Business

Council to lease all Rufaro outlets

20 April 2012 HARARE City Council (HCC) has resolved to leaseoff the remaining 72 liquor outlets owned by Rufaro Marketing (Rufaro) after a failed revival plan.

Zimbabweans send R5bn home

14 April 2012 ZIMBABWEANS in South Africa send nearly R5 billion home a year through largely informal channels, it was reported on Thursday.

Industry needs protection - CZI

14 April 2012 THE Zimbabwean government should come up with policies that bar the country from importing substandard products in order to protect its economy, Confederation of Zimbabwe Industries says.

'Stake transfer will be paid for'

8 April 2012 GOVERNMENT is going to pay for shareholding snapped up in foreign firms by creating a Sovereign Wealth Fund that will loan funds to local black investors, a government official has said.

Zim reviews impact of mine fees

8 April 2012 ZIMBABWE is looking into complaints by the mining industry that steep hikes in its fees and taxes will seriously hurt miners by taking 60 percent of every dollar they earn, an official said.

Stanbic profits up

30 March 2012 STANBIC Bank (Stanbic) - owned by South African Standard Bank group - recorded an $11,1 million profit after tax in the year ended December 2011.

DBSA sinks $1m into Zim highway feasibility

23 March 2012 THE Development Bank of Southern Africa (DBSA) says it has invested close to $1million for feasibility studies into construction of the Harare-Beitbridge road, senior executive Tadesse Admassu said.

Political uncertainty hinders recapitalisation

16 March 2012 IT WAS an unforgettable day in the economic history of Zimbabwe, celebrated by most of the country's top company executives and ordinary Zimbabweans alike.

Still no takers for SMM

16 March 2012 RESUSCITATION of operations at Shabani Mashaba Mines (SMM) face delay amid revelations new mine owners Zimbabwe Mining Development Corporation (ZMDC) are yet to secure potential investors.

Tender board impeding development: Matutu

16 March 2012 GOVERNMENT ministries are failing to utilise Public Sector Investments Projects (PSIP) funds due to bureaucracy at the State Procurement Board (SPB) Indeginisation deputy minister Tongai Matutu said.

ZABG fails to publish results

16 March 2012 THE Zimbabwe Allied Banking Group (ZABG) has failed to publish year-end results amid revelations that its auditors have refused to "sign off its financials as it is no longer a going concern".

Populism, statism bad for economy

9 March 2012 STATISM and populism have long had a bearing on the performance of the country's economy for over three decades and continue to muzzle the growth of the economy and the improvement in overall liquidity.

RMB depositors to get paid

9 March 2012 RENASSANCE Merchant Bank (RMB) says depositors whose funds were trapped in the bank when it was placed under curatorship will get full payment on their accounts within 12 months.

Kingdom launches mastercard

9 March 2012 KINGDOM Bank is set to launch a MasterCard suite of products in Zimbabwe following its successful collaboration with MasterCard Worldwide.

Dairibord to exit Charhons

2 March 2012 DAIRIBORD Holdings Limited (DHL) says it has resolved to dispose of its 40 percent stake in loss-making sweets and biscuits manufacturer M E Charhons (Private) Limited, Charhons says.

RBZ gets $20m boost

2 March 2012 FINANCE minister Tendai Biti has finally disbursed $20 million to the Reserve Bank of Zimbabwe (RBZ) to restore its lender-of-last-resort function - a crucial step in the full recovery of the central bank.

Brown 'stunned' as Kasukuwere stands by demands

24 February 2012 SAVIOUR Kasukuwere, Zimbabwe's minister of Youth Development, Indigenisation and Empowerment, said he stood by a demand issued at a public rally earlier this week that Impala Platinum (Implats) relinquish its shareholding in its 50 percent held Mimosa P

No capital for indigenisation: Mugabe

24 February 2012 FOR the first time President Robert Mugabe, during an interview marking his 88th birthday, conceded that the implementation of the indigenisation policy was bogged down by capital constraints.

De-industrialisation hits Byo council

17 February 2012 BULAWAYO City Council (BCC) missed its revenue target for the 10 months to October by $42 million-plus due to a dwindling number of income sources caused by massive de-industrialisation in the city.

Inflation cools to 4,3pc

17 February 2012 ZIMBABWE'S inflation cooled to 4,3 percent year-on-year in January, a 0,6 percentage points drop on the 4,9 percent recorded in December, the National Statistics Agency said on Wednesday.

Businesses face hefty fines: Pasi

14 February 2012 THE Zimbabwe Revenue Authority (Zimra) has introduced heavy fines on businesses failing to install fiscalised tax registers (FTR)'s, commissioner-general Gershem Pasi has announced.

D-Day for banks

14 February 2012 STRUGGLING banks could be forced to merge or lose their licences if they fail to meet a Reserve Bank of Zimbabwe (RBZ) deadline for the prescribed $12,5 million minimum capital requirement today.

AfricanSun wraps up restructuring

13 February 2012 HOSPITALITY group African Sun Limited (ASL) says it has completed the restructuring of its operations.