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Zimra tax audit blitz alarms Zimbabwe business
The Zimbabwe National Chamber of Commerce (ZNCC) has raised concerns over the Zimbabwe Revenue Authority's (Zimra) intensified audit regime, warning that aggressive tax enforcement is placing undue co...Published: 24 May 2025 at 10:59hrs | 236 | by Staff reporter
Bringing International Football Back to Zimbabwe
Lieutenant General (Rtd) Anselem Nhamo Sanyatwe Minister of Sport, Recreation, Arts and Culture Harare Zimbabwe Subject: Bringing International Foo...Published: 18 May 2025 at 17:16hrs | 644 | by Engineer Jacob Kudzayi Mutisi
Innscor facilitates cleft lip, palate surgery
Innscor Africa Limited, through its health subsidiary Providence Health and Wellness, has partnered with the Global Cleft and Cranio-Facial Foundation to provide life-changing cleft lip and palate sur...Published: 05 May 2025 at 15:58hrs | 71 | by Staff reporter
Innscor engages govt over tax
Innscor Africa Limited has raised concerns over high taxes and their detrimental impact on the company's profitability, warning that the escalating cost-push pressures are putting a strain on its fina...Published: 18 Nov 2024 at 15:06hrs | 196 | by Staff reporter
Innscor booted out of Profeeds
Innscor Africa Limited has been ordered to divest from Profeeds after the Supreme Court ruled that the merger of Profeeds and National Foods created a near monopoly in the stockfeed industry.S...Published: 10 Oct 2024 at 13:11hrs | 2543 | by Staff reporter
Human rights activist engages CCZ over INNSCOR GMOs saga - CCZ responds to her complaint
The human rights activist Abigale Mupambi who joined the ongoing controversy involving Pan-Africanist Rutendo Matinyarare, and the Innscor Group has taken since anged the Consumer Council of Zimbabwe ...Published: 11 Sep 2024 at 15:53hrs | 3201 | by Stephen Jakes
Zimra, Nampak clash over ZW$27bn penalty
Nampak Zimbabwe, a major industrial packaging manufacturer, is contesting hefty penalties imposed by the Zimbabwe Revenue Authority (Zimra), amounting to ZW$26.7 billion. The company attributes this d...Published: 30 Jun 2024 at 18:31hrs | 10 | by Staff reporter
Bulawayo attracts US$135m investment
BULAWAYO has to date attracted investment worth US$135 million in the manufacturing sector, which has seen the creation of more than 33 000 direct jobs, with the Government revealing that the city is ...Published: 19 May 2024 at 10:49hrs | 25 | by Staff reporter
Mthulisi Ncube exempts VAT on key basic commodities
TREASURY has gazetted the suspension of Value Added Tax (VAT) on selected basic commodities with effect from today as part of Government measures to tame price increases while boosting consumer purcha...Published: 01 Feb 2024 at 04:57hrs | 16 | by Staff reporter
Chigogwana retires
Access Finance Group, whose strategic network of operations includes Zimbabwe, has appointed Mr Salim Eceolaza as the new chief executive.Mr Eceolaza is succeeding co-founder Mr Raymond Chigog...Published: 20 Sep 2023 at 06:25hrs | 4 | by Staff reporter
Innscor splashes US$109m on expansion projects
INNSCOR Africa Limited has spent about US$109 million in expansion projects in the country, including building new stockfeed mills and a state-of-the-art bakery in Bulawayo.Innscor group chief...Published: 18 Jun 2023 at 08:41hrs | 1 | by Staff reporter
Zimbabwe to woo capital markets investors in London
ZIMBABWEAN government officials and corporate leaders are gearing for a major capital markets conference in London, United Kingdom, during the last week of next month to mobilise private capital to fi...Published: 08 Mar 2023 at 05:27hrs | | by Staff reporter
Zimbabwean children denied schooling in South Africa
Chicken Inn loses trademark row with Chicken SliceINNSCOR Africa Limited's bid to interdict its competitor, Slice Distributors (Pvt) Ltd, also trading as Chicken Slice, for trademark infringement ...Published: 22 Jan 2023 at 13:05hrs | 4 | by Staff reporter
Innscor fined US$9m, ordered to divest from Probrands
THE Competition and Tariff Commission (CTC) imposed a fine of US$9,1 million on Innscor Africa Limited (Innscor) for consummating the merger of one of its subsidiaries without the Commission's approva...Published: 26 Jun 2022 at 12:26hrs | 21 | by Staff reporter
Fired Innscor employee to receive $43k compensation
BULAWAYO Labour Court judge president Mercy Moya-Matshanga last Friday ordered Innscor Africa Limited and Innscor Africa Bread Company Zimbabwe to pay the company's former southern region sales and ma...Published: 16 Feb 2022 at 05:37hrs | 9 | by Staff reporter
Mnangagwa's oligarchs: The heirs of Cecil Rhodes
