HARARE – Zimbabwe has been ranked 116 out of 144 economies in the Networked Readiness Index (NRI) which measures the capacity of economies to leverage Information Communication Technology (ICT) for growth and wellbeing. The report released by the World Economic Forum (WEF) last week placed Finland, Singapore and Sweden on the top three. These were…
HARARE – The Reserve Bank of Zimbabwe (RBZ) plans to carry out a due diligence of Tuli Coal Mine (Tuli), as it pursues the disposal of its 70 percent stake in the venture . This comes after the central bank’s governor Gideon Gono announced in May 2011 that RBZ was disposing all its non-core investments…
HARARE – Japanese electronics giant Epson says it will supply products worth $1 million to Zimbabwe through agents, as part of efforts to expand its footprint in the country. Hennie Crous, Epson’s senior corporate account manager for the Africa region, told businessdaily that the group could increase supply depending on market response. “Epson is a…
HARARE – The Zimbabwe units of Barclays and Nedbank have announced projects to boost their presence in Zimbabwe by opening new branches, installing new automated teller machines (ATMs) and developing new, technology-based banking platforms across the country. Barclays Zimbabwe and Nedbank’s MBCA Bank are two of four foreign banks in Zimbabwe — the others are…
HARARE – Tourism minister Walter Mzembi has warned players in the hospitality sector to comply with the indigenisation policy or risk losing their operating licences. Mzembi said the sector is not exempted from the law — which compels all foreign-owned companies operating in Zimbabwe to cede at 51 percent of their shareholding to black locals….
HARARE – Platinum group metals producer Zimplats Holdings Limited (Zimplats) yesterday said it will disburse a further $1,6 million to the Mhondoro-Ngezi Community Share Ownership Trust to fulfil its commitment to the indigenisation programme. Busi Chindove, the company’s spokesperson, told businessdaily that the money will add on to the $4,1 million that has already been…
HARARE – Government will this week disburse $1 million towards the United Nations World Tourism Organisation (UNWTO) general assembly preparations, Tourism minister Walter Mzembi says. He said the money — to fund a publicity campaign of the premier event to be co-hosted by Zimbabwe and Zambia in August this year — is part of the…
HARARE – Diversified investment group TA Holdings (TA) says it has written off its interest in listed building materials manufacturer PG Industries Zimbabwe (PG) to curb further losses. TA holds a 13 percent stake in PG, which has recorded a fourth consecutive loss since dollarization of Zimbabwe’s economy in 2009 – triggering fears of the…
HARARE – MBCA Bank (MBCA) – a unit of South Africa’s Nedbank group – says it will increase its branch network in Zimbabwe despite indigenisation pressures threatening to scuttle operations. The financial institution said the move is part of efforts to harness segments that were not traditionally on their target market. MBCA is one of…
HARARE – Botswana says it will soon disburse the P500m loan it promised Zimbabwe in 2009. Dorcas Makgato-Malesu, Botswana’s Trade and Industry minister, last Friday told businessdaily that responsible authorities have finally ironed out security issues and other outstanding matters. “The two (countries’) Finance ministers have had some minor things to sort out,” she said….
