Business

Good news for depositors

12 May 2017 THE Reserve Bank of Zimbabwe (RBZ) is set to review electronic transaction fees further downwards, in a move aimed at encouraging depositors to use plastic money in the face of a worsening liquidity crunch.

NetOne reaches out to churches

5 May 2017 NETONE has shifted its focus to churches in an unprecedented effort to reclaim its pole position in the telecommunications sector.

Zimbabwe to expand irrigation capacity: VP

28 April 2017 ZIMBABWE is moving to increase its irrigation capacity to at least 300 000 hectares as the country moves to capacitate recently-settled black farmers, the country's Vice President (VP) said.

Zim property sector remains depressed

10 April 2017 ONE of Zimbabwe's biggest property firms, Pearl Properties (Pearl), recorded a six percent revenue decline to $7,9 million in the full year to December 2016, as rental income and occupancy levels shrunk throughout the sector.

Zim seeks international partnerships

1 April 2017 ZIMBABWE is seeking partnerships with multinational companies to boost its ailing parastatals and grow the economy, Industry minister Mike Bimha has said.

Fuel smuggling on the rise

26 March 2017 THE quantity of smuggled petrol and diesel, disguised as duty-free illuminating paraffin, surged almost 600 percent between 2009 and 2016, with illegal fuel imports from neighbouring Mozambique flooding the Zimbabwean market.

Zim moves to boost tourism receipts

19 March 2017 ZIMBABWE has set plans in motion to boost tourism receipts by scrapping visas for tourists. Immigration principal director Clemence Masango said visas tend to cripple the number of tourists who can visit the country.

Tough times for loan defaulters

24 February 2017 ZIMBABWE'S serial defaulters are in for a bumpy year following operationalisation of the country's credit registry.

Chinamasa's money dreams

13 February 2017 VICE President Emmerson Mnangagwa says Finance minister Patrick Chinamasa has taken austerity measures to a whole new level, as the Treasury chief now "talks about money in his sleep."

NBS unveils houses

6 February 2017 NATIONAL Building Society (NBS) has begun unveiling houses to low income earners, hardly a year after it commenced operations.

Chinese firms light up communities

27 January 2017 CHINESE firms operating in Zimbabwe have taken it upon themselves to assist local communities in the absence of government intervention.

No cheer for homeowners

20 January 2017 AS property owners continue adjusting rentals to suit Zimbabwe's deteriorating economy, market watchers say they expect the sector to remain depressed this year.

Dark and Lovely launches new product

2 December 2016 NTERNATIONAL beauty care firm Dark and Lovely says it has invested over $100 000 in an awareness campaign to introduce the Zimbabwean market to its recently-launched natural hair care line, Dark and Lovely Au Naturalle.

Farmers ditch maize for tobacco

18 November 2016 ZIMBABWE'S tobacco farmers have increased by over 13 500 people this year compared to last year as farmers ditch growing the maize crop in favour of the lucrative golden leaf.

Zim seeks to protect ruminants

15 November 2016 ZIMBABWE has stepped up efforts to protect small ruminants, such as sheep and goats, from diseases as a way of ensuring food security in the drought-ravaged country.

Zim in bid to revive cotton farming

4 November 2016 GOVERNMENT has removed fabric from the Open General Import Licence (OGIL) under Statutory Instrument 64 of 2016 in a bid to revive the country's dying cotton sector, a Cabinet minister said.

Ema, Mines ministry clash

24 October 2016 AFIERCE battle is brewing between the Environmental Management Agency (Ema) and the Mines ministry over unhealthy, illegal and land degradation in Mutoko's Mudzi district.

Zim livestock under threat

18 October 2016 ZIMBABWE'S livestock production is facing serious threats from Antimicrobial resistance (AMR), which kills at least 700 000 people annually.

Zim eyes DRC market

10 October 2016 ZIMTRADE is exploring the Democratic Republic of Congo (DRC) to find investment opportunities for local companies.

Zimra invokes God on tax defaulters

1 October 2016 THE Zimbabwe Revenue Authority (Zimra) is stoking the spirit of fear among tax defaulters by invoking the name of God.

Zim to establish empowerment bank

23 September 2016 ZIMBABWE is set to establish an empowerment bank to facilitate financial inclusion of the unbanked, as part of the implementation of the country's financial inclusion strategy.

Zim fights terrorism, money laundering

16 September 2016 ZIMBABWE has intensified efforts to counter terrorism and illicit financial outflows by establishing a dedicated money laundering investigation unit within the police.

Zinwa slashes tariffs, open to negotiations

9 September 2016 THE Zimbabwe National Water Authority (Zinwa) says it is open to further reductions of water tariffs after the body last year slashed fees by between 27 and 56 percent for various sectors.

Zim banks on small grains amid hunger

17 August 2016 ZIMBABWE has turned to the Food and Agriculture Organisation (Fao) for assistance in helping farmers in the country's marginal areas focus more on producing small grains such as sorghum and millet to counter the risk of poor yields, lost income and hunger.

India seeks to boost local SMEs

22 July 2016 India said it is ready to assist local Small to Medium Enterprises (SMEs) by modernising and equipping them with vital skills for increased production.

China continues to dominate tobacco exports

15 July 2016 CHINA continues to dominate the country's tobacco exports, as the Asian country has so far purchased 20,2 million kilogrammes (kg) of the crop valued at $167,4 million for an average price of $8,11/kg.

