HARARE – De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining minister Winston Chitando said. A spokesman for De Beers, an Anglo American unit, said in an email it was not mining…
HARARE – Former banker and immediate past chairperson of the Zimbabwe Investment Authority, Nigel Chanakira said the country’s economy had largely gone informal and thus represents a potentially significant source of tax revenue for the cash-strapped government. Speaking at the Financial and Economic Rejuvenation Indaba, host by Global Renaissance Investment last week, Chanakira said, the…
HARARE – The Securities and Exchange Commission of Zimbabwe (SecZim) is seeking admission into the International Commission of Securities Commissions (IOSCO) an executive has said. SecZim chief executive officer Tafadzwa Chinamo told a stakeholder meeting that over the years, the commission had been seeking admission to the IOSCO — which brings together the world’s securities…
HARARE – Government says it has begun to reap fruits of infrastructure sharing among the country’s three major mobile network operators, with studies indicating increased costs reduction. This comes at a time government, through the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), is leading the way in implementing infrastructure sharing by constructing model base…
HARARE – South African fast-food brand, Barcelos Flame Grilled Chicken has spread its wings to Harare with the opening of franchise outlets in the city. Founded in Pretoria, South Africa in 1993, Barcelos is popular for its flame grilled Portuguese recipe flavours. The restaurant entered the Zimbabwean market when it opened its doors in Bulawayo…
HARARE – The early purchase of seed by government for its Command Agriculture programme has boosted SeedCo’s financial performance for the six months ended September 30, 2018, a local equities group has said. IH Securities (IH)’s commentary come as interest earned on Treasury Bills (TBs) held boosted the listed seed producer’s earning by 102 percent…
HARARE – The High Court in Mutare will today hear a case in which Chisumbanje villagers have dragged Green Fuel to court over about 500 hectares of cotton and maize fields the ethanol producer has allegedly arbitrarily annexed for its sugarcane fields expansion. Passmore Nyakureba of the Zimbabwe Lawyers for Human Rights (ZLHR) — who…
HARARE – One hundred girls from Harare’s Mabvuku and Tafara graduated at Manresa Club last Friday after undergoing vocational training under Larfage Cement Zimbabwe’s corporate social responsibility programme called Simuka Upenye Empowerment Programme. The girls were trained in brick and block laying, clothing, construction as well as professional cookery and bakery. The cement company launched…
HARARE – A storm is brewing over claims by some stockbrokers of alleged interference in the independence of the Zimbabwe Stock Exchange (ZSE) by one of the country’s leading asset managers. Highly-placed sources told the Daily News yesterday that some stockbrokers were contemplating lodging a formal complaint to the Securities Exchange Commission (Sec) against the…
HARARE – Mashonaland Holdings (MSH) says it reported a $3,08 million profit for the year ended September 30, 2018. This represented a 19 percent increase from a profit of $2,56 million achieved by the listed property company in the prior comparable period. Supporting the company’s performance improvements during the period were slight increments in occupancy…