As Zimbabwe's economy has spiralled down, with one million economic refugees in South Africa alone and ordinary people facing shortages of food, fuel, medicine and shelter, there is a class of people ...Published: 08 Feb 2022 at 18:29hrs | 20 | by Phillip van Niekerk and a Zim-based Research Team
Innscor ex-manager case judgment reserved indefinitely
Bulawayo Labour Court judge Mercy Moya-Matshanga on Thursday reserved judgment for the second time in the case of Innscor Africa Limited and Innscor Africa Bread Company Zimbabwe former southern regio...Published: 24 Jan 2022 at 05:28hrs | 1 | by Staff reporter
Innscor shells US$70m on expansion
ZIMBABWE Stock Exchange-listed blue-chip, Innscor Africa Limited, has injected about US$70 million to consolidate its expansion operations, according to the group's chairperson, Addington Chinake....Published: 23 Nov 2021 at 05:58hrs | 13 | by Staff reporter
7 investors take SecZim to High Court
SEVEN investors have filed an urgent chamber application at the High Court for stay of implementation of the Securities and Exchange Commission (SecZim) directive on migration of registers of shares b...Published: 28 Oct 2021 at 19:09hrs | 10 | by Staff Reporter
Zimbabwe blue chips shine in Africa
AT least five of Zimbabwe's biggest stock exchange-listed firms have made it to the list of Africa's best performing companies, defying storms stemming out of a two year old economic crisis, which was...Published: 03 Sep 2021 at 06:56hrs | 13 | by Staff reporter
Fastjet customers to pay for flight tickets at Chicken Inn outlets
Value airline fastjet and Simbisa Brands Limited have announced a joint payment option channel through the latter's flagship Chicken Inn restaurants across Zimbabwe. The new payment option all...Published: 07 Jul 2021 at 10:59hrs | | by Staff reporter
BAT rated best ZSE counter
BRITISH American Tobacco (BAT ) Zimbabwe has been rated the top counter on both the Zimbabwe Stock Exchange (ZSE)'s top 10 and 15 indexes for the second quarter of 2021.BAT's rating was announ...Published: 12 Apr 2021 at 07:08hrs | 11 | by Staff reporter
'Innscor revenue to rise 395%'
ADVISORY firm IH Securities has projected a 395% rise in revenue at the Zimbabwe Stock Exchange-listed conglomerate, Innscor Africa Limited, during the year to June 30 2021, underpinned by high consum...Published: 25 Mar 2021 at 05:49hrs | | by Staff reporter
Mthuli Ncube glosses over crisis?
"WE are not shrinking," said Finance minister Mthuli Ncube, while giving an economic update at a press conference last Monday.The minister said that while countries such as the United States, ...Published: 11 Oct 2020 at 10:52hrs | 1 | by Staff reporter
Mupfumira's arrest and Zanu PF power politics
The late former Prime Minister Morgan Tsvangirai, responding to Zanu PF threats to crack down hard on corruption, once said: "Everyone in that party would be in jail if we become serious as a country ...Published: 28 Jul 2019 at 09:26hrs | 1 | by Zimlive
Econet boss lands top UN post
United Nations Secretary-General António Guterres has appointed Econet Wireless chief operating officer Fayaz King as Assistant Secretary General and will serve at the United Nations Children's Fund ...Published: 26 Jul 2019 at 09:01hrs | 1 | by Staff reporter
Zimbabwe retailers in major price climbdown
THE price hike madness that had manifested in the country in recent weeks appears to be dissipating with some of the major players in the economy starting to see reason following the gazetting of Stat...Published: 08 Jul 2019 at 07:51hrs | | by Staff reporter
Zimbabwe runs out of wheat
Zimbabwe has run out of wheat and bakeries in the country may soon not be able to produce bread.One of the leading bakeries has suspended operations and other major players are holding their b...Published: 16 Jun 2019 at 09:41hrs | 2 | by Staff reporter
Alternative currencies still legal tender in Zimbabwe
Legal think tank Veritas says the use of alternative currencies remains legal as Statutory Instruments (SIs) 32 or 33 of 2019 do not prohibit their use for pricing, recording debts, accounting and set...Published: 26 Mar 2019 at 06:18hrs | | by Staff reporter
Bread price goes up...again
Innscor Africa Limited T/A Bakers Inn Bakeries has announced that starting from Wednesday 6 March the recommended would be $2.70 up from $2.50.Zimbabwe has been hit by the acute wheat shortage...Published: 05 Mar 2019 at 18:48hrs | | by Mandla Ndlovu
Innscor reports good performance in all business portfolios
INNSCOR Africa Limited posted a $48,6 million profit after tax in the full-year ended June 2018 from $34,4 million in prior period, as all its business portfolios reported good performance.The...Published: 01 Oct 2018 at 07:07hrs | | by Staff reporter
Innscor considers share buy-back
