HARARE – Revenue for local Internet Access Providers (IAPs) increased 7,4 percent to $33,7 million from $31,4 million in the first quarter of this year, the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) said. In a report for the period under review, Potraz also said mobile phone network operators (MNOs) posted a 14,2 percent…
HARARE – Zimplats — Zimbabwe’s largest platinum producer — has spent over $1,3 billion on its operations in the country in the past 13 years, businessdaily has learnt. Its annual integrated report released on Wednesday, the platinum miner said it has also paid $513 million to government in the form of income tax, royalties, customs…
HARARE – Zimbabwe recorded a 4,7 percent decline in mobile and Internet-based transaction to $490 million in June 2015 from $514,5 million in May due to tight liquidity crisis, latest figures from the central bank indicate. In its monthly economic review for June, the Reserve Bank of Zimbabwe (RBZ) said the total value of card…
HARARE – Work on the Harare-Beitbridge highway is expected to resume soon following the withdrawal of a two-year court case filed by Zimhighways Consortium (Zimhighways) against government. The $1,3 billion rehabilitation of the economically strategic highway was stopped in 2013 after the consortium dragged government to court for breach of contract. However, in a joint…
HARARE – Zimbabwe’s largest platinum producer, Zimplats, says it targets to increase production by 47 percent to 280 000 ounces next year up from 190 000 ounces recorded in the 12 months to June 30, 2015. The group’s chief executive, Alex Mhembere, on Wednesday told analysts that the company had also concluded a power import…
HARARE – Zimbabwe’s largest financial services group by asset base, CBZ Holdings (CBZ), has unveiled a $10 million facility to stimulate and support growth in the small-to-medium enterprises (SMEs) and micro finance sectors. Its chief executive, Never Nyemudzo, told businessdaily yesterday that the fund — to be administered by CBZ’s recently established Business Banking Division…
HARARE – Zimbabwe has commissioned a new petroleum sector pricing study aimed at coming up with mechanisms to lower fuel prices in the country, a senior government official has said. The Energy ministry permanent secretary, Patterson Mbiriri, yesterday told delegates at a Zimbabwe Energy Regulatory Authority (Zera) workshop that the existing fuel cost build-up structure…
HARARE – Billionaire and Africa’s richest man, Aliko Dangote, says Zimbabwe must open up to foreign investment by relaxing its stringent visa conditions and improve on the ease of doing business. Dangote — with a net worth of $17,2 billion according to Forbes Magazine — told Tourism minister Walter Mzembi on Monday that his visit…
HARARE – Nick Hales, the former British American Tobacco (BAT) Nigeria managing director, has been appointed Savanna Tobacco (Savanna)’s global chief executive, as the group seeks to expand its African footprint. The appointment, along with Douglas Mamvura’s as chief marketing officer, is part of efforts to create or make the company a Zimbabwean multi-national, chairman…
HARARE – Zimbabwe Platinum Holdings (Zimplats) says it has recorded a $74,3 million loss for the year ended June 30 on the back of a surge in tax costs. The Australian-listed miner yesterday said the loss — a 177 percent slump from a prior period profit position of $97,1 million — was a result of…
