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'Zimdollar return suicidal,' says RBZ boss

Government should not reintroduce the Zimbabwe dollar as this amounts to economic suicide, central bank boss John Mangudya warned.In his maiden mid-term monetary policy statement presentation ...Read more

'Zimdollar return suicidal,' says RBZ boss

29 August 2014 | 3388 Views
Government should not reintroduce the Zimbabwe dollar as this amounts to economic suicide, central bank boss John Mangudya warned.In his maiden mid-term monetary policy statement presentation ...

by Taurai Mangudhla

RBZ rules out return of Zimdollar

27 August 2014 | 2852 Views
Zimbabwe will continue using multiple foreign currencies for the foreseeable future until production levels have increased, the central bank has said.This comes as various stakeholders in the ...

by Staff reporter

KFC to open more branches in Zimbabwe

27 August 2014 | 3640 Views
International fast-food retail giant KFC is planning to open more branches in Zimbabwe, in a development that will result in employment creation in the country.Bruce Layzell,  general man...

by Staff reporter

11 Zimbabwe banks distressed

27 August 2014 | 3464 Views
The Depositors Protection Corporation (DPC) says it is closely watching 11 banks exhibiting signs of financial distress under the Capital, Assets, Management, Earnings, Liquidity and Sensitivity to r...

by Staff reporter

Zera bars Zesa from increasing tariffs

27 August 2014 | 2193 Views
The Zimbabwe Energy Regulatory Authority (ZERA) has turned down an application by the Zimbabwe Energy Distribution Company (ZETDC) to increase electricity tariffs.The power utility had ap...

by Staff Reporter

Zimbabwe to import special coins to ease shortages

26 August 2014 | 5482 Views
THE Reserve Bank of Zimbabwe (RBZ) said Monday it would import special coins with similar value to those currently circulating in the economy to ease a shortage of change in the economy.Zimbab...

by Staff Reporter I Agencies

Zimbabwe unveils banks rescue package

26 August 2014 | 1275 Views
Cabinet has approved the Zimbabwe Asset Management Corporation (Pvt) Ltd (Zamco), a National Special Purpose Vehicle (SPV), to acquire toxic non-performing loans (NPLs) from banks, Reserve Bank of Zim...

by Staff reporter

Stanbic employees in protest for 10% salary increase

26 August 2014 | 2001 Views
DOZENS of bank employees yesterday picketed Stanbic Bank headquarters in Harare to press management at the financial institution to pay its workers a 10% salary increase.The protests were orga...

by Staff Reporter

KFC Zimbabwe franchise's performance exceeds expectations

26 August 2014 | 3098 Views
Kentucky Fried Chicken (KFC)'s performance of its franchise in Zimbabwe has been pleasing and exceeded expectations, General Manager New Africa Markets Bruce Layzell has said. The Zimbabwe op...

by Staff reporter

'Zim telecom companies overcharging consumers'

25 August 2014 | 2348 Views
RATES being quoted by telecommunication companies no longer reflect the cost of providing the services given changes that have taken place since inception of the tariffs, the industry's regulatory bod...

by Staff reporter

TeleCash slashes mobile money fees

25 August 2014 | 2560 Views
Telecash customers can now send money for free to other registered telecash subscribers, following a revision of telecash charges that came into effect last Friday, 22 August 2014.The new tar...

by Staff reporter

Ditching US$ could spark unrest in Zimbabwe

25 August 2014 | 3779 Views
THE Bankers Association of Zimbabwe has urged the government to maintain the multi-currency regime warning that a premature return of the local currency could trigger an economic collapse and poss...

by Staff reporter

Standard Bank workers go on strike

25 August 2014 | 3421 Views
Standard Bank (Stanbic) workers will today stage an industrial action at the financial institution's headquarters in Harare to press for 10% increase in salary and allowances, the Zimbabwe Banks and A...

by Staff reporter

MAN opens Bus and Truck outlet in Bulawayo

25 August 2014 | 4863 Views
EUROPEAN giant commercial transport firm, MAN Group of Trucks and Buses, has opened an outlet in Bulawayo in a move set to boost investor confidence on the backdrop of company closures bedeviling ...

by Charity Ruzvidzo

ABC in $38M bargain

24 August 2014 | 1087 Views
ZIMBABWE Stock Exchange (ZSE) listed financial concern, ABC, stole the limelight from index movement towards turnover after striking a special bargain deal worth US$38,05million derived from 46,407,48...

by Staff Reporter

Zimbabwe mulls domestic processing industry

23 August 2014 | 1225 Views
Government should put an end to exports of raw materials as a first step in establishing domestic processing industries that will dramatically boost revenue from sales of finished products, hike t...

by Staff reporter

EcoCash accounts for more than 60% of WorldRemit transfers to Zimbabwe in 3 months