Livestock production under threat

8 July 2016 ZIMBABWE'S livestock production is under threat following a recent surge in foot-and-mouth disease in six of the country's provinces.

Made delays GMB revival

19 June 2016 AGRICULTURE minister Joseph Made has failed to implement leadership change at the Grain Marketing Board (GMB) despite parliamentary directive to revive the parastatal.

Low capacity utilisation hits CFI ops

10 June 2016 AGRO-BASED manufacturing group CFI Holdings Limited (CFI) revenue in the first half to March 2016 declined to $19 million from $34,3 million, on the back of overall low capacity utilisation, subdued margins and streamlining costs incurred in the second quarter, the company said.

United Refineries in export drive

3 June 2016 Agro-processing firm, United Refineries, has embarked on an export drive to boost its revenue streams and unlock shareholder value.

New movie house at Joina City

27 May 2016 MOVIE lovers are in for a treat as Harare's upmarket mall Joina City is set to open doors to its new cinema before the end of this year

Zim moves to improve food safety

20 May 2016 ZIMBABWE is set to introduce a number of measures aimed at improving food safety in the face of increasing sub-standard food in the country.

Drought affects wheat production

16 May 2016 SEEDCO says it is experiencing low wheat seed sales this year due to the current El Nino-induced drought that has left over 5,5 million people in need of food aid across the country.

Zesa yet to effect tariff hike

8 May 2016 STATE power utility, Zesa Holdings (Zesa), is waiting on the energy sector regulator, Zimbabwe Energy Regulatory Authority (Zera), to approve a proposed tariff hike of between 12c per kWh and 16c per kWh, it has emerged.

Fao moves to cushion farmers

2 May 2016 THE Food and Agriculture Organisation (Fao) has started implementing a $2 million project aimed at softening the devastating effects of drought across the country.

Tobacco prices down 38pc

8 April 2016 LOW tobacco prices are threatening to dampen the 2016 marketing season which commenced last week with farmers expecting to reap huge rewards this year.

Dairibord halts heifer programme

1 April 2016 LISTED milk processor, Dairibord Holdings (Dairibord) says it has put its Heifer Importation Programme (Hip) on hold on the back of an impending drought.

Banks squeal over hoax messages

29 March 2016 BARCLAYS bank Zimbabwe and NMB Bank have become the latest financial institutions to fall prey to hoax messages circulating on social media.

Zim milk output improves

13 March 2016 ZIMBABWE'S average milk output surged 17,6 percent in January to 5,5 million litres from 4,6 million litres recorded in the same period last year, official data shows.

Zim must develop domestic tourism, says Mzembi

4 March 2016 TOURISM minister Walter Mzembi says there's need to develop domestic tourism as part of strategies to boost the economy. Addressing a press conference this week, Mzembi said Zimbabwe must not depend on international tourists alone to grow the industry.

Zim urged to exploit regional opportunities

1 March 2016 THE constant outbreak of foot and mouth disease (FMD) dampens prospects for trade in meat and meat products as it places limitations on the level of competitiveness due to noncompliance with trade conditions.

Irrigation key for agric revival: Mangudya

15 February 2016 ZIMBABWE must dedicate more efforts towards the establishment and resuscitation of irrigation infrastructure across the country in order to increase irrigable land and reduce the ravaging effects of drought, central bank governor John Mangudya has said.

Zesa owed $1bn: Undenge

5 February 2016 ENERGY minister Samuel Undenge says Zimbabweans, who owe national power utility Zesa Holdings a combined $1 billion, should be responsible and start paying cost-reflective electricity tariffs as a way of reducing load-shedding.

Mzembi scouts for Sez investment

29 January 2016 TOURISM minister Walter Mzembi has said his ministry is scouting for investors interested in pouring fresh capital into the establishment of country's Tourism Special Economic Zone (Sez).

Zim milk production up

12 January 2016 Zimbabwe's average milk output in the 11 months to November 2015 increased 3,3 percent to 52,28 million litres compared to 50,61 million same period last year, data from the Dairy Services Department in the ministry of Agriculture shows.

Farmers dump tobacco

12 December 2015 ZIMBABWEAN tobacco farmers are increasingly dumping production of the golden leaf after at least 69 518 farmers have so far registered to grow the crop for the 2015-2016 farming season compared to 87 597 last year due to poor prices that obtained this year.

Nestle empowers cattle farmers

8 December 2015 NESTLE Zimbabwe has channelled over $11 million to dairy farmers since 2011 in an effort to revive the country's dairy sector.

Baker's Inn rescue Matabeleland villagers

27 November 2015 A LEADING bread-making company has brought an early Christmas cheer to some villagers in the Jambezi and Lupinyu communal lands in Matabeleland North's Hwange District, by donating food hampers to orphans in the area.

Zim imports $17m flavoured water

15 November 2015 Zimbabweans continue to have an affinity for finer things in life despite a contraction in the economy following the importation of flavoured water worth over $17,8 million in the nine months to September 2015, official figures show.

Haz congress on this month

6 November 2015 OVER 250 delegates are expected to attend the Hospitality Association of Zimbabwe (Haz) annual congress in Mutare this month as the industry moves towards creating a $5 billion economy by the end of 2018.