Business

HARARE – The Insurance and Pensions Commission (Ipec) says it will this year intensify its drive for micro-insurance to boost Zimbabwe’s insurance penetration, which it says is low. Micro-insurance products offer coverage to low-income households or individuals who have little savings. It is tailored specifically for lower valued assets and compensation for illness, injury or…

HARARE – Regional airline, Air Tanzania will begin operating flights on the Dar es Salaam and Harare route tomorrow. The flight, which will Depart Dar es Salaam at 10:10 am and is expected to arrive at the Robert Mugabe International airport at 11:25am, is expected to create vital connectivity between the two countries. [GoogleAd] Air Tanzania will…

HARARE – China has spent $2,5 billion on Zimbabwe, which is by far the highest amount of money it has ever advanced to any African country. Speaking at the 2019 Spring Festival Gala held in Harare on Sunday, charge d’affaires of the Chinese Embassy, Zhao Baogang, said the money has been advanced to the country through loans…

The central bank’s delay in announcing the monetary policy statement (MPS) has resulted in companies operating cautiously, the Confederation of Zimbabwe Industries (CZI) has said. Traditionally, the MPS is announced between end of January and first week of February, but hasn’t to date. [GoogleAd] “Our major concern is how the currency issue will be addressed. Until…

Victoria Falls- Zimbabwe’s business people must actively consider running for Parliament, a former United Nations under-secretary general has said, adding it would be their only path to influence public policy as they voice stark disagreements with how the economy is being run. [GoogleAd] Yumkella, who is running for president in Sierra Leone, said the legislative power…

HARARE – African Distillers (Afdis) says its profit for the six months to December 31, 2018 increased by 157 percent to $7,1 million compared to $2,7 million registered in the 2017 corresponding period, largely driven by firm demand across all product categories. Pearson Gowero, the company’s chairperson, said despite firm demand the company could not…

HARARE – Precision Oil Seeds International (Precision) says it has contracted farmers to plant over 15 000 hectares (ha) of sunflower this year in an effort to reduce importation of cooking oil raw materials. The country, which is battling a debilitating foreign currency crisis, recently lifted a ban on cooking oil imports after it experienced intermittent shortages…

HARARE – Cambria Africa Plc (Cambria) says it is in discussions to increase its shareholding in Radar Holdings (Radar) in a development aimed at hedging the firm against currency uncertainty. The London-listed firm said its moves at the construction-allied and brick manufacturing company were also in line with realisation that Radar holds a lot of potential…

BULAWAYO – Government has asked the Bulawayo City Council (BCC) to consider leasing out its dilapidated beerhalls to retail operators whose shops were damaged during last month’s protest over steep increases in the price of fuel. Bulawayo Provincial Affairs minister Judith Ncube has tabled the proposal before BCC, saying this development will go a long way…

HARARE – PPC South Africa says its Zimbabwean unit will increase exports to neighbouring countries to sail through the impact of inflation and liquidity constraints on the business. The regional cement maker said other liquidity management and cash preservation measures will include the share buy-back of PPC shares listed on the Zimbabwe Stock Exchange through…