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SADC advances plans to operationalise regional development fund
The Southern African Development Community (SADC) is making significant strides towards operationalising its Regional Development Fund (RDF), a financing mechanism aimed at fostering sustained economi...Published: 20 hrs ago | 20 | by Staff reporter
ZBC urged to build national consciousness
The recapitalisation of the Zimbabwe Broadcasting Corporation (ZBC) is essential for the national broadcaster to fulfill its mandate of fostering national consciousness and promoting heritage-based br...Published: 15 Dec 2024 at 09:13hrs | 130 | by Staff reporter
'ZSE left with two valuable counters'
The Zimbabwe Stock Exchange (ZSE) is witnessing a significant shift, with Delta Corporation Limited and Econet Wireless Zimbabwe now standing as the only major valuable counters on the bourse. Several...Published: 20 Nov 2024 at 07:03hrs | 191 | by Staff reporter
Zimbabwe unveils industrial growth blueprint for automotive sector
The Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP), a targeted economic manufacturing initiative, has outlined key strategies to boost domestic production of buses and trucks. Running from...Published: 30 Oct 2024 at 07:52hrs | 118 | by Staff reporter
South Africa is ruled by individuals who happen to wear robes
Apartheid was "legal". Jim Crow laws in the US were "legal". Colonialism was "legal". Even the Nazis were "legal". So, what does it mean to have the rule of law? And whose law is it anyway?In ...Published: 22 Oct 2024 at 10:38hrs | 644 | by Lindiwe Sisulu
BCC considers introduction of Tradable Municipal Bonds
The City of Bulawayo is exploring new ways to finance its critical infrastructure projects through a joint proposal from Financial Services Exchange (Private) Limited and Nedbank. The proposal aims to...Published: 20 Oct 2024 at 12:16hrs | 117 | by Staff reporter
Telecel Zimbabwe faces scandal over disappearance of generators
Telecel Zimbabwe, one of the country's three mobile telecommunications companies, is embroiled in a scandal following the alleged theft of 20 generators used to provide backup power to its network tow...Published: 13 Oct 2024 at 12:20hrs | 308 | by Staff reporter
South African Rand takes a hit
The rand and a number of South African stocks took a hit on Monday as investors moved away from purchasing riskier assets, and it became evident that the US may enter a recession.The rand was ...Published: 06 Aug 2024 at 09:12hrs | 1342 | by Staff reporter
Mthuli Ncube backs down on taxes
The Zimbabwean government has removed value-added tax (VAT) from selected meat products, reduced presumptive taxes for informal traders, and mandated that all government service fees be paid in local ...Published: 26 Jul 2024 at 06:39hrs | 1594 | by Staff reporter
Nigerian billionaire Zimbabwe deals falter amid capital problems
WITH the help of Zimbabwean authorities who supported him amass platinum, gold, lithium, iron ore, tin and some rare earth mineral concessions, it first appeared like he was going far.At some poin...Published: 28 May 2024 at 12:46hrs | 9 | by Staff reporter
NRZ, Chinese firm in US$500 million investment deal
THE National Railways of Zimbabwe (NRZ) is gaining momentum in its recapitalisation efforts, as it has signed a lucrative agreement with TransTech, a subsidiary of China Railway International Group (C...Published: 20 May 2024 at 09:24hrs | 87 | by Staff reporter
ZSE rebases bourse to reflect ZiG
THE Zimbabwe Stock Exchange (ZSE) is re-basing all its indices following the introduction of a new currency, Zimbabwe Gold (ZiG), last week.ZSE said all the ZSE indices would be re-based to 10...Published: 09 Apr 2024 at 06:22hrs | | by Staff reporter
TelOne mulls decommissioning copper cable infrastructure
THE country's landline telecoms provider, TelOne, says it will be decommissioning some of its copper cable infrastructure to stem rampant vandalism, which cost the firm US$1 million last year....Published: 09 Feb 2024 at 10:01hrs | | by Staff reporter
Foreign investors ditch Zimbabwe capital markets
FOREIGN investors continue to lower their interest on the local capital markets, with investor participation on annual value traded averaging 3%, due to policy inconsistency and inflation, leading res...Published: 30 Jan 2024 at 07:47hrs | 2 | by Staff reporter
Mnangagwa's govt dangles collateral-free loans to youths
GOVERNMENT on Tuesday unveiled a collateral-free loan facility targeting youths.The facility, to be administered by the country's first youth-centric EmpowerBank, was unveiled during the fifth...Published: 14 Dec 2023 at 03:55hrs | 4 | by Staff reporter
Modernisation of ZDF top priority
The recapitalisation and modernisation of the Zimbabwe Defence Forces is a Government commitment through research, development and learning from friendly nations, the Minister of Defence Oppah Muching...Published: 06 Dec 2023 at 05:03hrs | 12 | by Staff reporter
ZETDC calls for private investment in energy sector
