Willdale says its profits in the five months to February are ahead of target despite the current economic crisis. Nyasha Matonda, the company’s chief executive, told shareholders at an annual general meeting that sales volumes in the five-month period were 22 percent and 18 percent below prior year and budget largely as a result of…
The business community here last week hailed government for floating the exchange rate but urged policy-makers to move with haste to fully operationalise the interbank market. Last month, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya liberalised the foreign exchange (forex) market by allowing the RTGS dollar to freely trade with other units making up…
The Zimbabwe Special Economic Zones (Zimseza) has granted Prospect Lithium Zimbabwe a special economic zone status in a development that will bring into the country US$165 million in foreign direct investment. Zimseza and Prospect Lithium are now working on the modalities to operationalise the zone. [GoogleAd] The project will attract foreign direct investment to the…
Bindura Nickel Corporation (BNC) says discussions between its ultimate holding company Asa Resource Group (Asa) and a third party relating to the sale of a majority stake in the mining company have been terminated. The company had issued cautionary statements from December last year to mid-February this year advising shareholders that negotiations were in progress….
Rurafo Marketing (Private) Limited is in serious breach of international best practices and corporate governance rules after it emerged that the Harare City Council (HCC)’s liquor business is technically operating without a board. Minutes of HCC’s finance and development committee indicate that the company is only operating with three people on its board who do not…
When people talk of women empowerment or come up with brilliant innovative start-ups that empower members of the gentle sex, they tend to prioritise those in urban areas while marginalising their rural counterparts. And yet both have great potential in transforming economies in the world. [GoogleAd] Celebrating rural women last year, United Nations secretary-general Antonio Guterres…
HARARE – India’s export and import bank (Eximbank) is expected to share infrastructure notes with Zimbabwe when its officials visit the country next week. [GoogleAd] The Indian lender, which plays the role of coordinator and facilitator for the promotion of Project Exports covering overseas industrial turnkey projects, civil construction contracts, supplies as well as technical and…
Cassava Fintech South Africa, a member of the Econet Group, has launched an enhanced cross-border money transfer service from South Africa to the rest of Africa. [GoogleAd] Cassava Fintech International group chief executive Darlington Mandivenga said that although the remittances space has a number of players, Cassava is not “just another player”. “We do things differently…
HARARE – Determination, hard work and innovation has paid for local food production company Amandla Brands after they scooped the top award under the CBZ Youth Entrepreneurship (Yep) award. [GoogleAd] For coming first under the Start-Up Business category, Amandla Brands which is a subsidiary of Esteem Communications, a public relations and brand development company walked away…
SIMBISA Brands (Simbisa) recorded a 108 percent increase in profit to $16,514 million during the half year ended December 31, 2018 compared to $7,990 million achieved in prior period attributed to increased customer counts. [GoogleAd] Revenue was up 44 percent to $143,242 million compared to $99,368 million achieved in the previous comparable period. Addington…
