HARARE – Zimbabwe has spent $744 million on petroleum products in the seven months to July from the import of 747 million litres of petrol and diesel, official statistics show. This compares favourably well with $769 million the country spent last year in the same period for the importation of 838 million litres of fuel….
HARARE – Zimbabwe tobacco exports surged by 49 percent to $347 million this week from the sale of 65 million kilogrammes (kgs) up from $231 million recorded in the prior period, official statistics show. Figures released by the Tobacco Industry and Marketing Board (Timb) on Friday revealed that China continues to dominate as Zimbabwe flue-cured…
HARARE – Mwana Africa Plc (Mwana)’s non-executive director, Mark Wellesley-Wood, has resigned from the London-listed firm and is likely to be succeeded by a Chinese national, Ching Fung Hung, at the company’s annual general meeting slated for September 29. The resignation of Wellesley-Wood comes hardly two months after Mwana’s founder and former chief executive Kalaa…
HARARE – Standard Chartered Zimbabwe (StanChart) says it remains committed to Zimbabwe despite the country’s harsh economic environment. StanChart, a subsidiary of international banking group Standard Chartered Plc, is one of the oldest financial institutions in Zimbabwe. The bank’s chairman, Samuel Rushwaya, said the financial institution has a long history in Zimbabwe and contributed significantly…
HARARE – The introduction of Econet Wireless’s ConnectedCar technology has seen a dramatic decline in car theft in the country. Introduced a few months ago, Econet ConnectedCar is a global phenomenon used by organisations to monitor, control and better optimise their fleet management. The technology can also be used to track stolen vehicles. We caught…
HARARE – London-listed financial services group, Atlas Mara, says Zimbabwe’s economic challenges continue to put negative pressure on business performance. The group’s chief executive, John Vitalo, said in the absence of strong economic policies, the slowdown in economic activity in the southern African country is expected to continue throughout 2015. “BancABC Zimbabwe’s results were negatively…
HARARE – African Development Bank (AfBD) Zimbabwe representative, Mateus Magala, is leaving the country for his native Mozambique where he is scheduled to head the coastal nation’s energy development utility, it has emerged. Finance minister Patrick Chinamasa made the announcement on Monday at a signing ceremony of a $2,8 million grant from the AfDB to…
HARARE – Mwana Africa Plc (Mwana) continues to record impressive results and is set for greater heights despite the recent departure of its founder and former chief executive, Kalaa Mpinga. The London-listed firm’s results for the quarter ended June 30, 2015 released yesterday revealed that despite operating in Zimbabwe’s challenging environment, the company registered significant…
HARARE – Zimbabwe’s economy is squirming following the recent devaluation of the Chinese yuan and the declining South African rand, putting a dent on the country’s economic revival hopes, market experts say. This comes as the country — which ditched its own currency in 2009 in favour of a multiple currency system encompassing the United…
HARARE – ZB Financial Holdings (ZB) has returned to profitability after posted a $4,1 million after tax profit in the first half of 2015 from loss of $2,5 million in the same period last year on the back of relentless implementation of cost management. The group’s chief executive Ron Mutandagayi told an analysts briefing yesterday…
