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We will not destroy companies through tax collection, says Zimra



THE Zimbabwe Revenue Authority says it is not bent on destroying ailing companies by employing rigid tax collection measures if companies fail to fulfill their tax obligations.The revenue ...Read more

We will not destroy companies through tax collection, says Zimra

31 October 2014 | 1042 Views
THE Zimbabwe Revenue Authority says it is not bent on destroying ailing companies by employing rigid tax collection measures if companies fail to fulfill their tax obligations.The revenue ...

by Business Reporter

Delta cuts down Chibuku production

31 October 2014 | 1257 Views
DELTA CORPORATION has stopped production of standard Chibuku beer at six breweries across the country, as plant rationalization continues after the introduction of its new product brand Chibuku Super....

by Staff reporter

Econet acquires TN Medical

30 October 2014 | 1843 Views
Econet Wireless Zimbabwe Limited has wholly acquired TN Medical-owned by the group's former chairman Tawanda Nyambirai for undisclosed amount. This comes as Econet last year took over Nyam...

by Staff reporter

Fly Africa to battle SAA on Zimbabwe route with cheaper deals

29 October 2014 | 4144 Views
Fly Africa, a low-cost carrier based in Zimbabwe, plans to compete with South African Airways on the Harare-Johannesburg route next month by luring passengers with cheaper deals."For that...

by Bloomberg

Lobels resuscitates Byo industry, creates jobs

28 October 2014 | 4268 Views
LOBELS Zimbabwe has acquired a new production line which will increase bread production by 50 percent to 150 000 loaves per day, in Bulawayo and 42 percent to 340 000 loaves per day, a development set...

by Staff Reporter

NMB CEO resigns due to ill health

27 October 2014 | 3930 Views
The Board of Directors of NMBZ Holdings has announced that Mr James A. Mushore will step down as Chief Executive Officer and Director of NMBZ Holdings and NMB Bank due to ill health, effective 31 Octo...

by Staff reporter

One wallet posts massive loss as Ecocash flourishes

24 October 2014 | 2185 Views
Government owned mobile phone operator NetOne generated a paltry US$1 194 in revenue from its mobile banking platform One Wallet for the year ending December 31 2012 after investing close to a qua...

by Staff reporter

Zimbabwean Hotels 20% cheaper

24 October 2014 | 2081 Views
Local hotel rates are 20% cheaper than other hospitality facilities in the region, African Sun chief executive Shingi Munyeza said. Munyeza said that despite market perception that the rat...

by Staff reporter

Econet to relaunch Ecolife

24 October 2014 | 1720 Views
Econet Wireless will reintroduce its mobile phone based insurance service Ecolife, scrapped two years back after a contractual dispute with the service's software providers, to counter competition...

by Staff reporter

Econet upgrades its call centre

23 October 2014 | 1945 Views
Econet Wireless Zimbabwe has spent $2,5 million for the upgrading of a new contact centre which has increased capacity to over 400%. The new platform will enable Econet contact centre ope...

by Staff reporter

Mobile operators ordered to reduce high tariffs

23 October 2014 | 3130 Views
LOCAL Mobile operators have been ordered to reduce voice tariffs from 23 cents per minute to 15 cents with effect from December 1, 2014.The directive the Postal and Telecommunications Regu...

by Business reporter

Wrong Ndebele spellings in Coca-Cola Ads

22 October 2014 | 6456 Views
After launching its "Share a Coke With a Friend" promotion, Delta Beverages lurched into a public relations nightmare as some consumers accused it of wrongly spelling Ndebele names on its products....

by Staff Reporter

Telecel boss Dr Makamba faces axe

22 October 2014 | 5073 Views
CURRENT Telecel Zimbabwe chairman James Makamba faces an ouster from his chairperson position after one of the company's shareholders - Zimbabwe National Miners Association - filed a High Court applic...

by Court Reporter

Cops accused of being too slow in CMED fraud case

21 October 2014 | 1990 Views
Police have been accussed of being too slow in arresting known perpetrators after CMED lost US$2,7 million allegedly lost through fraud said advocate Ashton Musunga of Musunga.However, Police ...

by Staff Reporter

Econet buys Telecel

20 October 2014 | 8467 Views
Econet Wireless Global (EWG) has acquired the assets of Russian global telecoms operator, Vimpelcom, in the Eastern and Central African countries of Burundi and Central African Republic.E...

by Staff reporter

NRZ employees in trouble over ZW$932 900

20 October 2014 | 2471 Views
TWO National Railways of Zimbabwe (NRZ) employees are in trouble over more than ZW$932 900 which they allegedly defrauded a former employee who was being compensated every month after he incurred...