23 August 2014 | 3293 Views
London -  More than 60% of all money transfers sent to Zimbabwe through WorldRemit are now received on EcoCash, it was revealed today.The significant landmark comes just three months ...

by Iain Mackenzie

RBZ pays 16 year old Meikles debt

20 August 2014 | 4017 Views
Reserve Bank of Zimbabwe (RBZ) has begun payments of a 16-year-old debt to diversified conglomerate, Meikles Holdings Limited (Meikles).John Moxon, the Meikles chairman yesterday said the grou...

by Staff reporter

Zimplats mine shut down

20 August 2014 | 5080 Views
The Bimha mine in Zimbabwe, operated by Zimplats, has been closed, Implats announced on Wednesday."Implats wishes to inform shareholders and other stakeholders that a decision has now been mad...

by Staff reporter

Standard Bank report confirms strong growth in Africa's rising middle class

19 August 2014 | 1836 Views
JOHANNESBURG - Africa has experienced substantial growth in its middle class over the past 14 years, according to a study by Standard Bank.The report,...

by APO

Egyptair to stop Harare flights

18 August 2014 | 4567 Views
Egyptian airline, Egyptair, has decided to roll back its Zimbabwean operation from next month, adding to woes of a flagging aviation industry, which has been battered by deteriorating economic and...

by Staff reporter

Lion Match factory sold to an Indian businessman for $1,68m

18 August 2014 | 2317 Views
Lion Match Zimbabwe’s factory was on Friday sold for $1,68 million to an Indian businessman who outbid several other businessmen of Asian origin. Bidding for the factory, which includes ...

by Staff reporter

Ecobank sinks $120m into Zimbabwe

18 August 2014 | 2263 Views
Pan African bank, Ecobank Zimbabwe says it has extended and deployed $120 million in lines of credit harnessed from within the Ecobank group and external financiers to support both the local corporat...

by Staff reporter

TM spends $4,5m on shopping complex

18 August 2014 | 3833 Views
TM Supermarkets has spent close to $4,5 million towards refurbishment and stocking of its new state of the art supermarket at the Old Mutual’s Msasa premises. The shopping complex, which...

by Staff reporter

Safeguard fits customised security doors within 48 hours

13 August 2014 | 1766 Views
Safeguard Engineering has increased its capacity to assemble and install made-to-measure folding security doors, offering installation within 48 hours of an order being placed.The security...

by Business Reporter

P&G recognised for its contribution to social and economic investment in Africa

13 August 2014 | 1477 Views
Johannesburg - Procter & Gamble (P&G) recently received the African Leadership Magazine Award for Companies Investing in Africa in recognition of its continued contribution to social and e...

by Business Reporter

Govt should control copper trade - NRZ

13 August 2014 | 1415 Views
The National Railways of Zimbabwe (NRZ) says government should centralise and control the trade of copper and related products in order to stifle the market for vandalised equipment from the state ru...

by Staff Reporter

Air Zimbabwe to resume international flights

12 August 2014 | 5070 Views
Struggling state owned Air Zimbabwe is set to resume international flights just three years after it halted its foreign business due to financial constraints."We are at an advanced stage, our...

by Staff reporter

Zimbabwe to promote local assembly of vehicles

11 August 2014 | 5095 Views
ZIMBABWE is to push through a policy promoting the importation of knocked-down vehicle kits and impose higher tariffs on imported vehicles, which are shipped mostly through South Africa and Namibia....

by Tawanda Karombo

Zimbabwe plans could dent South Africa exports

11 August 2014 | 7004 Views
Plans by Zimbabwe to drive a policy promoting vehicle assembly through the importation of knocked-down kits and the imposition of higher tariffs on imported vehicles will significantly dent exports by...

by Roy Cokayne

Econet could have never survived, Learn To 'Connect The Dots' - Masiyiwa

11 August 2014 | 4011 Views
In his August 10th Facebook comment, the founder and director of Econet - Strive Masiyiwa - said Econet could have never survived beyond 2007.Masiyiwa was commenting on, Learn To "Connect The ...

by Staff Reporter

Safeguard introduces mobile time and attendance package

08 August 2014 | 1871 Views
Safeguard Alarms has introduced a versatile employee time and attendance system that can be used anywhere, even away from a company's base at, for instance, a road construction site.The state-...

by Staff reporter

Air Zimbabwe eyes China, London routes

08 August 2014 | 2011 Views
AIR Zimbabwe (Air Zimbabwe) is in negotiations with an international investor to service China and London routes, which is expected to be a turnaround for the local airline, a government official has ...

by Staff reporter

Zimpapers staff to fight 20% pay cut

08 August 2014 | 1833 Views
WORKERS at Zimpapers have told management to expect a fight over plans to cut salaries by about 20 percent, a development the group chief executive claims has been forced by the country's foul econom...

