HARARE – Tri-listed coal miner, Hwange Colliery Company Limited (HCCL), has revived plans to construct a new coke oven battery, it has been learnt. HCCL, which is listed on the Zimbabwe Stock Exchange and also trades its shares on the London and Johannesburg stock markets, initially wanted to construct the new coke oven battery using…
HARARE – Beleaguered national flag carrier, Air Zimbabwe (AirZim), is pleading for a $190 million capital injection from its sole shareholder, government, to fund its revival. Saddled with a debt overhang of over $300 million, the State-run airline has an ambitious plan to acquire several planes, lease some and retire its debts. According to a…
HARARE – Econet Education has set an ambitious target in 2018 to positively disrupt education within Africa through high-quality, affordable and accessible digital education solutions. The recent all-Africa focused partnership with Dublin-based online learning giant, Shaw Academy, sees Econet Education establishing a mutually beneficial relationship to exclusively market their highly sought after online educational courses,…
HARARE – An International Christian economic alliance movement, Marketplace Calling International (MCI), is planning to establish a financial services institution to fund development in Africa. MCI founder Zienzile Dillion shared the vision with some key members of the clergy and business leaders at a business networking and empowerment forum hosted by the organisation in the…
HARARE – One of Zimbabwe’s largest lithium producer, Prospect Resources (Prospect), has established a laboratory complex in Kwekwe aimed at enhancing production of lithium carbonate. Hugh Warner, Prospect chairperson said the latest development is a significant achievement for both the company and Zimbabwe. “Producing high grade battery quality lithium carbonate that exceeds industry norms bodes…
HARARE – Zimbabwe’s insurance sector is set for a rebound following rising investor confidence in the country after the inauguration of a new government late last year, market experts have said. The southern African country is currently enjoying a breath of fresh air following the ascendency of President Emmerson Mnangagwa — who is generally viewed…
HARARE – ICT minister Supa Mandiwanzira’s recent ultimatum to the country’s mobile network operators to find a way to make all their mobile money platforms work together raises more questions than answers. Interoperability is still in its nascent stages in Africa and it is believed that when implemented it is a catalyst for growth in…
HARARE – Microfinance institution, GetBucks, said it has recorded a net profit of $2,58 million for the six months ended December 2017, showing a 51 percent increase from last year. GetBucks chairperson Glovah Madzima said the above market expectation result was achieved through increased interest income of $4,96 million from $4,38 million in the prior…
HARARE – Zimbabwe’s largest telecommunication’s company by subscriber and asset base, Econet Wireless, has declared a dividend of $50 million in the nine months to November 2017. This was after the group yesterday announced a dividend of 0,9379 US cents per share for the third quarter ended November 30, 2017, bringing the total dividend to…
HARARE – The Diaspora Infrastructure Development Group (DIDG), which won the $400 million National Railways of Zimbabwe (NRZ) recapitalisation tender jointly with Africa’s largest rail company, Transnet, is mulling investing in various sectors of the economy. DIDG chairperson Donovan Chimhandamba said the delivery of railway equipment last week to NRZ was “just the beginning” as…
