Zimbabwe to revise economic growth downwards
HARARE - Zimbabwe's economic growth projections for this year may be revised downwards on lower revenue collection, while inflation forecasts could be higher than previously expected, Finance Minister Tendai Biti said on Thursday."The first quarter of the year has been an extremely difficult period. We have not been able to meet our revenue targets. The key cause is non-performance of diamonds," Biti told journalists during a quarterly economic update."It's foreseeable...that major projections will be revised downwards." ...Read moreWelshman Ncube and Obert Mpofu to appear before a parliamentary committee
Industry and Commerce Minister Welshman Ncube and Mines Minister Obert Mpofu will soon appear before a parliamentary committee to explain why progress on NewZim Steel, has stalled. NewZim Steel h...
New Dawn revenue increases to $14.86 million for the quarter ended March
New Dawn's consolidated gold production was 8,736 ounces of gold (7,926 ounces attributable) for the quarter ended March 31, 2012, as compared to 6,226 ounces of gold (5,853 ounces attributable) for t...
Zimbabwe seeks London Bullion Market membership
Plans to rejoin the London Bullion Market Association (LBMA) are at an advanced stage as local gold production emerges from the doldrums.Mines and Mining Development minister Obert Mpofu told NewsDay ...
ZSE chief suspended
The Zimbabwe Stock Exchange (ZSE) chief executive officer Emmanuel Munyukwi has been suspended amid reports that the move was linked to his fallout with stockbrokers last year. Impeccable sources said...
Global Alliance Partners gathering a big opportunity for Zim business – Imara
An unprecedented opportunity beckons growth-minded Zimbabwe businesses as executives from member firms of Global Alliance Partners (GAP) prepare to fly into Harare for the organization's first confere...
'Imposition of sanctions on Zim diamond producers, hampering fair trade' - Mpofu
Mines and Mining Development Minister Dr Obert Mpofu on Friday said imposition of sanctions on some of Zimbabwe's diamond producers
is a threat to the country's projected $600 million diamond earning...
Govt to review duty on imported raw materials
Government is expected to review duty on imported raw materials for industry with a view of restoring the competitiveness of locally produced commodities.The arrangement to review downwards duty on im...
Delta Beverages profits surges 38 percent to US$75m
2012 May 10 | 523 Views
DELTA Corporation's profits surged 38 percent to US$75,2 million for the full year ended March 31, 2012, underpinned by growth in volumes and product availability. Total beverages volumes grew by 19 ...
TelOne rolls out ADSL Internet in Mutare, Marondera and Gweru
TelOne Acting MD, Lawrence Nkala, revealed in an article posted by the Sunday News this week that TelOne has expanded ADSL services to more cities and towns successfully. The new locations that now ha...
Global Alliance Partners to gather in Zimbabwe, 21-24 May 2012
2012 May 08 | 649 Views
HARARE: The international member firms of Global Alliance Partners (GAP) will gather in Harare, Zimbabwe on May 21-22 for the 8th semi-annual GAP meeting hosted by Africa partner, the Imara Group. T...
BancABC embarks on a rights offer to raise P356 million
African Banking Corporation Holdings (ABCH) intends to embark on a Rights Offer in which it seeks to raise BWP 356,666,666 (approximately US$ 50.0m) and offers 83,333,333 shares at a price of BWP 4.28...
3 companies proposing to list on the Zimbabwe Stock Exchange
2012 May 08 | 624 Views
The Zimbabwe Stock Exchange (ZSE) listing drought is expected to end amid revelations that three new companies are proposing to list on the local bourse.According to official sources within the marke...
Telecel network to cover 85 percent of the country
ORASCOM Telecom Holdings has said its local unit, Telecel Zimbabwe, will expand its network to cover at least 85 percent of the country. Orascom has invested US$70 million in the company, which ...
Another Bulawayo company faces collapse
A local (Bulawayo) button-making firm, Coronet Buttons and Plastics, is reportedly facing imminent collapse after its general manager quit last month due to mounting salary arrears, dating back to Dec...
Timing drives big interest in Imara's Zimbabwe investor conference
Imara's upcoming Zimbabwe Investor Conference is predicted to be the biggest yet as timing factors drive global interest in corporate developments and potential equity market upside.The Harare event o...
