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HCCL splashes $31m on second -hand equipment

Hwange Colliery Company Limited (HCCL) is in yet another embarrassing scandal amid reports that newly commissioned $31,2 million in equipment for open cast mining is second hand.The bulk of th...Read more

HCCL splashes $31m on second -hand equipment

06 July 2015 | 1239 Views
Hwange Colliery Company Limited (HCCL) is in yet another embarrassing scandal amid reports that newly commissioned $31,2 million in equipment for open cast mining is second hand.The bulk of th...

by Thobekile Zhou

MTN CEO quits

06 July 2015 | 4310 Views
MTN Group today announced the resignation of Ahmad Farroukh, CEO of MTN South Africa, which is effective 31 July 2015.Farroukh replaced Zunaid Bulbulia at the end of July 2014."This w...

by Staff Writer

Telecel bounces back with three voice promotions

06 July 2015 | 3362 Views
Resurgent Telecel Zimbabwe has announced plans to launch three new value-packed promotions on their Telecel Go prepaid platform. The three on-net voice call promotions will all be launched early this ...

by Agencies

Telecel to cut salaries

06 July 2015 | 2900 Views
According to an internal letter to staff, Telecel has proposed six options as the company moves to cut costs and improve cash flows. One option is a 20 percent pay cut. Another option is ...

by Staff reporter

ZSE Automated trading fails to go live, postponed

03 July 2015 | 2668 Views
The inaugural Automated Trading System on the Zimbabwe Stock Exchange (ZSE) that was scheduled to go live today has failed to take off amid indications the system still has some technical challenges t...

by Staff reporter

Zimbabwe Stock Exchange sees 32% drop in trading

03 July 2015 | 2312 Views
The Zimbabwe Stock Exchange saw a 32 percent dip in trading in the first six months of the year, as most heavyweight stocks registered declines in volumes of trading. Statistics from the ...

by Staff reporter

Telecel pays licence fee instalment for June

03 July 2015 | 3032 Views
Telecel Zimbabwe has paid its license fee for the month of June newly appointed company CEO, Angeline Vere, has revealed.Mrs. Angeline Vere has announced that Telecel Zimbabwe has paid for...

by Francis Chimanda

Medical aid societies tell parliamentarians why they cannot pay more

30 June 2015 | 5128 Views
The medical aid industry last year experienced claims loss ratios of 95 percent, meaning that for every dollar of contributions collected 95 cents was paid in claims, leaving little for overheads and...

by Agencies

Old Mutual Emerging Markets announces new Finance Director

30 June 2015 | 4577 Views
Old Mutual today announced the appointment of Iain Williamson as the new Finance Director of Old Mutual Emerging Markets (OMEM) with effect from 1 August 2015. He will also join the OMEM board as an E...

by Business Reporter

Zimra to shut down five companies

30 June 2015 | 8687 Views
THE Zimbabwe Revenue Authority (Zimra) has said it has not closed any company, but has identified five companies that would be shut down as it moves to stamp out malpractices, commissioner-general...

by Staff Reporter

Diasporans, mining engineers partner ZMDC

30 June 2015 | 3514 Views
A consortium of Zimbabweans living in the Diaspora and local mining engineers have partnered with the Zimbabwe Mining Development (ZMDC) with a view to inject $40 million to resuscitate three gold...

by Staff reporter

Kwekwe's oldest hotel to reopen

30 June 2015 | 5101 Views
Shamwari Hotel, one of Kwekwe's oldest hotels, is set to reopen after new owners injected close to $2 million for a facelift. The hotel was closed three years ago following a rental dispute accrue...

by Staff reporter

Telecel to retrench, downgrade network coverage

28 June 2015 | 6608 Views
TELECEL Zimbabwe has done away with over 250 contract employees, with inside sources saying more contract and permanent employees were set to lose their jobs from the end of this month, as the company...

by Staff reporter

Zimplats will spend $142 re-opening its Bimha mine

27 June 2015 | 4361 Views
Zimplats will spend $142 million reopening its Bimha mine, which closed in August last year when a shaft collapsed."We managed to avert a potential catastrophe," Acting Chief Executive Officer...

by Bloomberg News

NSSA compliance efforts result in increased pension scheme contributions

27 June 2015 | 4740 Views
Contributions to the National Pension Scheme administered by the National Social Security Authority went up last year by 43 percent, from $173,4 million in 2013 to $248,3 million in 2014.T...

by Business Reporter

Marange Resources technically insolvent

26 June 2015 | 3328 Views
Marange Resources (Pvt) Ltd is now technically insolvent with the company's current liabilities exceeding current assets by a staggering US$74,7 million, an audit report shows. According t...

