© RIOZIM says it achieved an after-tax profit of $38 million for the six months ended June 2019, up from $406 000 in the previous comparable period. Saleem Beebeejaun, RioZim’s board chairperson, yesterday said the resources group’s revenue grew to $137 million, from $44 million in the prior period, even though gold production declined during…
© FINANCE ministry secretary George Guvamatanga, pic- tured, says government is considering adopting an electronic trading platform in the financial services sector to guarantee transparency and ensure monitoring of live market data. Zimbabwe has for the past few years struggled with an asymmetric flow of records, resulting in misreporting of trading data by some financial…
© MIMOSA Mines (Mimosa) is currently running above capacity at 110 percent and will be securing new plant machinery from South Africa to remove inefficiencies. Mimosa’s managing director Fungai Makoni said the platinum miner has been increasing production year- ly, and this year increased output by one percent. [GoogleAd] “We are running above capacity and…
© ZIMBABWE’S insurance firms are struggling to define their risk appetite due to the country’s economic crisis and foreign currency shortages, the sector’s regulator has said. Risk appetite relates to the amount and type of risk that an organisation is willing to take in order to meet its strategic objectives. [GoogleAd] Insurers in particular choose…
© GOVERNMENT says it has intensified cooperation with the African Regional Intellectual Property Organisation (Aripo) to protect local innovators from losing the rights to their inventions. Aripo is an inter-governmental organisation that facilitates coop- eration among member states in intellectual property matters, with the objective of pooling financial and human resources, and seeking technological advancement…
THE development of Mupani Mine by Zimplats, is progressing well and is expected to be completed ahead of schedule, an official said. The new mine will replace Rukodzi and Ngwarati mines which will be depleted in 2021 and 2025 respectively. “We anticipate the project will be completed on time and with the ap- proved budget…
© Since independence from British rule in 1980, Zimbabwe’s marketing was limited to nationalistic propaganda and its most omnipresent advertising line was not Coca-Cola, but late schoolteacher-turned-guerrilla fighter, Robert Mugabe, who bespattered offices and walls across the impoverished country. [GoogleAd] Now, market-style improvements to enlarge the private sector mean a renewed burgeoning of small businesses,…
© SOUTH Africa’s Impala Platinum Holdings (Implats) says it is seriously observing Zimbabwe’s economic crisis before investing new capital into the country. [GoogleAd] “We continue to monitor developments in Zimbabwe, with close interaction and communication with the Zimbabwean government to counter the challenges presented by the uncertain macro-economic outlook,” Nico Muller, the group’s chief executive,…
© THE push for Zimbabwe to review a two-decade-long ban on producing genetically modified crops (GMOs) intensified last week, with leading scientists and a new breed of tech savvy legislators agreeing that government was pursing destructive conservative policies — the greatest threat to rebuilding a failing economy. [GoogleAd] A difficult-to-reverse change in climate, booming populations,…
© THE Zimbabwe Power Company (ZPC) says it failed to meets its generation target by 38 percent in the third quarter due to low water levels in Kariba Dam and frequent breakdowns at Hwange thermal power station. The Zesa Holdings unit said it generated 1 506,44 gigawatts per hour (GWh) against 2 365,61 GWh in…
