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Frantic account holders break bank doors demanding cash



FURIOUS Kingdom Bank account holders yesterday damaged electronic glass doors at the bank's Jason Moyo Street branch in Bulawayo demanding their money after the institution limited cash withdraw...Read more

Frantic account holders break bank doors demanding cash

30 September 2014 | 3051 Views
FURIOUS Kingdom Bank account holders yesterday damaged electronic glass doors at the bank's Jason Moyo Street branch in Bulawayo demanding their money after the institution limited cash withdraw...

by Loveness Bepete

'We should promote our Zimbabwean products,' says MDC-T MP

30 September 2014 | 1392 Views
THE business community should reduce imports and support industry by buying local products to preserve jobs, Nkulumane legislator Thamsanqa Mahlangu said yesterday.Speaking at a meeting w...

by Loveness Bepete

Air Zimbabwe passengers stranded again

30 September 2014 | 2161 Views
Air Zimbabwe passengers suffered yet another huge delay when those travelling from Harare to Bulawayo arrived in the city at around 1am on Saturday after the flagship carrier again failed to pro...

by Staff reporter

Zimbabwe economy heads South

30 September 2014 | 1863 Views
Zimbabwe's economy continues to weaken in the absence of strong government policies as evidenced by earnings results released this month by listed stocks as all companies showed signs of stress. ...

by Staff reporter

Nissan Zimbabwe loses franchise

30 September 2014 | 2084 Views
Nissan Zimbabwe (Pvt) Limited has lost the franchise as the official distributor of Nissan vehicles in the country and is embarking on a clearance sale for its stock. The clearance sale w...

by Staff reporter

TelOne targets to connect over 20 000 houses by next year

26 September 2014 | 1951 Views
TelOne, targets to fibre connect over 20 000 houses by next year under the $98 million fund from government and China, a company executive has said. Speaking on the side-line for the official ...

by Staff reporter

High taxation stifles small business

26 September 2014 | 1026 Views
High taxation levels and inflexible business licensing models are hindering the growth of the SME sector in the country, players in the industry have said.SME sector representatives told S...

by Business reporter

Telecel launches mobile insurance

25 September 2014 | 1447 Views
Telecoms operator, Telecel Zimbabwe, is partnering with local insurance company, Zimnat Life, to roll out a mobile insurance product that offers Telecel subscribers Funeral, Hospital and local and int...

by Staff reporter

Multichoice introduces Box Office to Zimbabwe

24 September 2014 | 3770 Views
Multichoice has announced the introduction of its Box Office service to Zimbabwean DStv subscribers. The service allows subscribers with DStv Explora and HD PVR decoders to rent blockbuster movies...

by Staff reporter

'Zimbabwe not a basket case, has to clear debts,' says IMF

24 September 2014 | 3307 Views
Zimbabwe will not be able to access fresh funds from the World Bank and the International Monetary Fund until it has paid its long overdue arrears. The IMF head of mission to Zimbabwe, Do...

by Staff reporter

Pioneer renamed Unifreight

24 September 2014 | 2744 Views
Transport and logistics firm, Pioneer Corporation Africa expects to double its turnover following new business and machinery acquisitions by the company. Group chief executive officer Gary...

by Staff reporter

Zimbabwe to engage IFC for financial support

24 September 2014 | 868 Views
Finance and Economic Development Minister Patrick Chinamasa says he will engage the International Finance Corporation, a unit of the International Monetary Fund, to extend financial support to loc...

by Staff reporter

Chinamasa bemoans wage bill

24 September 2014 | 3647 Views
HARARE - The wage bill for civil servants is embarrassing and unsustainable, Finance minister Patrick Chinamasa said yesterday, echoing criticism from the International Monetary Fund (IMF) as the coun...

by Staff Reporter

Chinamasa extends begging bowl, queries isolation by World Bank, IFC

23 September 2014 | 2022 Views
Zimbabwe says there is no justification in the continued isolation of the local private sector by the World Bank's affiliate, the International Finance Corporation (IFC) as the local industry ha...

by Staff reporter

Emirates Named the Best International Airline by Zimbabwe Travel Agents for Third Year

23 September 2014 | 787 Views
HARARE - Emirates, which flies daily from Harare to Lusaka and Dubai, has been voted the Best International Airline by the Association of Zimbabwe Travel Agents (AZTA) for the third year running....

by Staff Reporter

Zimbabwe moves to activate African Development Bank grant

23 September 2014 | 797 Views
The Zimbabwean government has requested the services of consultants to develop an indicators manual and a development report as it moves to activate a youth grant from the African Development Bank (Af...