Innscor Africa Limited directors seek shareholders' approval to purchase its own shares listed on the Zimbabwe Stock Exchange at the next Annual General Meeting (AGM) next month.Innscor will h...Published: 14 Nov 2017 at 16:27hrs | 2 | by Takudzwa Chiwara
Haefelis Bulawayo upgrade deferred
THE completion of upgrade works at Simbisa Foods' Haefelis outlet in Bulawayo has been deferred to September. The renovations started in March and were initially expected to take six weeks und...Published: 20 Jun 2016 at 06:57hrs | 1 | by Bianca Mlilo
Innscor, Zimplats fingered in Panama Papers
Another high-profile Zimbabwean company has been named in the Panama Papers for payments and other transactions to directors which are viewed as illegal.The Panama Papers is a tranche of milli...Published: 10 May 2016 at 09:48hrs | 2 | by Staff reporter
Innscor will not pay CTC penalties
Innscor Africa Limited has been absolved from paying $2,5 million in penalties imposed by the Competition and Tariff Commission over the food group's merger with the agro-processor, National Food...Published: 31 Jul 2015 at 07:03hrs | 1 | by Staff reporter
Padenga Holdings securities to be dematerialized on 1 July 2015
Pandenga Holdings Limited's securities will be dematerialized and will be cleared and settled on the Central Security Depository (CSD), in an electronic form with effect from Wednesday 1 July 201...Published: 16 Jun 2015 at 09:40hrs | | by Ndou Paul
Innscor in bed with Mujuru
Innscor Africa Limited has created a slush fund which is channelled through businessman and former Zanu-pf Mashonaland East provincial chairperson Ray Kaukonde to fund the activities of the Mujuru...Published: 14 Apr 2015 at 07:31hrs | | by Staff reporter
Masiyiwa flying Zimbabwean flag high
Although Zimbabwe is in the economic doldrums, a few distinguished and enterprising citizens continue to make waves on the continent in the world of business, and management.These feted Zimbab...Published: 08 Feb 2015 at 15:35hrs | 1 | by Staff reporter
Black Zimbabwean appointed Innscor Chairman
Innscor Africa Limited has appointed commercial lawyer Addington Chinake as its new Chairman to replace David Morgan. While the ZSE listed conglomerate was reportedly finalising the formal...Published: 06 Jan 2015 at 07:32hrs | | by Staff reporter
Innscor property attached for violating the Competition Act
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...Published: 10 Oct 2014 at 19:13hrs | 2 | by Staff reporter
ABC in $38M bargain
ZIMBABWE Stock Exchange (ZSE) listed financial concern, ABC, stole the limelight from index movement towards turnover after striking a special bargain deal worth US$38,05million derived from 46,407,48...Published: 24 Aug 2014 at 10:20hrs | | by Staff Reporter
Econet under investigation
THE Competition and Tariff and Commission (CTC) has started gathering information which may result in a fully-fledged investigation on alleged uncompetitive behaviour by Econet Wireless.CTC ha...Published: 13 Jun 2014 at 11:07hrs | | by Tinashe Makichi
Innscor shareholders approve the company's empowerment plan
Innscor Africa Limited's shareholders approved the company's Indigenisation Implementation Plan at an EGM held earlier today.Group Chief Executive John Koumides told the meeting that in order ...Published: 24 Jan 2014 at 11:35hrs | | by zfn
Innscor could be fined to $60 million
ZIMBABWE Stock Exchange-listed Innscor Africa was found guilty of not following proper regulatory procedures in its acquisition of a majority stake in National Foods Limited (NatFoods) and could be l...Published: 16 Dec 2013 at 14:32hrs | 2 | by Staff Reporter
Shoniwa takes over from Masunda at Lafarge
Lafarge Cement Zimbabwe last week announced that Johnathan Shoniwa, currently the managing director, will take over from Muchadeyi Ashton Masunda at the end of the year.Bulawayo born Masunda,...Published: 02 Dec 2013 at 03:50hrs | | by Staff reporter
ZSE loses $1 billion
Zimbabwe's equities market has lost nearly $1 billion in one week following the controversial re-election of President Robert Mugabe.The southern African country's bourse - which had a market...Published: 12 Aug 2013 at 09:19hrs | 1 | by Business reporter
Spar Arundel evicted
INNSCOR Africa Limited has been evicted from its Arundel Spar supermarket premises after allegedly failing to abide by terms of the lease agreement.The diversified manufacturing and retail con...Published: 08 Jun 2013 at 05:26hrs | | by Business Reporter
Innscor revenue projected to top $345 million
FINANCIAL analysts Renaissance Capital have projected Innscor Africa Limited's revenue to increase by 8 percent to US$345 million in the first six months of its financial period to December 31, 2012....Published: 05 Mar 2013 at 04:39hrs | 2 | 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
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