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Zimbabwean consumer sector poised for improvement
An uplift in volumes has been projected for Zimbabwean consumer companies despite rising cost structures, a volatile policy and monetary environment as well as higher taxation, say analysts at IH Secu...Published: 07 Jul 2025 at 08:57hrs | 117 | by Staff reporter
Mnangagwa challenges NatFoods to raise exports
President Emmerson Mnangagwa has challenged National Foods Holdings Limited to intensify its regional export efforts following the commissioning of the company's new production lines for pasta, biscui...Published: 30 May 2025 at 09:46hrs | 218 | by Staff reporter
Man arrested in midnight heist near Renkini terminus
A man from Cowdray Park who thought he could outrun the law found himself behind bars after police caught him red-handed with stolen goods in a daring early-morning robbery gone wrong.Thabo Du...Published: 18 May 2025 at 11:54hrs | 922 | by Staff reporter
VFEX sees massive jump in Q1 turnover
The Victoria Falls Stock Exchange (VFEX) recorded a significant jump in trading activity during the first quarter of 2025, with market turnover reaching US$58.5 million — a 383 percent increase from...Published: 28 Apr 2025 at 12:09hrs | 23 | by Staff reporter
Elderly Bulawayo couple sentenced for exploiting bank glitch
An elderly couple from Bulawayo, who took advantage of a technical glitch at Stanbic Bank Zimbabwe to embezzle over US$30,000, has been sentenced to seven years in prison.Frank Sibanda and his...Published: 27 Mar 2025 at 06:06hrs | 714 | by Staff reporter
Pothole crisis turns Bulawayo roads into daily nightmares
Motorists in Bulawayo are facing a daunting challenge as potholes continue to multiply across the city, making major roads nearly impassable. The recent rains, while welcomed by residents and farmers,...Published: 28 Jan 2025 at 07:01hrs | 318 | by Staff reporter
Zesa explains national blackouts
Zimbabwe’s power utility, Zesa, has attributed the two major blackouts on Monday night and yesterday afternoon to an imbalance in the international connectors, which affected both the national grids...Published: 19 Dec 2024 at 17:01hrs | 1695 | by Staff reporter
NatFoods bemoans limited ZWG acceptability
Zimbabwe's listed food manufacturer, National Foods (NatFoods), has expressed concern over the limited acceptability of the Zimbabwe Gold (ZWG) as a medium for sourcing raw materials, highlighting the...Published: 10 Dec 2024 at 07:09hrs | 728 | 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
Livestock farmers bemoan delayed rains
Livestock farmers across Beitbridge district are voicing their concerns over the delayed start of the rainy season, which has disrupted grazing patterns and severely affected the health of their lives...Published: 11 Nov 2024 at 11:35hrs | 534 | 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
National Foods to Pay Unfairly Dismissed Worker Over US$86,000
National Foods Limited is yet to pay an unfairly dismissed employee over US$86,000, as ordered by the High Court.Tendai Bonde, a former...Published: 02 Oct 2024 at 07:03hrs | 1221 | by Stephen Jakes
ZSE outshines VFEX in wealth creation
The Zimbabwe Stock Exchange (ZSE) has emerged as the preferred investment destination for those seeking wealth creation, surpassing the foreign currency-denominated Victoria Falls Stock Exchange (VFEX...Published: 26 Sep 2024 at 13:37hrs | 64 | by Staff reporter
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
Delta takes Zimra to court
Zimbabwe's largest beverages producer recently announced its opposition to a US$54.8 million tax claim, labeling it as unjust enrichment for the Zimbabwe Revenue Authority (Zimra). Delta Corporation, ...Published: 18 May 2024 at 12:17hrs | 22 | by Staff reporter
Zimbabwe spends US$40m on importing spaghetti
Zimbabwe's annual importation of approximately US$40 million worth of macaroni and spaghetti, primarily from Egypt, reflects the nation's sluggish industrialization progress. Despite pasta not being a...Published: 18 May 2024 at 11:55hrs | 50 | by Staff reporter
Matinyarare's 'Innscor has destroyed the taste of Zim food' comments cause consternation
If Zimbabwe Stock Exchange (ZSE)-listed food giant Innscor was hoping to avoid press scrutiny, it could hardly have chosen a more self-destructive path than seeking a gag order against journalist Rute...Published: 04 Mar 2024 at 21:20hrs | 6 | by Staff reporter
Knives out as battle looms between Benson Matinyarare and the milling industry
In a recent development that has sent shockwaves through the milling industry in Zimbabwe, a looming battle between Rutendo Benson Matinyarare and major players such as Innscor and National Foods has ...Published: 28 Feb 2024 at 16:22hrs | 34 | by Mandla Ndlovu
Innscor goes after Zanu-PF activist
Innscor Africa has obtained a takedown order against Zanu-PF social media activist Benson Rutendo Matinyarare, who posted videos online accusing the company of "destroying the taste of Zimbabwean food...Published: 17 Jan 2024 at 05:05hrs | 33 | by Staff reporter
Zimbabwe claims to have enough grain in stock
GOVERNMENT has assured the nation that Zimbabwe has enough mealie-meal to feed the people amid fears of a possible shortage due to the predicted El Nino-induced droughtZimbabwe and other regio...Published: 10 Jan 2024 at 05:55hrs | 10 | by Staff reporter
Zimbabwe back to 20-hour power cuts
Zimbabwe is once again grappling with 20-hour power cuts, with no solution in sight until 2025 at the earliest."It's a long road ahead," Energy Minister Edgar Moyo said.Zimbabwe's peak...Published: 18 Nov 2023 at 19:42hrs | 14 | by Staff reporter
Clerk arrested for stealing US$17,000
A cashbook clerk employed by National Foods Limited has been brought before the Harare magistrates' court, facing allegations of defrauding his employer to the tune of US$17,000. The case was represen...Published: 29 Sep 2023 at 06:23hrs | | by Staff reporter
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: 04 Jun 2023 at 08:30hrs | 11 | 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 | 3 | 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 | 5 | 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 | 2 | 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 | 1 | 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 | 3 | 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 | 1 | 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
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 | | 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 | 1 | 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 | 2 | 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 | | 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
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 | 12 | 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
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 | 12 | 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 | 10 | 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 | 11 | 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 | 11 | 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 | 1 | 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 | 1 | 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 | 2 | 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 | 1 | 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 | 4 | 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 | 2 | 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 | 2 | 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 | 2 | by Staff reporter
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