Celsys Limited – Notice of Scheme Meeting
Shareholders are advised that a scheme meeting shall be held on Monday 28th May 2012 at 1000hrs at Royal Harare Golf Club. The purpose of the meeting is to consider and if deemed fit to agree (with or...
Local companies should re-brand
Local companies should re-brand in order to secure and maintain a share of the market, an expert said yesterday.An influx of imported goods and services on the market has created stiff competition whi...
ZITF to block public from future exhibitions
2012 May 03 | 1417 Views
Zimbabwe International Trade Fair Company is planning doing away with public days and transform the exhibition into a proper business platform.This year, the trade fair had just two days on which the ...
Zimbabwe offers great potential as a recovery play - Imara
With low activity still persisting on the market, an improved level of turnover was recorded during the week from US$ 4.9m to US$ 6.6m and thus the daily turnover breached the US$ 1.0m mark. A special...
Air Zimbabwe resumes domestic flights
2012 May 02 | 1257 Views
Air Zimbabwe is set to resume domestic flights today. The airline suspended its domestic flights in January this year after an aircraft servicing the routes developed mechanical faults.Air Zimba...
4 500 workers risk losing their jobs
OVER 4 500 workers at Green Fuel in Chisumbanje risk losing their jobs after the plant ceased operations when oil companies failed to take up 10 million litres of ethanol it produced.At least 700 work...
Zimplats records a 170 percent jump in profit
Harare - Zimplats reported a 170% jump in third-quarter profit on Monday, buoyed by higher platinum prices.Zimplats said January to March operating profit rose to $52m from $19m the previous quarter....
Zimbabwe's Sol Air get IATA code
Zimbabwe's newly licensed private airline, Sol Air has been issued a code as an integral part of the travel industry, and essential for the recognition of an airline, its destinations and its traffic ...
Trade Fair ends on a high note
2012 April 29 | 1572 Views
On Saturday the 53rd edition of Zimbabwe International Trade Fair (ZITF) ended with over 40 000 people paying to catch a glimpse of some of the best exhibitions on display. Industry and Commerce Minis...
Zim companies ignoring health and safety standards
2012 April 28 | 1136 Views
Few companies are reported to be implementing proper occupation health and safety standards, a situation which has seen employees being exposed to various hazards. Concern is being raised by st...
Zimbabwe-China set to make Bulawayo a special economic zone
2012 April 28 | 1682 Views
THE Ministry of Economic Planning and Investment Promotion and China have pledged to work together and make Bulawayo a special economic zone. This was revealed at the Zimbabwe-China conference held at...
Mugabe family's factory commissioning soon
2012 April 27 | 2699 Views
State media reports that the establishment of a multi-million dollar milk factory at the Gushungo Dairy Estate in Mazowe is at an advanced stage with the commissioning of the project expected early n...
MARS workers go on strike over salary dispute
2012 April 27 | 1416 Views
Medical Air Rescue (MARS) workers have downed tools following a salary dispute which they claim has dragged on for over three months with their employer.The workers who were visibly angry and demonstr...
Poor investment policies hindering efforts to tackle Zim economic challenges
Prime minister Morgan Tsvangirai says efforts to tackle the economic challenges affecting the country are being hampered by poor investment policies, the Daily News reported"We are aware of the chall...
Zimdollar accounts remains an obstacle to new foreign direct investment
The chairman of the Parliamentary Committee on Budget, Finance and Investment, Paddy Zhanda said that frozen Zimbabwe dollar accounts will remain an obstacle to new foreign direct investment, if not s...
Zimbabwe Stock Exchange suffers heavy losses
Trading on the Zimbabwe Stock Exchange ended on a low note on the back of huge losses by the blue chip or heavyweight counters. It was not a rosy day for investors within the market as share prices de...
Buy locally produced products says Mutambara
Deputy Prime Minister, Professor Arthur Mutambara has challenged Zimbabweans to buy locally produced products to sustain the local industry.Speaking at the Zimbabwe International Trade Fair (ZITF) Bus...
Econet finalising a syndicated $307 million loan facility
HARARE - Econet is finalising a syndicated $307 million loan facility with a group of international banks, part of which will be used to restructure debt, management told analysts yesterday. CEO ...
Land Rover South Africa and Kingsley Holgate United Against Malaria
2012 April 25 | 1086 Views
Humanitarian adventurer Kingsley Holgate is using adventure to combat malaria and improve and save lives throughout Africa. His humanitarian adventures – many of which are world firsts – have se...
