HARARE – The Zimbabwe Tourism Authority (ZTA) has pledged to lobby government officials to fly EgyptAir — among a basket of key airlines — as part of conditions for the carrier to defer its plan to pull out of Zimbabwe. This comes after the authority sweet talked the Egyptian national carrier, which had announced plans…
HARARE – The introduction of the Central Securities Depository (CSD) is expected to significantly improve the liquidity crisis in Zimbabwe, analysts say. Campbell Musiwa, chief executive of the Chengetedzai Depository Company (Chengetedzai), said the system will improve liquidity by attracting additional domestic and foreign investors as the new settlement, clearing and trading standards are internationally…
HARARE – Zimbabwe must set predictable policies and respect property rights for it to benefit from the growing Information Communication Technology (ICT) in Africa, United States envoy Bruce Wharton said. He said while the southern African nation was progressing in the ICT sector, the country needs to set investor friendly policies to attract more players….
HARARE – Anglo American Platinum (Anglo)’ Zimbabwe unit Unki Mine plans to spend $100 million on capital projects, including employees’ houses. Mpumi Sithole, the miner’s media relations manager, yesterday said the projects, which began last year, comprise bulk infrastructure and is structured into two phases. “956 houses are due for completion by no later than…
HARARE – AfrAsia Bank Limited (AfrAsia) is limiting depositors’ withdrawals due to solvency challenges. The bank, limiting withdrawals to between $50 and $200 depending on the day, said it was suffering the effects of the prevailing acute liquidity crisis. “…liquidity constraints in the local economy have affected our normal operations,” spokesperson Sekai Chitemerere told Business…
HARARE – Zimbabwe’s largest platinum producer Zimplats has set aside $10 million for the Community Share Ownership Trust (CSOT), with government yet to approve the miner’s indigenisation plan. In January last year, the Australia Stock Exchange-listed miner — 87 percent owned by South Africa-based Impala Platinum Holdings — agreed to sell a stake to locals,…
HARARE – Zimbabwe’s uncertain policy environment remains a concern despite the country improving in global competitiveness ratings, a latest World Economic Forum (Wef) said. In its Global Competitiveness Report for 2014-2015, the think-tank said the southern African nation’s policy environment needs urgent attention. “(Zimbabwe’s) public institutions continue to receive a weak assessment, particularly related to…
HARARE – Zimbabwean banks’ aggregate profits surged by 182 percent to $13,84 million in the half year to June 2014 compared to $4,9 million in prior comparable period. Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, said the banking sector remains generally profitable as at June 30, 2014. “A total of 12 banks recorded profits…
HARARE – Micro finance institutions’ loan disbursements grew to $170 million in March this year from $164 million in December 2013 despite exorbitant interest rates, reflecting Zimbabweans’ huge appetite for loans. The lenders, charging between 20 and 30 percent interest per annum, provide short-term loans to hard pressed individuals as well as small and medium…
HARARE – Dairibord Holdings (Dairibord)’s says its milk intake and sales slumped in the half year to June 2014. During the period, raw milk intake went down four percent to 12,7 million litres from 13,3 million litres in the half year to June 2013 while sales volumes decreased by six percent to 29,9 million litres…
