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Brainworks in $35 million capital raise

Local investment holding firm Brainworks Capital Management has 'successfully' raised $35 million following the closure of a capital raise last week. The proceeds will be used to strengthen va...Read more

Brainworks in $35 million capital raise

30 March 2015 | 731 Views
Local investment holding firm Brainworks Capital Management has 'successfully' raised $35 million following the closure of a capital raise last week. The proceeds will be used to strengthen va...

by Staff reporter

Zim government, Econet cross swords

29 March 2015 | 1675 Views
GOVERNMENT and Econet Wireless Zimbabwe have crossed swords over the former's stated intention to coax investors in the mobile telecommunications sector to share infrastructure, raising a protracted s...

by Staff reporter

Brainworks withdraws $20m Telecel offer after rights offer close

27 March 2015 | 1454 Views
Brainworks Capital Management has withdrawn the offer that it had made to Empowerment Corporation to purchase its 40 percent shareholding in Telecel Zimbabwe three days after closing on its fully unde...

by Staff reporter

Air Zimbabwe keen to expand routes

26 March 2015 | 1726 Views
Air Zimbabwe said on Thursday it is keen to expand its regional and international route network but is being bogged down by its small fleet and inability to acquire new craft.The national carr...

by Staff reporter

Econet Wireless clamps down on Zimbabwe media freedom?

26 March 2015 | 5515 Views
ZIMBABWE business news agency, The Source, was raided this afternoon by the Deputy sheriff's department following a High Court order granted to Zimbabwe mobile phone operator Econet Wireless and Stew...

by Staff reporter

Local production trebles sales of Xpanda security gates

26 March 2015 | 990 Views
Sales of Xpanda security gates in Zimbabwe have shot up over the last few months, now that the Xpanda T-Max and X-Door are being assembled locally by Safeguard Engineering, the official Zimbabwe agent...

by Mike Hamilton

Meikles workers challenge retrenchment

26 March 2015 | 1142 Views
Meikles workers who received letters of retrenchment last Friday have instituted legal proceedings against their employer in an effort to get their retrenchment matter resolved.The workers...

by Staff reporter

MBCA ventures into vehicle finance

26 March 2015 | 2929 Views
DULY'S Motors has entered into a partnership with MBCA Bank to offer loans to individuals and companies for the purchase of new vehicles from its branches. Duly's general manager operations-we...

by Charity Ruzvidzo

Royal Bank directors must be arrested

25 March 2015 | 1507 Views
Royal Bank creditors and depositors have authorised the bank's liquidator to institute legal proceedings against former directors for abusing depositors' funds. This came after the liquid...

by Staff reporter

Fastjet receives its air service permit in Zimbabwe

25 March 2015 | 2913 Views
African airline Fastjet has received an Air Service Permit (ASP) in Zimbabwe, a major step towards a full Air Operating Certificate (AOC), Proactiveinvestors reported.Ed Winter, interim chairm...

by Staff reporter

Local Company to Host Food Tasting expo

24 March 2015 | 1425 Views
A Bulawayo Based Company will be hosting a first of its kind Food Tasting Expo for people intending to get married and corporate companies in April as part of efforts to expose the public to various c...

by Mandlenkosi Chinula

Zim firm 'nudged' out of oil factory deal

23 March 2015 | 2721 Views
Zimbabwean company, United Refineries Limited (URL) claims to have been sidelined in a partnership to set up a P100 million cooking oil refinery factory with Botswana in Francistown.Officials ...

by Thobekile Zhou

NewsDay editor quits

23 March 2015 | 6023 Views
NEWSDAY Editor Nevanji Madanhire has resigned from Alpha Media Holdings as part of 'the organisations restructuring exercise' Bulawayo24 News can reveal.Madanhire's reasons for quitting ar...

by Ndou Paul

German Director for Sub-Saharan Africa to visit Zimbabwe

22 March 2015 | 1178 Views
The Director General for Sub-Saharan Africa and Sahel of the German Federal Foreign Office, Ambassador Georg Schmidt will visit Zimbabwe from tomorrow (23 March) to March 24 to meet government of ...

by Stephen Jakes

Retrenching firms struggle to raise packages - ZCTU

21 March 2015 | 4438 Views
Zimbabwe Congress of Trade Union (ZCTU)  Secretary General, Japhet Moyo has said many struggling firms are heading into a crisis as they are keen to lay-off workers but do not have money for ...

by Thobekile Zhou

Meikles sack 33 workers in Bulawayo today

20 March 2015 | 5829 Views
THIRTY THREE Meikles Limited workers in Bulawayo were today served with employment termination letters in a move that left them shocked.Only ten workers were spared the chop.The sack...

