HARARE – Agriculture-focused financial institution, Agribank, has bounced back to profitability, earning $2,16 million in the six months to June 2016. The latest results compare favourably with the $3,76 million recorded in the same period last year. Agribank chief executive Sam Malaba said the profit was mainly a result of the positive outcome of the…
HARARE – Not many successful women can say they became an executive manager of one of Zimbabwe’s best performing listed companies before they turned 30. However, recently inaugurated president of the Institute of Chartered Accountants Zimbabwe (Icaz), Gloria Zvaravanhu, did just that. Fresh-faced from KPMG Chartered Accountants, the former St David’s Girls High Bonda student,…
HARARE – Asa Resources Plc (Asa), formerly Mwana Africa, said it recorded mixed fortunes in the quarter to June after gold and diamond sales registered strong performances while nickel sales failed to rise to the occasion. In the period under review, the group’s gold sales went up two percent quarter-on-quarter to 14 463 ounces and…
HARARE – National Airline, Air Zimbabwe (Airzim), has appointed Ripton Muzenda as its new chief executive. Muzenda, who is son to the late Vice President Simon Muzenda, takes over from Edmund Makona who has been in an acting capacity since September 2013. The qualified pilot already has his work cut out for him as he…
ZIMBABWE Stock Exchange-listed African Sun Limited (ASL) is continuing with its disposal of foreign assets to focus on local operations. The hospitality firm’s chairman, Herbert Nkala, yesterday said after exiting regional markets early this year, the group was now moving to dispose its Mauritian entity, African Sun PCC. “The disposal is expected to be complete…
HARARE – Zimbabwe’s largest gold producer Metallon Corporation (Metallon) says it is working on solutions to supplement power supply after losing nearly 6 000 ounces of gold to power interruptions in six months. The miner’s chief executive, Ken Mekani, yesterday said Metallon lost 112 hours of production in the second quarter of 2016 which equates…
HARARE – The Zimbabwe Agricultural Development Trust (ZADT) has disbursed over $50 million loans to boost the country’s agriculture sector through improved efficiency and creating additional revenue streams to limit effects of market volatility. ZADT chief executive Godfrey Chinoera said his organisation also seeks to enhance crop diversification in order to avert climate variability challenges…
HARARE – While Finance minister Patrick Chinamasa (pictured) is going around the West with a begging bowl, to try and rescue Zimbabwe out of a monetary crisis, back home his boss President Robert Mugabe is singing an entirely different hymn biting the hand that is supposed to help his nation. Mugabe and some of his lieutenants…
HARARE – “Please try one more time,” Douglas Mandebvu whispered to the till attendant. “I am sorry sir, you will have to try again tomorrow,” the attendant said with slight irritation in her voice glancing at the long-winding queue after swiping Mandebvu’s card for the sixth time as it was declined at the Point-of-Sale (Pos)…
HARARE – Zimbabwe’s fuel import bill has declined to $600 million in the first half of the year compared to $628 million spent last year in the same period as motorists feel the heat of the country’s deteriorating economic conditions. The country’s estimated 1,2 million vehicles consume an average of 1,5 billion litres per year…
