HARARE – British tycoon Nicholas van Hoogstraten says Hwange Colliery Company Limited (Hwange) shareholders have begun discussions to turn around the coal producer’s fortunes. In a brief interview on Monday, van Hoogstraten said he was concerned about developments at Hwange in the past few years. “I have certainly been in discussions with the Hwange board,…
HARARE – Aim-listed miner, Vast Resources Plc (Vast) says it has ramped production at its Pickstone Peerless Mine to around 40 kilogrammes (kg) a month, a move anticipated to see the group pocketing about $170 000 additional monthly income from Reserve Bank of Zimbabwe’s Export Incentive Scheme, it has emerged. Vast Resources chief executive Andrew…
HARARE – Curechem Overseas (Private) Limited has launched an irrigation project in Mahusekwa, Mashonaland East Province, which is aimed at empowering poverty-stricken villagers. According to the company’s group managing director Anup Chand, the project is part of their initiative to give back to the community. “Curechem’s dream in giving back to the community is that…
HARARE – The High Court has acquitted five Zimbabwe National Road Administration (Zinara) executives who had been accused of fraudulently transferring more than $2 million into bogus companies’ accounts in a suspected shady loan deal. High Court judge Emy Tsanga yesterday ruled that the five, Simon Mudzingwa Taranhike, Shadreck Matengabadza, Stephen Matute, Givemore Tendai Kufa…
HARARE – Youths, Sports, Arts and Recreation minister Kazembe Kazembe has taken control of a 1 350-hectare farm belonging to Blackfordby College of Agriculture, situated approximately 60 kilometres north west of Zimbabwe’s capital, Harare, the Daily News has learnt. The chartered engineer’s alleged “farm grab” comes amid President Emmerson Mnangagwa’s vow to stop illegal land…
HARARE – The ruling Zanu PF party’s provincial structures are up in flames, rebelling against the decision by the politburo to give lifelines to individuals they had barred from contesting in the weekend primary elections, the Daily News can report. Read full story in today’s paper. [Adz]
HARARE – Shareholders of integrated financial services group, Old Mutual Zimbabwe are smiling all the way to the bank after the group declared a 7,11 cent per share at a time many companies are failing to reward their investors. Many companies that announced financial results for the year to December 2017 did not declare dividends…
HARARE – The Civil Aviation Authority of Zimbabwe (Caaz) is seeking financial advisors to help in the raising of funds for proposed capital projects at various airports across the country. It is understood that Caaz requires more than $400 million to invest in its airports’ facilities to keep them in line with international standards. Zimbabwe…
HARARE – A Chinese company that reportedly invested $7 million in the mining of several minerals through a joint venture agreement with Kamativi Tin Mines Limited (Kamativi) has filed a High Court lawsuit against Kamativi, accusing it of making a u-turn on the deal and contracting a third party instead. According to court papers, the…
HARARE – Transactions that passed through the Real Time Gross Settlement (RTGS) system in the week to March 29, 2018 were down 14 percent to close the week at $1,5 billion from $1,7 billion, official data shows. In its report for the week under review, the Reserve Bank of Zimbabwe (RBZ) said the total value…
