WINDHOEK – The Ministry of Works and Transport is in the eye of a storm after issuing a N$1.6 billion railway procurement tender that will run over three years and will see about 60 000 metric tonnes of rail being imported without the relevant advise on the technicalities of the tender specification The Villager can…
HARARE – BancABC Zimbabwe parent company, Atlas Mara, said it plans to cut staff as part of an $8 million cost-cutting drive following a difficult first half of the year, during which net profits slumped 71 percent. The group, which buys banking assets in Africa to try and benefit from the region’s growth levels, is…
HARARE – Dual-listed financial services group NMB Zimbabwe (NMBZ) posted a $3,5 million profit for the half year to June 2016 on the back of a strong interest income position, despite tough economic conditions. Group chairman Benedict Chikwanha said the bank — which posted an attributable profit of $2,6 million — continued to make inroads…
HARARE – Hyundai Creta, the top-selling SUV from the South Korean carmaker, is making waves in Zimbabwe with its versatility and top-notch design. I had an opportunity to drive the vehicle yesterday and although it may have a small footprint, it is packed with big features. That’s the beauty of Creta. Driving around Harare’s bumpy…
NYANGA – State-owned mobile telecommunications operator, NetOne, is set to access over $400 million from the China Exim Bank next year, for a project expected to put 3 000 base stations online. The company’s acting chief executive, Brian Mutandiro, on Monday said the money was being accessed from Chinese president Xi Jinping’s $60 billion Development…
HARARE – Embattled businessman Munyaradzi Kereke’s woes continue to mount as he has been barred from interfering with operations at his Rock Medical Centre (RMC) after a nasty fallout with judicial manager Budhama Chikamhi. This not only comes as the ex-Zanu PF legislator’s attempts to illegally evict the BCA Consultancy Service (BCA) founder have hit…
HARARE – Industry has said government’s recent import restrictions are going to fuel more smuggling into the country, amid indications that Zimbabwe lost an estimated $1 billion to the scourge last year. Consumer Council of Zimbabwe (CCZ) executive director, Rosemary Siyachitema and Zimbabwe National Chamber of Commerce (ZNCC) chief executive, Christopher Mugaga, recently said the…
HARARE – The Reserve Bank of Zimbabwe (RBZ) is in the process of setting up stabilisation facilities aimed at monitoring local banks’ nostro accounts to ensure they meet international payment obligations, businessdaily can reveal. A nostro account is a bank account held in a foreign country by a domestic bank mainly to facilitate settlement of…
HARARE – Zimbabwe could have lost close to $124 million in tourism revenue last year to the controversial and punitive value added tax (Vat) imposed by the country’s cash-strapped government. A latest report commissioned by the Zimbabwe Council for Tourism (ZCT) revealed that the country could have received a paltry $6,6 million in tourism taxes…
HARARE – Zimbabwe is set to experience a spat of basic commodities price increases and food shortages in the coming months due to drought and recent import restrictions, a research firm has warned. South Africa-based NKC African Economics (NKC), cautioned that government’s Statutory Instrument 64 (SI)of 2016 was going to lead to food shortages as…