by Staff reporter

Tomana has been marked - analyst

25 June 2015 | 6633 Views
Political analyst Methuseli Moyo has indicated that Prosecutor General Johannes Tomana has been all along marked by some political leaders and they are now taking advantage of his remarks about th...

by Stephen Jakes

Insurance agent in trouble over $1100 fraud

25 June 2015 | 4726 Views
The Evolution Insurance Company agent  is in trouble after she allegedly defrauded the  company of over $1100.Farai Victor Mutero (26) of New Magwegwe Flats was not asked to plea...

by Stephen Jakes

Choppies set to launch its Gwanda Supermarket tomorrow

24 June 2015 | 6123 Views
BOTSWANA AND JOHANNESBURG Stock Exchange-listed retail chain - Choppies - is set to officially open it Gwanda Supermarket tomorrow 25 June at 9AM. The store is inviting all Gwanda residents to join ...

by Ndou Paul

Cimas opens clinics in High Glen and Kwekwe

24 June 2015 | 4135 Views
Cimas Medical Aid Society has opened a new clinic at High Glen Shopping Centre in Harare's Budiriro suburb. It expects to open another one in Kwekwe along 2nd Avenue before the end of the month. ...

by Chengetai Chinembiri

Econet launches mobile extension service

24 June 2015 | 5799 Views
Mobile telecommunications firm Econet Wireless last Friday launched a service that allows farmers to access extension services from experts through the phone.Dubbed "Dial-a-Mudhumeni", the se...

by New Ziana

Econet Wireless to be disconnected

23 June 2015 | 11449 Views
Econet Wireless is set to be disconnected by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz).Potraz is targeting value-added services (VAS) due to auto registra...

by Staff Reporter

Hwange Colliery of Zimbabwe to export 50 000 metric tonnes of coal to SA

22 June 2015 | 4457 Views
Hwange Colliery of Zimbabwe plans to export 50 000 metric tons of coal to South Africa this year and it's gauging interest from buyers in Europe and Asia, the head of the company said."We are ...

by Staff Reporter

TM Supermarket in wrangle with line managers

20 June 2015 | 7204 Views
TM SUPERMARKETS is embroiled  in another wrangle with the Bulawayo line managers over failure to pay them transport allowances back dated to July 2012.Thembinkosi Nyathi, Itayi Nkomo and ...

by Steve Jacks

Econet cuts staff salaries by 35%

20 June 2015 | 9589 Views
ECONET Wireless, Zimbabwe's largest mobile phone company, is cutting salaries by 35 percent across the board starting in July. The cuts will also be felt at Econet's subsidiaries, Steward Bank, Mutare...

by Clemence Manyukwe

Parliament probes Brainworks Capital

19 June 2015 | 2917 Views
Despite claiming to have sealed indigenisation deals worth over $1 billion in an advisory capacity to government, a local advisory firm has failed to satisfactorily explain why it has decided to write...

by Staff reporter

Rainbow Tourism Group $2m locked in closed bank

19 June 2015 | 4881 Views
HOTELIER Rainbow Tourism Group (RTG) has close to $2 million of its funds locked up in closed Capital Bank.The development will  delay  refurbishment of its Rainbow Towers to mid...

by Staff reporter

Minister Mpofu pleads for Zim Mail salaries case

19 June 2015 | 5480 Views
Minister Mpofu pleads for Zim Mail salaries caseStephen JakesTransport and Infrastructure Development Minister Obert Mpofu who has been dragged to the Labour Court by former employees ...

by Stephen Jakes

Botswana shuts down Kingdom Bank

19 June 2015 | 5753 Views
BOTSWANA'S central bank yesterday announced it had shut down businessman Nigel Chanakira's Kingdom Bank Africa Limited (KBAL) on insolvency grounds. The only remaining bank in Chanakira's banking empi...

by New Ziana

Telecel Zimbabwe appoints female CEO

18 June 2015 | 9502 Views
The Telecel Zimbabwe Board of Directors has appointed of Mrs. Angeline Vere as the Chief Executive Officer of Telecel Zimbabwe (Pvt) Ltd, with effect from June 10, 2015. Telecel's Board Chair...

by Ndou Paul

Cimas puts in place measures to curb drug facility abuse

18 June 2015 | 4215 Views
Cimas Medical Aid Society is putting in place measures to prevent abuse of its online drug facility that was suspended in May. It envisages the facility being restored by the end of September. ...

by Chengetai Chinembiri

Econet to disconnect cellphone lines

17 June 2015 | 15255 Views
ZIMBABWE's largest mobile network operator with over 9 million subscribers, Econet Wireless Zimbabwe, says it will disconnect all Econet lines that have not been in use for the past six months effecti...

by Ndou Paul

Padenga Holdings securities to be dematerialized on 1 July 2015

16 June 2015 | 4946 Views
Pandenga Holdings Limited's securities will be dematerialized and will be cleared and settled on the Central Security Depository (CSD), in an electronic form with effect from Wednesday 1 July 201...

