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Rio Tinto defends Zimbabwe diamond sale

Rio Tinto defended its decision to sell a 78% stake in Murowa Diamonds and Sengwa Colliery to RZ Murowa Holdings - a transaction that has been criticised by the Zimbabwean government amid possible dea...Read more

Rio Tinto defends Zimbabwe diamond sale

25 May 2016 | 743 Views
Rio Tinto defended its decision to sell a 78% stake in Murowa Diamonds and Sengwa Colliery to RZ Murowa Holdings - a transaction that has been criticised by the Zimbabwean government amid possible dea...

by miningmx

Cimas launches health and wellness plan

24 May 2016 | 882 Views
Cimas Medical Aid Society this (Tuesday) evening launched a health and wellness plan, dubbed iGo, that its members on its Private Hospital and MedExec packages can subscribe to. The plan encou...

by Agencies

POSB launches youth account

24 May 2016 | 1195 Views
POSB has launched a Youth Account that does not attract bank charges targeting youths between the ages 16 to 24.The bank's management said the Youth Account is aimed at promoting banking among...

by Nqobile Tshili

PTA Bank to Open Regional Office in Addis Ababa

23 May 2016 | 681 Views
The Eastern and Southern African Trade and Development Bank (PTA Bank) has signed today a Memorandum of Understanding (MoU) that would enable it to open a regional office in Addis Ababa with Ministry ...

by Staff Reporter

STANDARD Bank has been hit by clever fraudsters in Japan.

23 May 2016 | 4110 Views
According to a report in Business Day today, a data leak on 15 May resulted in ¥1.4bn (almost R199 million) being stolen from about 1 400 automated teller machines (ATMs) in Tokyo.Standard Ba...

by Staff Reporter

Govt waives indigenisation on Air Zimbabwe

23 May 2016 | 2518 Views
VICTORIA FALLS - Government has waived its controversial indigenisation policy to pave way for the recapitalisation of troubled national airline, Air Zimbabwe.Enacted in 2008, indigenisati...

by Staff reporter

Mobile payment service introduced in South Africa

23 May 2016 | 3204 Views
Unbanked South Africans in rural communities and townships can now access a variety of financial services through MobiCash, a recently introduced mobile payment services platform.According to ...

by MobiCash creates wider channels for users to transact without withdrawing funds, says MobiCash's Donald Mudenge.

NetOne manages to set up 652 base stations across the country

23 May 2016 | 1724 Views
The government owned mobile network provider NetOne has reportedly recorded significant grown as it has since managed to set up 652 base stations across the country and having a combination of 3G and ...

by Stephen Jakes

New building society to spur construction

22 May 2016 | 2491 Views
THE launch of the National Building Society, wholly owned by statutory body the National Social Security Authority, is widely expected to provide relief to a construction industry that has been seriou...

by Staff Reporter

Tobacco farmers earn more than US$200m

22 May 2016 | 806 Views
Tobacco farmers have grossed more than US$200 million from 70,6 million kg that have been delivered 33 days into the 2016 marketing season, a gain of more than US$60 million on revenues realised over ...

by Livingstone Marufu

AfDB gives Zim thumbs up

22 May 2016 | 2169 Views
The African Development Bank has lauded recent measures taken by Zimbabwe’s Finance Ministry and the Reserve Bank to halt currency flight and re-engage with the IMF.Finance and Economic Deve...

by Staff Reporter

Loss making NetOne to declare a dividend?

20 May 2016 | 2191 Views
The state-owned mobile operator NetOne is eyeing to declare a dividend by the end of the year despite making a US$3 million loss last year which is inconsistent with the US$218 million investment ...

by Staff reporter

Pepsi to set up multi-million plant in Zimbabwe

20 May 2016 | 4453 Views
AN Indian billionaire planning to set up a multi-million dollar PepsiCo plant in the country visited Zimbabwe over a fortnight ago to clear bureaucratic hurdles, which appeared to stall the project, t...

by Staff reporter

VACANCY ANNOUNCEMENT

20 May 2016 | 5747 Views
FAO is a member of the United Nations and does not charge any fees or require personal banking details at any stage of the recruitment process (application, interview,...

by Food and Agriculture Organization of the United Nations (FAO)

Air Zimbabwe search for strategic partner

20 May 2016 | 1899 Views
THE government is in discussion with 12 airlines as potential suitors as it widens the search for a strategic partner for the national airline Air Zimbabwe.Transport and Infrastructure Develop...

by Walter Muchinguri

Cimas launches low cost private hospital medical aid package

19 May 2016 | 2771 Views
Cimas Medical Aid Society has launched a new low cost private hospital medical aid package, the Classic Private Hospital package that gives members access to private healthcare at a lower cost than it...

