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New free-to-air satellite service Imperial TV launched
A new free-to-air satellite TV service Imperial TV HD has been launched on Eutelsat 7B at 7° E available in 83 countries with an estimated combined viewership of 53 million. Imperial TV's bou...Published: 01 Dec 2022 at 15:52hrs | 79 | by Mandla Ndlovu
Zimra is now owed over $33 billion as defaults rise
THE Zimbabwe Revenue Authority (Zimra) has reported a 283,65% increase in debt to $33,25 billion in 2021 owing mostly to exporting firms indicating that the current tax regime remains too high for com...Published: 24 Jul 2022 at 10:01hrs | 6 | by Staff reporter
Delta subsidiaries in revenue fix
BEVERAGES manufacturer Delta Corporation Limited says the volatility of the exchange rate-driven inflation is pressuring its operational costs and hurting the revenue generation capabilities of its fo...Published: 17 Jun 2022 at 08:55hrs | 10 | by Staff reporter
Zesa needs US$300m to address backlog
ZESA Holdings has a backlog of 305 000 domestic customers who need to have electricity connected to their homes, but requires a whooping US$300 million to connect all of them, a senior official has sa...Published: 06 Jun 2022 at 09:59hrs | | by Staff Reporter
Tagwirei linked companies cited in US$49m privatisation deal
AS Treasury maintains a tight lid over the identity of gold producers who snapped 60% shareholding in Fidelity Printers and Refiners (FPR), emerging details show that Kuvimba Mining House, Better Bran...Published: 20 Aug 2021 at 07:22hrs | 12 | by Staff reporter
Delta lager volumes up 48%
Delta Corporation reported a buoyant Christmas quarter with the key lager beer volumes rising 48% against the comparable year ago period, due to positives arising from the payment of end of year bonus...Published: 20 Jan 2021 at 17:38hrs | 5 | by Staff reporter
Edgars Stores ups interest rates
Edgars Stores Limited says it is in the process of increasing interest rates charged on customer accounts due to inflation and increased cost of borrowing.In a trading update at the company's ...Published: 14 Jul 2019 at 14:55hrs | | by Staff reporter
Telecom firms bemoan high service costs
Zimbabwean telecommunication companies say the costs of delivering services are still excessively high despite a recent tariff hike which saw data and voice charges go up by as much as 150%.Te...Published: 09 Apr 2019 at 07:38hrs | | by Staff reporter
Zimbabwean mobile network operators, Potraz on collision course over pricing
Zimbabwean mobile network operators (MNOs) are up in arms with the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) over the ICT industry regulator's alleged intransigence o...Published: 27 Mar 2019 at 15:37hrs | | by Staff reporter
'Zimbabwe telecoms investment costs drop 35%'
ZIMBABWE's infrastructure sharing model has yielded up to 35 percent drop in the cost of investment in the information and telecommunications sector, which will largely benefit ordinary consumers and ...Published: 10 Dec 2018 at 05:38hrs | | by Staff reporter
Mthuli Ncube's budget: The good, bad and ugly
In September, while meeting fund managers in New York, Finance minister Mthuli Ncube said what the economy needed was a "big bang", a shock to the system. A week later, he brought that big bang; on th...Published: 26 Nov 2018 at 06:08hrs | | by NewZWire
RioZim plans legal action against RBZ
Diversified resources group RioZim Limited, is planning legal action against the Reserve Bank of Zimbabwe (RBZ) over failure to meet its obligation to avail foreign currency saying this is choking its...Published: 10 Oct 2018 at 06:20hrs | | by Staff reporter
POTRAZ gets it right for a change
LAST week, the Postal and Telecommunications Regulatory Authority (POTRAZ) launched stakeholder consultations on licensing of Virtual Network Operators (VNOs).The consultations close at the en...Published: 21 Apr 2017 at 12:39hrs | | by Robert Ndlovu
What do you think of this ZRP car?
