HARARE – London-listed resources firm Premier African Minerals (Premier) said it will start production at its RHA tungsten project in Zimbabwe on Monday next week. The company’s chief executive, George Roach, yesterday said screens and plant modifications are now at site and installation is progressing despite prior delays at the Zimbabwe/South Africa border, the company…
HARARE – Recently and over a period of time, questions have come up about whether Air Zimbabwe is ever going to make it as a viable airline or not. Not so long ago, the airline appeared before a Transport Parliamentary Portfolio Committee and one major thing that was raised was the need to reintroduce the…
HARARE – The world’s largest food company, Nestle, said it is committed to remain in Zimbabwe despite the country’s deteriorating economic conditions. “We have been in Zimbabwe for 57 years and indeed we are just celebrating 100 years in Africa. We are a long term company and we have invested in the country since 1961,”…
HARARE – The Zimbabwe Revenue Authority (Zimra) has threatened to take legal action against tax defaulters in an effort boost its dwindling coffers. This comes as the national tax debt rose to 31 percent in the first quarter to $2,5 billion weighed by private entity debt as company closures and unemployment surged. “We have not…
HARARE – Finance minister Patrick Chinamasa and Reserve Bank of Zimbabwe governor John Mangudya are in London this week as they intensify their drive to woo international investors as part of the re-engagement process. Mangudya left Harare for London yesterday for a week-long mission, which will see him and Chinamasa meeting British investors and later…
HARARE – Industry minister Mike Bimha said government is set to assume Zimbabwe Iron and Steel Company (Ziscosteel)’s over $370 million debt to make the Kwekwe-based steel manufacturer attractive to potential suitors. “We are in the process of entertaining other investors. It was suggested by the Finance minister Patrick Chinamasa, that we clean Zisco’s balance…
HARARE – Veteran industrialist Anthony Mandiwanza says Zimbabwe must adopt the South African rand as its official currency to help ease the current cash crisis and improve the manufacturing sector’s competitiveness. This comes as the country, which adopted a multi-currency system in 2009 dominated by the United States dollar to replace the Zimbabwean dollar rendered…
HARARE – Chinese-owned Zimasco (Private) Limited is facing serious government censure after a State-sanctioned probe has unearthed serious environmental damage at its Kwekwe plant, the Daily News can reveal. The development not only comes as President Robert Mugabe has attacked the ethical conduct of some investors from the Asian country, but the ferro-alloys producer has…
HARARE – Troubled Hwange Colliery Company Limited (Hwange) is seeking a scheme of arrangement to reschedule its $310 million debt, as its going concern status remains under threat. This also comes as the western Zimbabwe coal miner is mulling a $25 million rights and $100 million bond issue in Britain to stave off further erosion…
HARARE – Second-hand car imports into Zimbabwe have slumped 25 percent to $250 million in the first half of 2016 – from the $365 million recorded last year – on the back of high import duty tariffs and tight liquidity, the Zimbabwe National Statistics Agency (Zimstat) says. The data agency also noted that the country…
