Business

HARARE – Government will incentivise the country’s property developers willing to upgrade and set up new structures for tertiary institutions. Finance and Economic Development minister Patrick Chinamasa said this last week at the ground-breaking ceremony for a student complex at the National University of Science and Technology in Bulawayo. [GoogleAd] “Our State universities and other…

HARARE – First Mutual Holdings Limited (FMHL) yesterday announced that it had sold its shareholding in hotel concern, Rainbow Tourism Group (RTG), to its major shareholder, the National Social Security Authority (Nssa). The deal will give the compulsory pensions group absolute control in the hotel operations, which has been ravaged by shareholder bickering for many…

HARARE – Zimbabwe is “far” from improving its ‘ease of doing business’, the World Economic Forum (WEF) has said, as it once again ranked the nation among countries with poor global competitiveness in its latest ratings. It said actually, the prevailing economic environment has “made it harder” to do business in the investment-starved country. While…

HARARE – The Reserve Bank of Zimbabwe (RBZ) has started issuing savings bonds to individual and institutional investors with a promise of seven percent annual return. The central bank, which is issuing the debt securities to help raise money to fund government business, said applications can be lodged through commercial, building societies and the Post…

HARARE – Econet Connected Car scooped the ‘‘Most Innovative Vehicle Tracking and Monitoring Company of the Year Award” at the  Zimbabwe Private Security Awards dinner held at the Rainbow Towers hotel in Harare on Friday night. Econet Connected Car is a business unit of the Econet Connected Lifestyle property and vehicle security services division, a…

HARARE – The local bourse ended the week in the black as industrials partially recovered after four successive sessions in the red. The mainstream index picked up by 0,46 percent to settle at 366,08 buoyed by gains in heavy caps. The resource index went up by 0,96 percent to close at 99,67. A total of…

HARARE – Parliament is moving to pass the Mines and Minerals Amendment Bill which seeks to repeal the principal Act crafted in 1961. National Assembly Speaker Jacob Mudenda said last week: “I have to inform the House that I have received a non-adverse report from the Parliamentary Legal Committee on the Mines and Minerals Amendment…

HARARE – Zimre Holdings Limited’s profit for the six months to June 30, 2017 soared 1 137 percent to $2,7 million from  $220 649 recorded in corresponding period the previous year, largely due to restructuring initiatives and refocusing anchored on the new strategic focus adopted in last year. The Zimbabwe Stock Exchange-listed insurance company’s profitability…

HARARE – The National Social Security Authority (Nssa) said its assets and operations are not affected by the recent High Court ruling which nullified the acquisition of Renaissance Financial Holdings Limited (RFHL). Nssa chairperson Robin Vela yesterday said the national pensions administrator disputes the inferred effect of nullification. “In addition, the public is advised that…

HARARE – Listed clothes retailer, Edgars Stores Limited (Edgars), said its profits in the half year to July 9, 2017 went up to  $567 499 compared to $109 119 recorded in the previous corresponding period due to improved sales. The company’s chairperson Thembinkosi Sibanda yesterday said good merchandise assortments and a resurgent consumer spend assisted…