HARARE – Finance minister Patrick Chinamasa has called on Zimbabweans to depoliticise foreign direct investment (FDI). He told delegates at a post-budget meeting in Harare last Friday that FDI inflows into the country must not be classified by origin but by the development being brought into the country. “Let’s depoliticise economic issues,” Chinamasa said. “Let’s…
HARARE – Zimbabwe’s mining output is expected to grow by 2,4 percent in 2016 buoyed by increased output in gold, chrome, coal, nickel, platinum and diamonds, a Cabinet minister has said. Presenting his 2016 National Budget on Thursday last week, Finance minister Patrick Chinamasa said the sector also expected improved investment flows in the coming…
HARARE – Chinese President Xi Jinping’s visit to Zimbabwe this week is expected to breathe life into the southern African country’s ailing economy, an envoy has said. China’s ambassador to Zimbabwe Huang Ping on Friday said the emerging Asian economic powerhouse attaches great importance to Zimbabwe, hence the need to improve economic relations between the…
HARARE – Zimbabwe Stock Exchange-listed diversified concern, Econet Wireless, is on a mission to assist local small-to-medium enterprises (SME) to generate more income using its products and services, a top company executive has said. “We want our customers, who are increasingly running their own businesses, to see our network as a partner who will help…
HARARE – Listed property firm, Mashonaland Holdings (Mash Holdings), says its revenue for the year ended September 30, 2015 slumped 14 percent to $5,9 million from $6,8 million on the back of increasing voids and lease reviews in its portfolio. Mash Holdings chairman Ron Mutandagayi yesterday said the group’s total comprehensive loss for the year…
HARARE – The establishment of Zimbabwe’s first Women Micro-Finance Bank (WMFB), which has been on the cards since 2010, continues to be hampered by lack of funding, Finance minister Patrick Chinamasa has said. Presenting his 2016 National Budget this week, Chinamasa said the failure to establish the bank on time had undermined the funding of…
HARARE – Zimbabwe’s largest hospitality group African Sun Limited (ASL) says it has recorded an eight percent drop in revenues to $50,15 million in the full year to September 2015 due to a mandatory 15 percent value added tax imposed on the hospitality industry. In the period under review, the group’s average daily rate decreased…
HARARE – Total investment in the local postal and telecommunications sector surged 119,3 percent from $3 124 692 in the second quarter of 2015 to $6,8 million, data from the Postal and Telecommunications Regulatory Authority (Potraz) has shown. Figures in the Potraz Abridged Postal and Telecommunications Sector Performance Report released on Tuesday attributed the surge…
HARARE – Transport minister Joram Gumbo says various Chinese firms have expressed interests to partner with government in the implementation of major infrastructure deals in the country. This comes as President Robert Mugabe’s government, for long a pariah in the West, has increasingly turned to China for investment to help an economy desperate for new…
HARARE – Sugar producer, Hippo Valley Estates Limited (Hippo), says its profit for the six months to September 30, 2015 slumped to $2,3 million from $9 million recorded prior period comparative on the back of challenging economic conditions. In a statement accompanying the group’s financials for the period under review Hippo chief executive Sydney Mtsambiwa…
