Breaking News

Strong first-half earnings performance by Imara

Imara, the pan-African financial services group, has reported "pleasing" earnings growth for the six months to October 31, 2014, with profit after tax of P10.94 million, up 85% from P5.9 million in th...Read more

Strong first-half earnings performance by Imara

26 January 2015 | 623 Views
Imara, the pan-African financial services group, has reported "pleasing" earnings growth for the six months to October 31, 2014, with profit after tax of P10.94 million, up 85% from P5.9 million in th...

by Staff reporter

Innscor boss yet to secure Zimbabwe work permit

26 January 2015 | 1842 Views
Innscor's Antonio Fourie is yet to secure a Zimbabwean work permit and is still waiting for the paper after submitting the requirements to Immigration departments. Fourie said the process inv...

by Staff reporter

Bata shoe company takes standards up

25 January 2015 | 3155 Views
Bata yesterday opened its rebranded shops in Harare in a move to match international standards.Two shops that now meet international standards were opened along First Street and Joina City in ...

by Staff Reporter

Ministry accuses retailers of cheating customers

23 January 2015 | 3720 Views
THE Ministry of Industry and Commerce has accused retailers of cheating customers by under packing commodities, warning that they risk being slapped with penalties, Radio Dialogue reported....

by Staff Reporter

Zimbabwe to hold second local diamond auction in February

22 January 2015 | 1148 Views
Zimbabwe is set to hold its second local diamond auction at the beginning of next month in a move to maximize diamond revenue, a Ministry Of mines official has said.Permanent secretary of Mine...

by Funny Hudzerema

'Zimbabwe needs more entrepreneurs,' says Chinamasa

22 January 2015 | 2169 Views
The Zimbabwean economy is in desperate need of entrepreneurs who take the lead in securing foreign investment that will help their companies recover from the effects of the liquidity challenges faced...

by Rumbidzayi Zinyuke

Dr Mambondiani appointed Steward Bank acting CEO

22 January 2015 | 4285 Views
Lance Mambondiani has been appointed the Acting CEO at Steward Bank as his boss, Kwanele Ngwenya leaves the organisation at the end of the month. According to ...

by Staff reporter

Zimbabwean economy turns many to gambling

22 January 2015 | 2512 Views
THERE is nothing in Zimbabwe that spells a crisis more than a long winding queue. The zigzagging length of humanity has from time immemorial and recorded history - from the American great depression ...

by Tendai Makaripe

Telecel executive expected in Zimbabwe this week

22 January 2015 | 2988 Views
A Telecel International delegation is expected in Zimbabwe this week to discuss plans to off-load its local unit sources said. This comes amid a crises around Telecel Zimbabwe's licence, ...

by Staff reporter

Innscor embraces Zimbabwe's unwanted 'Bond Coins'

22 January 2015 | 3073 Views
LEADING food processing company Innscor Africa has come out in full support of the controversial bond coins saying their introduction by the Reserve Bank of Zimbabwe last December has resulted in the...

by Staff reporter

Royal Bank creditors to submit claims next week

21 January 2015 | 1453 Views
Defunct Royal Bank Zimbabwe (Pvt) Ltd's creditors and members will next week meet with the Deposit Protection Board (DPC) before the Master of High Court for the submission of claims.The meeti...

by Tawanda Musarurwa

AfrAsia Zimbabwe to retrench more workers

21 January 2015 | 1719 Views
AfrAsia Zimbabwe Holdings Limited (AZHL) plans to retrench more staff as part of the group's rationalisation programme. Last year, AZHL retrenched 83 employees. Company spokesperson Sekai Chit...

by Staff reporter

Telecel operations hang in the balance

21 January 2015 | 2827 Views
Telecel Zimbabwe (Private) Limited (Telecel)'s operations are hanging in the balance as the country's mobile regulator has threatened to withdraw its licence due to non-compliance with empowerment la...

by Staff reporter

Gap between lending and saving rates in Zimbabwe remains ridiculously high

20 January 2015 | 1816 Views
The gap between lending and deposit rates in Zimbabwe remains high despite showing a decline in the week ending 9 January 2015, official figures from the Reserve Bank of Zimbabwe (RBZ) show....

by Staff reporter

GM expands market share in Zimbabwe

20 January 2015 | 2104 Views
General Motors (GM) Zimbabwe recorded an increase in sales for the year to December 2014 as the company market share rose to 20 percent.This comes as the firm's authorized local dealer, Autowo...

by Staff reporter

Econet CEO scoops business leadership awards

20 January 2015 | 4764 Views
Zimbabwe continues to receive global recognition for its entrepreneurship, with Econet Wireless Zimbabwe CEO Douglas Mboweni recently receiving a top international award for business leadership....