by Thobekile Zhou

Volkswagen re-enter Zimbabwe

20 March 2015 | 4807 Views
One of the world leading car manufactures, Volkswagen popularly known as VW is set to re-launch its Harare base as it plans to be among the top five motoring brand in the country within five years....

by Thobekile Zhou

Sanlam to expand into Zimbabwe

20 March 2015 | 2106 Views
SANLAM Emerging Markets says it is looking to expand into Zimbabwe in the next year or two.If it expands into Zimbabwe, Sanlam will get an opportunity to sell the full gamut of nonbanking fina...

by Staff reporter

Telecel teeters on brink of insolvency

20 March 2015 | 1235 Views
Zimbabwe's beleaguered mobile network operator Telecel Zimbabwe's finances are in a sorry state amid indications the company is bankrupt. The company reportedly has management inefficienci...

by Staff reporter

FlyAfrica to start flying the Joburg - Harare route twice a day

19 March 2015 | 4608 Views
There's more competition on the expensive Johannesburg to Harare route: low cost airline FlyAfrica has announced that it will soon start flying the Johannesburg to Harare route twice a day and cut pri...

by Staff reporter

TM Pick n Pay - Important Notice

18 March 2015 | 11197 Views
TM Pick n Pay claims that there are frauds using its name on social media to advertise for nonexistent jobs at TM Pick n Pay.Below it the full notice flighted with the local press today:...

by Ndou Paul

Marvo Stationary workers go for 27 months without pay

18 March 2015 | 1186 Views
Marvo Stationary workers are wallowing in serious crisis as they have gone for 27 months without pay.One of the affected workers Mbonisi Gumbo said the situation may sound unbelievable yet ver...

by Stephen Jakes

Stanbic Bank Zimbabwe named best emerging markets bank

18 March 2015 | 1079 Views
Stanbic Bank Zimbabwe has been named the Best Emerging Markets Bank in Zimbabwe by a US-headquartered financial magazine.This is the 22nd year that the Global Finance magazine has selecte...

by Staff reporter

Southern Eye turns into an insert

16 March 2015 | 5285 Views
Alpha Media Holdings (AMH) officials have finally decided to shut down Bulawayo based Southern Eye publication and make it an insert in the NewsDay, we can reveal....

by Staff Reporter

Air Zimbabwe insolvent

16 March 2015 | 2339 Views
State-owned Air Zimbabwe needs $260 million in new capital because it is insolvent and wants the government to take over $298 million in debts to help turn around the loss-making carrier, its official...

by Reuters

Telecel statement on possible 'closure'

15 March 2015 | 3683 Views
Telecel Zimbabwe has taken the government's recent announcement on its licensing and shareholding non-compliance, very seriously. Our shareholders are engaging with relevant stakeholders and are w...

by Staff Reporter

Telecel International executives jet in

15 March 2015 | 2718 Views
Telecel International (TI) executives are in Zimbabwe to discuss the fate of its local unit following government threats to shut down the mobile operator.This also comes as two of Empowerment ...

by Staff reporter

'We are not going down,' says Telecel

13 March 2015 | 2909 Views
Zimbabwe's second largest mobile telecoms service provider Telecel Zimbabwe says it working "tirelessly" to comply with Government directives.This follows an announcement by Information C...

by Staff reporter

Telecel approaches govt to resolve its licence row

13 March 2015 | 1870 Views
Shareholders of Telecel Zimbabwe have approached engaging with relevant stakeholders to resolve issues surrounding its licencing and non-compliance with local owner...

by Staff reporter

'Telecel has not been shut down,' says Jonathan Moyo

13 March 2015 | 3891 Views
Media, Information and Broadcasting Services minister Professor Jonathan Moyo says Telecel Zimbabwe has not been shut down, this follows widely circulated reports claiming that Cabinet has approved ...

by Staff reporter

Political vultures circle over Telecel

13 March 2015 | 2635 Views
Political vultures are circling over the country's third largest mobile network operator Telecel Zimbabwe currently facing withdrawal of its operating licence due to non-payment of fees amid stron...

by Staff reporter

Telecel saga misinformation and sensationalism

13 March 2015 | 1782 Views
From what has been unfolding in this playground fight for Telecel Zimbabwe, a pattern of misinformation and sensationalism has formed. "Government Orders Telecel to Stop Operating," that hea...

by Staff reporter

Zim unveils SADC AfDB Presidential candidate

12 March 2015 | 2196 Views
The Minister of Finance and Economic Development, Patrick Chinamasa, will today in the  evening introduce Thomas Zondo Sakala as the  Southern African Development Community  (SADC) ...

