HARARE – The Zimbabwe National Road Administration (Zinara) allegedly lost over $119 million to two of its managers through shady deals and unprocedural tenders, an audit report has revealed. Sources close to the Transport ministry — under which Zinara falls — said the damning report, compiled by a five-member committee, was submitted to Transport minister…
HARARE – The Zimbabwe Tourism Authority (ZTA) in conjunction with Kenyan Airways and the tourism industry will be hosting a group of high profile tour agents from Nigeria on a familiarisation tour of Zimbabwe. Seven tour operators participate in this familiarisation and will tour Matopos, Hwange and Victoria Falls from March 11-16, 2018. ZTA chief…
HARARE – The Postal and Regulatory Authority of Zimbabwe (Potraz) has warned telecommunication companies to put the interests of subscribers first or risk being fined for providing poor services to subscribers. Potraz head of consumer affairs and publicity George Manyaya told thousands of people in Centenary over the weekend that the regulator will not hesitate…
HARARE – Stanbic Bank Zimbabwe women employees have taken the International Women’s Day celebrations as an opportunity to support disadvantaged women and girls in rural areas through the provision of sanitary products. “We have requested all the ladies of Stanbic Bank Zimbabwe to bring in a packet (or a few packets) of sanitary pads, cotton…
HARARE – Zimbabwe’s largest healthcare funder, Premier Service Medical Aid Society, is considering venturing into the pharmaceuticals industry, to help plug an acute drug shortage currently being experienced in the country. The group’s managing director Tendai Kapumha told The Financial Gazette yesterday that the plan was still at its infancy. “The increase in drug prices…
HARARE – The second edition of CBZ Holdings’ Youth Entrepreneurship Programme (Yep), came to a high-flying conclusion on Thursday evening with 10 young entrepreneurs receiving awards. The CBZ sponsored programme which is managed by Youth Empowered Life Trust’s Jonah Mungoshi and Shingi Chitsike, is a practical and results-based initiative to produce growth-oriented profitable businesses that…
HARARE – Conglomerate, Axia Corporation Limited lifted revenues by 33 percent to $134,2 million during the half year ended December 31, 2017, after pushing volumes under a tight cost containment regime, chairperson Luke Ngwerume said on Thursday. The Zimbabwe Stock Exchange listed Axia, whose interests span from household goods sales to auto spares distribution, had…
HARARE – United Arab Emirates-based fast-food group, Foodfund International (Foodfund’s) existing shareholders are set to retain a 50 percent stake as quick service restaurant operator, Simbisa Brands, moves to acquire the casual and fine dining concern. Simbisa yesterday said following its board’s approval of resolutions to acquire Foodfund in exchange for an issuance of Simbisa…
HARARE – FBC Bank has signed a Memorandum of Understanding with the Primary and Secondary Education ministry under which the bank will finance e-learning at 20 schools which scooped the Secretary’s Merit Awards. As part of the partnership between the two organisations, FBC Bank will buy e-learning equipment for two schools (a primary and a…
HARARE – The value of transactions processed through the National Payments System (NPS) declined by five percent, to close the week ending February 23 2018 at $1, 628 billion according to the latest Reserve Bank of Zimbabwe’s (RBZ) Weekly Economic Highlights. RBZ said the decline was mainly driven by a 1,7 percent decrease in the…
