HARARE – The Diaspora Infrastructure Development Group (DIDG), in partnership with South Africa’s Transnet will next week deliver the first consignment of 13 locomotives and 200 wagons as part of the $400 million National Railways of Zimbabwe (NRZ) recapitalisation. DIDG executive chairperson Donovan Chimhandamba told The Financial Gazette that the team will use the event,…
HARARE – Zimbabwe’s largest financial services group by asset base, CBZ Holdings, has begun the hunt for a new chief executive to replace Never Nyemudzo who retired on December 31, 2017. Nyemudzo, who retired to “pursue personal interests” after leading the institution for only three years, was replaced by CBZ Bank managing director Peter Zimunya…
HARARE – In A dual development set to transform Africa’s access to China as well as simplify the ability of Chinese nationals to transact in Africa, Stanbic Bank Zimbabwe’s parent company, Standard Bank, has signed an agreement with UnionPay International to accept UnionPay cards in multiple African markets. Standard Bank is also the first African…
HARARE – Beleaguered steel maker, the Zimbabwe Iron and Steel Company (Zisco), has postponed its crucial extraordinary general meeting (EGM), which was scheduled for tomorrow, due to a “delay in the establishment of the data room containing documents for inspection”. The meeting was to discuss the company’s debt, which is estimated to be about $500…
HARARE – Zimbabwe has been ranked as one of the worst performing southern African states in terms of its openness to foreign investment after the country scored a lowly 18,7 points out of 100. International think-tank BMI Research said other regional countries such as South Africa, Zambia, Mozambique and Namibia scored relatively higher at 60,…
HARARE – The Zimbabwe Investment Authority (ZIA) says it expects to approve projects valued at $2,5 billion this year on the back of broad economic reforms being adopted by President Emmerson Mnangagwa’s administration. The reforms are expected to provide a condusive environment for foreigners to invest in Zimbabwe. “Given the observed developments in the investment…
HARARE – Leading pan-African telecommunication group Liquid Telecom subsidiary, Africa Data Centres, has launched newly-expanded data centres facilities in Johannesburg and Cape Town, South Africa. The state-of-the-art, carrier-neutral SADC Johannesburg and SADC Cape Town will provide leading cloud service providers, carriers and enterprises with additional rack space and colocation services to meet the rising demand…
HARARE – Trade Kings Zimbabwe says it is confident of generating foreign currency for the country after completing its $20 million detergent manufacturing plants. The fast-moving consumer goods (FMCG) company, which is battling to secure foreign currency for imported raw materials such as chemicals, said its detergent powder manufacturing plants have adequate capacity to supply…
HARARE – Retired Dutch farmer, organic specialist and PUM expert Coen De Berg was on a consulting visit to farmers in Rusitu and Chipinge last week. De Berg, who landed in Zimbabwe because of a ZimTrade-PUM partnership, holds more than 40 years’ experience in organic dairy farming and horticulture production for the European market. Small…
HARARE – The Zimbabwe Energy Council says foreign investors shied away from the country’s energy sector last year despite injecting close to $3 billion in the region due to high political risk. The council’s chairperson Amiel Matindike said 2017 was a difficult year in terms of funding of projects — both small and big. “The…