by Court reporter

Kingdom bank crisis continues as people spend nights for $50

20 October 2014 | 2754 Views
SCORES of people have set up camp at AfrAsia Bank (formerly Kingdom), where they are spending nights in queues hoping they could withdraw as little as $50 the following day, in scenes reminiscent ...

by Business reporter

Buyanga buys Cell funeral assurance

17 October 2014 | 3071 Views
Controversial businessman Frank Buyanga has reportedly acquired Cell Funeral Assurance Company (Cell Funeral), Business Live reported. While Cell Funeral general manager Paidemoyo Mahundi ...

by Staff reporter

TM order to pay $2,390 back pay to its underpaid managers

16 October 2014 | 2634 Views
TM Supermarket has lost an appeal at the High Court after it unsuccessfully sought the court to set aside of an arbitration which compelled it to pay three of its managers a total of $2,390 each being...

by Staff Reporter

Tastic cooking sauces and rice products recalled from shops

16 October 2014 | 4642 Views
Johannesburg - Tiger Brands has recalled some of its cooking sauces and rice products after tests found traces of potentially carcinogenic ingredients, the food company said on Thursday.Af...

by Reuters

Women in Business Indaba for Gwanda

16 October 2014 | 1599 Views
THE Women Alliance of Business Associations in Zimbabwe (WABAZ) which has been embarking on "Town Hall" meetings across the country finally makes its way to the Matabeleland South Capital Gwanda t...

by Business Reporter

AfrAsia boss visits Zimbabwe

16 October 2014 | 1913 Views
AfrAsia Bank Mauritius CE James Benoit was recently in Zimbabwe to firm up discussions on the hunt for a new managing director for AfrAsia Bank Zimbabwe and strategies to solve the banking unit's...

by Staff reporter

RBZ repays raided bank accounts

16 October 2014 | 2203 Views
The RBZ has issued $300 million worth of Treasury Bills to local banks to compensate companies whose foreign currency accounts it raided during the hyperinflationary era. The move is mean...

by Staff reporter

MBCA to become Nedbank

16 October 2014 | 3113 Views
MBCA Bank, a unit of South Africa's Nedbank group, is next year change its name to Nedbank Zimbabwe. Nedbank, the fourth largest bank in South Africa by market capitalisation and customer ...

by Staff reporter

Air Zimbabwe eyes fleet modernization

14 October 2014 | 1462 Views
National airline, Air Zimbabwe will modernize its fleet in a phased approach, as part of a multi-pronged turnaround business strategy. Fleet modernization is critical to the survival of the na...

by Staff reporter

Top finance group opens offices in Byo

14 October 2014 | 4379 Views
BULAWAYO - One of the world's largest independent financial advisory organisations - the deVere group - has opened an office in Bulawayo, its second in Zimbabwe as part of its bid to expand its Af...

by Business reporter

Delta Beverages total beverage volume is down 3%

13 October 2014 | 1002 Views
Delta Corporation Limited issued a trading update for second quarter ended September 30, 2014 as follows:"The general economic performance remains depressed with significant pressure on consum...

by Staff reporter

Maize shortages allayed as GMB records increase in productivity

13 October 2014 | 1242 Views
The Grain Marketing Board has received 178 948 tonnes of maize from farmers so far, indicating a 542 percent increase compared to the same period last year, according to the Herald.In a st...

by Business reporter

$160 million boost for Zesa

13 October 2014 | 1580 Views
ZESA Holdings will this week secure a $160 million loan from Stanbic South Africa if a power purchase with Namibia's power utility, Nampower is brokered.The Stanbic loan was extended to Ze...

by Business reporter

Innscor property attached for violating the Competition Act

10 October 2014 | 3656 Views
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...

by Staff reporter

Zimbabwe signs $1.5 billion Hwange power plant expansion deal

10 October 2014 | 2343 Views
Zimbabwe signed a $1.5 billion deal with China's Sinohydro Corp on Friday to expand a coal-fired power plant in the most ambitious move yet to tackle the country's crippling electricity shortages....

by Reuters

Lighthouse Print installs latest HP Latex digital printer

09 October 2014 | 1411 Views
Lighthouse Print has installed the latest HP Latex wide format printer, just over four months after it was launched in Munich, Germany, on May 20. It is the first Zimbabwean company to acquire th...

by Business Reporter

AfrAsia finally pays Chanakira

09 October 2014 | 4343 Views
Mauritian group, AfrAsia Holdings Limited has finally paid for Nigel Chanakira's 30 percent stake in financial services group, AfrAsia Zimbabwe Limited.Chanakira was paid about $2.5 millio...

