HARARE – Renowned chartered account and businessman Farai Rwodzi’s wife — Lorah Madiwa — has filed for divorce at the High court citing irreconcilable differences between the two. Rwodzi has been married to Lorah for nearly 27 years. Lorah accuses Rwodzi of having a relationship with another woman and wants out. “The marriage between the…
HARARE – The Rainbow Tourism Group’s $22,5 million rights issue has been partially subscribed amid indications that the National Social Security Authority (Nssa) will increase its shareholding in the listed hotel group. Nssa currently holds over 60 percent shareholding in RTG. RTG company secretary Napoleon Mtukwa yesterday said the group’s rights offer netted $12,7 million,…
HARARE – Property investment and development firm, Mashonaland Holdings (Mash Holdings) has written off $870 000 worth of legacy rental arrears on the back of rising voids as the property market remains depressed, its acting chief executive said. The firm’s acting boss, Letiwin Mawire said Mash Holdings — which recorded an increase in voids to…
HARARE – Zimbabwe’s largest cigarette manufacturer, British American Tobacco (BAT), anticipates the business environment to remain challenging in the short to medium term, despite government overtures to improve the business climate. BAT managing director Clara Mlambo yesterday said while President Emmerson Mnangagwa’s government has adopted a deliberate policy stance to attract investment and improve the…
HARARE – The Postal and Regulatory Authority of Zimbabwe (Potraz) has ordered State-owned mobile network operator, NetOne, to compensate subscribers who lost their data bundles in mysterious circumstances in the past few weeks. Gift Machengete, the Potraz director-general yesterday wrote to NetOne acting chief executive Brian Mutandiro advising him of the directive. “The authority has…
HARARE – President Emmerson Mnangagwa’s government will next month travel to the United Kingdom to lure British and European investors. The investment roundtable meeting, which is being organised by Consolidated Africa Services (Cas), will held in London from March 14-17. The latest development comes hardly a month after Mnangagwa launched the national investment policy statement…
HARARE – Rainbow Tourism Group, Zimbabwe’s second largest hospitality entity, launched the tourism industry’s first integrated mobile and website App in Harare yesterday. The innovative mobile application called RTG Gateway App was launched at the Rainbow Towers Hotel and Conference Centre by Tourism and Hospitality Industry minister Prisca Mupfumira. Mupfumira commended RTG for pioneering the…
HARARE – Canadian mineral exploration company Chimata Gold Corporation said it is seeking to raise at least US$2 million needed to seal a deal with a Mauritius-based firm, Zimbabwe Lithium Company, to mine lithium in Kamativi. Zimbabwe Lithium Company recently entered into an agreement with the Zimbabwe Mining Development Corporation to develop lithium tailings deposit…
HARARE – The Confederation of Zimbabwe Industries (CZI) says the country’s fuel and electricity prices are still high despite the recent government intervention to reduce taxes on the energy sector. “The CZI Energy and Environment committee is of the view that the prices are still too high and not in line with the move to…
HARARE – Zimbabwe will next month host an investment conference aimed at providing a platform for potential investors, business and government to come up with ways to increase the flow of investment into the country. The programme also includes discussions on various issues affecting the country and lessons learned from countries which have seen their…
