HARARE – The Zimbabwe Stock Exchange showed recovery signs in the week to April 8, after the local bourse’s main industrial index marginally increased by 0,12 points to close the week at 97,92 points. Statistics from the Reserve Bank of Zimbabwe (RBZ) show that the resources index also gained during the period by 0,63 points…
HARARE – Zimbabwe is working on a new debt financing programme aimed at clearing the country’s $10 billion debt using local resources, Finance minister Patrick Chinamasa has said. Chinamasa, whose tenure at Treasury has transformed him from a hawkish member of President Robert Mugabe’s Cabinet to a sharp-elbowed reformer, told reporters on Friday that the…
HARARE – The British American Tobacco Zimbabwe (BAT Zimbabwe) recently appointed Clara Mlambo as its new managing director taking over from long-serving executive Lovemore Manatsa. Our business editor John Kachembere speaks to Mlambo over her new appointment and her vision for the cigarette manufacturing company. Below are excerpts of the interview Q: Congratulations on your…
HARARE – Zimbabwe’s struggling telecommunications companies have been ordered to invest heavily in infrastructure to ensure total service availability in all areas in the country within three years. Information Communication Technology minister Supa Mandiwanzira last Friday gazetted new quality of service regulations for the telecommunications sector that force firms to achieve at least 90 percent…
HARARE – The world’s largest platinum producer Anglo-American Platinum (Amplats) says production at its Zimbabwean unit went up 14 percent to 19 000 ounces on the back of improved production. Amplats, which owns and operates Unki Platinum Mine (Unki), said the Shurugwi-based mine’s contribution resulted in a four percent increase in the group’s total platinum…
HARARE – Tourism minister Walter Mzembi is in Abidjan, Cote d’Ivoire for a meeting of African tourism policy makers, where he is also expected to further push for his United Nations World Tourism Organisation (UNWTO) bid. This also comes as the Zanu PF legislator has just completed a tour of America to rally diplomats accredited…
HARARE – Lafarge Cement Zimbabwe (Lafarge) said it would focus on improving profitability this year, after a charge related to weakening demand pushed the building-materials group to a $2 million loss for the year to December 2015. The group’s acting chairman Muchadeyi Masunda yesterday attributed the loss to a sub-optimal portfolio and price mix, noting…
HARARE – Geiger International (Geiger) has emerged as government’s partner for the $2 billion dualisation and rehabilitation of the Harare-Beitbridge road, businessdaily can reveal. Although Transport minister Joram Gumbo yesterday declined to go into details about the deal saying the “time was not yet ripe” to make a formal announcement, his statements come after President…
HARARE – Econet Wireless, Zimbabwe’s EcoSchool has formed a partnership with the Association of Chartered Certified Accountants (Acca) that will enable students to access online introductory Acca-X courses for free. The partnership, first of its kind with an institution offering professionally-accredited tuition, will potentially benefit all Zimbabwean students enrolling for Acca. EcoSchool, the first initiative…
HARARE – The unravelling drama at NetOne Cellular (NetOne) has inadvertently given a glimpse into how the State-owned company has continued to suffer due to gross under-capitalisation and neglect by its shareholder, documents show. While the issues have come up in papers forming part of suspended chief executive Reward Kangai’s defences to Information Communication Technology…