by Stephen Jakes

Telecel closure generate mixed views

12 March 2015 | 3610 Views
The planned shutdown of TELECEL Zimbabwe has sent panic waves among its subscribers who are left in a quandary.On Wednesday, government announced that Cabinet has approved recommendations to s...

by Thobekile Zhou

Solar Power Company targets to connect 30megawatts to national grid by 2016

12 March 2015 | 1112 Views
Nearly 80% of Zimbabwe's rural households do not have access to electricity, and even those connected to the grid face frequent outages.In 2013 Zimbabwean entrepreneur Simbarashe Mhuriro (...

by Stephen Jakes

Radar count on private home developers for growth

12 March 2015 | 1221 Views
RADAR Holdings Limited is banking on private home developers to increase business volumes as demand remained subdued.The company said sales were mainly driven by private home developers which ...

by Thobekile Zhou

Telecel ordered to stop Zimbabwe operations

11 March 2015 | 3234 Views
Government has directed mobile phone operator, Telecel Zimbabwe to stop operating, saying the company has no license and is also not complying with the country's laws.The Minister of Infor...

by Staff reporter

Safeguard app makes remote control of alarm system possible

11 March 2015 | 976 Views
It is now possible to operate one's alarm system remotely using a Safeguard smartphone application. It is even possible, to open and close the gate to one's property and switch lights on and off w...

by Business Reporter

Zim solar power company awarded national project status

11 March 2015 | 1446 Views
Zimbabwe's Oursun Energy (Private) Ltd solar power company has been awarded the National Project Status to undertake projects with national appeal so as to augment the notational power company Zim...

by Stephen Jakes

ZUPCO left with 18 buses

11 March 2015 | 6176 Views
THE Zimbabwe Passenger Company (ZUPCO) is only left with a mere 18 buses to service the country, parliament heard on Tuesday.Presenting the first report of the portfolio committee on local gov...

by Thobekile Zhou

Burger King coming to Zimbabwe?

09 March 2015 | 3817 Views
BURGER King Worldwide plans to enter new African countries before the end of the year as it follows Yum! Brands' KFC chain in tapping demand from the continent's middle class."Our African expa...

by Agency Staff

Zimbabwe platinum smelter set to start next year

06 March 2015 | 4280 Views
Platinum-mining companies in Zimbabwe, which has the world's biggest reserves of the metal after South Africa, will probably be processing the metal in the country by the middle of next year, acco...

by Bloomberg News

Truworths fall on hard times

06 March 2015 | 4272 Views
Clothing retailer - Truworths suffered a 18,6% decline in sales but experienced a 3,6% increases in account holders projecting a very difficult trading year.The group said merchandise sale...

by Thobekile Zhou

Pig production to increase by 28%

06 March 2015 | 2246 Views
Colcom Holdings Limited has indicated that pig production will grow by 28 % by July after experiencing a 1% drop in the year ending December 31.The firms said its Tripple C Farms delivered 28 ...

by Thobekile Zhou

Workers' wages locked up in defunct bank

06 March 2015 | 1572 Views
It never rains for employees of AfrAsia Bank Zimbabwe Ltd, which was closed on Tuesday last week, as it emerged this week that a significant chunk of their January and February salaries are locked...

by Staff reporter

Scam to overvalue Telecel exposed

06 March 2015 | 1044 Views
A Scam to overvalue Telecel Zimbabwe has been exposed amid reports that the company is practically bankrupt with no ability to meet its short-term and long-term liabilities. In addition, t...

by Staff reporter

Nkosana Moyo joins Implats board

05 March 2015 | 4215 Views
Former Industry and International Trade minister Nkosana Moyo has joined South Africa's Impala Platinum, the world's second largest platinum producer and Zimplats' parent company, as an independent no...

by Mafu Sithabile

iWayAfrica Zimbabwe achieves Cisco Certified Partner Status

05 March 2015 | 3343 Views
iWayAfrica Zimbabwe, a Gondwana International Network (GIN) company has been awarded its Cisco Select Certified Partner status. Achieving this status certifies that iWayAfrica Zimbabwe has demonst...

by Watt Communications

New Intercape - Pathfinder coaches release destination routes

05 March 2015 | 6495 Views
The new Intercape - Pathfinder coach began operations under a joint partnership between locally owned Pathfinder and South African registered Intercape.The company will ply the Johannesburg-Bu...

by Staff reporter

New rules for money transfer agencies

05 March 2015 | 2747 Views
The RBZ has introduced new regulations for money transfer agencies and bureaux de change, change foreigners barred from having shareholding in the institutions. Morris Mpofu, the central b...

by Staff reporter
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