HARARE – Zimbabwe’s raw milk production for the five months to May 2015 marginally rose 2,2 percent from 22,2 million litres to 22,7 million litres despite operating environment constrains, according to latest statistics from the Agriculture ministry. Figures released by the ministry’s dairy services department indicate that the country is beginning to realise benefits from…
HARARE – Government has approved plans for national carrier Air Zimbabwe (AirZim) to engage a strategic partner as part of its turnaround strategy. Shingai Dhliwayo, AirZim’s public relations manager yesterday confirmed the development but referred all questions to the Transport ministry. “Government as our sole shareholder is dealing with that matter,” she said. Efforts to…
HARARE – The cash-strapped Cold Storage Company Limited (CSC) has registered a loss of $1,4 million during the quarter to March 2015 against a budgeted loss of $1,7 million. Ngoni Chinogaramombe, CSC’s chief executive in a trading update presented to the Lands and Agriculture parliamentary portfolio committee on Tuesday said the company currently with a…
HARARE – Innscor Africa Limited (Innscor) has tasked its executive director for corporate finance, John Koumides, to lead an advisory committee implementing the separate listing of the group’s fast-food business on the Zimbabwe Stock Exchange (ZSE). A former Innscor chief executive, Koumides, was in November 2014 reassigned to his current post following the appointment of…
HARARE – Zimbabwe mining companies say they are not evading taxes but distribute their earnings legitimately among various stakeholders in line with the country’s laws. Isaac Kwesu, the Zimbabwe Chamber of Mines chief executive, recently told delegates attending the Buy Zimbabwe Summit that miners last year remitted approximately 17 percent of mining industry revenue in…
HARARE – Hwange Colliery Company Limited (HCCL) hopes to ramp up coal production to six million tonnes per year following the commissioning of mining equipment worth $31,2 million last week. “We expect our production capacity to significantly improve to 450 000 tonnes per month amounting to an annual coal production of close to six million…
LUSAKA – Air Zimbabwe (Airzim) on Monday resumed direct flights between Harare and Lusaka after a three-year hiatus as the national airline continues to increase its route network Obert Mpofu, Transport minister, told delegates boarding the flight to Lusaka that the latest development would greatly improve Airzim’s route networks as the national airline has been…
HARARE – Rome-based International Fund for Agricultural Development (Ifad) says it is ready to help revive Zimbabwe’s agriculture sector, only when the country resolves its debt arrears with the institution. Relations between Zimbabwe and Ifad — a specialised agency that finances agricultural development projects primarily for food production in developing countries — broke down in…
HARARE – Zimbabwe banks’ net profits slumped by 82 percent to $4 million in the quarter ended March 31, 2015, from $22,4 million recorded prior year on the back of increases in loan impairment charges and softening yields on loans, the central bank said. In its Banking Sector Report for the 2015 first quarter, the…
HARARE – The Zimbabwe National Roads Administration (ZINARA) has dangled the idea of a corridor master development plan (CMDP) towards the dualisation of the Beitbridge-Chirundu road, which emphasises the upgrading of key constituent elements such as the southern border post. This comes as the roads manager has complained that a raft of taxes on its…
