Business

HARARE – African Medallion Group (AMG)’S gold medallions can be “a future global currency”, a leading South African millionaire and currency trader says. This also comes amid indications that the bullion initiative launched by Zimbabwean entrepreneur and philanthropist Frank Buyanga, is one of a few similarly-styled products by a continental industrialist in recent years, and…

HARARE – Auditing firm Ernst & Young Chartered Accountants Zimbabwe (EY) has raised a red flag over RioZim’s operations despite the listed resources firm registering a $2,5 million profit last year. “The group’s current liabilities exceeded its current assets by $30,8 million,” EY said in a statement accompanying RioZim’s financials for the period under review….

HARARE – Listed hotelier, African Sun Limited (ASL), has embarked on a major refurbishment exercise on its hotels in its quest to attract higher occupation rates. “Exterior painting at Elephant Hills Resort and Conference Centre is now complete, and the hotel now has a fresh look,” ASL said yesterday. The hospitality concern, which recently awarded…

HARARE – Collin Powell once said “There are no secrets to success. It is the result of preparation, hard work and learning from failure”. With the same attitude, when other businesses have buckled and closed under the current economic hardships, Oceane Perfumes has proven its stamina and has withstood the whirlwind of the slow economy…

HARARE – Former National Social Security Authority (Nssa) investments director Shadreck Vera has died after a short illness. A family spokesperson told the Daily News On Sunday that burial arrangements were yet to be made and mourners were gathered at his Mandara home in Harare. A colourful character, Vera helped quite a number of bankers…

HARARE – One of Africa’s leading insurance firm, ZEP–Re, is seeking to extend its business into Zimbabwe, businessdaily has established. ZEP–Re, which is also known as Preferential Trade Area (PTA) Reinsurance Company, underwrites life and nonlife reinsurance risks in Kenya, Tanzania, India, Uganda, and Sudan. Information gathered by this paper shows that the insurance giant…

HARARE – The number of imported vehicles declined last year for the second time in five years in what motor dealers have linked to cash shortages. Official government statistics show that vehicle imports decreased by 5,3 percent in 2016 from 70 251 to 66 479 on the back of toughening economic conditions and cash shortages….

HARARE – The Zimbabwe Stock Exchange (ZSE) said it has lifted the suspension on shares of Zeco Holdings Limited it imposed last November to allow it to comply with the bourse listing requirements. This comes after a plea by Zeco, which is chaired by Zimbabwe Football Association and Council of Southern Africa Football Association president…

HARARE – The Grain Millers Association of Zimbabwe (GMAZ) has appointed Metbank as its financial advisor on the $8 million deal aimed at refurbishing the country’s granaries. This also comes as the locally-owned bank has successfully arranged a $20 million facility to capacitate Windmill Fertiliser Company and fund commodity imports for the 2016/2017 agricultural season….

HARARE – Leading mobile telecommunications operator, NetOne, has launched a unique data product that allows subscribers to listen to radio programmes instantly. The company’s acting chief executive Brian Mutandiro said the parastatal was on a mission to unlock Zimbabwe’s potential through the power of technology and partnership by connecting subscribers to a large radio audience…