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Mutapa looting machine
PRESIDENT Emmerson Mnangagwa is full of surprises.He wants to be seen to be doing something and, in many instances, creates new offices that in reality are as clear as mud.Mutapa Inves...Published: 23 Sep 2023 at 21:34hrs | | by Paidamoyo Muzulu
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 | 2 | by Staff reporter
EcoCash posts $4,76bn loss
ECOCASH Holdings Zimbabwe Limited (EHZL) has posted a $4,76 billion loss for its financial year ended February 28, 2023 owing to monetary exchange losses worth $30,1 billion linked to its failure to r...Published: 02 Jun 2023 at 06:44hrs | | by Staff reporter
Council divided over Go Beer revival
Gweru City councillors have called on management to compile a report on the defunct Go Beer Breweries before the local authority entertains any plans of reclaiming the business.The brewery was...Published: 23 Apr 2023 at 07:52hrs | 1 | by Staff reporter
Govt pledges $2 billion for NRZ rehab
GOVERNMENT has pledged to fund rehabilitation of National Railways of Zimbabwe (NRZ) infrastructure to the tune of $2 billion.Speaking during a tour of the NRZ workshop in Bulawayo yesterday, ...Published: 25 Nov 2022 at 05:13hrs | | by Staff reporter
Tendai Biti blames government for power blackouts
CITIZENS Coalition for Change vice president Tendai Biti has said rolling power blackouts have a negative impact on the pillars of the economy and Government should consider investing in renewable ene...Published: 13 Nov 2022 at 17:32hrs | | by Staff reporter
RBZ in dramatic U-turn on Fidelity privatisation
IN a dramatic policy U-turn, the Reserve Bank of Zimbabwe (RBZ) has indefinitely suspended its plans to partially privatise Fidelity Printers and Refiners (FPR) nearly two years after announcing inten...Published: 04 Nov 2022 at 05:32hrs | | by Staff reporter
Kangai's bid for NetOne severance package rejected by court
SPIRITED efforts by former NetOne chief executive officer Reward Kangai (pictured) to get his severance package have been further delayed after the High Court dismissed his application in which he sou...Published: 14 Sep 2022 at 06:07hrs | | by Staff reporter
Your Excellency Mnangagwa, the buck stops with you
DEAR President,Your Excellency, the cost of living has been skyrocketing for quite some time now. Salaries are subjected to progressive erosion. As I see it, long before teachers in public ser...Published: 29 Jun 2022 at 07:47hrs | | by Cyprian Muketiwa Ndawana
Zimbabwe airports agency beefs up security
ZIMBABWE'S airports authorities are planning to roll out multi-pronged systems enabling them to beef up security at porous exit and entry points, businessdigest was told this week.Previously, ...Published: 17 Jun 2022 at 08:57hrs | 6 | by Staff reporter
RBZ shelves plans to sell gold buying unit
The Reserve Bank of Zimbabwe (RBZ) has indefinitely suspended plans to dispose of its controlling stake in the country's sole gold buyer, Fidelity Printers and Refinery, to new shareholders, a senior ...Published: 21 Mar 2022 at 06:21hrs | 6 | by Staff reporter
Zesa rebundling firmly on course
LEADING audit firm Ernst & Young, which has completed its consultancy report on the unbundling of Zesa, has recommended that the role of executive chairman be abolished at the State power utility....Published: 10 Feb 2022 at 05:26hrs | | by Staff reporter
Zesa imports extra 480MW
Zesa Holdings is set to add 480 megawatts to its supply over the next two months to bridge the power deficit that has resulted in increased load-shedding at a time it is battling annual losses of $1,5...Published: 22 Nov 2021 at 05:51hrs | 7 | by Staff reporter
Zimbabwe to revamp airports security
Security systems at Zimbabwe's airports are set for a major upgrade over the next 24 months in a development that will see state-of-the-art scanners replacing physical searches among other key issues,...Published: 06 Oct 2021 at 05:45hrs | 6 | by Staff reporter
US$13 million tower for JMN airport
THE newly established Airports Company of Zimbabwe (ACZ) is working on constructing a new US$13 million tower at the Joshua Mqabuko Nkomo International Airport in Bulawayo as part of its immediate man...Published: 26 Sep 2021 at 19:37hrs | 7 | by Staff reporter
Group demands ZSE listings for Fidelity suitors
INVESTORS interested in taking up equity in the central bankrun Fidelity Printers and Refiners (FPR) should agree to list on at least one of the country's stock exchanges in order to enhance transpare...Published: 29 Aug 2021 at 07:15hrs | 1 | by Staff reporter
Tagwirei linked companies cited in US$49m privatisation deal
AS Treasury maintains a tight lid over the identity of gold producers who snapped 60% shareholding in Fidelity Printers and Refiners (FPR), emerging details show that Kuvimba Mining House, Better Bran...Published: 20 Aug 2021 at 07:22hrs | | by Staff reporter
