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SA hair salon used as conduit in Natfoods cash scam
A SOUTH AFRICAN hair salon was reportedly used as a conduit to transfer part of the money that was siphoned from National Foods.Scammers hacked into the company's computer system and accessed ...Published: 13 hrs ago | 136 | by Staff reporter
Scammers bleed Natfoods US$6m
IN what could be one of the biggest cybercrimes ever reported in the country, National Foods, a local manufacturer and marketer of food products, lost over US$6 million to criminals who hacked into it...Published: 21 May 2023 at 08:03hrs | 174 | 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 | 612 | by Staff reporter
2 cops steal US$158,000 from suspect
TWO police officers appeared before a Harare magistrate on Wednesday facing criminal abuse of office charges after they allegedly stole US$158 000 from a suspect.Addmore Musiza (34) and Tafara...Published: 07 Apr 2023 at 09:13hrs | 210 | by Staff reporter
Police detectives share US$160,000 theft loot
Two Criminal Investigation Department (CID) police officers have landed in the dock on allegations of sharing US$160,000 they had recovered while investigating a theft case.The two, Addmore Mu...Published: 05 Apr 2023 at 18:20hrs | 1599 | by Staff reporter
National Foods hires Sikandar Raza as brand ambassador
National Foods has engaged Chevron's star, Sikandar Raza as the brand ambassador for their new range of cereal products.The Pearlenta Nutri-Active range comprises a wide array of breakfast cer...Published: 04 Feb 2023 at 06:20hrs | 371 | by Staff reporter
Chiwenga warns Innscor
A TENSE meeting between President Emmerson Mnangagwa and Innscor Africa shareholders over allegations of fuelling currency volatilities rocking the market had a chilling effect after Vice-President Co...Published: 12 Aug 2022 at 20:21hrs | 1046 | 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 | 9366 | by Staff reporter
Zanu-PF MP demands investigation of shops shunning local currency
A-Zanu-PF legislator has asked Parliament to investigate wholesalers that are shunning local currency in preference of the United States dollar.Rushinga MP Tendai Nyabani (Zanu-PF) raised the ...Published: 23 Jun 2022 at 06:50hrs | 586 | by Staff reporter
Foreign banks troop to Zimbabwe forex auction
UNITED States-based multinational investment outfit JP Morgan was among global lenders that repatriated a combined US$30 million through the Reserve Bank of Zimbabwe (RBZ)'s forex auction system by th...Published: 13 May 2022 at 19:10hrs | 702 | by Staff reporter
Govt throws its weight behind Buy Zimbabwe
GOVERNMENT will complement the efforts by Buy Zimbabwe to promote growth and competitiveness in the country's local industry, Finance minister Mthuli Ncube has said.Speaking at the 11th editio...Published: 11 Apr 2022 at 06:35hrs | 338 | by Staff reporter
6 injured in traffic accident along Seke Road
At least six people were seriously injured in a road traffic accident that occurred this morning along Seke Road.Witnesses said the accident happened just after Maruta Shopping Centre at aroun...Published: 02 Mar 2022 at 05:36hrs | 257 | 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 | 3037 | by Phillip van Niekerk and a Zim-based Research Team
Apostolic sect seeks to cash in on followers
AN apostolic sect is seeking business ventures with food manufacturers in a deal that would see some products bearing the logo of the religious group.In a letter to food companies dated Decemb...Published: 24 Dec 2021 at 07:30hrs | 1138 | 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 | 283 | by Staff reporter
US$28m in taxpayers' funds misappropriated in corrupt deal
THE Parliamentary Portfolio Committee on Lands has recommended that the police and Zimbabwe Anti-Corruption Commission investigate the Grain Millers' Association of Zimbabwe (GMAZ) and its president T...Published: 22 Nov 2021 at 06:16hrs | 64 | by Staff reporter
Milling company splits groceries unit
LISTED milling company, National Foods Limited, is splitting its groceries unit into the down-packed and traded goods units while US$4 million has been planned for investment into additional cereal ma...Published: 15 Nov 2021 at 05:25hrs | 14 | by Staff reporter
Zanu-PF fights delay wheat payments
PAYMENTS to wheat farmers for the 2021 season are likely to be delayed after millers, who had pledged $5,5 billion to complement government funds, were scandalised by a parliamentary report which left...Published: 06 Nov 2021 at 06:15hrs | 20 | by Staff reporter
