HARARE – Zimbabwe will offer free visas for delegates attending the forthcoming six-day United Nations World Tourism Organisation (UNWTO) general assembly in Victoria Falls. The country is co-hosting the event from August 24 to 29 with neighbour Zambia, which has also suspended the visa requirement. “We will be granting free visas to anybody who is…
HARARE – Zimbabwe could miss its five percent projected gross domestic product (GDP) growth for 2013 due to the uncertainty created by the elections expected this year. This comes as the southern African country’s economy continues to show signs of fragility with GDP growth rates decelerating from highs of about 10 percent in 2010 to…
HARARE – Air Zimbabwe (Airzim) has acquired a new airplane to service domestic routes. The national airline, seeking to turnaround fortunes following the recent appointment of a new board, said the new aircraft — Embraer ERJ-145 — will ply the Harare-Bulawayo-Victoria Falls route daily. This comes as Airzim introduced another new 150-seater Airbus A320 on…
HARARE – The Zimbabwe Energy Regulatory Authority (Zera) has threatened to clampdown on unlicensed fuel traders. Gloria Magombo, Zera chief executive, said the illegal dealers were short-changing customers by selling fuel at unregulated prices. “We will soon embark on a joint operation with the Zimbabwe Republic Police, the Environmental Management Authority and local authorities,” she…
HARARE – Econet Wireless Zimbabwe Limited (Econet), the country’s largest wireless network operator, registered $695 million turnover in the year to February 2013, up 14 percent from $611 million recorded in prior comparable period. However, the telecommunications group’s profit after tax went down 16 percent to $139 million during the period under review. It attributed…
HARARE – Government has allocated $500 000 towards establishment of the Commodity Exchange of Zimbabwe (Comez). Finance minister Tendai Biti said he expected the exchange to commence operations soon, ahead of the 2013/14 agricultural season. Comez — which has been on the cards for the past four years — is targeted at playing a key…
HARARE – THE Zimbabwe Stock Exchange (ZSE) has appointed Alban Chirume as its new chief executive. Eve Gadzikwa, the bourse’s chairperson, said Chirume’s appointment is with effect from June 1. “The appointment was done independently and was not in any way influenced by any institution or individual,” she said. Chirume replaces Martin Matanda who has…
HARARE – The United States (US) says Zimbabwe should capitalise on the forthcoming United Nations World Tourism Authority general assembly to boost its economy. Zimbabwe is co-hosting the event — expected to attract nearly 5 000 visitors — with its neighbour Zambia from August 24 to 29 in Victoria Falls and Livingstone respectively. Bruce Wharton,…
HARARE – Remo Investment Brokers (Private) Limited (Remo) has taken its licence-cancellation war to the Supreme Court on the grounds that the Securities Commission of Zimbabwe (SecZim)’s actions were disputable on three key grounds. This comes as the High Court has upheld a June 2012 decision to annul the company’s operating licence on the basis…
HARARE – AfrAsia Kingdom Zimbabwe Limited (AKZL) has embarked on initiatives to strengthen the group’s businesses in response to regulatory requirements for additional capital and in preparation of an expected economic upturn, which will open new opportunities in the sector. The group said it will launch a capital raising exercise in view of meeting the…
