HARARE – The Reserve Bank of Zimbabwe (RBZ) has increased the amount of foreign exchange that gold companies can retain after a shortage forced some mines to close. Metal producers in Zimbabwe have been struggling to meet production costs because of the shortage of hard currency. That forced RioZim to temporarily shutter three of its…
HARARE – The Tourism Business Council of Zimbabwe (TBCZ) says the country should do more to improve its visibility on the international tourism map. Tich Hwingwiri, the TBCZ president, said various stakeholders should come up with a comprehensive marketing strategy to market the country as an ideal tourism destination, in the face of increasing competition…
HARARE – The number of Zimbabweans earning a living from the informal sector rose to 95 percent in 2014 from 84 percent in 2011, a new study by the International Labour Organisation (ILO) has revealed. The latest statistics, captured in a research titled the “Zimbabwe Assessment Report on the Enabling Environment for Sustainable Enterprises” (EESE),…
HARARE – The Postal and Regulatory Authority of Zimbabwe (Potraz) has called for collaboration among various stakeholders to ensure that the country achieves its desired targets in the information and communication technology (ICT) sector. Zimbabwe is currently experiencing acute foreign currency shortages due to low exports, high government expenditure and huge external debts, resulting in…
HARARE – Foreign investors were net buyers of $1,3 million shares on the Zimbabwe Stock Exchange (ZSE) in last week, with particular interest in Old Mutual and Delta Corporation. According to figures from the local bourse, foreign purchases accounted for $13,3 million worth of shares while sales amounted to $20,8 million during the period under…
HARARE – Steward Bank achieved a 123 percent growth in profits to $19 million during the six months ended August 31, 2018 compared to $8,5 million same period prior year. Bernard Chidzero, the bank’s chairperson, said the double digit growth, which was recorded despite an extreme challenging environment characterised by liquidity challenges and price increases…
HARARE – Border Timbers shares were yesterday suspended from trading at the Zimbabwe Stock Exchange after the company failed to publish its financial results. The timber producer has not been able to publish its results because of international arbitration proceedings between the company, other private parties, and the Government of Zimbabwe, at the International Centre…
HARARE – Industry says the controversial Intermediary Money Transfer Tax should be amended in the upcoming 2019 National Budget to improve the ease of doing business in the country. The Confederation of Zimbabwe Industries (CZI), in its budget proposal submissions, pointed out that the two percent tax was eating into profits, highlighting that while it…
HARARE – The Zimbabwe Consolidated Diamond Company (ZCDC) has come under fire from various stakeholders for roping in artisanal miners in the lucrative sector. This was after ZCDC chief executive Morris Mpofu last week indicated that the State-owned firm was mulling to introduce small-scale miners to help it boost production capacity. “We are considering ring-fencing…
HARARE – Zimbabwe Stock Exchange-listed fast foods operator, Simbisa Brands, has launched a new technological application which will form a core part of its market strategy going forward. The Dial-A-Delivery Application, which the company unveiled recently, is meant to position the business as a key player in the mobile convergence of services, which has taken…
