Business

HARARE – International agriculture equipment manufacturing firm, Case IH, attracted huge crowds at the recently held Agricultural Dealers and Manufacturers Association (Adma) Agrishow in Harare. Case IH, with its Zimbabwean distribution arm Agricon Equipment (Agricon) showcased its wide offering to farmers with an impressive product display and demonstrations. Agricon chief operating officer Jason Smith said his…

HARARE – Diversified financial services group, Old Mutual, is set to construct a multi-million mall in central Harare to cater for small to medium enterprises and the informal sector. The listed company’s chief executive Jonas Mushosho on Friday said the new property — to be known as the Eastgate Market — will have at least…

HARARE – Zimbabwe has banned the importation of various basic commodities to help reduce its burgeoning import bill and protect local industries. Information released by the Zimbabwe Statistical Agency (Zimstat) on Friday shows that the country imported goods valued at $2 billion in the five months to May 2015 compared to exports of $948 million,…

HARARE – Zimbabwe’s largest financial services group by asset base, CBZ Holdings, has advised the small to medium enterprises (SME’s) to make their businesses attractive to investors. “The SME sector represents a substantial portion of all economic activity in the country,” CBZ Bank head of SMEs Lawrence Chidembo said but added that the industry lacked…

HARARE – Zimbabwe’s third largest telecommunication company, Telecel, has missed out on a $1 billion software deal between its parent company VimpelCom and Erickson. The deal encompasses a complete overhaul of VimpelCom’s information technology infrastructure across 11 countries on a scale that is the largest and most ambitious in the telecommunication industry’s history. “This marks…

HARARE – Listed hotelier Rainbow Tourism Group (RTG) has grown its revenues by $1 million in the four months to April 2016 due to strong performance. RTG chief executive Tendai Madziwanyika yesterday told shareholders at the company’s annual general meeting (AGM) in the capital that the hospitality group reduced its costs by $1,3 million in…

HARARE – German car giant Volkswagen is poised to introduce what will be the most luxurious truck ever sold in Zimbabwe — complete with special seats designed to pamper drivers who have a bad back. The new flagship of the Volkswagen Amarok fleet, which will be priced close to $75 000 when it goes on…

HARARE – Zimbabwe’s worsening cash-crisis has resulted in a significant rise in mobile money transactions, latest central bank figures show. In its weekly update for the period to May 27, the Reserve Bank of Zimbabwe (RBZ) said while total National Payment Systems (NPS) transactions stood at 5,5 million 84,6 percent of these transactions had been…

HARARE – The Insurance and Pensions Commission (Ipec) says it has placed Altfin Insurance under its watchful eyes to protect policyholder values and interests. This was after Altfin registered a negative growth of 32 percent in the quarter to March 2016, followed by CBZ Life and Heritage which both recorded negative growth of 22 and…

HARARE – South Africa’s biggest cement maker, PPC, says it hopes to complete its $80 million plant in Zimbabwe in the next 12 months, in a development that is expected to reduce cement prices in the country. The company, which already runs two cement manufacturing plants at Cementside in Bulawayo and Colleen Bawn in Matabeleland…