Business

HARARE – Despite government’s intention of compulsorily acquiring 22 000 hectares (ha) of land claims from ferrochrome producer, Zimbabwe Alloys (ZimAlloys), the former Anglo American subsidiary is scouting for a new investor. In a notice published by the company’s judicial manager last week, ZimAlloys invited tenders from interested parties to invest in the ferrochrome concern….

HARARE – Local retailers are struggling to remain profitable in the wake of acute cash shortages, an increasingly menacing informal sector and deteriorating economic conditions, the Confederation of Zimbabwe Retailers (CZR) said. CZR president Denford Mutashu told the businessdaily that with competition from the informal sector and cash shortages, the sector was on the verge…

HARARE – Zimbabwe has been ranked the 12th most corrupt country in the world and 11th in Africa in the latest rankings released by Transparency International this week. The country was ranked the 18th most corrupt globally in 2015 and eight in Africa. The latest findings show that the country — led by President Robert…

HARARE – A new commercial airline, Rainbow Airlines (Rainbow), this week made its inaugural flights on the Harare-Johannesburg and Harare-Victoria Falls routes, offering competition to the struggling national carrier. Rainbow chief executive Ed Berry said the airline was also earmarking the Harare-Cape Town route, adding the company is expecting to get a second 50-seat Bombardier…

HARARE – Botswana is seeking ways to bolster its economic and trade cooperation with Zimbabwe in various sectors, the country’s trade promotion body has said. Botswana Industry and Trade Centre (BITC) said there is potential to double trade between the two southern African countries, which currently stands at $333 million to over $660 million. The…

HARARE – National Social Security Authority (Nssa) said it will relinquish its controlling stake in Telecel Zimbabwe to Zarnet after three years, as a way of protecting its investment. This was after the deep-pocketed pensions administrator poured in $30 million to help Zarnet secure $40 million it needed to acquire a 60 percent stake in…

HARARE – Zimbabwe’s trade deficit with the rest of the world declined to $2,3 billion last year compared to $3 billion in 2015, latest data show. Figures released by the national statistics agency, Zimstat, on Friday showed that the country imported goods valued at $5,2 billion in 2016 compared to $2,8 billion exports. Zimbabwe’s balance…

HARARE – China’s leading supplier of surveillance products, HIKVISION, has partnered Nations Hardware and Electrical to strengthen Zimbabwe’s security industry. Nations Hardware and Electrical manager Dusty Joosab said it was the company’s objective to provide unique and world class services in the hardware, security and electrical goods sector. “Having been in the hardware and tools…

HARARE – China is willing to help Zimbabwe revive its economy through company investments, infrastructure development and bilateral cooperation, the Asian giant’s envoy has said. China’s ambassador to Zimbabwe, Huang Ping, on Wednesday told delegates attending the “Chinese New Year 2017” reception that his embassy will continue to promote steady and sound growth of China-Zimbabwe…

HARARE – Nissan Patrol, a vehicle that promises an unmatched customer experience, has set a new benchmark for luxury and ultimate performance, on and off-road. The much-vaunted member of the Nissan family comes with refreshed styling enhancements that add more style to its already impressive “go anywhere” versatility, technology and comfort. Nissan Clover Leaf marketing…