by Staff reporter

Banks hike withdrawing fees by 50%

22 September 2014 | 5203 Views
Banks will increase cash withdrawal charges under the Zimswitch platform by 50% from the current $2, starting from October - in a development likely to draw the ire of depositors.Depositors h...

by Staff reporter

RBZ mulls electronic payments regulation

22 September 2014 | 1147 Views
RBZ plans to introduce regulations that govern electronic transactions following the proliferation of technology based payment platforms. RBZ Financial markets division deputy director Wil...

by Staff reporter

'Tendai Biti misfires on Kariba'

22 September 2014 | 4757 Views
The state media reports that adjustment made to the cost of constructing Kariba South hydro-electric power project from USD $355 million to USD $533 million reflects the full cost of the project m...

by Freeman Razemba

Prices of local products rising

19 September 2014 | 2918 Views
Prices of locally produced goods are seen rising as manufacturers pass the cost for excise duty on fuel to consumers, analysts have warned. MMC Capital says in its weekly market report it ...

by Staff reporter

Air Zimbabwe's woes mount

19 September 2014 | 1604 Views
The Supreme Court judgment allowing a former Air Zimbabwe manager, Dr Stephen Nhuta, to attach 29 vehicles to recover his dues has opened floodgates for the airline with more workers who had been hold...

by Daniel Nemukuyu

Emirates offers up to 25% discount to Zimbabwe travellers

18 September 2014 | 4103 Views
HARARE - Emirates, which flies daily from Harare to Dubai via Lusaka, is offering travellers from Zimbabwe up to 20 percent discount on Economy Class and 25 percent discount Business Class fares ...

by Matthews Estell

Steady growth for Zimbabwean economy

18 September 2014 | 2956 Views
The Zimbabwean economy has maintained steady growth, slightly improving this year compared to last year's ranking, according to the latest World Economic Forum Global Competitiveness Report for 20...

by Staff Reporter

Delays in reviving New Zim-Steel explained

18 September 2014 | 2332 Views
The Government and an Indian conglomerate, Essar Holdings, signed a US$750 million deal to revive New Zim-Steel, formerly Ziscosteel, in Redcliff, in 2011 but due to outstanding issues over the th...

by Staff Reporter

'Zimbabwe economy could collapse on Zimdollar reintroduction'

17 September 2014 | 2769 Views
ZIMBABWE'S economy risks collapsing if the country prematurely re-introduces the local currency, Finance Minister Patrick Chinamasa has said.The country adopted a basket of multi-currencie...

by Staff reporter

Subscribers cry foul over NetOne blackout

17 September 2014 | 2880 Views
Tonnes of farm produce is reportedly going to bad in Nyamandlovu with farmers failing to get in touch with their customers after NetOne has gone three days without service.The farms in the...

by Moyo Roy

IMF delegation jets into Zimbabwe

17 September 2014 | 1505 Views
An International Monetary Fund (IMF) delegation has arrived in Zimbabwe for a two week review of economic policies.The IMF team will hold meetings with government ministries, the Reserve Bank ...

by Staff reporter

Zimbabwe targets 1 million platinum ounces a year

17 September 2014 | 776 Views
The Zimbabwean government is targeting to reach 1 million ounces of platinum in the next few years as four concessions of platinum are expected to be operational in the next five years.The tar...

by Staff reporter

Delta Beverages slashes beer prices

17 September 2014 | 3388 Views
Delta Beverages has slashed beer prices across the whole portfolio except for the pint.  Delta Beverages management advises that the quart comes down from a recommended retail price of $...

by Staff reporter

'NRZ is the backbone of Bulawayo industry'

17 September 2014 | 2422 Views
THE rejuvenation of the National Railways of Zimbabwe (NRZ) will open floodgates Bulawayo business, Transport and Infrastructural Development Minister Obert Mpofu and his Industry and Commerce co...

by Hangoyapalala waTjibundule

Telecel re-introduces voice promo

17 September 2014 | 1300 Views
Telecel has announced the long - awaited return of the popular Mega Juice promotion which gives 100%  Telecel - to - Telecel call bonus to subscribers whenever they load a $1 or more worth of air...

by Staff reporter

Calls for Stanbic boycott

17 September 2014 | 1688 Views
The Zimbabwe Banks and Allied Workers Union has called for a boycott of Stanbic Bank as it presses ahead with its protracted collective job action against the bank over salaries and benefits dispute....

by Staff reporter

AfrAsia Bank runs out of money

17 September 2014 | 1495 Views
AfrAsia Bank depositors yesterday complained bitterly that they failed to access cash from the bank. While AfrAsia was recently limiting withdrawal due to solvency challenges, matters came to ...

