HARARE – Labour unrest continues to rock NMB Bank Limited (NMB) with non-managerial staff giving the financial institution a fresh ultimatum after a botched strike attempt. The Zimbabwe Banks and Allied Workers’ Union (Zibawu) — representing the NMB workers — on Monday called off a meeting to prepare for a job action and gave the…
HARARE – Empowerment Corporation (Private) Limited (EC), a local investment group led by businessman James Makamba, has acquired an 11 percent stake in Telecel Zimbabwe (Private) Limited (Telecel) and as it seeks to raise its shareholding to 60 percent. This also comes as the diversely-owned investment group has officially announced Patrick Zhuwao’s appointment as its…
HARARE – Zimbabwean import costs from South Africa (SA) – its biggest trading partner – are expected to sharply increase, as a result of incessant fuel price hikes in that country, economic analysts say. Eric Bloch, a Bulawayo-based economist, said although the bulk of Zimbabwe’s fuel is not sourced from neighbouring SA – except for…
HARARE – The Zimbabwe Tourism Authority (ZTA) says it is targeting $3 billion tourism receipts in the next five years. Karikoga Kaseke, ZTA chief executive told businessdaily in an exclusive interview last week that the tourism authority has put in place strategies to revamp the country’s tourism industry. “Depending on the outcome of the elections…
HARARE – As Zimbabwe continues to plunge further into uncertainty and self-created economic crisis, largely as a result of poor policies, one wonders if there is a solution in sight to all this madness. With the country’s economic indicators painting a gloomy picture, government seems more determined to worsen an already messy situation as opposed…
HARARE – Zimbabwe must implement mining sector reforms to achieve sustainable economic growth, the African Development Bank (AfDB) has said. “The development of a mineral policy is critical, particularly given the increasing role of the mining sector in supporting the socio-economic growth objectives of the government, job creation, and revenue and export earnings,” said the…
HARARE – Econent Wireless Zimbabwe has announced the appointment of top international investment banker Martin Edge as a non-executive director. Edge, who has worked in Africa for nearly 20 years with some of the world’s largest banks including HSBC and Standard Chartered Bank, is the third high profile new ?independent director to join the board…
HARARE – Zimbabwe has earned $584,4 million from the sale of 158,2 million kg of tobacco sold at an average price of $3,70 per kg since the marketing season opened at the beginning of February. The volume of tobacco sold to date is a 19,7 percent improvement from the 132 million kgs worth $488 million…
HARARE – Newly-branded Steward Bank, formerly TN Bank, says it has rationalised its operations as part of efforts to contain costs and boost operational efficiencies. “In the past few months we have undergone a significant rationalisation of our human resources capabilities. A new highly experienced board and management team has also been appointed from diverse…
HARARE – Delta Beverages investment of over $6,5 million in its Chitungwiza-based Chibuku Super plant has paid off, the units general manager Mark Mudimbu has said. “The investment has paid off because of the high and enthusiastic ?acceptance of the product. We have been operating for three months and the plant is contributing significantly to…
