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State firms owe Zimra US$450m

Official reports have exposed swelling defaults in a broad range of taxes due to government by 15 State firms, including the troubled ZBC and NRZ. The 15 firms accounted for nearly half a ...Read more

State firms owe Zimra US$450m

02 July 2015 | 971 Views
Official reports have exposed swelling defaults in a broad range of taxes due to government by 15 State firms, including the troubled ZBC and NRZ. The 15 firms accounted for nearly half a ...

by Staff reporter

Medical aid societies tell parliamentarians why they cannot pay more

30 June 2015 | 3796 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 | 3515 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

Employers responsible for developing talent in Africa

30 June 2015 | 2699 Views
he availability and retention of talent is proving to be one of the main challenges facing growth and expansion in Africa - DHL CAPE-TOWN - While many global companies are expanding, or s...

by APO

Zimra to shut down five companies

30 June 2015 | 7235 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

Exiting dollarisation won't be easy for Zimbabwe, says UN official

30 June 2015 | 4681 Views
A United Nations Development Programme senior economic advisor in Zimbabwe Amarakoon Bandara says no country has ever been able to reintroduce its domestic currency in the history of dollarisatio...

by Staff reporter

Diasporans, mining engineers partner ZMDC

30 June 2015 | 2713 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 | 3920 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

7000 workers lose jobs in 2014

29 June 2015 | 3288 Views
A total of 7 000 employees in Zimbabwe lost their jobs through retrenchments in 2014 as the country's economy continues to weaken.fin24 reported that according to figures from the National Soc...

by Staff Reporter

Telecel to retrench, downgrade network coverage

28 June 2015 | 6331 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 | 4206 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 | 4528 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 | 3178 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 | 6403 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 | 4562 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 | 5930 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 | 3976 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 | 5658 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 | 11203 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 | 4323 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

Zimbabwe targets 50 tonnes of gold

22 June 2015 | 4308 Views
Minister of Finance Patrick Chinamasa told junior parliamentarians that the government was implementing measures to increase gold production in the country. Chinamasa noted that government...

by Staff reporter

TM Supermarket in wrangle with line managers

20 June 2015 | 7025 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 | 9349 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

'Surrender of Zimdollars instils confidence in sickly economy'

19 June 2015 | 7399 Views
CASH-STRAPPED citizens have started trooping to banks to surrender the old Zimbabwe dollar rendered useless at the adoption of the multiple currency regime in February 2009, a development analysts say...

by Sij Ncube

Parliament probes Brainworks Capital

19 June 2015 | 2778 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 | 4731 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 | 5330 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 | 5621 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 | 9277 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 | 4080 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 | 14958 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

Thamsanqa analysing the World Economic Forum - Video

16 June 2015 | 6479 Views
Charles Aniagolu asks what the World Economic Forum will do for private sector investment in Africa with journalist, Thamsanqa Zhou.https://www.youtube.com/watch?v=J72h0wi1uashttp...

by Youtube

Padenga Holdings securities to be dematerialized on 1 July 2015

16 June 2015 | 4770 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 | 5369 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 | 6050 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

Zimbabwe annualised inflation ease, says ZimStat

15 June 2015 | 4548 Views
Zimbabwe's annual inflation for the month of May shed 0.05 percentage points to -2.70 percent from -2.65 percent recorded in April 2015, ZimStat has said.On a monthly basis, inflation stoo...

by Thobekile Zhou

Bread price slash looms

15 June 2015 | 7518 Views
The price of bread could further be reduced as the Grain Millers Association of Zimbabwe (GMAZ) reduced the price of flour by 10 percent.In March bakers reduced the cost of bread from $1 per l...

by Staff Reporter

Air Zimbabwe Lusaka flights resumption

15 June 2015 | 3803 Views
Air Zimbabwe Lusaka flights resumption ...

by Staff reporter

Econet acquires Redan Gas

14 June 2015 | 6892 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 | 5886 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

Zimdollars worth more on eBay

12 June 2015 | 7579 Views
On online auction site eBay, a 100 trillion Zimbabwean dollar note is a collector's item fetching up to $35, a small fortune compared with the 40 US cents on offer from the central bank as it seeks to...

by Reuters

EcoCash to start SA - Zimbabwe cross border remittances

12 June 2015 | 8610 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

World Bank aims to make Zimbabwe more investor-friendly

12 June 2015 | 4592 Views
The World Bank's International Finance Corporation (IFC) said it is assisting Zimbabwe with regularising and improving its operating environment to attract investors and pave the way for potential...

by Staff reporter

AfDB ranks ZSE worst performer in African region

12 June 2015 | 3632 Views
Zimbabwe's stock market was ranked the worst performer in the African region for the month of March 2015 as lack of investor confidence took a toll on trade, the latest African Development Bank (A...

by Staff reporter

Worthless Zimdollar officially phased out

11 June 2015 | 10452 Views
The Zimbabwean dollar will officially be taken out of circulation, officials said Thursday, six years after hyper-inflation rendered it worthless and US dollars became the most widely-used currency....

by AFP

Africa creates Cape to Cairo free-trade zone

10 June 2015 | 2640 Views
Africa's largest free-trade zone is to be created, covering 26 countries in an area from Cape Town in the south to Cairo in the north.The deal, signed in Egypt, is intended to ease the movemen...

by BBC

Kalaa Mpinga booted out of Mwana Africa

10 June 2015 | 6177 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

Zimbabwe raw sugar prices drop 8%

09 June 2015 | 4109 Views
The producer price for raw sugar in Zimbabwe this year has decreased by eight percent to $517 per tonne from last year's closing price, an official has said.At the end of the last marketing se...

by Staff reporter

Zimbabweans voted off Mwana Africa board

09 June 2015 | 4612 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 | 5130 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
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