HARARE – Zimbabwean resources companies have cut deals worth $3 million-plus with DRC corporations after participating at a mining exhibition in the central African country. The firms are working with large mining corporations such as Ivanhoe Mines, Kibali Gold Mine, Gecamines and Tenke Fungurume — whose mine holds one of the world’s largest known copper…
HARARE – The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz)’s 2018 first quarter (Q1) sector report shows Econet Wireless maintained its customer and revenue market share leadon the back of consistent growth in the key industry performance indicators. The sector performance report, issued every quarter by the industry regulator, revealed that Econet was the…
HARARE – ZB Bank (ZB) says its technological infrastructure project in the border city of Mutare has boosted financial inclusion in the remote region. Its chief executive, Ronald Mutandagayi, said the introduction of digital payment systems saw an increase in the region’s population that now keep savings outside the formal banking system. “Prior to our…
HARARE – Diversified insurance group, Nyaradzo Life Assurance Company has launched a funeral policy called Sahwira International Plan (Sip) meant for Zimbabweans in the Diaspora. Sahwira International Plan, which Nyaradzo chief executive Philip Mataranyika has described as a “solution and not a product,” will guarantee several benefits which include a coffin with a hermetic seal…
HARARE – Tourist arrivals in Zimbabwe went up 15 percent to 554 417 from 480 510 in the quarter ended March 2018, latest statistics revealed. According to the Finance ministry’s Fiscal Policy and Advisory Services Department update, tourism receipts also grew 20 percent to $190 million during the period under review. “Receipts…grew by 20 percent…
HARARE – Zimbabwe’s mobile penetration rate declined by 18,1 percent to 84,6 percent in the first quarter of 2018 from 102,7 percent recorded in previous comparable period, latest data show. Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) director general Gift Machengete attributed the slump to a 16,8 percent decrease in active mobile subscriptions during…
HARARE – President Emmerson Mnangagwa’s audacious plans to construct and rehabilitate the country’s road infrastructure to try and kick-start Zimbabwe’s sputtering economy is on course, The Financial Gazette has established. Early this year, the government — through the Zimbabwe National Roads Administration (Zinara) — set aside over $232 million fund for the emergency road rehabilitation…
HARARE – Listed financial services group, FBC Holdings (FBC), has so far deployed 7 000 Point of Sale (POS) machines around the country in a drive to promote the use of cash-lite transactions, an executive with the bank said. FBC chief executive John Mushayavanhu last week said despite operating in an extremely difficult operating environment,…
HARARE – Listed mining concern Bindura Nickel Corporation (BNC) says it is operating on shaky ground despite recording $5,8 million after-tax profits in the full year to March 31, 2018. The group’s chairperson Muchadeyi Masunda said despite posting healthy profits, BNC’s total assets exceeded total liabilities by $46,1 million. The group’s current liabilities exceeded its…
HARARE – An online system allowing ordinary people to buy shares on the Zimbabwe Stock Exchange (ZSE) is set to be launched on July 16. According to a notice issued by the Securities and Exchange Commission of Zimbabwe (SECZ) yesterday, the platform, named C-TRADE, allows for easy access to the ZSE for everyone. “Developed by…