Natfoods backs agriculture revival
Listed manufacturer, National Foods Holdings Limited (Natfoods) says the improved performance of the agriculture sector will reduce the need for imported raw materials.Natfoods is the country'...Published: 29 Oct 2021 at 07:47hrs | 20 | by Staff Reporter
Enough inputs for 2021 season
Seed and fertiliser firms have ramped up production to meet demand for inputs for the forthcoming summer cropping season in State-assisted programmes and the commercial sector, with farmers urged to b...Published: 23 Aug 2021 at 06:46hrs | | by Staff reporter
27 firms fined for abusing forex auction system
Twenty one more companies have now been found abusing the foreign currency auction system, bringing the total to 39, and of these, 27 have been assessed civil penalties while 12 others have been issue...Published: 10 Jul 2021 at 10:53hrs | 40 | by Staff reporter
Cost of living hits $40 680
THE cost of living for a family of six surged by 13,4% to $40 680 this month, from $35 877 in April following relentless price hikes stemming from currency volatilities and market jitters triggered by...Published: 21 Jun 2021 at 06:04hrs | 9 | by Staff reporter
Firms fingered in abusing forex auction fight back
COMPANIES which were this week accused by the Reserve Bank of Zimbabwe (RBZ) of abusing the funds obtained from the foreign currency auction market have strongly refuted the allegations and are seekin...Published: 18 Jun 2021 at 13:03hrs | 12 | by Staff reporter
RBZ goes for broke: names, shames forex abusers
THE Reserve Bank of Zimbabwe (RBZ) yesterday escalated plans to punish "outliers" including listed milling giant, National Foods, which it said were "abusing" foreign currency acquired through the auc...Published: 16 Jun 2021 at 08:29hrs | 7 | by Staff reporter
18 forex abusers to pay penalties
The Reserve Bank of Zimbabwe yesterday listed the first 18 firms facing civil penalties under the new Statutory Instrument 127 after being caught abusing the foreign exchange auction system, with Zimb...Published: 16 Jun 2021 at 08:16hrs | 10 | by Staff reporter
RBZ names companies abusing foreign exchange auction system
THE Reserve Bank of Zimbabwe has named 18 companies that have been abusing the foreign exchange auction system. The RBZ released a statement and said the companies that were found out by the F...Published: 15 Jun 2021 at 18:21hrs | 24 | by Staff reporter
US$1,5m biscuit plant for Bulawayo
A food manufacturing company, Flynote Investments, has announced that it has invested more than US$1,5 million in setting up a state-of-the-art biscuit making plant in Bulawayo as it moves to compleme...Published: 13 Jun 2021 at 19:57hrs | 10 | by Staff reporter
Zimbabwean brands need to step up to the plate
Production seems to be the driving spirit of the new dispensation, as the country pursues a modernisation and industrialisation agenda whose objective is to grow the economy, create rewarding and sust...Published: 09 May 2021 at 08:00hrs | 18 | by Staff reporter
Biti's pessimism over RBZ forex auction defied by listed companies
LISTED companies reporting their latest financials have effectively defied claims made by former finance minister, Tendai Biti the Reserve Bank of Zimbabwe foreign exchange auction system was a rigged...Published: 21 Apr 2021 at 06:59hrs | | by Staff reporter
LSZ deregisters Bulawayo lawyer for double-dipping
THE Law Society of Zimbabwe (LSZ) has deregistered Bulawayo lawyer Llyod Manokore, who is also the founder of Manokore Attorneys DLA Piper Africa Zimbabwe, for double-dipping after representing two pa...Published: 19 Apr 2021 at 06:24hrs | 12 | by Staff reporter
GMAZ calls for Ministry of labour's intervention over threatened strike
The Grain Millers Association of Zimbabwe (GMAZ) and United federation for food and Allied Workers Union of Zimbabwe are meeting the minister of Public Service labour and Social Welfare Paul Mavima to...Published: 15 Apr 2021 at 13:10hrs | 9 | by Paul Ndou
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 | 17 | by Staff reporter
Millers declare looming workers strike illegal
The Grain Millers Association of Zimbabwe (GMAZ) has warned employees representatives of the milling industry that their threats to embark on a nationwide...Published: 07 Apr 2021 at 18:36hrs | 20 | by Paul Ndou
LSZ deregisters 'double-dipping' lawyer
