© THE Confederation of Zimbabwe Industries (CZI) says it would support an upward electricity tariff if this will help to reduce load shedding. [GoogleAd] This comes as the country’s struggling businesses are buffeted by new headwinds including acute power shortages, rising fuel and labour costs, and lack of access to cheap capital for retooling. Zimbabwe…
© SA loses African gold crown to GhanaSOUTH Africa’s struggling gold industry has suffered yet another humiliation, losing its status as the continent leader to Ghana. [GoogleAd] The country that led global gold production for a century and extracted about half the bullion ever mined is now Africa’s second-largest gold producer. Output is shrinking as…
© STANBIC Bank Zimbabwe (Stanbic) and Zimplats have combined forces to support people with albinism. [GoogleAd] The two organisations have been actively supporting people with albinism in their individual capacities and have embarked on a partnership to benefit Binga, Hwange and Lupane districts. Stanbic and Zimplats recently handed over spectacles and sunscreen lotions to 27…
© THE Insurance Council of Zimbabwe (ICZ) says levies and taxes on insurance premiums have made insurance unaffordable in the country, threatening the profitability of the industry and exerting pressure on the country’s insurance penetration. [GoogleAd] This comes as the country’s insurance penetration has been very low relative to other countries in the region due…
© RENTAL fees in Zimbabwe’s volatile property market have shot up by 80 percent in the past six months, as real estate owners respond to the country’s deteriorating economic situation highlighted by rampaging inflation and rising costs, a new report has revealed. [GoogleAd] Zimreal Property Investment Forum, which released the report ahead of its key…
© WORKERS in the sugar milling industry have been awarded a 45 percent salary increase to cushion them against the harsh economic conditions, government has announced. [GoogleAd] According to the government gazette, the least paid employee in the Sugar Milling Industry — who was earning $217 a month prior to the adjustment — will now…
© PROSPECT Resources (Prospect) says it is in discussions with international financial institutions for possible project financing of its Arcadia Lithium project in Zimbabwe. [GoogleAd] The Australia-based lithium developer said the discussions are at various stages of maturity and contemplate a variety of structures from traditional debt and equity financing through to 100 percent debt…
© THE Insurance and Pensions Commission, (Ipec) has suspended Regal Insurance (Regal) from underwriting any business following an investigation into the affairs of the company. Regal is being investigated on allegations of fleecing policy holders and failure to settle policy claims. Blessmore Kazengura, the Ipec acting commissioner, said the investigations were done in terms of…
© LAFARGE Cement Zimbabwe (Lafarge) says government measures to stabilise the country’s macro-economic environment will pay dividends. Kaziwe Kaulule, Lafarge’s chief executive officer, said the group looks forward to increasing production and sales volumes as well as reinvesting in the business. “We started 2019 very strongly and with the measures taken to stabilise the macro-economic…
© Zeco Holdings (Zeco) says it narrowed its losses by half-a-million during the year ended December 2018 to $1,59 million due to “aggressive marketing”. The Zimbabwe Stock Exchange’s sole engineering company has been in the red since the introduction of the multicurrency system in 2009. [GoogleAd] Phillip Chiyangwa, Zeco board chairperson, said the group’s…