by Staff reporter

Delta Beverages in Zimbabwe indigenisation hoax

08 August 2014 | 1884 Views
Beverage maker, Delta Beverages is non compliant with the Indigenisation and Empowerment Act, parliament was told on Thursday.Giving oral evidence to the Indigenisation and Empowerment Themati...

by Staff reporter

Temporary Suspension of the Bulawayo - Beitbridge Passenger Train Service

08 August 2014 | 3423 Views
The National Railways of Zimbabwe wishes to advise its valued travelling public that the Bulawayo – Beitbridge passenger train service has been temporarily suspended for a period of approximatel...

by Staff Reporter

Econet gets $150 million Afreximbank loan facility

07 August 2014 | 2618 Views
Econet Wireless Global has secured a $150 million loan facility from African Export-Import Bank to expand its operations.In a statement, Afrexim bank said Econet would use the funds to expan...

by Staff reporteer

Trevor Ncube's newspapers battle to stay afloat

07 August 2014 | 3341 Views
WORKERS at Alpha Media Holdings (AMH), owned by businessman Trevor Ncube, have still not been paid their July salaries as the country's ailing economy savages the media sector.This comes as s...

by Staff reporter

'Sanctions are hurting Zimbabwe startups,' Obama told

06 August 2014 | 3889 Views
In a rare one-on-one stage interview he held with US president Barack Obama, Zimbabwean technology entrepreneur, Takunda Chingonzo, told Obama that the supposedly targeted sanctions against some polit...

by Staff reporter

Fastjet in maiden Tanzania - Harare flight

06 August 2014 | 3516 Views
Low cost airliner, Fastject flew its maiden flight to Zimbabwe yesterday on the Dar-es Salaam - Harare route. The airliner will service the route twice weekly with one way tickets availabl...

by Staff reporter

Zimbabwe bread sales decline by half

06 August 2014 | 3954 Views
Bread sales have dropped by more than half from a maximum of 1.5 million loaves a day to 700 000 per day as a result of the liquidity crunch and high production costs. The Grain Millers As...

by Staff reporter

Russians in $1.6 billion Zimbabwe platinum mining deal

05 August 2014 | 2304 Views
A Russian consortium is set to invest $1.6 billion in a platinum mining project at Rushchrome Darwendale, following a deal with the Zim government last week.Finance Minister Patrick Chinamasa ...

by Nomalanga Moyo

'Zimbabwe will soon run out of money,' says Bankers

05 August 2014 | 6841 Views
Bankers Association of Zimbabwe (Baz) has warned that Zimbabwe will soon run out of money to sustain imports.Joseph Mverecha, Agribank divisional director, speaking on behalf of Baz president...

by Staff reporter

NRZ owes employees $55 million in salary

05 August 2014 | 1519 Views
HARARE - Struggling National Railways of Zimbabwe (NRZ) owes its employees $55 million in salary arrears for nine months, but has ruled out laying off part of its over 6 500 workforce, Parliament hear...

by Staff Reporter

Biti shoots down Chinamasa's economic projections

04 August 2014 | 4165 Views
MDC Renewal Team leader and former Finance minister Tendai Biti last Friday shot down his successor Patrick Chinamasa's economic projections, saying given the prevailing stagnation in most sectors, th...

by Staff Reporter

Banks against Zimdollar return

03 August 2014 | 3726 Views
THE Bankers Association of Zimbabwe (BAZ) says it is imperative for Government to retain the multi-currency trading regime to maintain price stability as well as to strengthen the banking sector for o...

by Dumisani Nsingo

Zimbabwe diamond finances, US targets German bank

03 August 2014 | 2032 Views
The United States has placed a German financial institution under strict surveillance for clearing payments for Zimbabwe's diamonds at the recent Dubai diamond tender, state media reported Sunday....

by APA

Zimbabwe still has a lot of diamond reserves

03 August 2014 | 2871 Views
Manicaland Provincial Affairs minister Christopher Mushohwe says the country still has a lot of diamond reserves in Marange, quelling speculation the precious mineral was running out.Delegates...

by Staff reporter

'Econet will not engage in price wars,' says Mboweni

01 August 2014 | 4092 Views
Econet Wireless Zimbabwe has indicated that it will not engaging in price wars following the slashing of prices by its competitors, group CE Douglas Mboweni told an AGM today.Mboweni sai...

by Staff reporter

Air Zimbabwe's Chinese made MA60 planes back in the skies

01 August 2014 | 3650 Views
AIR Zimbabwe today relaunches its Harare - Kariba - Victoria Falls route after a seven-year hiatus using the 50-seater Chinese made MA60 planes.The airline will be flying three times a week, a...

by Staff reporter
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