FOUNDER and managing partner of Manokore Attorneys DLA Piper Africa Zimbabwe, Lloyd Manokore, has been deregistered by the Law Society of Zimbabwe (LSZ) for unethical conduct after representing two pa...Published: 29 Mar 2021 at 06:28hrs | 136 | 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 | 18 | by Staff reporter
New flour plant for Bulawayo
DIVERSIFIED agro-industrial concern, National Foods is set to install a new state-of-the art US$5 million flour milling plant at the firm's factory in Bulawayo. The new plant, whose installati...Published: 23 Mar 2021 at 06:13hrs | 12 | by Staff reporter
RBZ warns banks
The Reserve Bank of Zimbabwe (RBZ) has warned banks which offer overdrafts to companies to buy foreign currency from the auction system saying such a move creates speculation in the market and promote...Published: 18 Mar 2021 at 06:42hrs | 17 | by Staff rpeorter
Bulawayo residents enduring sleepless nights
The Covid-19 outbreak has piled more misery on Bulawayo residents, who are enduring sleepless nights due to the irritating mosquito menace caused by council's failure to disinfect breeding sites, citi...Published: 07 Mar 2021 at 08:53hrs | 19 | by Staff reporter
Zimbabwe's cartels that are not the real cartels
I just read the report by Daily Maverick, that is purporting to expose cartels in Zimbabwe. The problem with the report is it does not include the obvious and leading cartels in Zimbabwe, such as Old ...Published: 11 Feb 2021 at 09:38hrs | 38 | by Simbarashe Mwandipendaa
Proudly made in Zimbabwe
The advent of globalization has demonstrated that each country has expertise in a certain trade and there are commodities that resonate with certain countries more than others. It is often argued that...Published: 02 Feb 2021 at 00:25hrs | 24 | by Victor Bhoroma
National Foods offer funds to rehabilitate road
THE National Foods Limited has approached the Bulawayo City Council (BCC) offering funds to rehabilitate one of the roads providing access to its property, on condition that the local authority would ...Published: 31 Dec 2020 at 10:36hrs | 12 | by Staff reporter
'Rushwaya gold could buy UniFreight, Zeco'
THE gold that underfire Zimbabwe Miners' Federation (ZMF) boss Henrietta Rushwaya allegedly tried to smuggle out of the country before running into an airport security trap about three weeks ago was e...Published: 14 Nov 2020 at 21:20hrs | 9 | by Staff reporter
National Foods starts maize imports
National Foods says it has commenced substantial maize imports to cover the predicted demand between December 2020 and April 2021 as the recently concluded harvest was impacted by a second successive ...Published: 09 Nov 2020 at 20:57hrs | 6 | by Staff reporter
Mangudya retains confidence at the Central Bank
From the time Zimbabwe switched from inter-bank market for foreign currency to an auction system, which is largely driven by market. The idea is to determine market exchange rate. The bids come from u...Published: 05 Nov 2020 at 16:02hrs | 4 | by Tinashe Eric Muzamhindo
Rushed Zim Dollar introduction cost the economy
The Zimbabwean government recently gazetted the Finance Bill (H.B.4 of 2020) which validates the fiscal changes that were tabled in the Mid-Term budget review in July 2020. The Bill amends the Gains T...Published: 22 Sep 2020 at 18:17hrs | 2 | by Victor Bhoroma
Thambolenyoka was hurt to leave military life
WE continue our interview with Tennyson Mlobi Khutshwekhaya Ndlovu who during the post-independence conflict operated as a dissident and was known as Thambolenyoka. However, during the war of liberati...Published: 20 Sep 2020 at 08:34hrs | 32 | by Staff reporter
Mangudya stabilizes market and prices through Foreign exchange auction
The main objective of introducing the Foreign exchange auction is price stability and exchange rate price discovery. Prices have been stable for the past eight weeks or so, and hence optimism. That bi...Published: 26 Aug 2020 at 13:30hrs | 15 | by Tinashe Eric Muzamhindo
ZANU PF Youth leader speaks out
ZANU PF Youth league Boss Lewis has dismissed reports that on Tueday he led party youths to storm National Foods' main depot in Harare's Workington industrial area where they reportedly demanded to be...Published: 26 Jun 2019 at 16:49hrs | | by Mandla Ndlovu
RBZ releases US$7m for bonded wheat
The Grain Millers Association of Zimbabwe (GMAZ) says it has secured US$7 million from the Reserve Bank of Zimbabwe (RBZ) to import 19 000 metric tonnes of wheat.The revelation came after sour...Published: 20 Jun 2019 at 07:58hrs | | 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 | | by Staff reporter
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