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…
HARARE – Reserve Bank of Zimbabwe (RBZ) governor John Mangudya insists that troubled banks have up to end-June to put their act together before authorities can move in to restore investor confidence. The Central Bank boss told the businessdaily on the sidelines of a demonetisation briefing last week that he was waiting for the month…
HARARE – Zimbabwe Stock Exchange-listed agriculture concern, SeedCo Limited (SeedCo), registered a 27 percent increase in profits to $15 million in the full year to March 2015 from $11 million in the prior period. Morgan Nzwere, SeedCo group chief executive told analysts on Thursday that the company’s basic earnings per share rose by 17 percent…
HARARE – Coca-Cola has launched a new fruit flavoured light malt non-alcoholic beverage, Schweppes Novida, which is available in two flavours – pineapple and mandarin in a sleek 400 ml PET bottle. Takunda Jinda, Coca-Cola senior franchise brand manager, told delegates attending the product launch in Harare on Tuesday that the soft drinks segment remains…
HARARE – Zimbabwe miners and other economic stakeholders have hailed government’s move to immediately lift a ban on the export of the mineral as it will enable them to raise funds to increase smelting capacity. Morgan Moyo, the Zimbabwe Miners Federation vice president, said the lifting of the ban would help bring revive the chrome…
HARARE – Zimbabwe Asset Management Company (Zamco) – a government’s special purpose vehicle to house non-performing loans (NPLs) – is finalising modalities to clean up local banks’ balance sheets, a central bank official said. Kupukile Mlambo, Reserve Bank of Zimbabwe (RBZ) deputy governor, told delegates at the ongoing African Rural Agricultural Credit Association (Afraca), Regional…
HARARE – Mwana Africa Plc (Mwana) founder and chief executive Kalaa Mpinga has resigned with immediate effect after the recent boardroom changes at the Zimbabwe-based nickel and gold miner. Yat Hoi Ning, the new Mwana executive chairman, said terms of Mpinga’s departure are still to be finalised and agreed by both parties. “Mr Mpinga has…
HARARE – Zimbabwe tobacco farmers have so far earned nearly $430 million from the sale of 145,5 million kilogrammes (kg) of flue cured tobacco since the beginning of the current marketing season in March this year, official figures show. Statistics released by the Tobacco Industry Marketing Board (TIMB) on Friday showed that the value and…
HARARE – Listed hospitality concern African Sun Limited (ASL) recorded a profit of $850 519 in the six months to March 2015, compared to a loss of $1,4 million in the prior period, due to increased foreign tourists arrivals. Herbert Nkala, ASL chairman, on Friday said foreign arrivals into the group’s hotels grew by a…
HARARE – Zimbabwe’s total gold deliveries surged by nearly 50 percent to 1 546,16 kilogrammes (kg) in March 2015, from 1 040,49 kg recorded in March 2014, figures from the African Development Bank (AfDB) reveal. In its monthly economic review for Zimbabwe, the multilateral lender said the record production was driven by an increase in…
