percent due to the Bimha Mine fall-out incident.The mining company has begun to implement contingency p...

by Staff reporter

Zesa boss' contract renewed

30 July 2014 | 2151 Views
ZESA Holdings Chief Executive Engineer Josh Chifamba's contract has been renewed for another four years in line with government's corporate governance and remuneration policy framework for chief exec...

by Staff reporter

KLM Dutch Airlines to stop Harare flights

30 July 2014 | 5433 Views
KLM Royal Dutch Airlines has announced plans to stop operating the Amsterdam to Lusaka and Harare route with effect from October this year.KLM Royal Dutch Airlines began operating the Lusaka r...

by Staff reporter

Econet drives towards cashless society

30 July 2014 | 3331 Views
Econet Wireless Chief Executive Officer Douglas Mboweni has predicted that Zimbabwe will be the most "cashless" country in Africa by the end of this year.Speaking at the launch of the company'...

by Staff reporter

EcoCash launches Mobile Money Companion Debit Card in Zimbabwe

30 July 2014 | 4274 Views
Econet's Mobile Money service, EcoCash, today announced a landmark agreement with MasterCard that will significantly assist in reducing cash dependence and increase financial inclusion through the pro...

by Staff reporter

ZimTrade to host Exporters' Conference and Awards

29 July 2014 | 1340 Views
ZimTrade will be hosting its Annual Exporters' Conference and Exporter of the Year Awards on 30 September 2014 at the Meikles Hotel, Harare.The 2014 Conference will be held under the theme: "C...

by Staff reporter

Govt won't stop Zimra tax raids

29 July 2014 | 1802 Views
Finance Minister Patrick Chinamasa said Zimra will continue issuing garnishee orders to companies that evade tax. He told Parliament last week that Zimra's mandate is tax collection and th...

by Staff reporter

BAT Zimbabwe unit declares 100% dividend

28 July 2014 | 1786 Views
BAT Zimbabwe, the Zimbabwe unit of British American Tobacco, on Friday put a smile on its shareholders' faces after it declared a 100% dividend payout. After recording basic earnings ...

by Staff reporter

Two Zimbabwean banks face collapse

25 July 2014 | 9925 Views
Two more indigenous banks face collapse due to the persisting liquidity crisis' systemic risk inherent in the financial sector, a report released this week indicated.In a 2014 first half analy...

by Staff reporter

Econet dismiss Zimra investigations report as false and defamatory

25 July 2014 | 2307 Views
The Financial Gazette (24/7/2014) carried an article that makes false and defamatory allegations against Econet Wireless concerning the importation of base stations. The person referred to in the ar...

by Press release

Flyafrica fails to fly

25 July 2014 | 3481 Views
New local airline, Flyafrica.com failed to make its inaugural flight from Victoria Falls to Johannesburg  on Wednesday reportedly to fine tune operational logistics, it has emerged.Flyaf...

by Staff reporter

Good news Bulawayo, NRZ signs $460 million DBSA loan

24 July 2014 | 4834 Views
The National Railways of Zimbabwe (NRZ) has agreed to borrow $460 million from the Development Bank of Southern Africa to develop its unprofitable network that relies mainly on rolling stock acquired ...

by Reuters

'Zim banks have no capacity to fund mines,' says BAZ

24 July 2014 | 1518 Views
THE banking sector has no capacity to meet financial requirements for the mining industry due to the liquidity crunch facing the economy, the Bankers Association of Zimbabwe president, Sam Malaba, sai...

by Oliver Kazunga

Emirates A380 says 'Namaste Mumbai'

24 July 2014 | 2075 Views
HARARE - Emirates, which flies daily from Harare to Dubai via Lusaka, has commenced its first scheduled Airbus A380 service to India with a daily flight between Dubai and Mumbai.EK500 took off...

by Staff Reporter

Zimbabwe downgrades 2014 economic outlook

24 July 2014 | 1306 Views
The Zimbabwe government has halved it 2014 real GDP growth to 3.1 percent in line with other forecasts made by the World Bank and the IMF, from the 6.1 percent made during the 2014 national budget....

by Business reporter
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