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…
HARARE – NMBZ flagship arm, NMB Bank, has introduced a mobile application and other technologically-driven measures aimed at promoting the realisation of a cashless economy in Zimbabwe. The bank’s marketing manager Lindiwe Thebethebe said the introduction of modern technology was rendering cash payments and visits to banks largely unnecessary. “In many countries, these cashless means…
HARARE – National Social Security Authority (Nssa) has unbundled its investment division into three units with separate managers to spearhead “reasonable” decisions and bring transparency, the authority’s chairman said. Nssa chairman Robin Vela yesterday said the division had been split into property, investments and special assets, as he finally announced the new Nssa substantive executive…
HARARE – Zimasco (Private) Limited (Zimasco)’s revival prospects have continued to dim as the company has reportedly failed to secure a $7 million bailout from its major shareholder Sinosteel Africa Corporation (Sinosteel) to finance short-term operations. This also comes as the Midlands-based company’s judicial management process has been mired in fresh controversy amid revelations that it…
HARARE – The Reserve Bank of Zimbabwe (RBZ) said it is “well on track” to unveil the bond notes in October, despite public resistance. Last week, central bank deputy governor Kupukile Mlambo told the Daily News that despite the public’s concerns, the RBZ was geared to introduce the notes. “October is still the introduction date… the…
HARARE – Toyota has launched the all-new Fortuner after 10 years of market domination by the first-generation model. With its more confident and striking looks and enhanced engine efficiency, the new Fortuner has all it takes to conquer the local market. Toyota South Africa Motors vice president Calvyn Hamman said the latest model has a long,…
HARARE – Toyota Zimbabwe has launched three new vehicle models in a bid to regain its market-leading position from competitors. On Sunday, the eighth-generation Hilux, second-generation Fortuner and the Toyota 200, which were unveiled on Sunday at Donnybrook, are expected to up rivalry in the pick-up and SUV segments. However, this week’s instalment will particularly…
HARARE – Zimbabwean tobacco farmers have remained resilient in the face of a devastating drought — which has left more than 5,5 million people in need of food aid — and are set to surpass the new target of 190 million kilogrammes (kg). This was after the country had set an initial target of 175…
HARARE – Zimbabwe is expected to miss its six million carat 2016 diamond output projection by 58 percent following Mines minister Walter Chidakwa’s decision to boot out all, but two, of the country’s diamond miners, it has emerged. Chamber of Mines Zimbabwe president Toi Muganyi yesterday told a mining output meeting in the capital that…
HARARE – Zimbabwean miners are expected to contribute about $2 billion to the fiscus generated from export receipts this year on the back of volatile metal prices, the Chamber of Mines has predicted. The organisation’s president Toi Muganyi said the sector, which has seen an increase in small-scale gold miners, expected the international commodity prices…