New Dawn increase gold production by 40.3 percent
2012 April 25 | 1004 Views
New Dawn Mining reported consolidated gold production for the quarter ended March 31, 2012 of 8,736 ounces (7,926 ounces attributable to New Dawn, after adjusting for the minority interests' share o...
Econet revenue rise by 24 percent to $611 million
Econet Wireless Zimbabwe, the country's biggest mobile-phone carrier, said profit for the fiscal year through February rose 18 percent to $165.7 million.Revenue climbed 24 percent to $611 million wi...
AVM calls for protection against cheap bus imports
BUS manufacturer AVM Africa has called on the Government to protect the sector from cheap imported buses flooding the local market. AVM is facing stiff competition from imported buses most of which ar...
ZITF roars into life today
2012 April 24 | 1281 Views
THE 53rd edition of the Zimbabwe International Trade Fair (ZITF) begins in Bulawayo today amid calls for businesses to take advantage of the showcase to strike deals that would help revive the city's ...
Government urged to revisit Dimaf conditions
Industry and Commerce minister Welshman Ncube says CABS should revisit the conditions it put on place for struggling Bulawayo companies to access cheap funds.Under the Distressed Industries and Margin...
Bata Shoe Company looking for US$5m to buy machinery
2012 April 23 | 1450 Views
GWERU - SHOE manufacturer, Bata Shoe Company, is seeking at least US$5 million dollars to purchase shoe making equipment.Currently Bata is operating at 60 percent and hopes to be at optimum productio...
Coke and Pepsi change recipe to avoid cancer warning
2012 April 22 | 2153 Views
Coca-Cola and Pepsi are changing the way they make the caramel colouring used in their drinks as a result of a California law that mandates drinks containing a certain level of carcinogens bear a can...
Zimbabwe fuel imports increases by 24,8 percent
2012 April 21 | 1502 Views
A trade report by ZimTrade released during the annual exporters' conference in Harare this week indicated that Zimbabwe's petroleum imports were 24,8 percent higher during the first nine months of 20...
US invites Mpofu to the Kimberly Process Certification Scheme meeting
2012 April 20 | 1681 Views
THE United States government wants Mines and Mining Development Minister Obert Mpofu and his delegation to attend the Kimberly Process Certification Scheme meeting set for June this year.Sources said ...
Ndlovu takes over at RioZim
Rio Zimbabwe Limited (RioZim) has appointed Ashton Ndlovu, a former chairman of KW Blasting, as new managing director to replace long-serving Josphat Sachikonye, who stepped down last month.RioZIm al...
Delta Beverages beer sales up 23 percent
2012 April 19 | 1656 Views
DELTA Beverages lager volumes grew by 23 percent propped up by its massive capital investment in capacity upgrades.The growth in Delta's lager volumes spurred overall volume growth for global brewer...
Imara Edwards Securities Zimbabwe Stock Exchange weekly review
2012 April 19 | 1284 Views
Yet another week characterised by subdued trading activity as the daily average value traded failed to breach the US$ 1.0m mark. The weekly turnover retreated to US$ 3.5 million from a spectacular am...
New Dawn initiates 8,000 meter exploration project in Zimbabwe
2012 April 17 | 1393 Views
New Dawn Mining has commenced an 8,000 meter diamond drilling program at its Camperdown Mine gold project, which is part of the Company's Gweru Gold Camp located in the Shurugwi District of Zimbabwe....
Dr Labode steps down as Matabeleland CZI President
A Technical director at Dunlop in Bulawayo has been elected to head the Matabeleland chapter of the Confederation of Zimbabwe Industries (CZI).Although details are still sketchy, Bulawayo24 understa...
TM's rebranding to Pick 'n Pay will take 3 years
2012 April 17 | 2162 Views
SOUTH Africa's Pick 'n Pay, which is rebranding some of TM Supermarkets after acquiring majority stake in the firm, says the exercise would take at least three years to complete. The Cape Town-headqu...
Zimbabwe Revenue Authority surpasses revenue target
THE Zimbabwe Revenue Authority has surpassed its first quarter revenue target by 8 percent, collecting US$773,7 million on the back of improved compliance levels by clients. The revenue authority had ...
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