The country's power utility, the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), has implored economic players across all sectors to invest in renewable energy to complement govern...Published: 28 Nov 2023 at 05:15hrs | 1 | by Staff reporter
Zimbabwe gold production slumps 15%
ZIMBABWE'S gold production fell 15 percent to 19,3 tonnes in the first eight months of the year partly due to lack of funding by the small-scale miners to modernize operations.According to dat...Published: 20 Sep 2023 at 06:25hrs | | by Staff reporter
New brooms at NRZ
THE National Railways of Zimbabwe (NRZ) has appointed Ainah Dube-Kaguru as new chief operations officer (COO) while Patrick Mwashita was appointed to the position of chief finance officer.The ...Published: 27 Jul 2023 at 06:38hrs | 2 | by Staff reporter
CDC seeks owners of unclaimed ZSE shares
Chengetedzai Depository Company (CDC) says it is seeking to identify the owners of millions of dollars worth of unclaimed shares held in its Central Securities Depository (CSD).CDC is a digita...Published: 26 Jul 2023 at 06:36hrs | | by Staff reporter
'NRZ is an economic enabler'
NATIONAL Railways of Zimbabwe (NRZ) general manager Respina Zinyanduko has called for the recapitalisation of the parastatal so that it plays its economic transformative role by providing cost-e...Published: 25 Jul 2023 at 06:45hrs | | by Staff reporter
NRZ gets US$115m loan to procure new locomotives, wagons
A NEW era is beckoning for the National Railways of Zimbabwe (NRZ), which is expected to tap into a US$115 million line of credit negotiated by the Government towards procurement of new locomotives an...Published: 25 Jul 2023 at 06:39hrs | 1 | by Staff reporter
Nigerian billionaire's US$1 billion Zimbabwean mining deals stall
NIGERIAN oil and gas billionaire Benedict Peters' massive investment plans to shell out over US$1 billion into a local platinum mining project and more into lithium, iron ore, tin, gold and rare earth...Published: 16 Jul 2023 at 13:54hrs | 14 | by Staff reporter
Unifreight eyes cross-border business
LISTED transport and logistics firm Unifreight Africa Limited has revealed plans to diversify and de-risk the business by actively pursuing cross-border and contract haulage.The company, which...Published: 12 Jul 2023 at 08:18hrs | | by Staff reporter
TelOne chokes under ZWL$20.5 billion govt debt
TelOne is struggling to recover about ZWL$20.5bn in unpaid obligations by the government which has affected the viability of the State-owned fixed telecommunications network operator.The gover...Published: 06 Jul 2023 at 17:53hrs | 1 | by Staff reporter
TelOne suffers US$7,4m loss
SATE-OWNED telecom firm, TelOne, says government's delay in paying its debt has caused a loss of US$7,4 million on its balance sheet as the local currency continues to depreciate.The Zimdollar...Published: 30 Jun 2023 at 14:31hrs | | by Staff reporter
Zimbabwe pens US$81,2m NRZ wagons, locomotives deal
THERE is a ray of light for the National Railways of Zimbabwe (NRZ), after Government signed a US$81,2 million deal with India for the procurement of 315 wagons and nine locomotives.The potentiall...Published: 16 Jun 2023 at 07:48hrs | | by Staff reporter
SA steel giant expands imports from Hwange
ARCELORMITTAL of South Africa, one of the world's largest steel producers which imports 70 percent of coke produced in Zimbabwe and manufactures steel used in vehicle manufacturing, construction, rail...Published: 09 Jun 2023 at 06:34hrs | 1 | by Staff reporter
Zimbabwe's land audit reaches home stretch
THE final phase of the Comprehensive National Agricultural Land Audit Programme is set to be completed this month, with the Zimbabwe Land Commission (ZLC) now finalising inspection of farms in three o...Published: 04 Jun 2023 at 08:28hrs | | by Staff reporter
Zimbabwean companies descend on the London Stock Exchange
Zimbabwean companies and corporate executives from home and in the diaspora will tomorrow descend on the London Stock Exchange (LSE) - one of the world's biggest bourses in the world with a market cap...Published: 19 Apr 2023 at 20:39hrs | 1 | by Staff reporter
Zimdollar plunges 53%
UNCERTAINTY over Zimbabwe's growth prospects deepened this week, after a leading advisory said its currency had shed 58% of its value in the first quarter.It was a continuation of negative dev...Published: 14 Apr 2023 at 19:48hrs | 1 | by Staff reporter
IDBZ seeks US$1,5bn for infrastructure gaps
THE Infrastructure Development Bank of Zimbabwe (IDBZ) has revealed that it requires US$1,5 billion funding to plug the country's "vast" infrastructure deficit.The announcement comes as the go...Published: 03 Apr 2023 at 06:30hrs | | by Staff reporter
Massive staff exodus hits Mutare
MASSIVE staff exodus has hit Mutare City Council's fire and health departments as employees seek greener pastures due to poor remuneration and working conditions.In her presentation to the res...Published: 03 Apr 2023 at 06:28hrs | | by Staff reporter
Mangudya warns against forex loans
