HARARE – Zimbabwe’s flea markets and hair salons are proving to be a safe haven for the country’s unemployed with the retailing sector raking in over $350 million annually, a recent study has shown. According to Zimstat, in its Survey of Services Report 2013, the country has about 27 871 flea markets and 3 052…
MUTARE – Fixed telephone service provider, TelOne, has challenged fellow corporates to show greater concern to their employees’ welfare and environment. The company’s managing director Chipo Mtasa told the businessdaily on the side lines of TelOne’s two-day Wellness Fair which was launched after a clean-up campaign of Mutare’s central business district. “This is not the…
HARARE – America insurance firm, Blue Marble Microinsurance (Blue Marble), is set to launch its first venture in Zimbabwe later this month. The company —a consortium of eight companies established in 2015 with the aim of creating a market for micro insurance —said it will provide drought protection to smallholder maize farmers in the southern…
HARARE – Struggling wood producer, Border Timbers, said it is targeting new markets in Africa to hedge itself against the harsh economic environment prevalent in the country. The company’s judicial manager, Peter Bailey, said Border Timbers, whose loses widened to $24 million in the full year to June 2016 from $4 million in the previous…
HARARE – Suspended Fidelity Life Assurance (Fidelity) managing director Simon Chapereka has died. Chapereka, who was appointed head of the listed and diversified group in April 2003 before his inglorious fall in April this year following an Insurance and Pensions Commission probe into various corporate governance infractions, is said to have collapsed and died yesterday…
HARARE – Zimbabwe Stock Exchange (ZSE) listed Delta Corporation (Delta), will soon become part of the Anheuser-Busch InBev (AB InBev) family following a $101 billion megabrew merger between the Belgium-headquartered beverages maker and SABMiller. Delta — 38 percent owned by globally brewer SABMiller with over $1 billion market capitalisation on the ZSE — yesterday announced…
HARARE – Zimbabwe’s leading mobile network operator Econet Wireless (Econet) has partnered with Ireland-headquartered firm, One Horizon Group (One Horizon), to launch proprietary VoIP technology in Africa through a license agreement. The application allows roamers to make high-quality phone calls home for approximately the same amount as a local call and is fully integrated with…
HARARE – Flamboyant businessman Frank Buyanga is pressing ahead with his interest for a 40 percent stake in Lafarge Cement Zimbabwe (Lafarge) amid indications that the local company’s major shareholder had requested further information from the potential suitor. This also comes as the Hamilton Capital (Hamilton) boss and founder had first expressed his interest in…
HARARE – Zimbabwean companies risk total shutdown amid indications that the majority of them are registering turnovers of less than $5 000 annually, a new study has shown. According to the Zimbabwe National Statistics Agency (ZimStat), about 30 percent of the firms operating in the country failed to break the $5 000 revenue barrier in…
HARARE – Troubled coal miner, Hwange Colliery Company Limited (HCCL), narrowed its half year losses to $28,4 million from $44,1 million recorded last year on the back of reduced administration costs and a string of other cost-containment measures implemented during the period. HCCL chairman Winston Chitando yesterday said the group, which is due to retrench nearly…
