HARARE – Despite launching a stylish SUV range in Zimbabwe a few days ago, Mercedes-Benz is not letting go of its loyal customers. The German car manufacturer is building pickups with nubuck-leather seats and oak trim, in a bet that double-cab trucks will reel in wealthy parents and sailboat owners the same way off-road SUVs…
HARARE – Zimbabwe’s year-on-year inflation continues to surge ahead after gaining 0,37 percentage points on the September 2016 rate of -1,33 percent to close October at -0,95 percent, latest figures show. Data released by the country’s statistical agent, Zimstat, yesterday revealed that prices as measured by the all items in the Consumer Price Index decreased…
HARARE – Zimbabwe’s tobacco export earnings have increased to over $721,3 million in the eight months to November, buoyed by higher prices and demand from China. Statistics released by the Tobacco Industry and Marketing Board (TIMB) showed that the latest figure increased from $692,6 million recorded in the same period last year. Tobacco is the…
HARARE – Vice President Emmerson Mnangagwa and corporate governance guru Mervyn King are both expected to attend the annual Excellence in Corporate Governance Awards dinner taking place at Rainbow Towers in Harare this week. Mnangagwa is the guest of honour, while King, who is the guest speaker, will speak on new trends in corporate governance…
HARARE – The Zimbabwe Energy Regulatory Authority (Zera) yesterday said the country’s fuel taxes and levies were too high making local petroleum prices unresponsive to international oil price fluctuations. Zera chief executive Gloria Magombo told Parliament that local fuel dealers have to honour five tax and levy obligations amounting to about $0,62 per litre of…
HARARE – Finance minister Patrick Chinamasa has claimed that government may be forced to dig deeper into its depleting purse to revive Ziscosteel due to lack of foreign investors. “Industry minister Mike Bimha and I have been talking about Ziscosteel . . . unless Ziscosteel becomes operational, the country’s economic recovery will not take place,”…
HARARE – About 6 000 pre-paid electricity meters installed by Chinese contractor, ZTE, were condemned with the Energy ministry cancelling the ZTE contract on the back of this failure rate, a Cabinet minister said. Energy minister Samuel Undenge, last week told the National Assembly that to date, 575 667 pre-paid electricity meters had been installed…
HARARE – Government, through the Industry ministry, is in the process of vetting six investors who have expressed interest in Kwekwe-based steel manufacturer Zimbabwe Iron and Steel Company (Ziscosteel), an official in the Industry ministry said. Industry ministry deputy minister Chiratidzo Mabuwa, last week told the National Assembly that invitation of expressions of interest had…
HARARE – One of Zimbabwe’s largest supermarket groups, OK Zimbabwe (OK), says its first half profit surged 87,1 percent on the back of lower overheads. The retailer’s chief executive, Willard Zireva, on Thursday said revenue for the period had gone up 2,3 percent to $218,6 million from the $213,6 million. “Gross margins improved due to efficient…
HARARE – Data services company Africom Holdings (Africom) continues on a downward spiral, as some of its movable assets will be auctioned in Harare today for failure to meet certain unspecified obligations to Europe-based Skyvision Global Network (Skyvision). Apart from the latest debacle and setback, Kwanayi Kashangura’s company has been rocked by a number of…