Chamisa's MDC claims Fidelity 'parcelled out' to Tagwirei
The MDC Alliance is mulling a legal challenge to the disposal of the government's majority stake in Fidelity Printers and Refiners (FPR), which the party says has been "parcelled out" to controversial...Published: 03 Aug 2021 at 18:45hrs | 2 | 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
Lockdown internet demand boosts TelOne
STATE-OWNED telecoms operator TelOne last year realised inflation-adjusted revenue growth of 147% to ZW$4.7 billion compared to the corresponding period in 2019 due to an upsurge in the demand for bro...Published: 03 Jul 2021 at 21:31hrs | | by Staff reporter
Tanganda to relist on ZSE
ZIMBABWE'S largest producer and distributor of tea and other beverages, Tanganda Tea Company Limited, is expected to relist on the Zimbabwe Stock Exchange (ZSE) after over a decade of absence. This wi...Published: 16 Apr 2021 at 07:32hrs | 1 | by Staff reporter
US$250m bond for Harare Beitbridge road
An infrastructure bond issue for US$250 million will be floated to finance the rehabilitation and new construction of the 584km Harare-Masvingo-Beitbridge highway from the flyover replacing Mbudzi rou...Published: 02 Mar 2021 at 06:30hrs | | by Staff reporter
Rains to drive Zimbabwe exports rebound
ZIMBABWE has been projected to narrow its trade balance in 2021 owing to better yields in the current agricultural season following a good rainfall season.According to a report by IH Securitie...Published: 21 Feb 2021 at 07:05hrs | | by Staff reporter
Tycoon Tagwirei's hold on Zim gold
BUSINESS kingpin Kudakwashe Tagwirei has long had a commanding position in Zimbabwe's US$100m-a-month fuel import market, and owns major stakes in banking, telecoms and the country's largest platinum ...Published: 10 Feb 2021 at 06:25hrs | | by Staff reporter
Spooks investigate US$45m CAPS deal
ZIMBABWE's state security service, the Central Intelligence Organisation (CIO), is investigating a volatile commercial dispute that has erupted between the government and interim trustees of Caps Phar...Published: 19 Dec 2020 at 16:38hrs | 2 | by Staff reporter
RBZ ends Fidelity Printers monopoly
THE Reserve Bank of Zimbabwe (RBZ) has privatised its gold refining business, ending a monopoly that has been enjoyed by Fidelity Printers and Refiners. Fidelity controls Zimbabwe's gold ...Published: 17 Dec 2020 at 07:06hrs | | by Staff reporter
RBZ to sell Fidelity Printers & Refinery
Reserve Bank of Zimbabwe has announced its intention to unbundle and dispose of part of its stake in Fidelity Printers and Refiners.According to a statement from RBZ governor John Mangudya, th...Published: 16 Dec 2020 at 15:09hrs | 1 | by Staff reporter
Zimbabwe economy needs free-market policies to grow
The introduction of the foreign exchange interbank market by the Reserve Bank of Zimbabwe (RBZ) in February 2019 was a major milestone towards free market economics. Even though there are fears of gov...Published: 28 Jul 2019 at 17:59hrs | | by Victor Bhoroma
Government debts weigh on TelOne
State owned fixed telecommunications giant TelOne says unpaid Government debts amounting to $93 million, 62 percent of total debt, are largely the reason it has struggled to meet obligations to critic...Published: 05 Jul 2019 at 07:51hrs | | by Staff reporter
Econet swings to $106,4m loss after tax
Econet Wireless Zimbabwe Limited (EWZL) posted a loss after-tax of ZWL$106,4 million in the year ended February 28, 2019, from a profit after-tax of ZWL$132,3 million recorded in 2018 following the un...Published: 02 Jul 2019 at 08:30hrs | | by Staff reporter
Gweru revives Go-Beer
Gweru City Council has moved to revamp its beer concern, Go-Beer Breweries, after unbundling it into three business units expected to be operational by the end of the year, a senior council official h...Published: 07 May 2019 at 07:53hrs | | by Staff reporter
Strive Masiyiwa pockets $100m in dividends
STRIVE Masiyiwa has pocketed close to US$100 million as dividend payouts from his investment in Econet Wireless Zimbabwe (EWZ) since 2009, businessdigest has established.According to Econet Wi...Published: 03 May 2019 at 07:22hrs | | by Staff reporter
Zesa re-bundling part of parastatals reforms, says Chiwenga
THE re-bundling of Zesa and merger of its five previously separate entities into a single integrated company will cut overhead costs and boost power generation efficiency, Vice President Constantino C...Published: 25 Apr 2019 at 07:02hrs | 1 | by Staff reporter
Mnangagwa bullish on TelOne future prospects
The professionalism of TelOne's management, including their determined push to turnaround the State-owned enterprise (SOE), will likely be a drawcard for reputable technical partners or suitors, Presi...Published: 17 Mar 2019 at 08:30hrs | 8 | by Staff rpeorter
