HARARE – Zimbabwe needs to fix its foreign exchange shortage if it is to attract more investment, RJ Corporation chairperson Ravi Jaipuria said. RJ Corporation owns Varun Beverages which in turn holds the PepsiCo licence in Zimbabwe. He told journalists that while his group was not in a hurry to repatriate, investors needed the certainty…
HARARE – SeedCo says it is occupied with dealing with product shortfalls which have negatively impacted on the seed company. The Zimbabwe Stock Exchange listed pan-African company’s chief executive officer Morgan Nzwere said the company is working hard to fix its product shortfall issues which dragged its volumes down five percent during the year ended…
HARARE – Zimbabwe Stock Exchange-listed Powerspeed Electrical Limited (Powerspeed) profit after tax for the half year to March 31, 2018 surged to $2 million from $581 000 prior comparable period buoyed by an increase in throughput. The group said its turnover, at $37,2 million, was 55,3 percent up on the previous period, with the company…
HARARE – In the face of a declining economy, local companies are diverting workers’ employment tax (PAYE) due to the Zimbabwe Revenue Authority (Zimra) and converting it to support their own cash-flows and overhead expenses, it has emerged. Companies, by virtue of the law, act as agents and are mandated to withhold PAYE from their…
HARARE – President Emmerson Mnangagwa yesterday acknowledged the worsening cash crisis and encouraged increased use of plastic money. Addressing mourners during the burial of the late national hero John Chimbandi at the National Heroes Acre, Mnangagwa — hoping to retain power in the first vote due on July 30 since Robert Mugabe’s downfall in November…
HARARE – Econet Wireless Zimbabwe (EWZ), the country’s largest telecom and technology company, has completed the installation of a solar power system at its head office in Msasa, Harare. The 99.9KW solar system, which was installed by Distributed Power Africa (DPA), a pan-African renewable energy company with links to the Econet group, will generate enough…
HARARE – The global trend towards healthy living through healthy eating, especially of sugar and additive-free foods, super foods, and organic, nutrient-rich supplements provides an excellent opportunity for Zimbabwe, especially in developed markets such as Europe. Zimbabwe’s trade promotion body, Zimtrade, said local producers of dried fruit and related healthy snacks, Baobab fruit powder, Aloe…
HARARE – A fourteen-member trade mission from the Netherlands is in the country to explore possible opportunities of trade in horticulture and livestock. Addressing the delegation at an event organised and hosted by BancABC and its partners the Netherlands African Business Council (NABC) and the Southern African Netherlands Chamber of Commerce to promote trade between…
HARARE – Zimbabwe has in the past few months received over $400 million in foreign direct investment and the country has potential to rake in billions of dollars, a top economist has said. Neville Mandimika, an economist at South Africa’s Rand Merchant Bank, said local markets have been buoyed by the ascendency of President Emmerson…
HARARE – Barclays Bank Zimbabwe has donated $70 000 to the Zimbabwe Farmers Union (ZFU) under third phase of the “Fit for Life” programme which is aimed at contributing to financial inclusion and food security in the country. Speaking at the handover ceremony at Nyamashato Primary School in Murewa, Barclays managing director Sam Matsekete said…