by Staff reporter

Delta's revenue drops 10%

19 January 2015 | 1477 Views
Delta's revenue for the third quarter to December is down 10%. In a trading update, Delta indicated that the performance is reflective of the subdued consumer spending during the traditio...

by Staff reporter

NetOne gets $65 million for network expansion

19 January 2015 | 1484 Views
The Exim Bank of China has released $65 million for NetOne's network expansion. The money, which is a 30 percent deposit of the total credit facility, was released to Huawei International of Chin...

by Staff reporter

'Innscor systematically retrenching black Zimbabwean managers'

18 January 2015 | 5017 Views
Diversified group, Innscor Africa has been sucked into the vortex of a racial storm amid reports of systemic "retrenchments" of black managers at the expense of "white expatriates" mainly from South ...

by Richard Chidza

'Zimbabwe ready to engage international investors'

18 January 2015 | 3821 Views
GOVERNMENT is willing and ready to engage investors and international partners to drive the economic development agenda of the country, a Ministry of Finance and Economic Development official has said...

by Staff reporter

NSSA to get a building society licence

18 January 2015 | 3204 Views
A consultant is putting together additional information required by the Reserve Bank of Zimbabwe (RBZ) to issue out a building society licence to the National Social Security Authority (NSSA)....

by Staff reporter

Alarms to deter Zimbabwe telecom theft

16 January 2015 | 1622 Views
The next time you hear an alarm in Zimbabwe, it may not be from a vehicle or bank security system.In fact, it may be related to theft of telecommunications equipment or infrastructure....

by Staff reporter

Air Zimbabwe to increase domestic, regional routes

16 January 2015 | 1720 Views
Air Zimbabwe is aiming to increase its carrying capacity this year through the introduction of new routes and by beefing up its equipment. The airlines' public relations manager, Shingai T...

by Staff reporter

Zimbabwe misses gold target

16 January 2015 | 1188 Views
Zimbabwe has marginally missed gold output for 2014 after deliveries reached 13,9 tonnes in the year to December against a target of 14,5 tonnes, latest data shows. Statistics from the Fidelit...

by Staff reporter

Zimbabwe inflation falls to -0.80%

15 January 2015 | 2264 Views
Zimbabwe's consumer prices fell to 80 basis points or 0.8% in December on a year-on-year basis compared to a 78 basis points or 0.78% decline in November, the statistical agency Zimstats said on Thur...

by Reuters

Chinamasa increases duty on fuel

15 January 2015 | 3777 Views
Government has increased duty on fuel as means of raising revenue against the backdrop of a thinning tax base. Finance Minister Patrick Chinamasa yesterday gazetted the increase with...

by Staff reporter

Allan Gray positive on Zimbabwean equities

15 January 2015 | 1464 Views
A SLUMP in Zimbabwean equities to near two-year lows is emboldening one of the largest money managers in South Africa to keep looking beyond the nation's economic woes for returns.Allan Gray, ...

by Neo Khanyile I Bloomberg

Bulawayo business community remains hopeful

15 January 2015 | 1564 Views
THE Bulawayo business community says it remains hopeful for a turnaround this year, despite severe operational challenges experienced in 2014.Bulawayo businessman, Tshidzanani Malaba, said he...

by Mandla Tshuma

The ACBF, ECA to sign MOU on partnership

14 January 2015 | 2581 Views
The United Nations Economic Commission for Africa (ECA) represented by Dr. Abdalla Hamdock, Deputy Executive Secretary, ECA and Prof. Emmanuel Nnadozie, Executive Secretary of the African Capacity Bui...

by Susan Mwiti

4 Signs that it is time to replace your ERP system

14 January 2015 | 1575 Views
The enterprise resource planning (ERP) market is evolving at a rapid pace as a result of technology innovation. At the same time, most businesses are changing themselves as they try to keep up wit...

by Jeremy Waterman, managing director of Sage ERP Africa

New twist to Intermarket, ZB saga

14 January 2015 | 4165 Views
In a surprise turn of events in the ZB Financial Holdings and Intermarket Holdings Limited dispute, ex-Reserve Bank governor Gideon Gono has acceded that Nicholas Vingirai must be given back his asset...

by Staff reporter

Net Seven Real Estate branch ordered to stop trading

13 January 2015 | 3182 Views
THE Estate Agents Council of (EAC) Zimbabwe has ordered the Net Seven Real Estate Bulawayo branch to stop trading until further notice pending finalisation of investigations after clients complained t...

by Staff reporter

DHL resists Zimbabwe indigenisation plans

11 January 2015 | 3750 Views
German multi-national courier service company - Deutsche Post International BV (DHL) - reversed an indigenisation deal it entered into with a Zimbabwean firm - Solbase Investments Private Limited - a...

