Business

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.

Cut costs with self-catering holiday

23 October 2015 MOST Zimbabweans are hesitant go on holiday because in most cases they do not know how to save up for it or are ignorant about how much the holiday may cost.

Zesa not happy with IPPs

17 October 2015 STATE energy utility provider Zesa Holdings Private Limited (Zesa) says Independent Power Producers (IPPs) contribution to national domestic energy production is very low resulting in increased load shedding.

Manica governor calls for more border posts

9 October 2015 Mozambique's Manica govenor Alberto Ricardo Monhlane officially opened the Manicaland Agricultural Show last week with a call for more official border posts to facilitate greater interaction and cooperation between his Shona-speaking province and Manicaland.

My Emirates business class experience

2 October 2015 It doesn't matter who you are - backpacker or big-budget traveller, rich person or poor - there are some travel experiences that almost everyone dreams of splashing out on.

Corruption affects diamond security

25 September 2015 MARANGE diamond field security is deteriorating amid an influx of illegal and corrupt activities involving guards manning the area and illegal panners, a leading extractive sector research institution has said.

IMF to develop 3-year reform programme for Zim

18 September 2015 THE International Monetary Fund (IMF) is set to begin work on the development of a comprehensive three-year reform programme with Zimbabwe, the IMF mission head for Zimbabwe Domenico Fanizza said.

Fastjet increases Harare-Dar flights

11 September 2015 LOW-COST pan-African airline, Fastjet, has increased the number of flights on its Harare -Dar es Salaam route from four to seven, in response to strong passenger demand.

Zim in $30m trade deficit with china

10 April 2015 ZIMBABWE'S trade deficit with China rose to $30 million in February after the country imported goods valued at $30,4 million against exports of $384 000 to the giant Asian economy.

Steep CBD rentals choke retailers

10 April 2015 HARARE's central business district (CBD) retail space rentals are too high and property companies need to review rates downwards or risk losing customers, the Confederation of Zimbabwe Retailers Association (CZRA) said.

Poor infrastructure slowing economic development: AfDB

3 April 2015 ZIMBABWE'S poor infrastructure is slowing economic development in a country badly in need of investments, the African Development Bank (AfDB) has said.

Embrace e-commerce, Zim urged

3 April 2015 ZIMBABWE should narrow the gap separating itself from developed countries by aggressively embracing electronic commerce (e-commerce) platforms that can boost levels of trade as well as socio-economic development, according to local technology experts.

Airzim dreams of Dreamliner

27 March 2015 NATIONAL airliner Air Zimbabwe (Airzim) is planning to acquire a Dreamliner (Boeing 787) aircraft as part of the firm's long term strategy to be competitive and lure back customers when it resumes international routes.

Depositors call for RBZ protection

27 March 2015 ZIMBABWE Banks and Allied Workers Union (Zibawu) says the central bank must tighten its monitoring systems to prevent depositors from losing their money in collapsing financial institutions.

Fastjet pursues Jo'burg flights

20 March 2015 TANZANIA-based budget airline Fastjet plans to introduce more flights, including Harare-Johannesburg, South Africa, as part of strategies to expand its footprint in Zimbabwe.

Corrupt govt officials to blame: Mugabe

13 March 2015 PRESIDENT Robert Mugabe has blamed government officials of hampering foreign investment into Zimbabwe, accusing them of corruption and "pursuing their interests above national interests".

Auctioneers make it big in waning economy

13 March 2015 DESPITE the prevailing tight liquidity conditions in Zimbabwe coupled with waning economic prospects, there is a certain segment of business that is flourishing - the auctioneers.

MasterCard launches cross-border remittance services

6 March 2015 ZIMBABWEANS are set to benefit from a Mastercard and Econet Wireless partnership aimed at easing cross-border remittances. The mobile group's subsidiary Steward Bank will be the platform used by depositors to receive funds.

Curb illegal transactions, Zimbabwe urged

6 March 2015 GOVERNMENT must come up with a mechanism to immediately curb Illicit Financial Flows (IFFs) in order to free fiscal space, the Zimbabwe Economic Policy Analysis and Research Unit (Zeparu) said.

Promote domestic tourism - RBZ

6 March 2015 THE Reserve Bank of Zimbabwe (RBZ) says the country must introduce a two-tier pricing system in the tourism sector as a way of boosting domestic tourism.

Miners, workers headed for wage deadlock

27 February 2015 MINING companies and labour unions are headed for a salary hike deadlock as some workers' representatives claim the three percent wage increase awarded to platinum and diamond mineworkers is inadequate.

Aquarius' indigenisation deal yet to be concluded

20 February 2015 Aquarius Platinum Limited says it is yet to get Zimbabwe government's approval for its indigenisation compliance plan, three years after submission.

