HARARE – Statutory pension fund, National Social Security Authority (Nssa), is set to increase its shareholding in Starafricacorporation (Starafrica). This was after the sugar producer said it wants to offer Nssa 1 533 333 333 ordinary shares with a nominal value of $0,0001 each at a conversion price of $0,0075 per share in respect of…
HARARE – Cement manufacturer PPC has recorded the highest production volumes in Zimbabwe for the first time in 18 years following the opening of a new $82 million plant in Harare. The group’s interim chief executive, Johan Claassen, said Zimbabwe operations continue to exceed expectations, with the investment in the Harare mill — with capacity…
HARARE – Standard Chartered (StanChart) has announced the appointment of Kweku Bedu-Addo, as new chief executive of South Africa and southern Africa. The region comprises Angola, Botswana, Mauritius, Zambia and Zimbabwe. He will report directly to Sunil Kaushal, regional chief executive officer, Africa and Middle East. Bedu-Addo brings a wealth of knowledge and experience gained…
HARARE – Cabinet minister and Zanu PF politburo member Jonathan Moyo waded into the saga involving the alleged poisoning of Vice President Emmerson Mnangagwa yesterday; suggesting that police should investigate and establish what caused his sudden illness. President Robert Mugabe’s government has been adamant that the Vice President — seen as the most likely official…
HARARE – Zimre Property Investment (ZPI) is planning to invest over $20 million in construction projects across the country, the company has announced. Company chairperson Jean Maguranyanga yesterday said ZPI had completed the acquisition of land in Victoria Falls and would soon commence the construction of a shopping mall in the resort town. “The project,…
HARARE – Arise, an investment company formed by a partnership between Norfund, a Norwegian investment fund, FMO, a Dutch development fund and Rabobank, a Dutch commercial bank, is now NMBZ’s second largest shareholder with 17,98 percent shareholding. This follows the purchase of 69,14 million shares by Arise from Norfund and FMO in NMBZ. African Century…
HARARE – Turnall Holdings Limited says it is expecting the strategic partnership it entered into with the National Building Society (NBS) for construction of houses around the country to improve its revenue for the year to December 2017. Turnall Holdings’ acting managing director Roseline Chisveto said the company last year partnered NBS in providing housing materials…
HARARE – Local banks are struggling to process about $16 million worth of foreign payments for local bakers, a situation that has affected local production, the National Bakers Association of Zimbabwe (NBAZ) has said. The association’s chairperson Ngoni Mazango last week said while the sector was continuously engaging banks over the matter, production at local…
HARARE – Zimbabwe is set to miss its tobacco 200 million kilogrammes target after farmers delivered 186,3 million kg of the golden leaf on Day 105 compared to 200 million kg delivered in the same period last year. At its peak, in 2000, the country produced 237 million kg before hitting an all-time low of…
HARARE – Controversial businessman Frank Buyanga has been appointed as chief executive of House of Mandela African Royal Mint (HoM-ARM) – a medallion and related products manufacturing company founded by the late South African president Nelson Mandela’s daughter Makaziwe in 2014. The development also comes as the flamboyant entrepreneur’s African Medallion Group (AMG) has purchased…
