HARARE – South African packaging firm Nampak said its Zimbabwean unit recorded a 13 percent increase in profits to $4,9 million in the full year to September compared to $4,3 million registered in the prior comparable period. Nampak Zimbabwe company secretary Keith Nicholson yesterday said sales for the year amounted to $96,3 million from $95,2…
HARARE – WorldRemit, a leading online money transfer company, is guaranteeing its customers United States dollars in cash for collection at Steward Bank branches across Zimbabwe. The international money transfer firm has been operating in Zimbabwe since 2010, and is taking the unprecedented step to source cash through its partner Steward Bank. “We know that…
HARARE – Africa’s largest seed producer, SeedCo, said its revenues went up by 45 percent to $36 million in the half year to September 2017 compared to $24,8 million in the same period last year due to early maize seed sales and improved winter cereal seed sales. SeedCo chief executive Morgan Nzwere told analysts on…
HARARE – Zimbabwe Stock Exchange-listed conglomerate, Meikles Limited (Meikles), has bounced back to profitability after registering a $3,2 million profit in the half year to September 2017 compared to a loss of $1,4 million in the same period last year. The group’s executive chairperson, John Moxon, on Friday said the company’s revenue for the six-month…
HARARE – South African cement manufacturing firm, PPC, has rejected an offer made by Canadian firm Fairfax Financial Holdings to buy $144 million of ordinary shares in SA’s biggest cement maker for R5,75 a share. This was after the PPC Zimbabwe parent company and at least 25 percent of the group’s shareholders had earlier rejected…
HARARE – Events surrounding the exit of Zimbabwe’s former president Robert Mugabe have delayed the National Budget presentation which was scheduled for yesterday, November 23, 2017. According to legal and parliamentary watchdog, Veritas, the fast-moving events of the past week caused a change of plan after Parliament failed to sit on November 23. “The Budget…
HARARE – Mutare has plenty of business opportunities for those who might want to invest in the city because it has the potential to expand, a top hotelier has said. Chairperson of the Inns of Zimbabwe and owner of the newly-established Gordon’s Select Breakfast in Mutare and Grace Cottage in Bvumba, Gordon Adams, is optimistic…
HARARE – Zimbabwe has begun understudying various countries that successfully implemented the special economic zones (SEZs) concept as part of strategies to have greater understanding of the notion, businessdaily has established. “Last month, a delegation of senior government officials and captains of industry embarked on a study tour in China to appreciate how the SEZs…
HARARE – State-owned mobile telecommunications firm, NetOne, has reduced tariffs for its OneFusion package as a response to the growing calls by subscribers for affordable data tariffs in line with regional trends. Zimbabwe is ranked among the most expensive countries in southern Africa in terms of data tariffs with 1 gigabyte costing around $30 compared…
HARARE – The Netherlands is planning to inject funding to small-scale farmers in Zimbabwe aimed at boosting pineapple production. Eosta BV, a European market leader in the trade of organic fruits and vegetables, in collaboration with Zimtrade, the Netherlands Enterprise Agency and Topsector, are currently embarking on a project to capacitate Chipinge small-scale farmers to…
