HARARE – Zimbabwe’s largest mobile telecommunication company by subscriber base Econet’s over six million customers are being denied the opportunity to buy electricity tokens through EcoCash at a time the country is experiencing biting cash shortages, the Daily News can reveal. An investigation carried out by this publication shows that for the past three years…
HARARE – Zimbabwe has revised its tobacco sales target from 175 million kilogrammes (kg) to 190 million kg as deliveries continue to trickle in. This was after the country last week surpassed its initial target by more than five percent at 183 million kg of the golden leaf earning the country a total of $537…
HARARE – Information Communication Technology (ICT) minister Supa Mandiwanzira on Monday said government expects to finalise the acquisition of Telecel Zimbabwe (Telecel) next month. This comes amid indications that Zimbabwe’s cash-strapped government had breached its contractual obligations to pay $40 million for a 60 percent stake to Nasdaq-listed international communications and technology company, VimpelCom, by March…
HARARE – Aasa Resource Group, formerly Mwana Africa, has registered a record loss of $9,6 million in the full year to March 2016 compared to a $7 million profit last year as revenue was dragged lower by weaker selling prices for gold and nickel. The group’s executive chairman, Yat Hoi Ning, said revenue in the…
HARARE – “The farmer will never be happy again; he carries his heart in his boots; for either the rain is destroying his grain or the drought is destroying his roots,” English satirist and novelist Alan Herbert has been mostly right ever since he penned the verse in 1922. Faced with the annual increase in…
HARARE – Zimbabwe has surpassed this year’s 170 million kilogrammes tobacco production despite the crop being affected by drought, latest data show. Statistics released by the Tobacco Industry and Marketing Board (TIMB) yesterday revealed that farmers have so far produced 183 million kg of the golden leaf earning the country a total of $537 million. The…
HARARE – Agriculture concern Ariston is seeking shareholder approval to convert a $4 million debt into equity to allow the company to clean its balance sheet and raise more fresh capital. In a notice to shareholders yesterday, the Zimbabwe Stock Exchange-listed firm said the deal will see its majority shareholder, Origin Global Holdings (Origin), increasing…
HARARE – The Reserve Bank of Zimbabwe (RBZ) is reportedly locked in negotiations with Time Bank Zimbabwe Limited (Time Bank) over monies owed to the latter and whose return may shape the local financial institution’s rebound to banking business. This also comes amid indications that Transnational Holdings Limited is set to reclaim a 26 percent…
HARARE – Zimbabwe must introduce an agriculture commodity exchange in an effort to revive the sector, an international investor has said. Alternative Investments Africa (Altvest) founding partner Tichaona Seremani said the country’s agricultural sector used to be vibrant when the commodities exchange was operational and urged stakeholders to work together to revive the local market….
HARARE – Zimbabwe’s diamond production has declined by 76 percent following the country’s compulsory acquisition of Marange fields in February this year, latest figures show. Information released by the central bank revealed that diamond output deteriorated to 152 475 carats in the first quarter of 2016, compared to 639 377 carats produced during the same…
