Business

TOURISM minister Mangaliso Ndhlovu has urged the sector to pursue an all-inclusive approach to regain its status as a huge contributor to Zimbabwe’s gross domestic product despite the negative effects of the Covid-19 pandemic.  This comes as tourism has been able to attract at least US$976.6 million investments during the pandemic, which is just US$3…

AT LEAST nine disgruntled war veterans have dragged Finance minister Mthuli Ncube to court and are demanding an increase to their monthly pensions.  This comes after the former freedom fighters were recently arrested for gathering at Ncube’s offices and demanding a review of their current $16 000 monthly pension earnings.   The nine are now…

A LOCAL farmer Patrick Makuzwa has dragged Cairns Foods Limited (Cairns) to the High Court demanding US$46 000 in damages, accusing the company of selling him faulty potato seed in 2019. In his summons filed last week, Makuzwa told the court that he entered into an agreement with Cairns in which the company would fund…

BRITISH American Tobacco Zimbabwe’s (BAT) gross profit rose to $30,8 million for the half year to June 30, a five percent increase from prior year due to an increase in sales volumes, portfolio transformation, upgrading of machines and inflationary price adjustments. In a statement accompanying the company’s financial results, BAT chairperson, Lovemore Manatsa said despite…

THE 15th edition of the Sanganai/Hlanganani World Tourism Expo 2021, which is to be held virtually for the second-year running because of the Covid-19 pandemic, has been set for October 27 to 29. Zimbabwe Tourism Authority (ZTA) acting chief executive officer Givemore  Chidzidzi  yesterday said the recruitment of international buyers  for this year’s edition had already commenced, adding…

ENVIRONMENT minister Mangaliso Ndlovu says Covid-19 has battered the tourism industry after arrivals declined by 1, 7 million last year compared to the 2019 statistics. Speaking during the 2021 World Tourism Day Symposium at Great Zimbabwe University (GZU) in Masvingo yesterday, Ndlovu said the numbers had dropped to figures recorded in 1991. “This year’s commemorations…

MATOBO Rural District Council (MRDC) in Matabeleland South has accused mining companies of evading paying levies despite benefitting from the area’s vast resources.  MRDC chief executive Elvis Sibanda, who could not state the exact amount owed by miners off head, said the miners prefer paying money directly to central government while not clearing their arrears…

FINANCIAL service group Old Mutual Zimbabwe (OMZ) recorded an inflation-adjusted profit after tax of $10,8 million for the six months ended June 30, from $8,9 million achieved in December last year.  This was due to the group’s ability to transform the business in line with the needs and demands of its customers and improving efficiencies…

ECOBANK says it is optimistic that the performance of the bank will be sustained in the second half of the year after recording a profit after tax of $1,1 billion for the year to June 30 a slowdown from $1,6 billion achieved last year.  This comes as the bank recorded an inflation-adjusted operating profit of…