by Business Reporter

RBZ directs banks to issue loans to SMEs

19 May 2016 | 3442 Views
The Reserve Bank of Zimbabwe (RBZ) deputy governor Charity Dhliwayo has said the central bank is crafting new measures to force banks to increase support to the informal sector.She told a parl...

by Thobekile Zhou

Bankers blacklisted

19 May 2016 | 3463 Views
Government has blacklisted bankers whose institutions collapsed due to delinquency, effectively sealed the fate of former highfliers accused of precipitating the demise of demise of several financ...

by Staff reporter

EcoCash, MTN launch money transfer service

19 May 2016 | 4166 Views
Zimbabwe's largest mobile money service, EcoCash, and MTN mobile money in Zambia have launched a money transfer service that allows Zimbabweans living in Zambia to send money home using MTN money wall...

by Business Reporter

NSSA Building Society officially launched

18 May 2016 | 3032 Views
The National Social Security Authority's National Building Society (NBS) has been officially opened in Harare.In his address at the official opening ceremony, NBS board chairman Gamaliel B...

by Staff reporter

Coca-cola launches worldwide 'Taste the feeling' campaign

18 May 2016 | 2564 Views
COCA-Cola launched the global "Taste the Feeling" campaign and announced its worldwide "One Brand" strategy in Zimbabwe this week, marking a strategic shift for the Company and uniting the Coca-Cola f...

by Staff Reporter

Sugar industry in crisis as cash shortages bites

18 May 2016 | 2383 Views
Sugarcane farmers are facing a serious crisis with the current cash shortages as they are failing to pay for implements most of which requires foreign currency.Masvingo Mirror reported that se...

by Staff Reporter

Chivhu’s Tillys Inn fast foods shuts down

18 May 2016 | 2893 Views
Tillys Inn, a large fast food outlet that opened in Chivhu barely 12 months ago has shut down. Chief Musarurwa, a Senator believed to be the major shareholder of the project could not be ...

by Staff Reporter

Mining tax regime unfair, says Zimra

16 May 2016 | 2522 Views
The Zimbabwe Revenue Authority (Zimra) says the country's mining tax regime must be reviewed, in the wake of shrinking royalties over the past year from the sector.Zimra chairperson Willia Bon...

by Staff reporter

Introduction of bonds notes to reignite inflationary pressures, says BMI Research

16 May 2016 | 4638 Views
BMI Research, a Fitch Group Company sees inflationary pressures returning to the Zimbabwean economy before year-end 2016, on the back of an increase in the money supply as a result of the government's...

by Staff reporter

Alcohol sales fall for first time in nearly 20 years

15 May 2016 | 4568 Views
GLOBAL sales of alcohol fell in 2015 for the first time since market research firm Euromonitor International started keeping records in 2001.In fact, you probably have to go back to the Asian ...

by Staff Reporter

Mat’land security companies cry foul over tenders

15 May 2016 | 3999 Views
SECURITY Companies in the Matabeleland region have taken a swipe at the State Procurement Board (SPB) for allegedly clandestinely and deliberately awarding tenders for the provision of security servic...

by Dumisani Nsingo

Shabanie and Mashaba mines revival in limbo

15 May 2016 | 2801 Views
EFFORTS to resume operations at Shabanie and Mashaba Mines (SMM) are in limbo as the Government continues to struggle to attract investors to inject capital for the revival of the mines which have bee...

by Dumisani Nsingo

ACF to partner NRZ in upgrading Kwekwe-Beitbridge railwayline

15 May 2016 | 2778 Views
AFRICA Chrome Fields (ACF) will this week sign a Memorandum of Understanding (MoU) with National Railways of Zimbabwe (NRZ) to revitalise the railway line from Kwekwe to Beitbridge to enable smooth an...

by Munyaradzi Musiiwa

Flour row costs bakery $18k in revenue

15 May 2016 | 2561 Views
ONE of Bulawayo’s fastest growing bread manufacturers, Double Fresh Bakery has lost business worth an estimated $18 000 after it allegedly used sub-standard flour supplied by Bulk Commodities Privat...

by Staff Reporter

Zesa gives winter warmer cheer

15 May 2016 | 2444 Views
ZIMBABWEANS will not experience power cuts this winter season as the Zimbabwe Electricity Distribution Transmission Company, a subsidiary of power utility Zesa, says it will meet demand.Zesa s...

by Debra Matabvu

Banks absolve themselves from wrong doing

15 May 2016 | 2515 Views
BANKS involved in the transfer of cash to offshore accounts did so within the confines of the law and cannot be held liable for illicit financial flows, Bankers Association of Zimbabwe president Dr Ch...

by Enacy Mapakame

14 foreign exhibitors for Sanganai

15 May 2016 | 1780 Views
THE Zimbabwe Tourism Authority has heightened preparations for the annual Sanganai/Hlanganani World Tourism Expo, with indications that 103 out of the targeted 180 companies have registered to showcas...

