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KFC to open more branches in Zimbabwe

International fast-food retail giant KFC is planning to open more branches in Zimbabwe, in a development that will result in employment creation in the country.Bruce Layzell,  general man...Read more

KFC to open more branches in Zimbabwe

27 August 2014 | 3542 Views
International fast-food retail giant KFC is planning to open more branches in Zimbabwe, in a development that will result in employment creation in the country.Bruce Layzell,  general man...

by Staff reporter

11 Zimbabwe banks distressed

27 August 2014 | 3366 Views
The Depositors Protection Corporation (DPC) says it is closely watching 11 banks exhibiting signs of financial distress under the Capital, Assets, Management, Earnings, Liquidity and Sensitivity to r...

by Staff reporter

Zera bars Zesa from increasing tariffs

27 August 2014 | 2135 Views
The Zimbabwe Energy Regulatory Authority (ZERA) has turned down an application by the Zimbabwe Energy Distribution Company (ZETDC) to increase electricity tariffs.The power utility had ap...

by Staff Reporter

Zimbabwe unveils banks rescue package

26 August 2014 | 1270 Views
Cabinet has approved the Zimbabwe Asset Management Corporation (Pvt) Ltd (Zamco), a National Special Purpose Vehicle (SPV), to acquire toxic non-performing loans (NPLs) from banks, Reserve Bank of Zim...

by Staff reporter

Stanbic employees in protest for 10% salary increase

26 August 2014 | 2000 Views
DOZENS of bank employees yesterday picketed Stanbic Bank headquarters in Harare to press management at the financial institution to pay its workers a 10% salary increase.The protests were orga...

by Staff Reporter

KFC Zimbabwe franchise's performance exceeds expectations

26 August 2014 | 3069 Views
Kentucky Fried Chicken (KFC)'s performance of its franchise in Zimbabwe has been pleasing and exceeded expectations, General Manager New Africa Markets Bruce Layzell has said. The Zimbabwe op...

by Staff reporter

'Zim telecom companies overcharging consumers'

25 August 2014 | 2339 Views
RATES being quoted by telecommunication companies no longer reflect the cost of providing the services given changes that have taken place since inception of the tariffs, the industry's regulatory bod...

by Staff reporter

TeleCash slashes mobile money fees

25 August 2014 | 2544 Views
Telecash customers can now send money for free to other registered telecash subscribers, following a revision of telecash charges that came into effect last Friday, 22 August 2014.The new tar...

by Staff reporter

Standard Bank workers go on strike

25 August 2014 | 3417 Views
Standard Bank (Stanbic) workers will today stage an industrial action at the financial institution's headquarters in Harare to press for 10% increase in salary and allowances, the Zimbabwe Banks and A...

by Staff reporter

ABC in $38M bargain

24 August 2014 | 1083 Views
ZIMBABWE Stock Exchange (ZSE) listed financial concern, ABC, stole the limelight from index movement towards turnover after striking a special bargain deal worth US$38,05million derived from 46,407,48...

by Staff Reporter

EcoCash accounts for more than 60% of WorldRemit transfers to Zimbabwe in 3 months

23 August 2014 | 3277 Views
London -  More than 60% of all money transfers sent to Zimbabwe through WorldRemit are now received on EcoCash, it was revealed today.The significant landmark comes just three months ...

by Iain Mackenzie

RBZ pays 16 year old Meikles debt

20 August 2014 | 4015 Views
Reserve Bank of Zimbabwe (RBZ) has begun payments of a 16-year-old debt to diversified conglomerate, Meikles Holdings Limited (Meikles).John Moxon, the Meikles chairman yesterday said the grou...

by Staff reporter

Zimplats mine shut down

20 August 2014 | 5077 Views
The Bimha mine in Zimbabwe, operated by Zimplats, has been closed, Implats announced on Wednesday."Implats wishes to inform shareholders and other stakeholders that a decision has now been mad...

by Staff reporter

Egyptair to stop Harare flights

18 August 2014 | 4551 Views
Egyptian airline, Egyptair, has decided to roll back its Zimbabwean operation from next month, adding to woes of a flagging aviation industry, which has been battered by deteriorating economic and...

by Staff reporter

Lion Match factory sold to an Indian businessman for $1,68m

18 August 2014 | 2317 Views
Lion Match Zimbabwe’s factory was on Friday sold for $1,68 million to an Indian businessman who outbid several other businessmen of Asian origin. Bidding for the factory, which includes ...

by Staff reporter

Ecobank sinks $120m into Zimbabwe

18 August 2014 | 2257 Views
Pan African bank, Ecobank Zimbabwe says it has extended and deployed $120 million in lines of credit harnessed from within the Ecobank group and external financiers to support both the local corporat...

