Business

THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has initiated a comprehensive plan to restore all its vandalised property. This comes as Zesa has previously attributed the power cuts consumers are enduring to technical faults and vandalism, among other causes. In a statement, the power utility announced that rehabilitation efforts would take place across eight…

GOVERNMENT says it will ban the export of lithium concentrate by January 2027. Addressing a post-Cabinet press briefing in Harare yesterday, the minister of Information, Jenfan Muswere, said the country’s lithium ore bodies were multi-element containing a number of minerals. “Pertaining to the lithium sub-sector, Zimbabwe produces mainly mostly spodumene ores which are critical in…

ECONET Wireless Zimbabwe (Econet) posted an inflation-adjusted profit of ZiG2,35 billion for the year ended February 28, 2025 shrugging off a ZiG1,34 billion loss previous year on robust revenue from data and internet services. Data and Internet services income grew to ZiG9,3 billion from ZiG6,3 billion previous year and now contributes 42 percent of group…

HWANGE Colliery Company Limited (HCCL) says it is on a revival path after injecting US$8 million to improve its coke oven battery operations. A coke oven battery is a vital industrial plant that transforms coal into coke, a key fuel used in blast furnaces for steel production and other metallurgical processes. The battery consists of…

A HIGH-LEVEL third summit on microfinance technology is set to be held in Harare next week where key stakeholders will brainstorm on various issues, including improving customer service and growing cybersecurity threats. It would be a premier gathering of top microfinance professionals, financial innovators, technology leaders, and policymakers from across Africa and beyond under the…

ECONET Wireless Zimbabwe has been quietly building a 5-MW capacity data centre in Harare, with corporate clients set to be onboarded by the end of this month. Many large companies are already preparing to use the facility, which was designed and built with the assistance of Africa Data Centres (ADC), the largest operator of data centres in…

RIOZIM Limited is betting on the US$20 million capital injection from undisclosed investors to turn around its fortunes as it also seeks to embark on an extensive retooling programme to improve efficiency. The Zimbabwe Stock Exchange (ZSE)-listed miner has been unable to capitalise on favourable gold prices and struggled for profitability due to persistent equipment…

LEADING financial services institution, Stanbic Bank Zimbabwe, has been named the best banking brand in the country by the world-renowned Global Brands Magazine (GBM). This latest accolade adds to the impressive list of awards the bank has received over the years. GBM is widely recognised as a leading publication in the field of brands. Each…

THE Zimbabwe Investment and Development Agency (Zida) has expressed concern over various bottlenecks that undermine the ease of doing business in the country, creating a fertile ground for corruption. This comes after President Emmerson Mnangagwa recently said prioritising value addition and improving the ease of doing business would see the country’s economy grow in leaps…