RBZ licenses Zim's first microfinance bank

20 February 2015 THE Reserve Bank of Zimbabwe (RBZ) has licensed the country's first deposit-taking microfinance bank (MFB), the African Century Limited (ACL).

Zinara earns $14m from Limpopo bridge

13 February 2015 THE Zimbabwe National Roads Administration (Zinara) is pocketing a cool $14 million-plus yearly from the management of the New Limpopo Bridge (NLB), which it took over in September last year.

Eight more firms for Central Securities Depository

13 February 2015 EIGHT more companies are set to be cleared and settled on the Central Securities Depository (CSD) in electronic form with effect from March, 2015, the Chengetedzai Depository Company Limited (Chengetedzai) said.

Govt collects $192m mining royalties

6 February 2015 MINING royalties collections for the year ended December 2014 amounted to $191,6 million, exceeding a $175 million target by 10 percent, the Zimbabwe Revenue Authority (Zimra) said.

More Mutare companies close shop

30 January 2015 ZIMBABWE'S sole manufacturer of knitting yarn Karina Textiles (Karina)'s property and machinery will be disposed of at an auction to be held early next month as part of final liquidation efforts.

Banking sector not safe: Analysts

23 January 2015 ZIMBABWE'S banking sector remains far from normal as more banks continue to collapse while the country's economy continues to worsen, analysts have said.

Zimbabwe crafts bio-fuels policy

16 January 2015 ZIMBABWE is working on a bio-fuels policy aimed at stimulating investments and increased production in the sector.

Management shake-ups hit listed companies

9 January 2015 THE year 2014 has witnessed management shake-ups in several counters listed on the Zimbabwe Stock Exchange (ZSE).

No takers for Chinese yuan, Indian rupee

13 December 2014 ZIMBABWEANS have not responded positively to the introduction of the Chinese yuan and the Indian rupee to the multi-currency basket early this year as their demand has been insignificant, according to the Reserve Bank of Zimbabwe (RBZ).

'Fully adopting US dollar a mistake'

13 December 2014 ADOPTING the United States dollar all the way was one of the deadliest mistakes Zimbabwe has ever made, Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said.

'Tax payers evading obligations'

10 December 2014 FINANCE minister, Patrick Chinamasa, in his budget extended the tax amnesty period on tax defaults of all taxes administered by the tax-collecting body, Zimbabwe Revenue Authority (Zimra), from six months to 15 months.

Food project to strengthen controls

10 December 2014 ZIMBABWE'S agricultural sector is set to benefit from African Solidarity Trust Fund's (ASTF) recently launched $4 million project which aims to strengthen controls of food security threats in the southern African region.

Trade deficit narrows to $2,9 billion

3 December 2014 ZIMBABWE'S import bill declined by 10 percent in the first 10 months on the back of limited disposable incomes and lack of capital for industry, the national statistics agency said.

Competition helps consumers

14 November 2014 THE cost of living for a family of six in Zimbabwe decreased by $0,04 from $593,17 recorded in September 2014 to $593,13 by end of October 2014.

Zim to host Startup Weekend

7 November 2014 ZIMBABWE will be hosting Startup Weekend (SW) - a platform for aspiring technology entrepreneurs as part of efforts to leverage talent and economically empower creative minds towards the end of this month.

FBC constructs 800 housing units

3 November 2014 FBC Holdings (FBCH) has spent over $35 million in total on constructing residential development projects and mortgage financing as part of efforts to alleviate housing challenges in the country.

Invest in agriculture: RBZ

3 November 2014 ZIMBABWE must invest in agriculture to grow the economy and attain food sufficiency, the central bank has said.

Financial sector key to enterprises' growth

10 October 2014 ZIMBABWE's financial sector should enable the growth of small to medium-sized enterprises by allowing them access to finance.

'Beekeeping has potential for Zim economy'

10 October 2014 THE fourth All-Africa International Honey Expo, dubbed ApiExpo Africa 2014, which began in Harare on Monday, has the potential to grow the economy, apiculture experts have said.

'No oil deposits in Zim'

6 October 2014 ZIMBABWE has no proven oil deposits, deputy Mines minister Fred Moyo has said.

Boost for tobacco farming

6 October 2014 TOBACCO farming has received a major boost from banks following revelations that financial institutions have pledged to continue funding the golden leaf farmers as the sector has proved to be more lucrative compared to other crops such as maize.

Wheat crisis deepens

17 September 2014 ZIMBABWE'S food security outlook continues to deteriorate further following indications that the upcoming winter wheat harvest may be the country's worst since attaining independence in 1980.