In a situation where there is little foreign currency in the market despite the banking sector having US$2,5 billion in nostro deposits, Reserve Bank of Zimbabwe governor John Mangudya has warned agai...Published: 12 Mar 2023 at 06:37hrs | 5 | by Staff Reporter
Turkish firm makes headway in NRZ deal
THE National Railways of Zimbabwe (NRZ) says Turkish investor Yapi Merkezi, which plans to recapitalise and modernise its railway system, has completed a feasibility study on the project.In 20...Published: 19 Feb 2023 at 17:35hrs | 13 | by Staff reporter
Appointment of 81 year old Col Dube to NRZ board clarified
THERE is nothing irregular about the appointment of former Cabinet Minister and freedom fighter Colonel (Retired) Tshinga Dube to the board of the National Railways of Zimbabwe (NRZ) since this was ju...Published: 30 Jan 2023 at 07:10hrs | | by Staff reporter
Econet among Africa's top 250 companies
Econet Wireless Zimbabwe and EcoCash Holdings Zimbabwe Limited have been named among Africa's top 250 companies by the African Business magazine.Every Year the African Business top 2...Published: 17 Jan 2023 at 16:21hrs | | by Staff reporter
Zimbabwean tech company acquires SA, Mozambique and Botswana IT firms
Zimbabwe's Tano Digital Solutions Group has acquired control of South African-headquartered IT company, Altron Botswana and Altron Mozambique.The move has set the information technology commun...Published: 06 Jan 2023 at 18:08hrs | | by Staff reporter
Zim technology company in ambitions regional growth
Tano Digital Solutions Group, a fast growing Zimbabwean new-generation technology company has acquired Altron Botswana and Mozambique as part of its growth strategy that will likely see the enterprise...Published: 04 Jan 2023 at 18:42hrs | 18 | by Simbarashe Sithole
Econet Wireless stung by more FOREX losses
Econet, Zimbabwe's largest telecommunications company, has reported heavy foreign exchange losses throughout the year.In its latest half-year report for the period ended August 31, 2022, Econe...Published: 19 Dec 2022 at 21:12hrs | 4 | by Mzingaye Nxumalo
Zimbabwe's 24 500km road network to be revamped by 2025
THIS week Zimbabwe Independent (ZI) business reporter, Freeman Makopa caught up with Transport and Infrastructural Development minister Felix Mhona (FM) to discuss updates in the progress of crucial i...Published: 09 Dec 2022 at 17:55hrs | 6 | by Staff reporter
'More Zimbabwean made products occupying shelf space'
LOCALLY produced goods have increased shelf space occupancy in shops to 80 percent this year from 55 percent last year as domestic businesses continue to ramp up output in response to supportive Gover...Published: 06 Dec 2022 at 05:00hrs | | by Staff reporter
Mnangagwa's govt appeases war vets with $4.6 billion
IN a bid to appease war veterans, who play a crucial role in Zanu-PF election campaigns, the government has set aside ZW$4.6 billion to invest in farms, mining and tourism.Finance and Economic...Published: 04 Dec 2022 at 09:09hrs | 2 | by Staff reporter
$6 billion for new Zupco buses
Government will spend $6 billion to recapitalise Zupco next year in a development set to enhance service delivery and modernise the mass public transport system.Presenting the 2023 National Bu...Published: 04 Dec 2022 at 08:05hrs | | by Staff reporter
US$1,5m biscuit plant opens in Bulawayo
AGRO-PROCESSING factory, Flynote Investments Private Limited, has channelled more than US$1,5 million towards the establishment of new biscuit and stockfeed manufacturing units.Flynote Investm...Published: 30 Nov 2022 at 05:03hrs | | by Staff reporter
Mnangagwa invites African finance houses for talks
ZIMBABWE is ready to tap into available financial services provided by the Africa Export and Import Bank (Afreximbank) and the African Development Bank (AfDB) to bolster its industrial transformation ...Published: 28 Nov 2022 at 04:54hrs | | by Staff reporter
Govt to recruit 7 000 teachers
The GOVERNMENT will recruit an additional 7 000 teachers next year to enhance the delivery of quality education, with special focus on infant education.In the 2023 National Budget tabled in Pa...Published: 27 Nov 2022 at 14:51hrs | | by Staff reporter
Mthuli Ncube pampers security sector
THE security sector, which includes the Office of the President and Cabinet (OPC), Defence and War Veterans Affairs and the Home Affairs ministries were some of the departments that got the largest ch...Published: 25 Nov 2022 at 05:15hrs | 1 | by Staff reporter
ArcelorMittal injects millions into Zimbabwe
ARCELORMITTAL, one of the world's largest steel producers which imports 70 percent of coke produced in Zimbabwe, is set to build coke oven batteries as part of the beneficiation and value addition pro...Published: 17 Nov 2022 at 05:02hrs | 12 | by Staff reporter
RBZ tells Time Bank to reopen 'but don't take deposits'
TIME Bank, one of a dozen domestic financial institutions that collapsed at the height of Zimbabwe's banking crisis between 2004 and 2008, was yesterday given the nod to re-enter the market under rest...Published: 19 Oct 2022 at 06:01hrs | | by Staff reporter
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