by Staff reporter

TM spends $4,5m on shopping complex

18 August 2014 | 3830 Views
TM Supermarkets has spent close to $4,5 million towards refurbishment and stocking of its new state of the art supermarket at the Old Mutual’s Msasa premises. The shopping complex, which...

by Staff reporter

Safeguard fits customised security doors within 48 hours

13 August 2014 | 1763 Views
Safeguard Engineering has increased its capacity to assemble and install made-to-measure folding security doors, offering installation within 48 hours of an order being placed.The security...

by Business Reporter

P&G recognised for its contribution to social and economic investment in Africa

13 August 2014 | 1471 Views
Johannesburg - Procter & Gamble (P&G) recently received the African Leadership Magazine Award for Companies Investing in Africa in recognition of its continued contribution to social and e...

by Business Reporter

Govt should control copper trade - NRZ

13 August 2014 | 1411 Views
The National Railways of Zimbabwe (NRZ) says government should centralise and control the trade of copper and related products in order to stifle the market for vandalised equipment from the state ru...

by Staff Reporter

Air Zimbabwe to resume international flights

12 August 2014 | 5065 Views
Struggling state owned Air Zimbabwe is set to resume international flights just three years after it halted its foreign business due to financial constraints."We are at an advanced stage, our...

by Staff reporter

Econet could have never survived, Learn To 'Connect The Dots' - Masiyiwa

11 August 2014 | 4007 Views
In his August 10th Facebook comment, the founder and director of Econet - Strive Masiyiwa - said Econet could have never survived beyond 2007.Masiyiwa was commenting on, Learn To "Connect The ...

by Staff Reporter

Safeguard introduces mobile time and attendance package

08 August 2014 | 1865 Views
Safeguard Alarms has introduced a versatile employee time and attendance system that can be used anywhere, even away from a company's base at, for instance, a road construction site.The state-...

by Staff reporter

Air Zimbabwe eyes China, London routes

08 August 2014 | 2002 Views
AIR Zimbabwe (Air Zimbabwe) is in negotiations with an international investor to service China and London routes, which is expected to be a turnaround for the local airline, a government official has ...

by Staff reporter

Zimpapers staff to fight 20% pay cut

08 August 2014 | 1831 Views
WORKERS at Zimpapers have told management to expect a fight over plans to cut salaries by about 20 percent, a development the group chief executive claims has been forced by the country's foul econom...

by Staff reporter

Delta Beverages in Zimbabwe indigenisation hoax

08 August 2014 | 1870 Views
Beverage maker, Delta Beverages is non compliant with the Indigenisation and Empowerment Act, parliament was told on Thursday.Giving oral evidence to the Indigenisation and Empowerment Themati...

by Staff reporter

Temporary Suspension of the Bulawayo - Beitbridge Passenger Train Service

08 August 2014 | 3418 Views
The National Railways of Zimbabwe wishes to advise its valued travelling public that the Bulawayo – Beitbridge passenger train service has been temporarily suspended for a period of approximatel...

by Staff Reporter

Econet gets $150 million Afreximbank loan facility

07 August 2014 | 2610 Views
Econet Wireless Global has secured a $150 million loan facility from African Export-Import Bank to expand its operations.In a statement, Afrexim bank said Econet would use the funds to expan...

by Staff reporteer

Trevor Ncube's newspapers battle to stay afloat

07 August 2014 | 3333 Views
WORKERS at Alpha Media Holdings (AMH), owned by businessman Trevor Ncube, have still not been paid their July salaries as the country's ailing economy savages the media sector.This comes as s...

by Staff reporter

Fastjet in maiden Tanzania - Harare flight

06 August 2014 | 3513 Views
Low cost airliner, Fastject flew its maiden flight to Zimbabwe yesterday on the Dar-es Salaam - Harare route. The airliner will service the route twice weekly with one way tickets availabl...

by Staff reporter

Russians in $1.6 billion Zimbabwe platinum mining deal

05 August 2014 | 2300 Views
A Russian consortium is set to invest $1.6 billion in a platinum mining project at Rushchrome Darwendale, following a deal with the Zim government last week.Finance Minister Patrick Chinamasa ...

by Nomalanga Moyo

NRZ owes employees $55 million in salary

05 August 2014 | 1514 Views
HARARE - Struggling National Railways of Zimbabwe (NRZ) owes its employees $55 million in salary arrears for nine months, but has ruled out laying off part of its over 6 500 workforce, Parliament hear...

by Staff Reporter

Biti shoots down Chinamasa's economic projections

04 August 2014 | 4161 Views
MDC Renewal Team leader and former Finance minister Tendai Biti last Friday shot down his successor Patrick Chinamasa's economic projections, saying given the prevailing stagnation in most sectors, th...