This photograph was shared on Twitter by Herr Makoni [@tumayimak] with caption: "surely CAPEX can be better spent by ZRP?? "Another Twitter user @tonytendai responded saying "with these pothol...Published: 21 Oct 2015 at 12:17hrs | | by Staff Reporter
iWayAfrica offers global bandwidth to customers in Zimbabwe
iWayAfrica, a leading ISP in Zimbabwe, and part of the Gondwana Group of ISPs, is first to offer managed, global bandwidth as a service to corporate customers. The cloud-based service is enabled by Di...Published: 08 Dec 2014 at 10:29hrs | 3297 | by Staff reporter
Econet shortlisted for top Africa gong
ECONET Wireless Zimbabwe and its France-based partner Astellia have been shortlisted for the ‘Best cost efficiency solution for Africa' at the Africa Com Awards set for Cape Town South ...Published: 13 Oct 2013 at 17:53hrs | | by Business Reporter
Masimba Holdings engages govt on products movement in the region
Masimba Holdings Limited CEO Canada Malunga told an analyst briefing yesterday that the Group is engaging the government on products movement in the region as the group is facing stiff competition fro...Published: 27 Sep 2013 at 10:24hrs | | by Staff reporter
Econet settles $85 million of the $137.5 million licence renewal fees
Econet Wireless Zimbabwe's licence was renewed and licence period extended to 20 years while the licence renewal fee was set at $137.5 million, group CEO Douglas Mboweni told an analyst briefing yeste...Published: 31 May 2013 at 10:45hrs | 4246 | by Business reporter
Zimplats preferred ZSE listing to indigenisation
Zimplats expressed the group's interest to list on the ZSE thus localizing the firm through the bourse so that ordinary Zimbabweans may get the chance to participate, CEO Alexander Mhembere told an a...Published: 29 May 2013 at 12:24hrs | | by Business reporter
Lafarge records static revenue performance
Lafarge's performance in the first 4 months was unchanged with revenue of $21.7 million, almost the same figure posted in the comparative period, MD Jonathan Shoniwa told the AGM this morning.&nbs...Published: 23 May 2013 at 12:48hrs | | by Business reporter
Dairibord rationalising its operations to make the group leaner
Dairibord will focus on rationalisation of operations, group chief executive Anthony Mandiwanza told an analyst briefing yesterday."The rationalisation of operations which we intend to undert...Published: 22 Mar 2013 at 07:04hrs | | by Business reporter
Hunyani reports muted performance
Hunyani reported a muted financial year ended 2012 performance as overall group volumes fell by 10% which was attributed to disposal of non-core operations and weak domestic demand. Revenue from conti...Published: 30 Jan 2013 at 09:49hrs | | by Business reporter
Padenga completes move into alligator business
Padenga successfully concluded an acquisition of a 50% stake in an alligator farming business as another option to diversify its profits, group CE Gary Sharp told an analyst briefing on Friday.&nb...Published: 24 Sep 2012 at 07:10hrs | 3236 | by Business reporter
Colcom's expects revenue to rise by 20 percent
Colcom has projected its revenues to increase by 20% in the current financial year to June 2013 while the pretax margin is forecast to ease by a percentage point to 12.7%, group CEO Theo Kumalo told a...Published: 06 Sep 2012 at 15:04hrs | 2204 | by Business reporter
Innscor's expansion drive to continue
Innscor Africa Limited is targeting to continue with its expansion drive for the coming year, Group CE Tom Brown told analysts this morning. "We will continue to pursue the expansion driv...Published: 06 Sep 2012 at 12:02hrs | | by Business reporter
Lafarge targeting revenue of $70 million
Lafarge upgraded its full year revenue to December 2012 to $70 million from the $62 million target which the company had initially set in May, MD Jonathan Shoniwa told a press briefing yesterday....Published: 30 Aug 2012 at 06:05hrs | | by Business reporter
Lafarge revenue grows 35.2 percent in quarter 1
The company's 58th AGM was held yesterday, Thursday, 17 May 2012 and all resolutions tabled were passed without amendment. In a trading update, management reported that revenue for Q1 2012 gre...Published: 18 May 2012 at 06:20hrs | | by Nare Msupatsila
Econet finalising a syndicated $307 million loan facility
HARARE - Econet is finalising a syndicated $307 million loan facility with a group of international banks, part of which will be used to restructure debt, management told analysts yesterday. ...Published: 25 Apr 2012 at 13:03hrs | 8 | by Business reporter