by Livingstone Marufu

Raw mineral exports banned

15 May 2016 | 2009 Views
THE Mines and Minerals Amendment Bill (2015), which is before the Attorney-General for proof-reading, will address ambiguities of land use between agriculture and mining, and ensure maximum production...

by Staff Reporter

Zimbabwe mulls tweaking tariff regime

15 May 2016 | 1910 Views
GOVERNMENT is considering reviewing the import tariff regime before the end of the year to stem the rising tide of imports, increase production capacity and narrow the trade gap.The envisaged ...

by Livingstone Marufu

Banks absolve themselves from wrong doing

15 May 2016 | 1999 Views
BANKS involved in the transfer of cash to offshore accounts did so within the confines of the law and cannot be held liable for illicit financial flows, Bankers Association of Zimbabwe president Dr Ch...

by Enacy Mapakame

RBZ governor turns to faith

14 May 2016 | 4168 Views
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday said there is need to "walk by faith", not by sight in this economy, as economists shot down plans to introduce bond notes as part of me...

by Staff reporter

Tax arrears balloon to $2.58 billion, says Zimra

13 May 2016 | 2770 Views
Zimbabwe Revenue Authority (Zimra) says tax arrears have ballooned to $2,58 billion from $1,97 billion last year as privately-owned enterprises are increasingly failing to service their tax obligation...

by Staff repoter

3.7 million carats of diamonds smuggled from Zimbabwe

13 May 2016 | 3534 Views
Chinese diamond mining company Anjin Investments, in which the military has an interest, a few years ago smuggled 3.7 million carats of diamonds from Chiadzwa mining fields in Marange worth about ...

by Staff reporter

Zimbabwe cement firms face closure

13 May 2016 | 4265 Views
Local cement producers have warned of possible scaling down of operations and closures owing to an influx of cheap imported products from the region, saying protectionist measures could save the indus...

by Staff reporter

No change at Delta Beverages after AB-InBev takeover - CEO

12 May 2016 | 3985 Views
Delta Beverages says it does not expect any change in its operations and product offering following the proposed takeover of SABMiller by Anheuser-Busch (AB) InBev.Speaking at a results presen...

by Staff reporter

Air Zim splashes $200K per month on grounded plane

12 May 2016 | 3732 Views
Transport minister Jorum Gumbo has revealed that the Airbus A320 from China are not new and are rented at a cost of $200 000 per month each.He said the two aircrafts from China which are on le...

by Thobekile Zhou

Cash shortage hits mobile money services

12 May 2016 | 4170 Views
MOBILE money transfer agencies in Bulawayo have in the past few days recorded low business due to the cash crisis that hit the country in recent weeks.In separate interviews, some of the agenc...

by Oliver Kazunga

RBZ has no appetite to print bond notes over US$200M

11 May 2016 | 4935 Views
The Reserve Bank of Zimbabwe says it has no appetite to print bond notes beyond the US$200 million facility.Following concerns and fears from the local market on whether the Apex Bank will not...

by Staff Reporter

PDP offers real solutions to the cash crisis

11 May 2016 | 5756 Views
In the recent weeks, the media, social and political conversations have been dominated by the ongoing dire cash crisis as well as the proposed disastrous returning of the Zimbabwean dollar alias ‘bo...

by PDP

CIMAS allays closure fears

11 May 2016 | 3331 Views
Cimas Medical Aid Society says it is not in danger of losing its operating licence, dismissing media reports to the contrary. A local weekly on Sunday reported that government had given th...

by Staff reporter

Zimbabwe foreign debt payments on track

11 May 2016 | 2703 Views
ZIMBABWE is on track towards clearing close to $2 billion debt to international finance bodies, which would facilitate access to fresh lines of credit to grow her economy, Finance Ministry Secretary W...

by Prosper Ndlovu

RBZ scraps Rand, Euro plan

11 May 2016 | 4627 Views
THE Reserve Bank of Zimbabwe (RBZ) has with immediate effect scrapped the apportionment of foreign exchange receipts into rand and euros and applied the five percent export incentive in US$ into autho...

by Prosper Ndlovu

Econet wants to buy South Africa's Neotel

11 May 2016 | 3233 Views
JOHANNESBURG - Econet Wireless Global and subsea cable operator Seacom are courting Neotel with the view to a potential acquisition, it was reported on Tuesday. The news comes after Vodacom was forced...

by moneyweb

RBZ update: Banks give in to pressure from exporters

10 May 2016 | 4851 Views
Zimbabwe's Reserve Bank on Tuesday abandoned plans to automatically convert export proceeds into the Rand and Euro currencies, the second tweak within a week of a major policy intervention, as it batt...

by Thobekile Zhou
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