Business

HARARE – The Zimbabwean government must put its house in order before securing investors for struggling iron ore giant Ziscosteel, economic and political analysts have said. [GoogleAd] This comes after Finance minister Patrick Chinamasa recently admitted that the $750 million Essar-Ziscosteel deal had collapsed and government was now searching for new investors. Speaker of Parliament…

HARARE – Zimbabwe’s largest mobile telecommunication company by investment and subscriber base Econet Wireless has launched tap and go payment system called EcoCash Ta! that will enable customers to buy from vendors and informal merchants without using cash. The product is the first of its kind in Zimbabwe and is part of EcoCash’s strategy to promote…

HARARE – Rainbow Airlines (Rainbow) says it will commence operations soon following the acquisition of a flight operational permit from South African aviation authorities. The privately-owned Zimbabwean airline, which had its demo flight in July this year and promised to start operations by August — had its operations dragged down by lack of appropriate papers from…

HARARE – Zimbabwe has been ranked as the least country in Africa with a favourable environment for Small to Medium Scale Enterprises (SMEs) to start and operate a business, a new study has revealed. The latest survey by a South African-based research institution — ThinkRoom Consulting — in conjunction with Microsoft revealed that the variables in…

HARARE – Zimbabwe is working on announcing and gazetting the Indigenisation Law’s updated framework templates and procedures aimed at clarifying the controversial policy, a Cabinet minister has said. Indigenisation and Empowerment minister Patrick Zhuwao said the new frameworks are meant at bringing clarity to the law that has been blamed for repelling Foreign Direct Investment…

HARARE – Listed hospitality and retail group Meikles Limited (Meikles) posted a 15 percent increase in revenue to $225,6 million in the six months to September 30, 2015 on the back of improved performance from its divisions. The group’s executive chairman, John Moxon, said operating income increased by 18 percent relative to the previous period….

HARARE – The Zimbabwe Consolidated Diamond Company (ZCDC) is expected to commence operations soon after government this week announced its intention to recruit at least 12 key personnel for the merged firm. In a notice published yesterday, government said it was seeking the services of a chief executive, chief operating officer, company secretary, chief security…

HARARE – The Deposit Protection Corporation (DPC) says it has begun compensating Zimbabwe dollar account holders for banks under liquidation. This comes after the central bank in June this year announced that it would demonetise the local currency and compensate account holders who lost their savings when the government introduced multi-currencies in 2009. “Accordingly, DPC…

HARARE – Lobby group African Forum and Network on Debt Development (Afrodad) says government must scrap a coterie of tax incentives on investors to boost its depleting coffers. In its draft research report on the cost of investment incentives in Zimbabwe released yesterday, Afrodad said the exemptions being granted to investors were hurting the country…