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Brainworks withdraws $20m Telecel offer after rights offer close

Brainworks Capital Management has withdrawn the offer that it had made to Empowerment Corporation to purchase its 40 percent shareholding in Telecel Zimbabwe three days after closing on its fully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...Read more

Brainworks withdraws $20m Telecel offer after rights offer close

27 March 2015 | 365 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Brainworks Capital Management has withdrawn the offer that it had made to Empowerment Corporation to purchase its 40 percent shareholding in Telecel Zimbabwe three days after closing on its fully unde...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 | 1145 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 | 2496 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 | 659 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 | 805 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 | 2299 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

Bulawayo avails business stands

26 March 2015 | 1667 Views
THE Bulawayo City Council (BCC) has availed industrial and commercial stands for new business in different sectors of the economy in a bid to boost the city's economy. The council's acting eco...

by Staff reporter

Royal Bank directors must be arrested

25 March 2015 | 1400 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 | 2562 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

War erupts within IMPI over unpaid allowances

25 March 2015 | 1455 Views
MEMBERS of the Information Media Panel of Inquiry (IMPI) are holding on to Samsung smart phones and iPads they were given as they try to force official to pay them outstanding allowances.IMPI ...

by Staff Reporter

Bread price reduction wont affect quality - CCZ

25 March 2015 | 2653 Views
THE Consumer Council of Zimbabwe (CCZ) has assured customers that the reduction in bread prices will not lead to a compromise in quality.Most shops have reduced the bread price from $1 per...

by Staff Reporter

50 cent bond coins to be introduced next week

24 March 2015 | 2308 Views
The Reserve Bank of Zimbabwe (RBZ) is set to avail a 50 cent bond coins next week to complement the already smaller units.Late last year, the RBZ injected minted coins imported from South Afri...

by Thobekile Zhou

Local Company to Host Food Tasting expo

24 March 2015 | 1336 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

Meikles fired workers to save business

24 March 2015 | 2728 Views
Meikles Limited which fired 33 workers last week in Bulawayo has said it was the only option to keep business viable.The company served employees with termination of employment letters while a...

by Thobekile Zhou

Aberdeen City snub ZITF

24 March 2015 | 2520 Views
Bulawayo city council long standing twin city - Aberdeen of Scotland would not be exhibiting at this year's Zimbabwe International Trade Fair due to financial constraints.Acting BCC Economic D...

by Thobekile Zhou

Zim firm 'nudged' out of oil factory deal

23 March 2015 | 2637 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 | 5731 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

Geozing Pawnbrokers back in business

23 March 2015 | 2268 Views
CONTROVESIAL Geozing Pawnbrokers Private Limited that allegedly duped thousands of its clients of millions of dollars is back in business.Its owner George Zingani and his wife Duduzile Ndlovu ...

by Thobekile Zhou

15 Botswana companies to exhibit at ZITF

22 March 2015 | 1461 Views
At least 15 local companies will participate at the annual Zimbabwe International Trade Fair (ZITF) to be held from the April 28 to May 2 in Bulawayo, authorities in that country have revealed....

by Stephen Jakes

German Director for Sub-Saharan Africa to visit Zimbabwe

22 March 2015 | 1131 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

Big wigs suck Zimbabwe banks dry

22 March 2015 | 2972 Views
The majority of banks that folded over the past five months choked on souring loans extended to top executives and serial debtors, The Sunday Mail reported.AfrAsia is the latest victim of toxi...

by Staff Reporter

Retrenching firms struggle to raise packages - ZCTU

21 March 2015 | 4380 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 | 5781 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

Bond coins under spotlight again

20 March 2015 | 3575 Views
The Zimbabwe National Chamber of Commerce will next week hold a Bond Coins discussion forum in Harare to interrogate the introduction of the coins and gauge the public response.According to ZN...

by Thobekile Zhou

Volkswagen re-enter Zimbabwe

20 March 2015 | 4736 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

ZITF to hike stands rentals by 20%

20 March 2015 | 1161 Views
THE Zimbabwe International Trade Fair (ZITF) company is set to hike booking rates for exhibitors by 20 % with effect from April 1.The 56th edition of the country's premier trade show runs ...

by Thobekile Zhou

Sanlam to expand into Zimbabwe

20 March 2015 | 2056 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

Edgars records jump in profits

20 March 2015 | 1057 Views
Zimbabwe Stock Exchange-listed clothing giant, Edgars Stores Limited recorded a 22,3 percent jump in profits to $5,2 million for the 53 weeks to January 10 as the group's focus on offering various...

by Staff reporter

Telecel teeters on brink of insolvency

20 March 2015 | 1200 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

Ingwebu sets up non-alcoholic beverages plant

20 March 2015 | 1254 Views
BULAWAYO City Council's Ingwebu Breweries has set up a plant to manufacture non-alcoholic products and has obtained regulatory approvals to launch them, general manager Nkosana Ndlovu has said. ...

by Staff reporter

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

19 March 2015 | 4549 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

'Zimbabweans prefer foreign investment instead of indigenisation'

19 March 2015 | 1054 Views
Zimbabweans prefer foreign direct investment (FDI) to indigenisation for employment creation, a new survey by the Mass Public Opinion Institute (MPOI) has revealed. According to the survey, an...

by Staff reporter

PPC not abandoning Bulawayo

19 March 2015 | 1495 Views
Zimbabwe Stock Exchange-listed cement manufacturer, PPC Zimbabwe, has discounted fears that it was planning to abandon the de-industrialising Bulawayo region after it announced plans to commission...

by Staff reporter

TM Pick n Pay - Important Notice

18 March 2015 | 11097 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 | 1147 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 | 1026 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 | 5182 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 | 2299 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 | 3633 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 | 2680 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 | 2875 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 | 1836 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 | 3831 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 | 2600 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 | 1716 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 | 2124 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 | 3513 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 | 1041 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 | 1156 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

Zimbabwean Mawadzi among top care recruitment agencies in the UK

12 March 2015 | 3383 Views
Care recruitment agency and Zimbabwe Achievers Awards 2012 winner of the company of the year award, Renaissance Personnel, has become one of the top 100 small businesses to work for in the UK....

by Staff Reporter

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