by Staff reporter

Mugabe seals and signs $3 billion platinum deal with Russia

16 September 2014 | 3105 Views
Russia and Zimbabwe signed Tuesday a $3bn deal to jointly mine platinum in the southern African country, the world's third largest producer, with Moscow providing the investment funds.The ...

by AFP

Goldstar Sugars Harare plant reopens

15 September 2014 | 2314 Views
White Goldstar sugar from the Goldstar Sugars Harare plant is expected to be released onto the market this week, following the upgrading of the plant, which began in August last year. Pub...

by Staff Reporter

Russian company prospecting for Zimbabwe diamonds

15 September 2014 | 1616 Views
Diamond mining company Alrosa is partnering a Zimbabwe-Russia joint venture company to prospect for diamonds in the southern African country, Russia's trade and industry minister said on Monday....

by Reuters

Zimbabwe, Russia sign mining equipment agreement

15 September 2014 | 1404 Views
Zimbabwe and Russia have signed a Memorandum of Understanding for the supply of mining equipment to the Southern African country.The signing took place during the Ministerial Segment of th...

by Staff reporter

Delta, Dairibord fight over advertising

14 September 2014 | 2910 Views
An advertising war has erupted between two of the country's leading beverage manufacturers, Delta Beverages and Dairibord Holdings.Delta Beverages recently erected a billboard along Rekai ...

by Staff reporter

ZFTU criticises fiscal policy review

13 September 2014 | 1912 Views
A labour representative body has called on the government to extensively consult before making key national decisions.Commenting on the recently announced Mid-Term Fiscal Policy Review stateme...

by Staff Reporter

Emirates to Launch Second Service to Dar es Salaam

12 September 2014 | 1292 Views
HARARE - Emirates, which flies daily from Harare to Lusaka and Dubai, will be able to connect even more people and cargo with Dar es Salaam in Tanzania, with the start of a second service from D...

by Staff Reporter

Econet to partner Zimbabwe govt to improve economy

12 September 2014 | 3768 Views
Econet Zimbabwe is prepared to work with Government in stimulating economic revival through spearheading investments that develops infrastructure and creation of jobs. The company express...

by Staff reporter

Zimbabwe's external debt to hit $7.2 billion

12 September 2014 | 779 Views
Zimbabwe's external debt will hit $7, 2 billion by December this year, according to government projections. Chinamasa said in the midterm fiscal policy debt distress has continued to undermine...

by Staff reporter

Chinese insurer coming to Zimbabwe

12 September 2014 | 1735 Views
Officials from the Chinese export credit insurance agency, China Export and Credit Insurance Corporation (Sinosure) are expected in the country next week to finalise negotiations for lending to th...

by Staff reporter

Govt to offload $1,3 billion RBZ debt on taxpayers

12 September 2014 | 1515 Views
The government is working on modalities to make taxpayers fund the $1,35 billion debt raked up by the Reserve Bank of Zimbabwe during the hyper inflationary period of the Zim dollar era.Ev...

by Staff Reporter

Zimbabwe introduces 5% duty on airtime, 25% duty on mobile phone handsets

11 September 2014 | 7760 Views
Finance Minister Patrick Chinamasa has said that he will levy excise duty of 5% on air time for voice and data with effect from September 15. Chinamsa said customs duty at 25% on mobile hands...

by Staff reporter

Bulawayo closed for business

11 September 2014 | 7081 Views
SIXTY percent of companies operating in Bulawayo have been placed under judicial management, indicative of the dire state of affairs in the country's second largest city. Once Zimbabwe's indus...

by Ray Ndlovu

Zimbabwe pays almost R2 billion to service Chinese loans

10 September 2014 | 2721 Views
Zimbabwe has spent $180m (about R2bn) in unbudgeted expenditure to service outstanding loans from China in an effort to improve relations and encourage new financial support, Finance Minister Patrick ...

by Reuters

Fears that AMH will create a media monopoly in Zimbabwe

10 September 2014 | 2703 Views
There are fears that the newspaper group, Alpha Media Holding will morph into a media monopoly if given a chance to venture into radioAMH chairman Trevor Ncube yesterday worked hard to dispell...

by Staff reporter

Bimha to officially open 2014 ZimTrade Exporters' Conference

10 September 2014 | 851 Views
The Minister of Industry and Commerce, Honourable Mike Bimha, will officially open the Exporters' Conference scheduled for the 2nd of October 2014, at Meikles Hotel in Harare.The Conferenc...

by Dillon Kamutenga

RBZ takes ex-RBZ Governor's company to court

10 September 2014 | 2646 Views
The Reserve Bank of Zimbabwe is embroiled in a legal battle with the firm of its former governor Dr Kombo Moyana over the sale of a block of flats in Avondale, Harare, seven years ago.The cent...

by Fidelis Munyoro
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