by Ndou Paul

CIMAS threatens legal action over tariff dispute

16 June 2015 | 5510 Views
CIMAS Medical Aid Society has said it could approach the courts for the resolution of a long-standing dispute over a tariff for the sector.The country's second largest medical aid society hol...

by Tawanda Musarurwa

RBZ demonetisation process snubbed

16 June 2015 | 6190 Views
Most Zimbabweans on Monday snubbed the Reserve Bank of Zimbabwe's demonetisation process as a handful of people went to various banks to exchange their worthless local currency.Some clients we...

by Thobekile Zhou

Air Zimbabwe Lusaka flights resumption

15 June 2015 | 3857 Views
Air Zimbabwe Lusaka flights resumption ...

by Staff reporter

Econet acquires Redan Gas

14 June 2015 | 6974 Views
ECONET Wireless Zimbabwe (EWZ) has acquired Redan Gas in a deal that is expected to broaden its renewable energy portfolio.Econet could neither confirm nor deny the transaction last week....

by Staff reporter

Liquid telecom launched free call service in Zimbabwe

14 June 2015 | 5952 Views
Liquid Telecom as subsidiary of Econet Wireless has launched free voice calls from 0867 to 0867 numbers. This is according to an advert in today's Sunday Mail....

by Staff reporter

EcoCash to start SA - Zimbabwe cross border remittances

12 June 2015 | 8738 Views
The South African Reserve Bank (Sarb) now allows remittances into Zimbabwe using the EcoCash mobile money platform, Econet Wireless said late Thursday afternoon.According to ...

by Staff reporter

Kalaa Mpinga booted out of Mwana Africa

10 June 2015 | 6246 Views
Pan-African, multi-commodity mining company Mwana Africa PLC Wednesday announced the departure of Kalaa Mpinga as Chief Executive Officer of the Company with immediate effect.Yat Hoi Ning, fo...

by Staff reporter

Zimbabweans voted off Mwana Africa board

09 June 2015 | 4643 Views
Mr Ngoni Kudenga and Mr Herbert Mashanyare were today voted off the Mwana Africa board at the company's extraordinary general meeting in the United Kingdom.The EGM, which had been requisitione...

by Tawanda Musarurwa

Chief Malisa in gold mine squabbles

09 June 2015 | 5179 Views
The Federation of Small to Medium Scale Miners has intervened in the leadership squabbles at Peace Mine in an effort to resolve the wrangle that is threatening the livelihoods of nearly 5000 people in...

by Staff Reporter

Zim govt to engage Telecel shareholders in Netherlands

09 June 2015 | 4145 Views
Government says foreign investors should follow the rules of the country if they want to invest in Zimbabwe and the Information Communication Technology, Postal and Courier Services Minister Supa...

by Staff reporter

Investors feast on CSC carcass

09 June 2015 | 6439 Views
Private investors have been swooping on some of the firm's assets.Recently, Trek Petroleum, which has a much more visible footprint in the fuel sector, began leasing one of CSC's seven far...

by Staff Reporter

Medical society accused of swindling clients

07 June 2015 | 5404 Views
A local insurance firm, First Mutual Health is allegedly short-changing clients by unilaterally increasing monthly subscriptions while cutting benefits under its medical aid scheme.A client of...

by Staff reporter

JR Goddard completes 200 projects

07 June 2015 | 4339 Views
A LEADING construction company, JR Goddard Contracting Company, has successfully completed at least 200 projects since its inception 32 years ago, a company official has said.JR Goddard Contra...

by Ngonidzashe Chiutsi

Meikles Limited workers in Bulawayo protest

03 June 2015 | 5933 Views
More than 50 former Hospitality and retail group Meikles Limited workers in Bulawayo stage a demonstration protested non-payment of their retrenchment packages.In March, workers were handed ...

by Thobekile Zhou

Delta, Econet join Africa's top companies

03 June 2015 | 3899 Views
Delta and Econet have earned a place among top 250 companies in Africa, underlying the two companies strength despite the tough economic environment obtaining in the country. According to ...

by Staff reporter

Zimbabwe mobile telcos facing tough times

01 June 2015 | 3517 Views
Zimbabwe mobile telecoms operators are facing a tough financial year ahead with voice revenues and profitability likely to take a further knock as the government will effect a further voice tariff red...

by Staff reporter

Xhing Xhong Cement Company to build plant in Zimbabwe

01 June 2015 | 4449 Views
The Masvingo Rural District Council has signed a Memorandum of Understanding with a Chinese company that wants to invest in a cement venture, Xhing Xhong Cement Company.Over 600 families u...

by Staff reporter

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