by Staff Reporter

'Econet will not engage in price wars,' says Mboweni

01 August 2014 | 4086 Views
Econet Wireless Zimbabwe has indicated that it will not engaging in price wars following the slashing of prices by its competitors, group CE Douglas Mboweni told an AGM today.Mboweni sai...

by Staff reporter

Air Zimbabwe's Chinese made MA60 planes back in the skies

01 August 2014 | 3646 Views
AIR Zimbabwe today relaunches its Harare - Kariba - Victoria Falls route after a seven-year hiatus using the 50-seater Chinese made MA60 planes.The airline will be flying three times a week, a...

by Staff reporter

Telecel launches Transact & Win promo for its telecash service

31 July 2014 | 1554 Views
Telecel Zimbabwe has launched a new promotion for their telecash mobile money service called Transact & Win. The promotion rewards subscribers for using telecash. On offer are prizes includin...

by Staff Reporter

Go-Beer shut down

31 July 2014 | 2931 Views
Gweru City Council on Tuesday resolved to close the municipality-owned beer concern, Go-Beer Breweries after it emerged that the liquor undertaking has been financially straining the local authority....

by Staff reporter

Mine collapse affects Zimplats production

30 July 2014 | 1463 Views
Mining giant, Zimplats says its production capacity has been reduced by an estimated 9,5 percent due to the Bimha Mine fall-out incident.The mining company has begun to implement contingency p...

by Staff reporter

Zesa boss' contract renewed

30 July 2014 | 2249 Views
ZESA Holdings Chief Executive Engineer Josh Chifamba's contract has been renewed for another four years in line with government's corporate governance and remuneration policy framework for chief exec...

by Staff reporter

KLM Dutch Airlines to stop Harare flights

30 July 2014 | 5665 Views
KLM Royal Dutch Airlines has announced plans to stop operating the Amsterdam to Lusaka and Harare route with effect from October this year.KLM Royal Dutch Airlines began operating the Lusaka r...

by Staff reporter

Econet drives towards cashless society

30 July 2014 | 3459 Views
Econet Wireless Chief Executive Officer Douglas Mboweni has predicted that Zimbabwe will be the most "cashless" country in Africa by the end of this year.Speaking at the launch of the company'...

by Staff reporter

EcoCash launches Mobile Money Companion Debit Card in Zimbabwe

30 July 2014 | 4488 Views
Econet's Mobile Money service, EcoCash, today announced a landmark agreement with MasterCard that will significantly assist in reducing cash dependence and increase financial inclusion through the pro...

by Staff reporter

BAT Zimbabwe unit declares 100% dividend

28 July 2014 | 1838 Views
BAT Zimbabwe, the Zimbabwe unit of British American Tobacco, on Friday put a smile on its shareholders' faces after it declared a 100% dividend payout. After recording basic earnings ...

by Staff reporter

Two Zimbabwean banks face collapse

25 July 2014 | 10542 Views
Two more indigenous banks face collapse due to the persisting liquidity crisis' systemic risk inherent in the financial sector, a report released this week indicated.In a 2014 first half analy...

by Staff reporter

Econet dismiss Zimra investigations report as false and defamatory

25 July 2014 | 2373 Views
The Financial Gazette (24/7/2014) carried an article that makes false and defamatory allegations against Econet Wireless concerning the importation of base stations. The person referred to in the ar...

by Press release

Flyafrica fails to fly

25 July 2014 | 3543 Views
New local airline, Flyafrica.com failed to make its inaugural flight from Victoria Falls to Johannesburg  on Wednesday reportedly to fine tune operational logistics, it has emerged.Flyaf...

by Staff reporter

'Zim banks have no capacity to fund mines,' says BAZ

24 July 2014 | 1600 Views
THE banking sector has no capacity to meet financial requirements for the mining industry due to the liquidity crunch facing the economy, the Bankers Association of Zimbabwe president, Sam Malaba, sai...

by Oliver Kazunga

Emirates A380 says 'Namaste Mumbai'

24 July 2014 | 2153 Views
HARARE - Emirates, which flies daily from Harare to Dubai via Lusaka, has commenced its first scheduled Airbus A380 service to India with a daily flight between Dubai and Mumbai.EK500 took off...

by Staff Reporter

Econet embroiled in tax dispute with Zimra

24 July 2014 | 3221 Views
THE Zimbabwe Revenue Authority (ZIMRA)'s tax dragnet has swooped on telecommunications giant, Econet Wireless Zimbabwe, which is now embroiled in a tax dispute with the country's revenue collector o...

by Staff Reporter

Safeguard: Upgraded Video Alarm discharges pepper spray

23 July 2014 | 1340 Views
Safeguard has upgraded its wireless Video Alarm to incorporate a microphone, speakers and defensive material, making it possible for its monitoring centre team to speak to and warn intruders and r...

by Staff Reporter
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