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PRAZ cracks whip on errant companies

The Procurement Regulatory Authority of Zimbabwe (PRAZ) has handled 53 cases involving companies found to have flouted procurement procedures, with one company permanently barred from participating in any public bidding process.Speaking at…

Published: 11 Sep 2025 at 10:47hrs | 84 | by Staff reporter

Shell companies siphon US$450m from Zimbabwe, SA

A network of 23 shell companies operating between Zimbabwe and South Africa has been implicated in laundering US$450 million through illicit financial flows (IFFs), part of an estimated US$3 billion in combined annual losses to the two cou…

Published: 15 Aug 2025 at 14:22hrs | 548 | by Staff reporter

Govt finalises mining cadastre rollout

The Zimbabwean government is set to modernise the country's mining sector through the final rollout of a digital mining cadastre system aimed at improving transparency, accuracy, and efficiency in mining title management.Effective from Jul…

Published: 10 Jul 2025 at 09:09hrs | 197 | by Staff reporter

Companies reel under crippling costs, regulatory chaos

Zimbabwe's formal business sector is under severe strain as economic pressures mount, with industry leaders warning that ongoing policy inconsistencies, regulatory confusion, and worsening macroeconomic instability are putting many compani…

Published: 10 Jul 2025 at 09:08hrs | 262 | by Staff reporter

Zimbabwe's pension sector faces a mounting crisis

Zimbabwe's pension sector faces a mounting crisis as contribution arrears soar to a staggering US$93 million, prompting the Insurance and Pensions Commission (IPEC) to announce an aggressive enforcement crackdown against delinquent employe…

Published: 03 Jul 2025 at 12:27hrs | 209 | by Staff reporter

Seed firms crippled by Zimbabwe govt debt

Zimbabwe's seed industry is teetering on the edge of collapse as the government grapples with ballooning debt, having failed to pay seed suppliers nearly US$270 million over the past three farming seasons.The debt, stemming from flagship s…

Published: 22 May 2025 at 11:36hrs | 229 | by Staff reporter

CZI urges companies to reduce idle capacity

Confederation of Zimbabwe Industries (CZI) chief executive officer, Ms Sekai Kuvarika, has called on Zimbabwe's manufacturing sector to reduce unutilised capacity as a key strategy to lower production costs, improve efficiency, and expand …

Published: 30 Apr 2025 at 07:14hrs | 295 | by Staff reporter

Mutapa portfolio grows to 66 companies

The Mutapa Investment Fund (Mutapa) manages a diverse portfolio of 66 state-owned enterprises (SOEs), their subsidiaries, and state-invested enterprises (SIEs). This portfolio includes entities in various financial positions, from profitab…

Published: 16 Jun 2024 at 09:13hrs | 48 | by Staff reporter

US says companies may review stance on Zimbabwe after sanctions shift

US businesses may re-examine their stance on Zimbabwe following the adoption of a new sanctions program which places only three entities and the nation's top leaders including Zimbabwean President Emmerson Mnangagwa under restrictions."Its…

Published: 09 Mar 2024 at 10:57hrs | 12 | 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 capitalisation of US$3.6 trillion - for a …

Published: 19 Apr 2023 at 20:39hrs | 12 | by Staff reporter

Zimra gridlocks ground companies

THE Zimbabwe Revenue Authority (Zimra)'s e-filing system has been overwhelmed since December last year, triggering serious gridlocks for thousands of companies attempting to file their tax returns.Standardbusiness was told on Friday that s…

Published: 20 Feb 2022 at 08:55hrs | 6 | by Staff reporter

Zimra gridlocks ground companies

THE Zimbabwe Revenue Authority (Zimra)'s e-filing system has been overwhelmed since December last year, triggering serious gridlocks for thousands of companies attempting to file their tax returns.Standardbusiness was told on Friday that s…

Published: 13 Feb 2022 at 20:44hrs | 5 | 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 aggravated by the Covid-19 pandemic.A …

Published: 03 Sep 2021 at 06:56hrs | 19 | by Staff reporter

Companies struggle to raise US$2 billion

ZIMBABWE'S manufacturing companies have struggled to raise about US$2 billion in fresh capital to drive production back to pre-crisis levels, industry data indicated this week, as executives warned the government to address factors that ha…

Published: 23 Jul 2021 at 08:53hrs | 17 | by Staff reporter

UK slaps sanctions on Kudakwashe Tagwirei and companies

The United Kingdom on Thursday announced it had imposed an asset freeze and travel ban on Sakunda boss and President Emmerson Mnangagwas adviser, Kudakwashe Tagwirei.The sanctions will also apply to any entities owned or controlled by Tagw…

