HARARE – Zimbabwe has reduced the number of days it takes to register a company from 91 to 30 days as the country moves to improve the its ease of Doing Business environment, a government official has said. The permanent secretary for Justice Legal and Parliamentary Affairs, Virginia Mabhiza, yesterday told delegates at an Ease…
HARARE – Micro-finance institution GetBucks Zimbabwe (GetBucks) says its intention to list on the Zimbabwe Stock Exchange through an Initial Public Offer (IPO) is aimed at restoring and building confidence on the local bourse. The company’s nonexecutive director, George Manyere, told stakeholders attending a GetBucks breakfast meeting in the capital yesterday that there was…
HARARE – South Korea-based Samsung Electronics Company Limited (Samsung) says it is committed to provide high quality products to the Zimbabwean market and empower local companies. “Samsung share the commitment to bringing high quality, highly desired products to the consumer market and together we have succeeded with the opening of the production plant”, said the…
HARARE – Zimbabwe’s high taxes and a cocktail of statutory levies are pushing investors away from the country’s energy sector, Parliament has warned. Parliamentary portfolio committee on Energy chairperson Nomsa Mhlanga on Tuesday told the National Assembly that mandatory levies being imposed by statutory bodies such as the Environmental Management Agency (Ema) had to be…
HARARE – Zimbabwe’s total export receipts for the eleven months to November 2015 stood at $2,2 billion with gold exports accounting for 24 percent of the earnings at $503 million, it has emerged. Data from the Zimbabwe National Statistics Agency (Zimstat) indicates that the yellow metal is currently dominating the country’s exports, overtaking tobacco which…
HARARE – Ecobank Zimbabwe’s parent company, Ecobank Transnational Incorporated (Ecobank), says its profit in the nine months to September 2015 declined by five percent to $306 million due to adverse currency movements, operational and impairment losses. In the period under review, the Pan African banking group’s profit before tax stood at $398 million down two…
HARARE – Private equity, investment and advisory firm, Brainworks Capital (Brainworks) says it has upped its stake in Dawn Properties Limited (Dawn) from 47,45 percent to 66,7 percent after the group made a mandatory offer to compulsorily buy out minorities. This comes as Brainworks, which wanted to complete a total takeover of the Zimbabwe Stock…
HARARE – Zimbabwe must improve its business environment in order to attract more foreign direct investments (FDI) into the country and ensure economic and sustainable development, an investment authority top executive has said. The Zimbabwe Investment Authority (Zia) chairman, Nigel Chanakira, last week told delegates attending a 2015 business conference — organised by the Zimbabwe…
HARARE – Zimbabwe’s largest insurance company, Old Mutual, says deflationary pressures being experienced in the country are likely to persist into the foreseeable future in the absence of strong economic reforms. In its monthly economic brief released this week, Old Mutual said deepening deflation in the absence of effective policy tools to reflate the economy…
HARARE – Finance minister Patrick Chinamasa says local banks are losing depositors to mobile money platforms due to their failure to come up with innovative products to meet consumers’ changing needs. Chinamasa told delegates in the capital yesterday at a workshop on findings of a survey done by the FinMark Trust in conjunction with the…