Implications of Zimbabwe's office of president becoming vacant
A torrent of rumours that President Robert Mugabe is on his deathbed in a Singapore hospital has reignited the always combustible drama of who will succeed the 88-year-old liberation hero.Gi...Published: 11 Apr 2012 at 09:29hrs | | by Yvonne Mhango and Nothando Ndebele
Ariston Holdings' rights issue approved
At an EGM held yesterday, 28 February 2012, Ariston shareholders approved an $8 million rights issue, which management expects to turnaround the group’s fortune...Published: 29 Feb 2012 at 09:39hrs | 1012 | by Business reporter
Cabinet to approach CABS to relax Dimaf lending conditions
STRUGGLING businesses in Bulawayo could get a reprieve after it emerged that Cabinet is considering approaching CABS to relax conditions to access $40 million Distressed and Marginalised Areas Fund (D...Published: 16 Feb 2012 at 06:50hrs | | by Alois Sibanda
Econet has contracted Astellia for optimisation of network Quality of service
Press reports indicate that Econet has contracted Astellia, a leading provider of monitoring solutions for the optimisation of mobile network Quality of service (QoS) for its network optimization. ...Published: 10 Nov 2011 at 05:55hrs | | by Mafu Sithabile
Delta Beverages posts strong interim results
Delta posted strong interim results for 2012 registering overall beverage sales volume growth of 23% to 3.4m hectalitres, driven by growth in lager (+30% to 0.9m hl), sparkling beverages (+33% to 0.6...Published: 10 Nov 2011 at 07:49hrs | | by Moyo Roy
Econet reports a robust set of interim results
Econet reported a robust set of financials showing attributable earnings of $74.3 million, up 15% year on year. The solid performance was driven by a 25% year on year subscriber growth, improved net w...Published: 04 Oct 2011 at 06:29hrs | | by Business reporter
National Foods leveraging on the economy's recovery
Depressed cereal production in the country has resulted in local manufacturers importing their raw materials, at landed prices which at some instances have caused the finished goods to be priced highe...Published: 29 Sep 2011 at 13:06hrs | | by Business reporter
Robust performance from Innscor
Innscor posted a strong set of its financial year 2011 results. Attributable earnings grew 74% to $26.1 million in line with our expectations of $25.9 million.Strong ca...Published: 28 Sep 2011 at 13:09hrs | | by Business reporter
Radar reported a depressed set of results
Despite the satisfactory performance by Border Timbers, Radar reported a depressed set of results, due to a myriad of problems at McDonald Bricks and UBM. Turnover at $37.1 million was up 49% against ...Published: 27 Sep 2011 at 09:34hrs | | by Business reporter
Border Timbers release a fair set of final results
A fair set of results from Border in what management say was an impressive performance although sales volumes were not as high as budgeted. Turnover at $21.9 million was up 59% from prior period, wit...Published: 27 Sep 2011 at 09:20hrs | | by Business reporter
Hippo's 55th AGM passes all tabled resolutions
Hippo's 55th AGM was held yesterday, Monday 22 September 2011, and all resolutions tabled were passed without amendments. Management also gave a detailed trading update. The company is in line to achi...Published: 13 Sep 2011 at 06:34hrs | | by Business reporter
Natfoods records a good performance
Natfoods recorded a good performance for FY 2011, although slightly off our forecasts due to pressure on gross margins. The group sacrificed margins to maintain valuable market share. Total volume sol...Published: 08 Sep 2011 at 09:05hrs | | by Business reporter
PGI posts lukeworm interim results
PGI posted a lukewarm set of results for the interim period, showing an attributable loss of $2.9 million. Due to change in year end prior year comparatives are not applicable. The increased activity ...Published: 26 Aug 2011 at 12:14hrs | | by Imara
City Hotels supports RTG revenue growth
Revenue for the interim period amounted to $13.8 million up 32% from the prior period mainly supported by the city hotels which contributed a hefty 74%. The revenue split was 50%:50% between room reve...Published: 26 Aug 2011 at 12:11hrs | | by Imara
Zimbabwe Dairibord posted a solid set of interim results
Dairibord posted a solid set of results for the interim period to 30 June 2011, showing a 27% growth in total sales volumes. The volume growth was buoyed by growth in liquid milks (+40%), foods (+42%)...Published: 16 Aug 2011 at 12:40hrs | | by .
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