by Staff reporter

Pick n Pay invests $14 million on Zimbabwe expansion

09 October 2014 | 1746 Views
South African retail giant Pick n Pay has so far invested about $14 million on expansion and upgrading its operations in Zimbabwe.The retail group through its partnership with TM Supermark...

by Staff reporter

Govt urges mining companies to set up refineries

09 October 2014 | 951 Views
GOVERNMENT has urged mining companies operating in the country to set up refineries to beneficiate and value add minerals.Mining has been designated as the anchor for Zimbabwe's medium ter...

by Staff Reporter

Metallon Gold ups productivity

09 October 2014 | 779 Views
Metallon Gold Corporation expects to produce about 500 000 ounces per annum in the next five years as the mining group steps up efforts to strengthen its position as the largest gold producer in t...

by Business reporter

Obsolete machinery impedes Zesa productivity

08 October 2014 | 1458 Views
THE Zimbabwe Electricity Supply Authority (Zesa) is losing about 20 percent of the electricity it generates because of ageing transmission infrastructure, a cabinet minister has revealed.E...

by Staff reporter

Broke NRZ loses $2million to suppliers

08 October 2014 | 2403 Views
THE cash-strapped National Railways of Zimbabwe could have been prejudiced of $2 million after suppliers paid to provide goods failed to do so, according to a 2012 audit report released by Auditor Gen...

by Staff reporter

Zim's unpaid debt dogs Ziscosteel deal

08 October 2014 | 1608 Views
FAILURE by the Zimbabwean government to settle part of Zisco Steel's domestic debt which ballooned to over $200 million up from $72 million in 2010 might jeopardize a new deal with Essar Africa H...

by Business reporter

RBZ releases Meikles funds

07 October 2014 | 1637 Views
MEIKLES Limited says it will now have access to its funds held on deposit by the Reserve Bank of Zimbabwe and will inject approximately $4million into its retail division which it expects to return t...

by Business reporter

Zim local is not so lekker for top 5 supermarkets

06 October 2014 | 2752 Views
Zimbabwe's top five supermarkets Ok, TM, Pick n Pay, Spar and Food World are reluctant to allocate more shelf space to local goods as they have reservations on their quality, efficiency and standa...

by Staff reporter

Kenya Airways increases flights to Zimbabwe

05 October 2014 | 2471 Views
Regional airlines have continued showing confidence in Zimbabwe as a safe travel destination with East African airline, Kenya Airways, increasing its flight frequency to Harare from 14 to 19 times a w...

by Staff reporter

Powertel users face data blackout

03 October 2014 | 2553 Views
POWERTEL, one of the country's leading internet providers has introduced a usage based data system, departing from their weekly and monthly unlimited access which has in the past given the company...

by Staff reporter

ZOL announces new CEO

03 October 2014 | 1908 Views
ZOL Zimbabwe has appointed Denny Marandure to be the new chief executive officer, replacing founder of the internet company David Behr, who is tipped for the chairmanship of the company.Before...

by Staff Reporter

Zimbabwe, Dar Salaam flights successful, says Fastjet

02 October 2014 | 3303 Views
Budget airline Fastjet says it's recently launched Dar es Salaam to Harare flights are performing very well. Company CE ED Winter said although the route including others to Lusaka and Ent...

by Staff Reporter

NSSA donates freezers, pots, groceries to Bumhudzo Old People's Home

01 October 2014 | 1116 Views
National Social Security Authority management yesterday (Tuesday) presented to Bumhudzo Old People's Home two deep freezers, as well as cooking pots, 20 litre buckets and groceries that included c...

by Staff Reporter

Frantic account holders break bank doors demanding cash

30 September 2014 | 4766 Views
FURIOUS Kingdom Bank account holders yesterday damaged electronic glass doors at the bank's Jason Moyo Street branch in Bulawayo demanding their money after the institution limited cash withdraw...

by Loveness Bepete

Air Zimbabwe passengers stranded again

30 September 2014 | 3563 Views
Air Zimbabwe passengers suffered yet another huge delay when those travelling from Harare to Bulawayo arrived in the city at around 1am on Saturday after the flagship carrier again failed to pro...

by Staff reporter

Nissan Zimbabwe loses franchise

30 September 2014 | 3106 Views
Nissan Zimbabwe (Pvt) Limited has lost the franchise as the official distributor of Nissan vehicles in the country and is embarking on a clearance sale for its stock. The clearance sale w...

by Staff reporter

TelOne targets to connect over 20 000 houses by next year

26 September 2014 | 2358 Views
TelOne, targets to fibre connect over 20 000 houses by next year under the $98 million fund from government and China, a company executive has said. Speaking on the side-line for the official ...

by Staff reporter
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