HARARE – Deposit Protection Corporation (DPC) says it has paid about $765 000 to Royal Bank (Royal) creditors. The corporation’s chief executive, John Chikura, yesterday told the businessdaily that his organisation would be in a position to determine the exact amount to be realised from the disposal of the beleaguered financial institution’s assets in approximately…
HARARE – Two Hwange Colliery Coal Limited (HCCL) board members representing British businessman Nicholas van Hoogstraten’s interests have resigned, as the company’s trading position and fundamentals continue to deteriorate. Company managing director Thomas Makore yesterday confirmed Shingirayi Chibanguza and Ian Haruperi’s departure. “Their resignation is effective from March 1, 2016, but they did not give…
HARARE – Seedco Zimbabwe managing director Denias Zaranyika has been elected as the African Seed Trade Association (AFSTA) president. Zaranyika, who was elected at the association’s 2016 annual congress held in Kenya last week, promised to deal with some of the issues affecting Africa such as climate change, food security and improving farmer yields among…
HARARE – The Reserve Bank of Zimbabwe (RBZ) on Friday launched a five-year financial programme aimed at improving people’s acumen of monetary issues. Central bank governor John Mangudya said the programme, known as the National Financial Inclusion Strategy (2016-2020), seeks to increase the overall level of access to affordable and appropriate formal financial services within…
HARARE – The European owners of one of Zimbabwe’s prime and undeveloped platinum resources have reportedly appointed Sebastian Buchte – an executive who has been arrested and deported from South Africa (SA) – to head its African operations. ERG LLP, a Luxembourg-based natural resources company partly owning Bougai Platinum Mine along the Great Dyke, also…
HARARE – Zimbabwe says it is targeting to draw at least 100 000 German tourists into the country in the next four years. Germany contributes 18 percent of European arrivals into Zimbabwe and is ranked third after the United States of America and UK, contributing 26 355 arrivals, a far cry from the 76 000…
HARARE – Zimbabwe’s largest mobile telecommunications group Econet Wireless has ventured into the security industry following the launch of its ‘connected home’ service that brings together security and energy management under a single internet-based platform. The product known as Econet Connected Home allows one to access, monitor and secure a home from anywhere with the…
HARARE – The International Monetary Fund (IMF) has slashed Zimbabwe’s economic growth forecast to 1,4 percent this year against Finance minister Patrick Chinamasa’s 2,7 percent growth target. An IMF official leading a delegation from the Bretton Woods Institution — currently in the country to assess economic reform progress — Domenico Fanizza on Tuesday told the…
HARARE – Tobacco exports for the week ended March 4, 2016 increased by nine percent to $216,1 million from $209,2 million recorded prior year comparative, data from the Tobacco Industry and Marketing Board (TIMB) shows. The figures show that 33,5 million kilogrammes (kg) were sold during the period at an average of $6,40 per kg,…
HARARE – Zimbabwe’s platinum output is expected to surge 12 percent to 430 000 ounces (oz) on the back of the completion of an expansion project at the country’s biggest mine, Zimplats, the World Platinum Investment Council (Wpic) has said. According to Wpic’s sixth quarterly report titled Platinum Quarterly Q4 2015, the authority on the…