Published: 22 Jul 2021 at 16:11hrs | 9 | by Staff reporter

Govt probes fuel companies

THE government has ordered a probe into oil companies accused of abusing a Reserve Bank of Zimbabwe (RBZ) foreign currency facility that allows them to secure fuel - but which they are now allegedly selling in foreign currency instead of t…

Published: 22 Mar 2021 at 15:40hrs | 13 | by Staff reporter

60% of Bulawayo companies close shop

THE labour movement, consumer rights groups, small enterprises and informal traders have lamented the continuous collapse of Bulawayo industries amid revelations that up to 60% of companies have closed shop.Some businesses have had their p…

Published: 19 Feb 2021 at 07:04hrs | 156 | by Staff reporter

Power crisis turns night into day for Zimbabweans

Around 9 p.m., a siren pierces the pitch-black night at the Willowvale industrial park in Zimbabwe, signalling that power has been restored after a day-long outage.Moments later, eight men in blue overalls walk into a factory and begin sho…

Published: 01 Aug 2019 at 16:38hrs | 8826 | by Reuters

Zimbabwe companies get greenlight to report in US$

THE Public Accountants and Auditors' Board (PAAB) has issued a new reporting guidance framework that permits companies to present financials for year ending December 31, 2018 in United States dollars (US$).The guidance framework was issued…

Published: 27 Mar 2019 at 07:00hrs | 16 | by Staff reporter

Temporary forex relief for companies

COMPANIES facing imminent closure due to lack of foreign currency got temporary respite after government issued letters of credit allowing large corporates to procure raw materials, Confederation of Zimbabwe Industries (CZI) has said.CZI p…

Published: 18 Jan 2019 at 12:16hrs | 8 | by Staff reporter

Zimbabwe companies should leverage on ICT transformation

TODAY'S global economy is powered by technology. From insurance, banking, marketing, news, education, health and communication, it is hard to imagine a modern business that does not rely on technology to serve its customers, transact with …

Published: 10 Sep 2018 at 06:47hrs | 8 | by Jacob Mutisi

9 companies granted Special Economic Zone status

Nine companies have been granted Special Economic Zone status in a development that will expedite Government's drive to increase foreign direct investment (FDI) inflows. According to a Government Gazette published last Friday, the nine com…

Published: 10 Sep 2018 at 06:35hrs | 13 | by Staff reporter

Companies dismiss externalisation claims

SOME companies making the top 10 list of firms and individuals accused by President Emmerson Mnangagwa of externalising US$1,3 billion have dismissed the allegations, while others say government published the list without consulting them.O…

Published: 24 Mar 2018 at 19:44hrs | 5 | by Staff reporter

Zanu-PF bigwigs renew fights over companies

A renewed fight over the mismanagement, looting and collapse of Zanu-PF's business empire looms as the issue is now being resurrected as part of President Robert Mugabe's succession war.Zanu-PF and police sources say there have been effort…

Published: 07 Jul 2017 at 18:10hrs | 53 | by Staff reporter

+100 indigenous companies collapse in Bulawayo

MORE than 100 indigenously-owned companies in Bulawayo are on the brink of collapse after loans and rentals that they have accrued since dollarisation in 2009 have come back to haunt them with banks and property managers on their tails, ap…

Published: 02 Jul 2017 at 10:41hrs | 13 | by Staff reporter

Diamond companies fooled Mugabe

President Robert Mugabe has publicly admitted that he was fooled after being paraded holding up a $1,5 million dummy cheque by Chiadzwa diamond mining companies at the behest of then Indigenisation minister Saviour Kasukuwere.Mugabe told t…

Published: 19 Jun 2017 at 13:54hrs | 11 | by Staff reporter

Zimbabwean companies wish Mugabe, 93, many more years to come

Struggling firms in Zimbabwe have "fallen over each" other to wish President Robert Mugabe many more years to come as he turned 93 on Tuesday, News24.com reported.Despite clear signs Mugabe was clueless in finding solutions to Zimbabweâ€™s…

Published: 21 Feb 2017 at 10:11hrs | 311 | by Staff reporter

O- Level attachment talks begin

Government is engaging private companies and non-governmental organisations to facilitate industrial attachment for Ordinary Level students in terms of the new school curriculum.Internship is a prerequisite of the curriculum's lifeskills o…

Published: 29 Jan 2017 at 09:21hrs | 11 | by Staff reporter

Zimbabwe government grabs $600 million ethanol project

THE ZIMBABWE government has taken over the US$600 million Green Fuel ethanol project in line with the countryâˆšÃ‰Â¬Â¢âˆšÂ¢â€šÃ„Ã¶Â¬Â¨âˆšÂ¢â€šÃ„Ã»Â¬Â¢s economic empowerment laws, Agriculture Minister, Joseph Made has said.Green Fuel was a …

Published: 11 Jun 2012 at 15:47hrs | 1628 | by Staff reporter

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