HARARE – Africa Finance Corporation (AFC), which holds $3,2 billion in assets under management, says it is ready to pour in millions of dollars needed for the construction and refurbishment of infrastructure in Zimbabwe. This was after the southern African country last week became the latest member to join the international money lender. “In becoming…
HARARE – Zimbabwe National Roads Administration (Zinara) managers, who are accused of siphoning close to $119 million from the parastatal, will have their day of reckoning in the next few days, sources say. This was after a recent report compiled by a five-member independent committee revealed that Zinara lost over $119 million to former acting…
HARARE – Zimbabwe’s banks are posting startling profits that are buttressing economists and investors’ belief that revenues from electronic transactions charges were reinvigorating the long-struggling financial sector. This comes as most transactions are now being done electronically as buyers and sellers, employers and employees, tenants and landlords are all using electronic means to make payments….
HARARE – Renault, one of the fastest growing automotive brands, created history with its Renault KWID. This attractive, innovative and affordable car, is a true game-changer and volume driver for Renault. Staying true to its commitment to keep building on the success of KWID with breakthrough product innovations, Renault launched the new KWID Climber, which…
HARARE – Zimbabwe’s Women’s Microfinance Bank Limited which had missed several proposed launch deadlines has finally been licensed to conduct deposit-making microfinance business with effect from May 29. The bank represents one of the strategies put in place by government to empower women by ensuring that they access money at concessionary rates. The micro-finance bank…
HARARE – Buy Zimbabwe chief executive Munyaradzi Hwengwere says there is no contradiction between his organisation’s mission and the government’s ‘Zimbabwe is open for business’ mantra. Hwengwere, who was speaking in Harare yesterday at the launch meeting of the 8th Buy Local Summit to be held at Village Lodge in Gweru from June 14 to…
HARARE – Business Shingi Munyeza seems to have failed to grow the businesses he acquired several years ago as he is reportedly set to dispose the franchises. Munyeza started by scaling down operations at some of the franchises such as Ocean Basket, News Café and Mugg & Bean before closing them down altogether. He has…
HARARE – Integrated telecommunications company, TelOne, has embarked on an “Anti-vandalism” community outreach after vandalism had threatened an upgrade of Zimbabwe’s main communication system and exchanges in the $98 million National Broadband Backbone project (NBB). On Monday, the company’s management met with traditional chiefs, headmen and members of the Chivi and Rutenga communities in Masvingo,…
HARARE – Industry and Commerce minister Mike Bimha on Monday commissioned a $12 million steel reinforcement bars plant expected to create employment for 450 people. Steel Brands in New Ardbennie Industrial Area produces high quality certified reinforcement steel bars which are currently being imported by the construction industry from South Africa and China. “Steel Brands…
HARARE – The Reserve Bank of Zimbabwe (RBZ) allocated about $474 million towards the importation of fuel in the first four months of the year, which is way above the $383, 1 million disbursed by the apex bank during the comparative period last year. Despite the significant jump in foreign currency allocated towards fuel imports,…