by Staff reporter

Obert Mpofu's bank property attached over $1.5 million debt

09 January 2015 | 4789 Views
Allied Bank's fortunes have taken a turn for the worse with property from 5 Harare branches being attached by the deputy sheriff's office over a US$1.5 million debt.The closure of Allied Bank,...

by Staff reporter

Zimbabwe loses $2,6 billion in trade mis-invoicing

09 January 2015 | 1777 Views
Zimbabwe's current trade imbalance may be attributed to trade mis-invoicing, which has prejudiced the country of $2,6 billion through illicit financial outflows between 2003 and 2012, a new report sho...

by Tawanda Musarurwa

Kwanele Ngwenya forced out of Steward Bank

09 January 2015 | 4342 Views
STEWARD Bank chief executive officer Mr Kwanele Ngwenya has been forced out of the banking institution after building the bank to what it is now.Sources at the institution say Mr Ngwenya met h...

by Staff reporter

Fraudulent Filling Station - workers face uncertain future

08 January 2015 | 6563 Views
Indigenous fuel importing company Glow Petroleum faces a bleak future as investigations into allegations of massive customs duty fraud intensify.Reports from company sources in Harare clai...

by Staff Reporter

Obert Mpofu's bank collapses

08 January 2015 | 7471 Views
HARARE - The troubled Allied Bank has reportedly surrendered its banking licence after failing to inject more capital to keep it afloat due to economic hardship.In a statement, the RBZ sa...

by Staff Reporter

Zimbabwe in 'coins conundrum'

08 January 2015 | 6433 Views
Nobody wanted the Zimbabwe dollar, so the country dumped it for the US dollar in 2009 to stave off economic collapse and sky-rocketing hyperinflation.Now nobody wants the "bond coins" it put i...

by Reuters

AfrAsia excludes Zim unit from the group's consolidated accounts

08 January 2015 | 3008 Views
Mauritius based AfrAsia Bank Limited (AfrAsia) has decided to exclude its trouble Zimbabwean unit AfrAsia Zimbabwe Holdings Limited (AZHL) from the group's consolidated accounts in a move it said...

by Staff reporter

Zimbabwe welcomes fourth mobile telecom operator

07 January 2015 | 9658 Views
Powertel, a subsidiary of state owned power company, Zimbabwe Electricity Supply Authority (ZESA) Holdings, has been unveiled as the southern African country's fourth mobile network service.Cu...

by Staff reporter

Zimbabwe's minerals export earnings decline

07 January 2015 | 1010 Views
Zimbabwe's diamond export earnings for the month of November went down 58,4 percent in November to $6,6 million from $16 million in October, figures from Zimstats have shown.Unsorted diamonds ...

by Rumbidzayi Zinyuke

Black Zimbabwean appointed Innscor Chairman

06 January 2015 | 4025 Views
Innscor Africa Limited has appointed commercial lawyer Addington Chinake as its new Chairman to replace David Morgan. While the ZSE listed conglomerate was reportedly finalising the formal...

by Staff reporter

Mutasa ups stake in Masawara

06 January 2015 | 4874 Views
Business mogul Shingi Mutasa has through FMI Holdings Private Limited increased his shareholding in Masawara plc to 51.32% of the company issued share capital. According to the Jersey regi...

by Staff reporter

Zimbabwe's 2015 National Budget is nothing but hot air

05 January 2015 | 993 Views
The 2015 National Budget presented late November is another clear indication that Zanu-PF government continues to run the country in a toxic and retrogressive manner. Sadly, for the people...

by Staff reporter

Fidelity Life housing project rolls out

05 January 2015 | 2950 Views
Insurance conglomerate Fidelity Life Assurance has earmarked the allocation of stands in the first phase of its two residential housing development projects beginning March this year. Init...

by Staff reporter

Teething problems for Bond coins

05 January 2015 | 3227 Views
Only US$2.5 million worth of bond coins out of the US$10 million set aside are presently circulating on the local market as banks under ordered them, an official has said. As a result, des...

by Staff reporter

CABS introduced new product for paid-up clients

05 January 2015 | 5827 Views
ZIMBABWE'S biggest mortgage lender, CABS, has introduced a new product, Equity Release finance which allows paid up customers to re-borrow 50% of the value of the paid up properties over a five-year p...

by Business Reporter

Zim experiences increase in gold production

05 January 2015 | 1513 Views
ZIMBABWE has experienced increased gold production mainly driven by small-scale miners despite the fall in gold prices on the international market, a new Africa Development Bank (AfDB) report has said...

by Staff Reporter

Econet finally slashes tariffs

04 January 2015 | 3194 Views
The country's largest telecommunications company, Econet Wireless has slashed tariffs by more than 30 percent in line with a Government directive which came into effect on January 1, 2015 in spite o...

by Staff Reporter

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