Cabinet Okays ZMDC unbundling
Cabinet on Tuesday approved the unbundling of State mining arm — the Zimbabwe Mining Development Corporation (ZMDC) — into four mineral specific units as efforts to improve efficiency in State-own...Published: 20 Feb 2019 at 22:35hrs | | by Staff reporter
More heads to roll at Zesa
SEVERAL Zesa Holdings senior managers face the axe following a damning forensic audit that has unearthed serious allegations of corruption and abuse of office.Last week, the national electrici...Published: 10 Feb 2019 at 05:55hrs | | by Staff reporter
Strive Masiyiwa grows business empire
ECONET Wireless founder Strive Masiyiwa this week consolidated his position as one of Zimbabwe's richest investors after his fintech company, Cassava SmarTech (CSZL), became the most valuable counter ...Published: 22 Dec 2018 at 19:10hrs | | by Staff reporter
Giant leap for Cassava
ECONET Wireless Zimbabwe's spin-off Cassava Smartech Zimbabwe Limited (CSZL) will finally list on the Zimbabwe Stock Exchange (ZSE) on Tuesday after the Strive Masiyiwa-owned telecommunications giant ...Published: 16 Dec 2018 at 10:50hrs | | by Staff reporter
Mnangagwa's false start
AS undergraduates in our day, one of the most cynical commentaries on post-independent Africa was French writer, Rene Dumont's book False Start in Africa (1966).Those were the years of militar...Published: 23 Nov 2018 at 06:29hrs | 1 | by Ibbo Mandaza
Econet share price tanks
ECONET Wireless Zimbabwe Limited's (EWZL) saw a 32,4% dip to its share price to $1,6531 as of the end of yesterday's trading as the market re-evaluated the company due to it unbundling its financial t...Published: 22 Nov 2018 at 06:04hrs | | by Staff reporter
Zimbabwe to announce diamond policy
MINES minister Winston Chitando says he expects to announce a diamond policy later this month, which will also regularise the operations of the State-owned Zimbabwe Consolidated Diamond Company (ZCDC)...Published: 08 Nov 2018 at 05:28hrs | 10 | by Staff reporter
'Cassava Smartech initiative way to go'
Lands, Agriculture, Water, Climate and Rural Resettlement Ministry says it highly upholds technological innovations that seek to develop agriculture productivity. This follows advances made by...Published: 06 Nov 2018 at 05:25hrs | | by Staff reporter
Going big on a wrong idea
While we can only commend the government for looking to leverage technology in order to grow its tax revenue via formalisation, the reasoning and application is massively flawed.For a policy t...Published: 21 Oct 2018 at 09:56hrs | | by Kelvin Moyo
Nedbank buying back shares from minority shareholders
NEDBANK Group (Nedbank) says it will pay R2 billion (approximately US$139,6 million) to minority shareholders inherited from Old Mutual.The South Africa-based financial institution, which owns...Published: 17 Oct 2018 at 16:02hrs | | by Staff reporter
3 Zimbabwe business executives nominated for top Africa award
THREE Zimbabwean business executives and entrepreneurs have been nominated for the All Africa Business Leaders Awards (AABLA), established to honour business excellence among business leaders from aro...Published: 04 Oct 2018 at 05:57hrs | | by Staff reporter
16 State enterprises to be privatised
The government is undertaking a raft of State enterprise reforms under which 16 entities will be privatised, 13 parastatals merged while two others will be liquidated, State Enterprises Restructuring ...Published: 03 Oct 2018 at 15:22hrs | 1 | by Staff reporter
Matiza talks tough on VID corruption
Transport minister Joel Biggie Matiza inherited a portfolio that superintends over struggling, but key parastatals such as Air Zimbabwe and the National Railways of Zimbabwe.Matiza (JBM) told ...Published: 30 Sep 2018 at 18:59hrs | | by Staff reporer
Govt moves into bulk fuel imports
The intermittent fuel supply bottlenecks occasionally witnessed in some parts of the country have jolted Government into considering venturing into bulk fuel importation to ensure steady availability ...Published: 23 Sep 2018 at 08:45hrs | 1 | by Staff reporter
Zimbabwe resumes diamond auction
Zimbabwe resumed diamond auction last week, but attracted fewer international buyers than expected, the Minerals and Marketing Corporation of Zimbabwe said. The auction - the third to be condu...Published: 10 Sep 2018 at 06:29hrs | | by Staff reporter
Cabinet okays Zesa re-bundling
Cabinet has approved the re-bundling of Zesa Holdings as part of measures to arrest the high cost of running the business, and potentially result in the power tariff coming down or remaining at the cu...Published: 29 Aug 2018 at 06:30hrs | | by Staff reporter
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