HARARE – Fixed telecommunications company, TelOne, has begun the roll-out of the National Broadband (NBB) Project network under the $98 million China Exim Bank facility. The implementation of the network modernisation venture, which was granted a national project status, commenced late last year is expected to be completed within 24 months. An upgrade of exchanges…
HARARE – Government has expropriated half of Zim Alloys’ land for distribution to small-scale indigenous players in the chrome mining industry. Mines minister Walter Chidakwa said while the discussions had been “tough and full of problems” the former Anglo-American subsidiary chrome miner was not objecting to the land grab. “Naturally, when a company holds land…
HARARE – Mobile telecommunications firm NetOne has become the first company in the country to assist Tourism minister Walter Mzembi with a $10 000 sponsorship package to boost his United Nations World Tourism Organisation (UNWTO) campaign. Mzembi is set to battle it out for the UNWTO secretary-general post with six other candidates from across the…
HARARE – Zimbabwe’s leading mobile telecommunications company, Econet, has set up a facility to allow local shareholders to participate in its $130 million rights issue, with the assistance of the central bank. This was after the Zimbabwe Stock Exchange (ZSE) indefinitely postponed the company’s extraordinary general meeting, which is slated for today (Friday), to allow…
HARARE – Zimbabwe is planning to export over 800 000 tonnes of chrome this year, following the country’s move to re-distribute land previously held by miners. Mines minister Walter Chidakwa yesterday said government was moving to re-allocate 21 170 hectares (ha) of land that once belonged to the country’s biggest chrome producer, Zimasco, to new…
HARARE – London Stock Exchange-listed financial services group, Atlas Mara, has entered into a partnership with international payment platform networks, Mastercard and Visa in a move expected to provide financial access to Sub-Saharan Africa customers. Atlas Mara — which owns BancABC Zimbabwe — yesterday signed three strategic business agreements with Mastercard, which aim to build…
HARARE – A fragile political situation that could prove catastrophic — gross domestic product (GDP) growth of less than one percent, a notoriously high unemployment rate, widening inequality and the industrial failings of a commodity-driven growth model — not a pretty picture of an economy. Yet this is what Zimbabwe is faced with. Economic analysts…
HARARE – Zimbabwe’s second largest mobile telecommunications company, NetOne, says it is working on strategies to complete its $137 million licence fee within the next decade. NetOne’s acting chief executive, Brian Mutandiro, on Monday said the company was also in discussions over how to settle legacy debt. “We have paid $4 million towards the current…
HARARE – Zimbabwe requires close to $1 billion fresh capital to reduce the current cash crisis, a leading economist has said. Renowned economics professor and advisor to the Office of the President, Ashok Chakravarti, said the country, which has been battling acute cash shortages for close to a year, must come up with new strategies…
HARARE – Africa’s most valuable company, Naspers, has set its eyes on partnering with Zimbabwe’s mobile telephone firms to boost its video-on-demand business. This comes as the south Africa-headquartered firm, which is valued at over $70 billion, is seeking strategic alliances on the continent to help compete with United States giant Netflix Incorporation. Naspers chief…
