HARARE – International fast-food retail giant KFC is planning to open more branches in Zimbabwe, in a development that will result in employment creation in the country. Bruce Layzell, general manager of New African Markets for the Yum Restaurants International — a subsidiary of KFC — said the company’s vision was to be accessible to…
HARARE – The future remains uncertain for 150 mine workers at Zimplats following the permanent closure of Bimha Mine last week. Zimplats, which is 87 percent-owned by South Africa’s Impala Platinum Holdings (Implats), last week announced that it has ceased operations at its Bimha Mine following an underground collapse in July. The stoppage of work at…
HARARE – Zimbabwe’s dilapidating rail infrastructure may soon have a facelift following indications by a South African firm, Grindrod Limited (Grindrod), that it was seeking commodity contracts outside its home market. Alan Olivier, the Grindrod chief executive last week said his company was more than ready to invest in the southern African region. “We are…
HARARE – AIM-listed miner African Consolidated Resources (ACR) has agreed with Falcon Gold Zimbabwe Limited (Falgold) to further extend the date for payment of the outstanding amount for the purchase of Dalny Mine and associated infrastructure to October. Following Falgold shareholders’ approval of the $7,5 million acquisition deal earlier this month, ACR and Falgold agreed…
HARARE – Farmer organisations say they are prepared to negotiate with private grain dealers concerning the $390 per tonne minimum maize and soya bean price set by government. This comes after the Grain Millers Association of Zimbabwe (GMAZ) last week sued government for setting grain and soya purchase prices because it says the State’s policy…
HARARE – Atlas Mara Co-Nvest Limited (Atlas Mara) says it has completed the acquisitions of ABC Holdings Limited (BancABC) and ADC African Development Corporation AG (ADC). “With the successful completion of these acquisitions, Atlas Mara is now a fully operational entity and able to continue to execute its strategy of becoming Sub-Saharan Africa’s premier financial…
HARARE – MBCA Bank (MBCA) — a unit of South Africa’s Nedbank group — says ithopes for a positive outcome on its indigenisation compliance discussions with government, as the financial institution seeks to comply with the country’s laws. In a statement accompanying the group’s unaudited interim condensed financial results for the half year ended June…
HARARE – Old Mutual’s mortgage lending unit Central African Building Society (CABS)’s asset base increased by 21 percent to $694 million in the half year to June 2014 up from $574 million recorded in the prior period. Group chairman, Leonard Tsumba, said the group’s deposits also grew by 23 percent while loans and advances grew…
HARARE – EFE Securities has tipped Bindura Nickel Corporation (BNC) to increase its profit by 45 percent in 2015 to $34,3 million up from $23,7 million recorded this year due to an anticipated rise in nickel prices. In its review of BNC, the equities research company said global Nickel price has been on a rebound…
HARARE – Zimbabwe’s largest platinum producer, Zimplats, could lose up to $100 million following the closure of its Bimha Mine. Alex Mhembere, chief executive of the Australia Stock Exchange-listed firm yesterday said the mine, which collapsed last month, would be indefinitely shut down “in order to safeguard the safety of underground personnel and equipment”. “A…
